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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
Northern Trust
26
Northern Trust
Illinois
$42.5M -$27K -158 -0.1%
Holocene Advisors
27
Holocene Advisors
New York
$38.9M -$11.2M -65,590 -23%
HF
28
HRT Financial
New York
$38.8M +$18.8M +110,308 +106%
Bank of America
29
Bank of America
North Carolina
$36.1M +$6.4M +37,479 +23%
BNP Paribas Asset Management
30
BNP Paribas Asset Management
France
$34.5M +$32.4M +189,628 +22,179%
IC
31
IEQ Capital
California
$34.3M +$26.7M +156,664 +480%
Principal Financial Group
32
Principal Financial Group
Iowa
$32.3M -$1.16M -6,784 -4%
Renaissance Technologies
33
Renaissance Technologies
New York
$31.9M -$11.8M -69,000 -28%
Goldman Sachs
34
Goldman Sachs
New York
$31.3M +$6.65M +38,947 +29%
Two Sigma Advisers
35
Two Sigma Advisers
New York
$31.1M -$444K -2,600 -1%
Connor, Clark & Lunn Investment Management (CC&L)
36
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$30.9M +$7.6M +44,550 +35%
Walleye Capital
37
Walleye Capital
New York
$30.6M +$26.2M +153,407 +1,004%
Janus Henderson Group
38
Janus Henderson Group
United Kingdom
$30.5M +$3.97M +23,253 +16%
N
39
Nuveen
North Carolina
$24.4M -$65.9K -386 -0.3%
Public Sector Pension Investment Board (PSP Investments)
40
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$23.3M -$2.91M -17,043 -12%
T. Rowe Price Investment Management
41
T. Rowe Price Investment Management
Maryland
$21.1M -$214M -1,254,490 -92%
Invesco
42
Invesco
Georgia
$20.8M +$6.53M +38,292 +50%
Raymond James Financial
43
Raymond James Financial
Florida
$20.6M -$10.5M -61,403 -35%
UBS AM
44
UBS AM
Illinois
$19.7M -$595K -3,486 -3%
CB
45
Cooke & Bieler
Pennsylvania
$18.9M +$17.8M +104,100 New
CIP
46
Champlain Investment Partners
Vermont
$18.7M +$17.6M +103,311 New
UBS Group
47
UBS Group
Switzerland
$18.5M -$27M -158,306 -61%
SSA
48
Schonfeld Strategic Advisors
New York
$18.2M -$3.4M -19,926 -17%
Legal & General Group
49
Legal & General Group
United Kingdom
$17.6M -$569K -3,337 -3%
California Public Employees Retirement System
50
California Public Employees Retirement System
California
$17.6M -$3.37M -19,750 -17%
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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.