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MarketAxess Holdings
MKTX

485 hedge funds and large institutions have $6.62B invested in MarketAxess Holdings in 2025 Q4 according to their latest regulatory filings, with 117 funds opening new positions, 156 increasing their positions, 170 reducing their positions, and 70 closing their positions.

New
Increased
Maintained
Reduced
Closed

67% more first-time investments, than exits

New positions opened: 117 | Existing positions closed: 70

65% more call options, than puts

Call options by funds: $33.7M | Put options by funds: $20.4M

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

8% more funds holding

Funds holding: 450 → 485 (+35)

7% more capital invested

Capital invested by funds: $6.21B → $6.62B (+$404M)

2.96% more ownership

Funds ownership: 95.28% → 98.24% (+3%)

8% less repeat investments, than reductions

Existing positions increased: 156 | Existing positions reduced: 170

Holders
485
Holders Change
+35
Holders Change %
+7.78%
% of All Funds
5.9%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
117
Increased
156
Reduced
170
Closed
70
Calls
$33.7M
Puts
$20.4M
Net Calls
+$13.3M
Net Calls Change
-$156M

Top Buyers

1
BlackRock
BlackRock
New York
+$324M
2
AQR Capital Management
AQR Capital Management
Connecticut
+$274M
3
Primecap Management
Primecap Management
California
+$161M
4
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$159M
5
NRCM
North Reef Capital Management
California
+$119M

Top Sellers

1
HSBC Holdings
HSBC Holdings
United Kingdom
-$306M
2
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$214M
3
VanEck Associates
VanEck Associates
New York
-$125M
4
Millennium Management
Millennium Management
New York
-$52.2M
5
GAM
GuardCap Asset Management
United Kingdom
-$35.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
Pathstone Holdings
301
Pathstone Holdings
New Jersey
$318K -$57.9K -339 -16%
PA
302
Pinnacle Associates
New York
$316K +$298K +1,745 New
PWMAG
303
Pinnacle Wealth Management Advisory Group
New Jersey
$316K +$298K +1,745 New
BFM
304
Boothbay Fund Management
New York
$312K -$10.1K -59 -3%
SLAM
305
Swiss Life Asset Management
$312K – – –
AWM
306
Ariadne Wealth Management
California
$310K +$298K +1,747 New
AF
307
Allworth Financial
California
$308K +$222K +1,298 +324%
BFA
308
Benedict Financial Advisors
Georgia
$303K -$34.1K -200 -11%
MC
309
Machina Capital
France
$299K – – –
GC
310
Globeflex Capital
California
$299K – – –
KCP
311
Kera Capital Partners
California
$298K +$301K +1,761 New
Cambridge Investment Research Advisors
312
Cambridge Investment Research Advisors
Iowa
$295K +$278K +1,627 New
TRCT
313
Tower Research Capital (TRC)
New York
$292K +$184K +1,079 +203%
G
314
GenTrust
Florida
$292K +$275K +1,610 New
FFA
315
Fi3 Financial Advisors
Indiana
$291K +$274K +1,608 New
LCM
316
Landscape Capital Management
New Jersey
$289K +$272K +1,594 New
AIM
317
Aigen Investment Management
New York
$283K -$430K -2,520 -62%
Nomura Holdings
318
Nomura Holdings
Japan
$283K +$267K +1,563 New
JSW
319
Journey Strategic Wealth
New Jersey
$279K +$263K +1,539 New
GCM
320
Graham Capital Management
Connecticut
$267K -$39.8K -233 -14%
SRL
321
Scientech Research LLC
New Jersey
$267K -$870K -5,100 -78%
EWA
322
EP Wealth Advisors
California
$266K +$251K +1,468 New
BFIM
323
Beese Fulmer Investment Management
Ohio
$264K +$248K +1,454 New
GI
324
GAMMA Investing
California
$258K +$55.6K +326 +30%
CFM
325
Catalyst Funds Management
Australia
$254K -$188K -1,100 -44%
11 12
13
14 15

MKTX Hedge Fund Activity: Q4 2025 in Review

485 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in MarketAxess Holdings (MKTX) for Q4 2025, worth a combined $6.62B — up 6.5% from $6.21B a quarter earlier.

Buyers outnumbered sellers: 117 funds opened new MKTX positions and 70 closed out — a net gain of 47 holders — while 156 added to existing stakes and 170 trimmed.

The largest buyer was BlackRock, adding an estimated $324M. The largest seller was HSBC Holdings, cutting an estimated $306M.

  • 485 institutional investors held MarketAxess Holdings (MKTX) as of Q4 2025, up from 450 in Q3 2025.
  • Funds reported $6.62B of MarketAxess Holdings stock for Q4 2025, up 6.5% quarter-over-quarter.
  • 117 funds opened new MarketAxess Holdings positions in Q4 2025 and 70 closed out, a net change of +47 holders.
  • The largest MarketAxess Holdings buyer in Q4 2025 was BlackRock, an estimated $324M added.
  • The largest MarketAxess Holdings seller in Q4 2025 was HSBC Holdings, an estimated $306M sold.

Based on aggregated 13F filings for Q4 2025.