We are live on ! Find out more
MMI icon

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
Handelsbanken Fonder
101
Handelsbanken Fonder
Sweden
$254K – – –
HF
102
HRT Financial
New York
$246K +$264K +8,415 New
LTAS
103
Linden Thomas Advisory Services
North Carolina
$246K -$2.48K -79 -0.9%
ASRS
104
Arizona State Retirement System
Arizona
$220K +$1.89K +60 +0.8%
SEI Investments
105
SEI Investments
Pennsylvania
$218K +$233K +7,430 New
YCM
106
Yousif Capital Management
Michigan
$218K -$48.5K -1,545 -17%
IRC
107
Investors Research Corp
Georgia
$214K – – –
AB
108
Amalgamated Bank
New York
$208K +$7.7K +245 +4%
TRSOTSOK
109
Teachers Retirement System of the State of Kentucky
Kentucky
$205K -$36.8K -1,170 -14%
State Board of Administration of Florida Retirement System
110
State Board of Administration of Florida Retirement System
Florida
$203K – – –
New York State Common Retirement Fund
111
New York State Common Retirement Fund
New York
$200K – – –
PFSRSONJ
112
Police & Firemen's Retirement System of New Jersey
New Jersey
$196K +$34.1K +1,086 +19%
ACM
113
Aquatic Capital Management
Illinois
$187K -$178K -5,651 -47%
Citigroup
114
Citigroup
New York
$186K -$474K -15,094 -70%
SG Americas Securities
115
SG Americas Securities
New York
$184K +$29.2K +931 +17%
State of Tennessee, Department of Treasury
116
State of Tennessee, Department of Treasury
Tennessee
$180K – – –
BNP Paribas Financial Markets
117
BNP Paribas Financial Markets
France
$169K -$138K -4,382 -43%
OPERF
118
Oregon Public Employees Retirement Fund
Oregon
$161K – – –
AGWCA
119
Annis Gardner Whiting Capital Advisors
Florida
$144K -$97.4K -3,100 -39%
PNC Financial Services Group
120
PNC Financial Services Group
Pennsylvania
$137K +$4.4K +140 +3%
PAS
121
Point72 Asia (Singapore)
Singapore
$136K +$146K +4,639 New
KK
122
KLP Kapitalforvaltning
Norway
$133K – – –
Osaic Holdings
123
Osaic Holdings
Arizona
$124K – – –
SO
124
STRS Ohio
Ohio
$123K – – –
LI
125
LRI Investments
Florida
$102K +$83.2K +2,647 +316%
3 4
5
6 7

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.