MarketAxess Holdings
MKTX
487 hedge funds and large institutions have $6.62B invested in MarketAxess Holdings in 2025 Q4 according to their latest regulatory filings, with 118 funds opening new positions, 155 increasing their positions, 171 reducing their positions, and 71 closing their positions.
66% more first-time investments, than exits
New positions opened: 118 | Existing positions closed: 71
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: 452 → 487 (+35)
6% more capital invested
Capital invested by funds: $6.21B → $6.62B (+$404M)
2.95% more ownership
Funds ownership: 95.28% → 98.24% (+3%)
9% less repeat investments, than reductions
Existing positions increased: 155 | Existing positions reduced: 171
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$324M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$274M |
| 3 |
Primecap Management
Pasadena,
California
|
+$161M |
| 4 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$159M |
| 5 |
NRCM
North Reef Capital Management
Laguna Beach,
California
|
+$119M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HSBC Holdings
London,
United Kingdom
|
-$306M |
| 2 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$214M |
| 3 |
VanEck Associates
New York
|
-$125M |
| 4 |
Millennium Management
New York
|
-$52.2M |
| 5 |
GAM
GuardCap Asset Management
London,
United Kingdom
|
-$35.4M |
MKTX Hedge Fund Activity: Q4 2025 in Review
487 of the 8,267 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: 118 funds opened new MKTX positions and 71 closed out — a net gain of 47 holders — while 155 added to existing stakes and 171 trimmed.
The largest buyer was BlackRock, adding an estimated $324M. The largest seller was HSBC Holdings, cutting an estimated $306M.
- 487 institutional investors held MarketAxess Holdings (MKTX) as of Q4 2025, up from 452 in Q3 2025.
- Funds reported $6.62B of MarketAxess Holdings stock for Q4 2025, up 6.5% quarter-over-quarter.
- 118 funds opened new MarketAxess Holdings positions in Q4 2025 and 71 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.