Marcus & Millichap

MMI • NYSE

Marcus & Millichap is a real estate - services company in the real estate sector on NYSE, led by Hessam Nadji, with a market cap of $1.1B. As of Q3 2025, 60% of shares are held by 173 institutional investors, with BlackRock, Inc. as the largest holder at 10.04%.

Chief Executive OfficerHessam Nadji

Market Cap$1.1B

Real Estate - Services

Real Estate

Employees2.6K

Websitemarcusmillichap.com

Country

United States of America

Overview

Overview of institutional ownership in MMI as of Q3 2025 with a market cap of $1.1B

All Institutions

Institutions: 173
Value Held: $690.0M
Shares Held: 23.5M
Avg Position: $4.0M
Median Position: $354.3K

Hedge Funds

Hedge Funds: 15
Value Held: $19.5M
Shares Held: 664.0K
Avg Position: $1.3M
Median Position: $874.6K

Ownership Breakdown

Institutional (non-HF)

58.58%

$670.5M

Hedge Funds

1.7%

$19.5M

Retail & Other

39.71%

$454.6M

Based on market cap of $1.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MMI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$114.9M 0.00% of portfolio	10.04% 3.9M shares	Q2 2015 Held for 10y 5m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$109.5M 0.00% of portfolio	9.57% 3.7M shares	Q4 2013 Held for 11y 11m	$6.69T
REINHART MAHONEY CAPITAL MANAGEMENT INC Long Only Manager	James Everett Reinhart CEO	$64.8M 2.11% of portfolio	5.66% 2.2M shares	Q1 2016 Held for 9y 8m	$3.1B
R ROYCE & ASSOCIATES LLC Institution	-	$45.8M 0.46% of portfolio	4.01% 1.6M shares	Q1 2014 Held for 11y 8m	$10.0B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$44.2M 0.01% of portfolio	3.86% 1.5M shares	Q1 2015 Held for 10y 8m	$466.32B
Tributary Capital Management, LLC Long Only Manager	Mark Alan Wynegar President	$39.3M 1.86% of portfolio	3.43% 1.3M shares	Q2 2017 Held for 8y 5m	$2.1B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$27.3M 0.00% of portfolio	2.37% 923.8K shares	Q4 2013 Held for 11y 11m	$2.88T
LORD, ABBETT & CO. LLC Long Only Manager	Douglas Bloom Sieg Managing Partner	$18.8M 0.06% of portfolio	1.64% 640.9K shares	Q4 2018 Held for 6y 11m	$31.1B
PZENA INVESTMENT MANAGEMENT LLC Long Only Manager	Chenyu Caroline Cai CEO	$18.5M 0.06% of portfolio	1.62% 631.3K shares	Q3 2023 Held for 2y 2m	$30.9B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$18.5M 0.00% of portfolio	1.61% 628.9K shares	Q4 2013 Held for 11y 11m	$1.57T

Net Capital Flow

Institutional buying and selling activity for MMI in Q3 2025

Traded: +$11.6M
Buyers: 94
Sellers: 64
Total Bought: +$41.6M
Total Sold: −$30.0M
Avg Position: $3.6M

Biggest Buyers

Institution	Net Bought	Current Position
Tributary Capital Management, LLC Long Only Manager	+$18.9M +643.3K shares	$39.3M 1.3M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$4.7M +160.6K shares	$5.1M 172.3K shares
Invesco Ltd. ETF Provider	+$1.5M +50.2K shares	$3.8M 128.5K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$1.3M +43.2K shares	$1.8M 60.9K shares
B BlackRock, Inc. Institution	+$1.2M +39.3K shares	$114.9M 3.9M shares
Lighthouse Investment Partners, LLC Fund of Funds	+$1.0M +34.4K shares	$1.0M 34.4K shares
JPMORGAN CHASE & CO Institution	+$746.7K +25.4K shares	$1.7M 57.4K shares
Q Qube Research & Technologies Ltd Institution	+$707.4K +24.1K shares	$2.3M 77.8K shares
PDT Partners, LLC Hedge Fund•Quant	+$704.1K +24.0K shares	$704.1K 24.0K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$701.0K +23.9K shares	$2.7M 90.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
R ROYCE & ASSOCIATES LLC Institution	−$8.3M −281.6K shares	$45.8M 1.6M shares
HARBOR CAPITAL ADVISORS, INC. ETF Provider	−$3.9M −133.5K shares	$1.5M 52.0K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$1.7M −57.9K shares	$44.2M 1.5M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$1.6M −55.2K shares	$874.6K 29.8K shares
LORD, ABBETT & CO. LLC Long Only Manager	−$1.4M −46.6K shares	$18.8M 640.9K shares
MORGAN STANLEY RIA/Wealth	−$1.3M −43.5K shares	$4.7M 160.8K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$1.2M −40.1K shares	$1.9M 65.0K shares
VANGUARD GROUP INC Institution	−$987.5K −33.6K shares	$109.5M 3.7M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$904.8K −29.5K shares	Sold Off 0 shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$826.8K −28.2K shares	$9.5M 325.2K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MMI in Q3 2025

New Positions: 11
New Value: $1.8M
Exited Positions: 16
Exited Value: $3.4M

New Positions

Institution	Position Value
Lighthouse Investment Partners, LLC Fund of Funds	$1.0M 34.4K shares
Y Y-Intercept Ltd Institution	$417.7K 14.2K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$390.2K 13.3K shares
O Optiver Holding B.V. Institution	$2.6K 90.0 shares
Hartland & Co., LLC RIA/Wealth	$2.3K 79.0 shares
S Salomon & Ludwin, LLC Institution	$1.7K 60.0 shares
Steward Partners Investment Advisory, LLC RIA/Wealth	$1.6K 54.0 shares
Sontag Advisory, LLC RIA/Wealth	$792.0 27.0 shares
H Hughes Financial Services, LLC RIA/Wealth	$512.0 17.0 shares
Caitong International Asset Management Co., Ltd RIA/Wealth	$59.0 2.0 shares

Exited Positions

Institution	Previous Position
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$904.8K 29.5K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$776.9K 25.3K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$457.9K 14.9K shares
SCHARF INVESTMENTS, LLC RIA/Wealth	$269.5K 8.8K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$244.9K 8.0K shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	$222.6K 7.2K shares
M Maryland State Retirement & Pension System Institution	$215.6K 7.0K shares
Quantbot Technologies LLC Hedge Fund•Quant	$136.9K 4.5K shares
S State of Wyoming Institution	$111.7K 3.6K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$15.5K 506.0 shares

Options Activity

Institutions with the largest Call and Put options positions in MMI as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with MMI as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
REINHART MAHONEY CAPITAL MANAGEMENT INC Long Only Manager	James Everett Reinhart CEO	2.11% $64.8M	5.66% 2.2M shares	Q1 2016 Held for 9y 8m	$3.1B
Tributary Capital Management, LLC Long Only Manager	Mark Alan Wynegar President	1.86% $39.3M	3.43% 1.3M shares	Q2 2017 Held for 8y 5m	$2.1B
R ROYCE & ASSOCIATES LLC Institution	-	0.46% $45.8M	4.01% 1.6M shares	Q1 2014 Held for 11y 8m	$10.0B
Hunter Perkins Capital Management, LLC Long Only Manager	Alec Hunter Perkins CEO	0.21% $896.6K	0.08% 30.6K shares	Q4 2022 Held for 2y 11m	$435.0M
S SPROTT INC. Institution	-	0.19% $5.0M	0.44% 170.0K shares	Q1 2017 Held for 8y 8m	$2.7B
H Hofer & Associates. Inc Institution	-	0.16% $284.9K	0.02% 9.7K shares	Q4 2021 Held for 3y 11m	$174.6M
D DEPRINCE RACE & ZOLLO INC Long Only Manager	Jr. Victor Zollo CEO	0.14% $6.8M	0.60% 233.1K shares	Q2 2024 Held for 1y 5m	$5.0B
Heritage Family Offices, LLP Family Office	Ralph Erwin Nelson Managing Partner	0.13% $279.2K	0.02% 9.5K shares	Q2 2024 Held for 1y 5m	$214.9M
HARBOR CAPITAL ADVISORS, INC. ETF Provider	David Gordon Van Hooser Chairman	0.12% $1.5M	0.13% 52.0K shares	Q1 2024 Held for 1y 8m	$1.3B
LORD, ABBETT & CO. LLC Long Only Manager	Douglas Bloom Sieg Managing Partner	0.06% $18.8M	1.64% 640.9K shares	Q4 2018 Held for 6y 11m	$31.1B