Marcus & Millichap, Inc.: which funds bought and sold

Institutions that bought and sold Marcus & Millichap shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 97 institutions that filed 13F reports for both quarters added to or opened positions in Marcus & Millichap, and 77 cut or closed them. Together they added a net 670K shares, +3.0% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 1.2M shares (+19.1%); index fund managers were net sellers of 424K shares (−4.2%). 31 opened a new position and 17 sold out entirely.

Bought, Q2 2026 97 institutions, 31 of them new holders Sold, Q2 2026 77 institutions, 17 of them sold out

Net change, all compared +670K shares (+3.0%)

Net change, active managers +1.2M shares (+19.1%), 16 bought, 14 sold

Buyers versus sellers

institutions compared, 200

97 bought 26 77 sold

Active managers and hedge funds 16 bought · 14 sold · +1.2M

Index fund managers 4 bought · 5 sold · −424K

Other institutions 77 bought · 58 sold · −81K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Schroder Investment Management Group Active manager	+1.4M +145.5%	2.3M	$71.3M
AQR Capital Management LLC Hedge fund	+290K +159.4%	472K	$14.7M
Pzena Investment Management LLC Active manager	+128K +6.4%	2.1M	$66.7M
Two Sigma Investments, LP Hedge fund	+127K +29.9%	551K	$17.2M
Jacobs Levy Equity Management, Inc Active manager	+113K +70.9%	273K	$8.5M
UBS Group AG	+111K +257.8%	154K	$4.8M
Exoduspoint Capital Management, LP Hedge fund	+84K New position	84K	$2.6M
Bank Of America Corp	+78K +158.7%	127K	$4M
State Of New Jersey Common Pension Fund D	+41K New position	41K	$1.3M
HRT Financial LP	+35K +67.7%	87K	$2.7M
Winton Group Ltd Hedge fund	+34K +74.3%	80K	$2.5M
Quantinno Capital Management LP	+34K +64.9%	86K	$2.7M
BNP Paribas Financial Markets	+31K +383.6%	39K	$1.2M
Millennium Management LLC Hedge fund	+29K +321.4%	39K	$1.2M
Ieq Capital, LLC	+29K +110.3%	55K	$1.7M
FMR LLC Active manager	+25K +311.1%	34K	$1M
Xtx Topco Ltd	+19K +46.2%	61K	$1.9M
Varcov Co.	+15K New position	15K	$478,210
Engineers Gate Manager LP Hedge fund	+15K New position	15K	$466,927
Wealth Enhancement Advisory Services, LLC	+15K New position	15K	$457,163

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Schroder Investment Management Group Active manager	+1.4M +145.5%	2.3M	$71.3M
AQR Capital Management LLC Hedge fund	+290K +159.4%	472K	$14.7M
Pzena Investment Management LLC Active manager	+128K +6.4%	2.1M	$66.7M
Two Sigma Investments, LP Hedge fund	+127K +29.9%	551K	$17.2M
Jacobs Levy Equity Management, Inc Active manager	+113K +70.9%	273K	$8.5M
Exoduspoint Capital Management, LP Hedge fund	+84K New position	84K	$2.6M
Winton Group Ltd Hedge fund	+34K +74.3%	80K	$2.5M
Millennium Management LLC Hedge fund	+29K +321.4%	39K	$1.2M
FMR LLC Active manager	+25K +311.1%	34K	$1M
Engineers Gate Manager LP Hedge fund	+15K New position	15K	$466,927

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Algert Global LLC Hedge fund	−412K Sold out	0	—
Blackrock, Inc. Index funds	−311K −7.9%	3.6M	$113M
Cx Institutional	−208K −99.9%	161	$5,000
Qube Research & Technologies Ltd Hedge fund	−178K −58.1%	128K	$4M
Tudor Investment Corp Et Al Hedge fund	−100K Sold out	0	—
Pacer Advisors, Inc.	−91K Sold out	0	—
Sei Investments Co	−89K −54.5%	75K	$2.3M
D. E. Shaw & Co., Inc. Hedge fund	−82K −50.1%	82K	$2.6M
Vanguard Portfolio Management LLC Index funds	−77K −3.0%	2.5M	$77.7M
Deprince Race & Zollo Inc Active manager	−74K −28.8%	183K	$5.7M
Nuveen, LLC	−52K −29.5%	124K	$3.9M
Point72 Asset Management, L.P. Hedge fund	−46K Sold out	0	—
Royce & Associates LP Active manager	−42K −8.1%	470K	$14.7M
Vanguard Capital Management LLC Index funds	−39K −3.7%	1.0M	$31.8M
Russell Investments Group, Ltd.	−37K −16.4%	189K	$5.9M
Trexquant Investment LP Hedge fund	−35K −37.9%	57K	$1.8M
State Of Wisconsin Investment Board	−33K −75.4%	11K	$334,361
Citadel Advisors LLC Hedge fund	−32K Sold out	0	—
Charles Schwab Investment Management Inc Index funds	−29K −6.7%	405K	$12.6M
HSBC Holdings PLC	−26K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Algert Global LLC Hedge fund	−412K Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−178K −58.1%	128K	$4M
Tudor Investment Corp Et Al Hedge fund	−100K Sold out	0	—
D. E. Shaw & Co., Inc. Hedge fund	−82K −50.1%	82K	$2.6M
Deprince Race & Zollo Inc Active manager	−74K −28.8%	183K	$5.7M
Point72 Asset Management, L.P. Hedge fund	−46K Sold out	0	—
Royce & Associates LP Active manager	−42K −8.1%	470K	$14.7M
Trexquant Investment LP Hedge fund	−35K −37.9%	57K	$1.8M
Citadel Advisors LLC Hedge fund	−32K Sold out	0	—
Renaissance Technologies LLC Hedge fund	−20K −8.9%	200K	$6.2M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Exoduspoint Capital Management, LPHedge fund	84K	$2.6M
State Of New Jersey Common Pension Fund D	41K	$1.3M
Varcov Co.	15K	$478,210
Engineers Gate Manager LPHedge fund	15K	$466,927
Wealth Enhancement Advisory Services, LLC	15K	$457,163
Allstate Corp	13K	$418,520
Brevan Howard Capital Management LPHedge fund	12K	$370,954
Squarepoint Ops LLCHedge fund	11K	$345,644
Mirabella Financial Services LLP	10K	$316,407
Neuberger Berman Group LLCActive manager	9,693	$302,131

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Algert Global LLCHedge fund	412K	$11M
Tudor Investment Corp Et AlHedge fund	100K	$2.7M
Pacer Advisors, Inc.	91K	$2.4M
Point72 Asset Management, L.P.Hedge fund	46K	$1.2M
Citadel Advisors LLCHedge fund	32K	$852,795
HSBC Holdings PLC	26K	$679,582
Entrypoint Capital, LLC	19K	$513,772
Gotham Asset Management, LLCHedge fund	7,885	$209,662
Cornerstone Investment Partners, LLC	7,668	$203,892
BNP Paribas Asset Management Holding S.A.	712	$18,932

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 187
Ten largest holders: 69.7%
Index fund managers: 42.1%
Active managers and hedge funds: 32.1%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	16	14	5	5	+1.2M	+19.1%
Index fund managers	4	5	0	0	−424K	−4.2%
Other institutions	77	58	26	12	−81K	−1.4%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Marcus & Millichap.

Only managers that filed a holdings report for both quarters are compared (200 here). 7 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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