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Marcus & Millichap
MMI

175 hedge funds and large institutions have $670M invested in Marcus & Millichap in 2025 Q3 according to their latest regulatory filings, with 23 funds opening new positions, 70 increasing their positions, 49 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

44% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 16

43% more repeat investments, than reductions

Existing positions increased: 70 | Existing positions reduced: 49

4% more funds holding

Funds holding: 169 → 175 (+6)

0.72% less ownership

Funds ownership: 59.23% → 58.51% (-0.72%)

6% less capital invested

Capital invested by funds: $709M → $670M (-$39.1M)

Holders
175
Holders Change
+6
Holders Change %
+3.55%
% of All Funds
2.3%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
23
Increased
70
Reduced
49
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
+$5.04M
2
Invesco
Invesco
Georgia
+$1.58M
3
AQR Capital Management
AQR Capital Management
Connecticut
+$1.36M
4
BlackRock
BlackRock
New York
+$1.23M
5
LIP
Lighthouse Investment Partners
Florida
+$1.08M

Top Sellers

Rank Fund Capital Flow
1
RA
Royce & Associates
New York
-$8.85M
2
HCA
Harbor Capital Advisors
Illinois
-$4.19M
3
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$1.82M
4
Renaissance Technologies
Renaissance Technologies
New York
-$1.73M
5
Lord, Abbett & Co
Lord, Abbett & Co
New Jersey
-$1.46M
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
26
Royal Bank of Canada
Ontario, Canada
$3.31M -$490K -15,613 -12%
Wells Fargo
27
Wells Fargo
California
$2.78M +$52.3K +1,665 +2%
Public Sector Pension Investment Board (PSP Investments)
28
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$2.77M +$375K +11,943 +15%
Goldman Sachs
29
Goldman Sachs
New York
$2.75M +$146K +4,646 +5%
Tudor Investment Corp
30
Tudor Investment Corp
Connecticut
$2.67M +$750K +23,885 +36%
Qube Research & Technologies (QRT)
31
Qube Research & Technologies (QRT)
United Kingdom
$2.28M +$757K +24,103 +45%
RhumbLine Advisers
32
RhumbLine Advisers
Massachusetts
$2.19M +$79.3K +2,525 +4%
Barclays
33
Barclays
United Kingdom
$2.1M -$439K -13,962 -16%
Arrowstreet Capital
34
Arrowstreet Capital
Massachusetts
$2.08M +$219K +6,961 +11%
Ameriprise
35
Ameriprise
Minnesota
$2.04M -$314K -10,010 -13%
American Century Companies
36
American Century Companies
Missouri
$2.03M +$145K +4,615 +7%
UBS AM
37
UBS AM
Illinois
$1.91M -$1.26M -40,082 -38%
Legal & General Group
38
Legal & General Group
United Kingdom
$1.88M -$45.4K -1,445 -2%
AQR Capital Management
39
AQR Capital Management
Connecticut
$1.79M +$1.36M +43,161 +244%
JP Morgan Chase
40
JP Morgan Chase
New York
$1.68M +$799K +25,441 +80%
D.E. Shaw & Co
41
D.E. Shaw & Co
New York
$1.66M -$482K -15,354 -21%
N
42
Nuveen
North Carolina
$1.56M – – –
Citadel Advisors
43
Citadel Advisors
Florida
$1.55M -$329K -10,459 -17%
HCA
44
Harbor Capital Advisors
Illinois
$1.53M -$4.19M -133,541 -72%
Universal-Beteiligungs- und Servicegesellschaft
45
Universal-Beteiligungs- und Servicegesellschaft
Germany
$1.49M +$581K +18,498 +57%
Swiss National Bank
46
Swiss National Bank
Switzerland
$1.45M – – –
HSBC Holdings
47
HSBC Holdings
United Kingdom
$1.33M -$50.4K -1,604 -3%
Jane Street
48
Jane Street
New York
$1.23M +$567K +18,064 +75%
CI
49
Cambiar Investors
Colorado
$1.22M – – –
TI
50
Trexquant Investment
Connecticut
$1.14M -$198K -6,301 -14%
1
2
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MMI Hedge Fund Activity: Q3 2025 in Review

175 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Marcus & Millichap (MMI) for Q3 2025, worth a combined $670M — down 5.5% from $709M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new MMI positions and 16 closed out — a net gain of 7 holders — while 70 added to existing stakes and 49 trimmed.

The largest buyer was Millennium Management, adding an estimated $5.04M. The largest seller was Royce & Associates, cutting an estimated $8.85M.

  • 175 institutional investors held Marcus & Millichap (MMI) as of Q3 2025, up from 169 in Q2 2025.
  • Funds reported $670M of Marcus & Millichap stock for Q3 2025, down 5.5% quarter-over-quarter.
  • 23 funds opened new Marcus & Millichap positions in Q3 2025 and 16 closed out, a net change of +7 holders.
  • The largest Marcus & Millichap buyer in Q3 2025 was Millennium Management, an estimated $5.04M added.
  • The largest Marcus & Millichap seller in Q3 2025 was Royce & Associates, an estimated $8.85M sold.

Based on aggregated 13F filings for Q3 2025.