Marcus & Millichap
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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$5.04M |
| 2 |
Invesco
Atlanta,
Georgia
|
+$1.58M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
+$1.36M |
| 4 |
BlackRock
New York
|
+$1.23M |
| 5 |
LIP
Lighthouse Investment Partners
Palm Beach Gardens,
Florida
|
+$1.08M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RA
Royce & Associates
New York
|
-$8.85M |
| 2 |
HCA
Harbor Capital Advisors
Chicago,
Illinois
|
-$4.19M |
| 3 |
Dimensional Fund Advisors
Austin,
Texas
|
-$1.82M |
| 4 |
Renaissance Technologies
New York
|
-$1.73M |
| 5 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
-$1.46M |
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.