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Marcus & Millichap
MMI

112 hedge funds and large institutions have $432M invested in Marcus & Millichap in 2017 Q3 according to their latest regulatory filings, with 22 funds opening new positions, 45 increasing their positions, 29 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

175% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 8

55% more repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 29

42% more call options, than puts

Call options by funds: $414K | Put options by funds: $292K

12% more funds holding

Funds holding: 100 → 112 (+12)

2% more capital invested

Capital invested by funds: $426M → $432M (+$6.51M)

0.4% less ownership

Funds ownership: 42.42% → 42.02% (-0.4%)

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
112
Holders Change
+12
Holders Change %
+12%
% of All Funds
2.79%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
22
Increased
45
Reduced
29
Closed
8
Calls
$414K
Puts
$292K
Net Calls
+$122K
Net Calls Change
-$683K

Top Buyers

1
GIP
Granite Investment Partners
California
+$13.9M
2
AL
AJO LP
Pennsylvania
+$5.65M
3
Norges Bank
Norges Bank
Norway
+$4.97M
4
TCGI
Three Corner Global Investors
New York
+$2.64M
5
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
+$2.45M

Top Sellers

1
ROIC
Route One Investment Company
California
-$39.8M
2
Jennison Associates
Jennison Associates
New York
-$6.71M
3
NMVA
New Mountain Vantage Advisers
New York
-$3.91M
4
FTCM
First Trust Capital Management
Illinois
-$3.22M
5
MWNA
Marshall Wace North America
New York
-$2.15M
Name Holding Trade Value Shares
Change 		Change in
Stake
RA
1
Royce & Associates
New York
$101M -$966K -37,141 -1%
Aberdeen Group
2
Aberdeen Group
United Kingdom
$49M +$47.2M +1,815,405 New
BlackRock
3
BlackRock
New York
$42.5M -$558K -21,466 -1%
Vanguard Group
4
Vanguard Group
Pennsylvania
$35.5M +$1.06M +40,565 +3%
Dimensional Fund Advisors
5
Dimensional Fund Advisors
Texas
$23.6M +$2.45M +94,285 +12%
TCM
6
Tributary Capital Management
Nebraska
$15.1M +$1.29M +49,425 +10%
GIP
7
Granite Investment Partners
California
$14.4M +$13.9M +533,186 New
TCGI
8
Three Corner Global Investors
New York
$12.9M +$2.64M +101,600 +27%
Norges Bank
9
Norges Bank
Norway
$10.2M +$4.97M +190,966 +102%
RRAM
10
River Road Asset Management
Kentucky
$7.92M -$634K -24,380 -8%
State Street
11
State Street
Massachusetts
$7.67M +$270K +10,388 +4%
FTCM
12
First Trust Capital Management
Illinois
$6.47M -$3.22M -123,637 -34%
Northern Trust
13
Northern Trust
Illinois
$6.44M +$956K +36,760 +18%
AL
14
AJO LP
Pennsylvania
$5.86M +$5.65M +217,075 New
Bank of New York Mellon
15
Bank of New York Mellon
New York
$4.04M +$1.31M +50,182 +50%
FIM
16
Foresters Investment Management
New York
$4.01M +$268K +10,300 +7%
KCM
17
Kennedy Capital Management
Missouri
$3.95M -$1.84M -70,768 -33%
SCC
18
Steel Canyon Capital
Arizona
$3.82M -$1.26M -48,295 -25%
Geode Capital Management
19
Geode Capital Management
Massachusetts
$3.55M -$226K -8,698 -6%
CEI
20
Clark Estates Inc
New York
$3.48M +$234K +9,000 +8%
RP
21
Reinhart Partners
Wisconsin
$3.45M -$7.8K -300 -0.2%
BGIM
22
Brandywine Global Investment Management
Pennsylvania
$3.41M -$328K -12,619 -9%
SI
23
Sprott Inc
Ontario, Canada
$2.97M – – –
Two Sigma Advisers
24
Two Sigma Advisers
New York
$2.81M +$1.6M +61,500 +144%
Renaissance Technologies
25
Renaissance Technologies
New York
$2.58M +$1.58M +60,800 +174%
1
2 3 4 5

MMI Hedge Fund Activity: Q3 2017 in Review

112 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Marcus & Millichap (MMI) for Q3 2017, worth a combined $432M — up 1.5% from $426M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new MMI positions and 8 closed out — a net gain of 14 holders — while 45 added to existing stakes and 29 trimmed.

The largest buyer was Granite Investment Partners, opening a new position worth an estimated $13.9M. The largest seller was Route One Investment Company, exiting entirely with an estimated $39.8M sold.

  • 112 institutional investors held Marcus & Millichap (MMI) as of Q3 2017, up from 100 in Q2 2017.
  • Funds reported $432M of Marcus & Millichap stock for Q3 2017, up 1.5% quarter-over-quarter.
  • 22 funds opened new Marcus & Millichap positions in Q3 2017 and 8 closed out, a net change of +14 holders.
  • The largest Marcus & Millichap buyer in Q3 2017 was Granite Investment Partners, an estimated $13.9M added.
  • The largest Marcus & Millichap seller in Q3 2017 was Route One Investment Company, an estimated $39.8M sold.

Based on aggregated 13F filings for Q3 2017.