MarketAxess Holdings
MKTX
450 hedge funds and large institutions have $6.21B invested in MarketAxess Holdings in 2025 Q3 according to their latest regulatory filings, with 63 funds opening new positions, 160 increasing their positions, 185 reducing their positions, and 137 closing their positions.
749% more call options, than puts
Call options by funds: $192M | Put options by funds: $22.6M
3.16% less ownership
Funds ownership: 98.44% → 95.28% (-3.2%)
14% less repeat investments, than reductions
Existing positions increased: 160 | Existing positions reduced: 185
15% less funds holding
Funds holding: 530 → 450 (-80)
25% less capital invested
Capital invested by funds: $8.24B → $6.21B (-$2.03B)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
54% less first-time investments, than exits
New positions opened: 63 | Existing positions closed: 137
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HSBC Holdings
London,
United Kingdom
|
+$340M |
| 2 |
Primecap Management
Pasadena,
California
|
+$174M |
| 3 |
NRCM
North Reef Capital Management
Laguna Beach,
California
|
+$96.1M |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
+$78.4M |
| 5 |
BAM
Burgundy Asset Management
Toronto,
Ontario, Canada
|
+$54.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$188M |
| 2 |
BlackRock
New York
|
-$156M |
| 3 |
Invesco
Atlanta,
Georgia
|
-$152M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
-$98.8M |
| 5 |
American Century Companies
Kansas City,
Missouri
|
-$92.3M |
MKTX Hedge Fund Activity: Q3 2025 in Review
450 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in MarketAxess Holdings (MKTX) for Q3 2025, worth a combined $6.21B — down 25% from $8.24B a quarter earlier.
Sellers outnumbered buyers: 137 funds closed out of MKTX and 63 opened new positions — a net loss of 74 holders — while 185 trimmed existing stakes and 160 added.
The largest buyer was HSBC Holdings, adding an estimated $340M. The largest seller was T. Rowe Price Investment Management, cutting an estimated $188M.
- 450 institutional investors held MarketAxess Holdings (MKTX) as of Q3 2025, down from 530 in Q2 2025.
- Funds reported $6.21B of MarketAxess Holdings stock for Q3 2025, down 25% quarter-over-quarter.
- 63 funds opened new MarketAxess Holdings positions in Q3 2025 and 137 closed out, a net change of -74 holders.
- The largest MarketAxess Holdings buyer in Q3 2025 was HSBC Holdings, an estimated $340M added.
- The largest MarketAxess Holdings seller in Q3 2025 was T. Rowe Price Investment Management, an estimated $188M sold.
Based on aggregated 13F filings for Q3 2025.