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Marcus & Millichap

170 hedge funds and large institutions have $791M invested in Marcus & Millichap in 2025 Q1 according to their latest regulatory filings, with 17 funds opening new positions, 57 increasing their positions, 65 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

55% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 11

3% more funds holding

Funds holding: 165170 (+5)

0.2% less ownership

Funds ownership: 58.82%58.62% (-0.2%)

9% less capital invested

Capital invested by funds: $873M → $791M (-$82.7M)

12% less repeat investments, than reductions

Existing positions increased: 57 | Existing positions reduced: 65

100% less funds holding in top 10

Funds holding in top 10: 10 (-1)

Holders
170
Holders Change
+5
Holders Change %
+3.03%
% of All Funds
2.28%
Holding in Top 10
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
New
17
Increased
57
Reduced
65
Closed
11
Calls
$3K
Puts
Net Calls
+$3K
Net Calls Change
-$414K
Name Holding Trade Value Shares
Change
Change in
Stake
State of Wisconsin Investment Board
101
State of Wisconsin Investment Board
Wisconsin
$266K -$211K -5,738 -43%
HA
102
Hofer & Associates
California
$264K
HFO
103
Heritage Family Offices
Arizona
$261K +$20.5K +556 +8%
IRC
104
Investors Research Corp
Georgia
$251K
ASRS
105
Arizona State Retirement System
Arizona
$249K -$2.47K -67 -0.9%
VOYA Investment Management
106
VOYA Investment Management
Georgia
$246K -$25.9K -702 -9%
MSRPS
107
Maryland State Retirement & Pension System
Maryland
$242K -$39.9K -1,084 -13%
State Board of Administration of Florida Retirement System
108
State Board of Administration of Florida Retirement System
Florida
$239K
AB
109
Amalgamated Bank
New York
$236K -$6.41K -174 -2%
New York State Common Retirement Fund
110
New York State Common Retirement Fund
New York
$234K
Lido Advisors
111
Lido Advisors
California
$219K +$233K +6,318 New
SEI Investments
112
SEI Investments
Pennsylvania
$218K +$233K +6,322 New
State of Tennessee, Department of Treasury
113
State of Tennessee, Department of Treasury
Tennessee
$211K
MM
114
MQS Management
New York
$210K +$225K +6,104 New
OQS
115
Occudo Quantitative Strategies
Florida
$209K +$223K +6,059 New
LTAS
116
Linden Thomas Advisory Services
North Carolina
$204K +$4.71K +128 +2%
OPERF
117
Oregon Public Employees Retirement Fund
Oregon
$189K -$7.37K -200 -4%
Royal Bank of Canada
118
Royal Bank of Canada
Ontario, Canada
$173K +$43.1K +1,171 +31%
PFSRSONJ
119
Police & Firemen's Retirement System of New Jersey
New Jersey
$166K
PNC Financial Services Group
120
PNC Financial Services Group
Pennsylvania
$158K -$31.4K -854 -16%
KK
121
KLP Kapitalforvaltning
Norway
$156K
SOW
122
State of Wyoming
Wyoming
$151K +$10.9K +296 +7%
Zurich Cantonal Bank
123
Zurich Cantonal Bank
Switzerland
$150K
SO
124
STRS Ohio
Ohio
$145K
Osaic Holdings
125
Osaic Holdings
Arizona
$133K +$107K +2,898 +300%

MMI Hedge Fund Activity: Q1 2025 in Review

170 of the 7,462 institutional investors tracked by Wall St. Rank reported a position in Marcus & Millichap (MMI) for Q1 2025, worth a combined $791M — down 9.5% from $873M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new MMI positions and 11 closed out — a net gain of 6 holders — while 57 added to existing stakes and 65 trimmed.

The largest buyer was Reinhart Partners, adding an estimated $9.33M. The largest seller was Royce & Associates, cutting an estimated $16.2M.

  • 170 institutional investors held Marcus & Millichap (MMI) as of Q1 2025, up from 165 in Q4 2024.
  • Funds reported $791M of Marcus & Millichap stock for Q1 2025, down 9.5% quarter-over-quarter.
  • 17 funds opened new Marcus & Millichap positions in Q1 2025 and 11 closed out, a net change of +6 holders.
  • The largest Marcus & Millichap buyer in Q1 2025 was Reinhart Partners, an estimated $9.33M added.
  • The largest Marcus & Millichap seller in Q1 2025 was Royce & Associates, an estimated $16.2M sold.

Based on aggregated 13F filings for Q1 2025.