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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
450
Holders Change
-80
Holders Change %
-15.09%
% of All Funds
5.91%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.03%
New
63
Increased
160
Reduced
185
Closed
137
Calls
$192M
Puts
$22.6M
Net Calls
+$169M
Net Calls Change
+$113M

Top Buyers

1
HSBC Holdings
HSBC Holdings
United Kingdom
+$340M
2
Primecap Management
Primecap Management
California
+$174M
3
NRCM
North Reef Capital Management
California
+$96.1M
4
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$78.4M
5
BAM
Burgundy Asset Management
Ontario, Canada
+$54.4M

Top Sellers

1
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$188M
2
BlackRock
BlackRock
New York
-$156M
3
Invesco
Invesco
Georgia
-$152M
4
Vanguard Group
Vanguard Group
Pennsylvania
-$98.8M
5
American Century Companies
American Century Companies
Missouri
-$92.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
HHMI
576
Howard Hughes Medical Institute
Maryland
– -$1.79K -8 Closed
JWA
577
JFS Wealth Advisors
Pennsylvania
– -$1.56K -7 Closed
PWA
578
Physician Wealth Advisors
Utah
– -$1.12K -5 Closed
AWM
579
Activest Wealth Management
Florida
– -$587 -3 Closed
SIC
580
SJS Investment Consulting
Ohio
– -$671 -3 Closed
SC
581
Stephens Consulting
Michigan
– -$671 -3 Closed
CWP
582
Clark Wealth Partners
Illinois
– -$447 -2 Closed
AF
583
Advisornet Financial
Minnesota
– -$223 -1 Closed
LFA
584
LGT Financial Advisors
Texas
– -$223 -1 Closed
WA
585
WestEnd Advisors
North Carolina
– -$223 -1 Closed
CCM
586
Cloud Capital Management
Washington
– +$391 +2 New
20 21 22 23
24

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.