PubMatic

PUBM • NASDAQ

PubMatic is a software - application company in the technology sector on NASDAQ, led by Rajeev K. Goel, with a market cap of $420.1M. As of Q3 2025, 60% of shares are held by 151 institutional investors, with BlackRock, Inc. as the largest holder at 7.41%.

Chief Executive OfficerRajeev K. Goel

Market Cap$420.1M

Software - Application

Technology

Employees948.0

Websitepubmatic.com

Country

United States of America

Overview

Overview of institutional ownership in PUBM as of Q3 2025 with a market cap of $378.6M

All Institutions

Institutions: 151
Value Held: $228.9M
Shares Held: 27.6M
Avg Position: $1.5M
Median Position: $202.9K

Hedge Funds

Hedge Funds: 27
Value Held: $47.8M
Shares Held: 5.8M
Avg Position: $1.8M
Median Position: $993.6K

Ownership Breakdown

Institutional (non-HF)

47.84%

$181.1M

Hedge Funds

12.63%

$47.8M

Retail & Other

39.53%

$149.7M

Based on market cap of $378.6M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PUBM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$28.1M 0.00% of portfolio	7.41% 3.4M shares	Q4 2020 Held for 4y 11m	$5.67T
Graham Holdings Co Institution	Timothy J. O'Shaughnessy CEO	$23.4M 2.35% of portfolio	6.19% 2.8M shares	Q2 2022 Held for 3y 5m	$998.8M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$20.7M 0.00% of portfolio	5.47% 2.5M shares	Q4 2020 Held for 4y 11m	$6.69T
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$12.2M 0.00% of portfolio	3.21% 1.5M shares	Q3 2023 Held for 2y 2m	$571.21B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$12.1M 0.00% of portfolio	3.21% 1.5M shares	Q1 2022 Held for 3y 8m	$466.32B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$11.2M 0.01% of portfolio	2.96% 1.4M shares	Q4 2021 Held for 3y 11m	$75.8B
R ROYAL BANK OF CANADA Institution	-	$9.1M 0.00% of portfolio	2.39% 1.1M shares	Q4 2020 Held for 4y 11m	$542.04B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$8.0M 0.00% of portfolio	2.10% 961.5K shares	Q1 2021 Held for 4y 8m	$1.57T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$7.7M 0.00% of portfolio	2.03% 927.2K shares	Q2 2021 Held for 4y 5m	$2.88T
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	Bruce Ira Jacobs President	$7.1M 0.03% of portfolio	1.86% 851.7K shares	Q3 2023 Held for 2y 2m	$25.2B

Net Capital Flow

Institutional buying and selling activity for PUBM in Q3 2025

Traded: +$11.4M
Buyers: 80
Sellers: 68
Total Bought: +$32.0M
Total Sold: −$20.6M
Avg Position: $1.3M

Biggest Buyers

Institution	Net Bought	Current Position
CenterBook Partners LP Hedge Fund•Market Neutral	+$4.4M +527.7K shares	$6.2M 748.5K shares
UBS Group AG Institution	+$2.5M +303.5K shares	$3.5M 422.6K shares
R Roubaix Capital, LLC Hedge Fund•Long/Short	+$2.2M +271.3K shares	$2.2M 271.3K shares
S S Squared Technology, LLC Hedge Fund•Long/Short	+$2.2M +261.0K shares	$2.2M 261.0K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$1.9M +228.9K shares	$3.2M 384.9K shares
D D. E. Shaw & Co., Inc. Institution	+$1.8M +216.1K shares	$4.7M 572.5K shares
A Acuitas Investments, LLC Fund of Funds	+$1.7M +209.2K shares	$2.9M 355.7K shares
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	+$1.7M +200.0K shares	$1.7M 200.0K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$1.7M +199.9K shares	$1.8M 218.6K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$1.2M +145.7K shares	$1.4M 173.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
NORDEA INVESTMENT MANAGEMENT AB Institution	−$4.4M −346.0K shares	Sold Off 0 shares
Trexquant Investment LP Hedge Fund•Quant	−$1.7M −201.5K shares	$473.7K 57.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$1.5M −184.4K shares	$2.6M 313.1K shares
APIS CAPITAL ADVISORS, LLC Hedge Fund•Long/Short	−$964.1K −77.5K shares	Sold Off 0 shares
VANGUARD GROUP INC Institution	−$929.1K −112.2K shares	$20.7M 2.5M shares
J JANE STREET GROUP, LLC Institution	−$860.7K −103.9K shares	$570.7K 68.9K shares
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	−$773.3K −62.2K shares	Sold Off 0 shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$682.9K −54.9K shares	Sold Off 0 shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$540.9K −65.3K shares	$450.6K 54.4K shares
B BlackRock, Inc. Institution	−$513.1K −62.0K shares	$28.1M 3.4M shares

Entry and Exit Activity

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

New Positions: 16
New Value: $8.6M
Exited Positions: 23
Exited Value: $10.9M

New Positions

Institution	Position Value
R Roubaix Capital, LLC Hedge Fund•Long/Short	$2.2M 271.3K shares
S S Squared Technology, LLC Hedge Fund•Long/Short	$2.2M 261.0K shares
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	$1.7M 200.0K shares
P P.A.W. CAPITAL CORP Hedge Fund•Long/Short	$993.6K 120.0K shares
B Brevan Howard Capital Management LP Institution	$336.0K 40.6K shares
C Cardinal Point Capital Management, ULC Hedge Fund•Value	$327.1K 39.5K shares
Numerai GP LLC Hedge Fund•Quant	$287.5K 34.7K shares
IMC-Chicago, LLC RIA/Wealth	$251.3K 30.4K shares
FourThought Financial Partners, LLC RIA/Wealth	$182.9K 22.1K shares
A ANTIPODES PARTNERS Ltd Hedge Fund•Long/Short	$157.9K 19.1K shares

Exited Positions

Institution	Previous Position
NORDEA INVESTMENT MANAGEMENT AB Institution	$4.4M 346.0K shares
APIS CAPITAL ADVISORS, LLC Hedge Fund•Long/Short	$964.1K 77.5K shares
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	$773.3K 62.2K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$682.9K 54.9K shares
ARDSLEY ADVISORY PARTNERS Hedge Fund•Long/Short	$435.4K 35.0K shares
A Amundi Institution	$432.1K 34.1K shares
Q Qube Research & Technologies Ltd Institution	$404.4K 32.5K shares
CWM Advisors, LLC ETF Provider	$385.8K 31.0K shares
Engineers Gate Manager LP Hedge Fund•Quant	$376.4K 30.3K shares
S SIMPLEX TRADING, LLC Institution	$366.1K 29.4K shares

Options Activity

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

Call Positions: 8
Call Value: $5.5M
Put Positions: 8
Put Value: $3.0M

Call Positions

Institution	Position Value
P PEAK6 LLC Institution	$4.0M 4.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$879.3K 1.1K contracts
M MYDA Advisors LLC Hedge Fund•Long/Short	$248.4K 300.0 contracts
J JANE STREET GROUP, LLC Institution	$146.6K 177.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$136.6K 165.0 contracts
W WOLVERINE TRADING, LLC Institution	$94.0K 111.0 contracts
Walleye Trading LLC RIA/Wealth	$41.4K 50.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$875.2K 1.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$667.4K 806.0 contracts
P PEAK6 LLC Institution	$585.4K 707.0 contracts
J JANE STREET GROUP, LLC Institution	$396.6K 479.0 contracts
W WOLVERINE TRADING, LLC Institution	$351.5K 415.0 contracts
Walleye Trading LLC RIA/Wealth	$83.6K 101.0 contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Graham Holdings Co Institution	Timothy J. O'Shaughnessy CEO	2.35% $23.4M	6.19% 2.8M shares	Q2 2022 Held for 3y 5m	$998.8M
A Acuitas Investments, LLC Fund of Funds	Lisa Marie Thenell COO	1.89% $2.9M	0.78% 355.7K shares	Q2 2025 Held for 5 months	$155.8M
P P.A.W. CAPITAL CORP Hedge Fund•Long/Short	Peter Allen Wright CEO	1.80% $993.6K	0.26% 120.0K shares	Q3 2025 Held for 2 months	$55.2M
R Roubaix Capital, LLC Hedge Fund•Long/Short	Christopher Edmund Hillary CEO	1.02% $2.2M	0.59% 271.3K shares	Q3 2025 Held for 2 months	$220.3M
S S Squared Technology, LLC Hedge Fund•Long/Short	Kenneth A Goldblatt Managing Partner	0.82% $2.2M	0.57% 261.0K shares	Q3 2025 Held for 2 months	$263.0M
L Leibman Financial Services, Inc. Institution	-	0.66% $867.9K	0.23% 104.8K shares	Q2 2024 Held for 1y 5m	$131.7M
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	Mark Allen Broach Managing Partner	0.59% $1.7M	0.44% 200.0K shares	Q3 2025 Held for 2 months	$282.7M
Pinnacle Holdings, LLC RIA/Wealth	David Monroe Poarch Managing Partner	0.47% $1.1M	0.30% 138.8K shares	Q1 2025 Held for 8 months	$246.2M
Diversified Investment Strategies, LLC RIA/Wealth	Shane Joseph Haag Member	0.46% $703.8K	0.19% 85.0K shares	Q2 2025 Held for 5 months	$152.2M
CenterBook Partners LP Hedge Fund•Market Neutral	David Israel Stemerman CEO	0.31% $6.2M	1.64% 748.5K shares	Q3 2024 Held for 1y 2m	$2.0B