<SEC-DOCUMENT>0001040188-25-000017.txt : 20250128
<SEC-HEADER>0001040188-25-000017.hdr.sgml : 20250128
<ACCEPTANCE-DATETIME>20250128092804
ACCESSION NUMBER:		0001040188-25-000017
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250128

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARTEN TRANSPORT LTD
		CENTRAL INDEX KEY:			0000799167
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				391140809
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-38210
		FILM NUMBER:		25561254

	BUSINESS ADDRESS:	
		STREET 1:		129 MARTEN ST
		CITY:			MONDOVI
		STATE:			WI
		ZIP:			54755
		BUSINESS PHONE:		7159264216

	MAIL ADDRESS:	
		STREET 1:		3400 PLAZA VII
		STREET 2:		45 SOUTH SEVENTH ST
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VICTORY CAPITAL MANAGEMENT INC
		CENTRAL INDEX KEY:			0001040188
		ORGANIZATION NAME:           	
		IRS NUMBER:				132700161
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		15935 LA CANTERA PARKWAY
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78256
		BUSINESS PHONE:		2168982400

	MAIL ADDRESS:	
		STREET 1:		15935 LA CANTERA PARKWAY
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78256

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEY ASSET MANAGEMENT INC/OH
		DATE OF NAME CHANGE:	19990325
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: VICTORY CAPITAL MANAGEMENT INC -->
          <cik>0001040188</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000799167</issuerCik>
        <issuerName>MARTEN TRANSPORT LTD.</issuerName>
        <issuerCusip>573075108</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>129 Marten Street</com:street1>
          <com:city>Mondovi</com:city>
          <com:stateOrCountry>WI</com:stateOrCountry>
          <com:zipCode>54755</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Victory Capital Management, Inc.</reportingPersonName>
      <citizenshipOrOrganization>NY</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>4047568.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>4071568.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4071568.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.00</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>MARTEN TRANSPORT LTD.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>129 Marten Street, Mondovi, Wi 54755</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Victory Capital Management, Inc.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>15935 La Cantera Pkwy
San Antonio, TX 78256</principalBusinessOfficeOrResidenceAddress>
        <citizenship>New York</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>4,071,568</amountBeneficiallyOwned>
        <classPercent>5.00</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>4,047,568</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>4,071,568</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Victory Capital Management, Inc. is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Victory Capital Management, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>Barry Garrett</signature>
        <title>Chief Compliance Officer</title>
        <date>01/28/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
