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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
ECM
51
ExodusPoint Capital Management
New York
$1.05M +$672K +21,387 +148%
Janney Montgomery Scott
52
Janney Montgomery Scott
Pennsylvania
$1.04M +$39.7K +1,263 +4%
WG
53
Winton Group
United Kingdom
$1.03M +$134K +4,253 +14%
LIP
54
Lighthouse Investment Partners
Florida
$1.01M +$1.08M +34,445 New
Prudential Financial
55
Prudential Financial
New Jersey
$1.01M +$261K +8,315 +32%
Natixis Advisors
56
Natixis Advisors
Massachusetts
$986K +$6.6K +210 +0.6%
AllianceBernstein
57
AllianceBernstein
Tennessee
$983K – – –
UBS Group
58
UBS Group
Switzerland
$910K -$55K -1,752 -5%
HPCM
59
Hunter Perkins Capital Management
Illinois
$904K +$24.7K +785 +3%
Renaissance Technologies
60
Renaissance Technologies
New York
$875K -$1.73M -55,200 -65%
Bank of America
61
Bank of America
North Carolina
$773K -$354K -11,280 -30%
LPL Financial
62
LPL Financial
California
$769K +$78.2K +2,489 +10%
State of Wisconsin Investment Board
63
State of Wisconsin Investment Board
Wisconsin
$750K -$36.6K -1,165 -4%
PP
64
PDT Partners
New York
$704K +$754K +23,989 New
Verition Fund Management
65
Verition Fund Management
Connecticut
$694K +$743K +23,656 New
California State Teachers Retirement System (CalSTRS)
66
California State Teachers Retirement System (CalSTRS)
California
$681K -$7.16K -228 -1%
Creative Planning
67
Creative Planning
Kansas
$679K +$344K +10,942 +90%
OAM
68
Oppenheimer Asset Management
New York
$643K +$344K +10,936 +100%
New York State Teachers Retirement System (NYSTRS)
69
New York State Teachers Retirement System (NYSTRS)
New York
$628K -$72.8K -2,316 -10%
Squarepoint
70
Squarepoint
New York
$616K +$228K +7,269 +53%
FNBOO
71
First National Bank of Omaha
Nebraska
$614K +$13.7K +436 +2%
Canada Life
72
Canada Life
Manitoba, Canada
$614K – – –
Deutsche Bank
73
Deutsche Bank
Germany
$567K +$72.9K +2,320 +14%
CSS
74
Cubist Systematic Strategies
Connecticut
$545K +$583K +18,569 New
Thrivent Financial for Lutherans
75
Thrivent Financial for Lutherans
Minnesota
$512K -$10.3K -327 -2%
1 2
3
4 5

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.