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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
DB
151
Danske Bank
Denmark
$2.94K – – –
Group One Trading
152
Group One Trading
Illinois
$2.94K – – –
LFG
153
Larson Financial Group
Missouri
$2.82K +$471 +15 +19%
Optiver Holding
154
Optiver Holding
Netherlands
$2.64K +$2.83K +90 New
CA
155
Clearstead Advisors
Ohio
$2.32K +$2.48K +79 New
FPF
156
First Pacific Financial
Washington
$1.91K +$785 +25 +63%
SL
157
Salomon & Ludwin
Virginia
$1.73K +$1.89K +60 New
Fifth Third Bancorp
158
Fifth Third Bancorp
Ohio
$1.64K +$534 +17 +44%
SPIA
159
Steward Partners Investment Advisory
New York
$1.58K +$1.7K +54 New
RIL
160
Rothschild Investment LLC
Illinois
$1.35K +$188 +6 +15%
IA
161
IFP Advisors
Florida
$939 +$1K +32 New
WANY
162
Wealthspire Advisors (New York)
New York
$792 +$848 +27 New
TWD
163
True Wealth Design
Ohio
$676 +$251 +8 +53%
FMII
164
Farmers & Merchants Investments Inc
Nebraska
$558 – – –
HFS
165
Hughes Financial Services
Virginia
$512 +$534 +17 New
TFA
166
Transamerica Financial Advisors
Florida
$470 +$503 +16 New
FFA
167
Farther Finance Advisors
California
$440 +$63 +2 +15%
Jones Financial Companies
168
Jones Financial Companies
Missouri
$388 – – –
CT
169
Clearstead Trust
Maine
$206 – – –
PFBT
170
Parkside Financial Bank & Trust
Missouri
$147 – – –
AWM
171
Abound Wealth Management
Tennessee
$118 – – –
CIAM
172
Caitong International Asset Management
Hong Kong
$59 +$63 +2 New
SIC
173
SJS Investment Consulting
Ohio
$30 – – –
RFP
174
Root Financial Partners
California
$29 +$31 +1 New
Susquehanna International Group
175
Susquehanna International Group
Pennsylvania
– -$905K -29,464 Closed
4 5 6
7
8

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.