MARCUS & MILLICHAP INC MMI
COM · Common Stock · CUSIP 566324109
American real estate company
- SectorReal estate
- IndustryReal Estate Agents & Managers (For Others)
- HeadquartersCalabasas, CA
- Founded1971
- Websitemarcusmillichap.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.2m this quarter). Holder counts are more reliable. Shares outstanding: 37.9m as of 2026-08-03, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $31.17. Options: 2 managers hold calls ($408.3k notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 183 |
| Q4 2022 | 177 |
| Q1 2023 | 161 |
| Q2 2023 | 151 |
| Q3 2023 | 148 |
| Q4 2023 | 151 |
| Q1 2024 | 160 |
| Q2 2024 | 156 |
| Q3 2024 | 166 |
| Q4 2024 | 166 |
| Q1 2025 | 172 |
| Q2 2025 | 171 |
| Q3 2025 | 175 |
| Q4 2025 | 192 |
| Q1 2026 | 172 |
| Q2 2026 | 188 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 79 | 71 |
| Q4 2024 | 68 | 70 |
| Q1 2025 | 73 | 74 |
| Q2 2025 | 78 | 76 |
| Q3 2025 | 93 | 63 |
| Q4 2025 | 104 | 85 |
| Q1 2026 | 106 | 93 |
| Q2 2026 | 98 | 77 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $0 | $0 | — |
| Q4 2025 | $0 | $0 | — |
| Q1 2026 | $0 | $0 | — |
| Q2 2026 | $408.3k | $0 | 0.00 |
Biggest buyers
| SCHRODER INVESTMENT MANAGEMENT GROUP | Added | +1.4m |
| AQR CAPITAL MANAGEMENT LLC | Added | +290.2k |
| PZENA INVESTMENT MANAGEMENT LLC | Added | +128.2k |
| TWO SIGMA INVESTMENTS, LP | Added | +126.8k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Added | +113.1k |
| UBS Group AG | Added | +111.2k |
| ExodusPoint Capital Management, LP | New | +83.6k |
| BANK OF AMERICA CORP /DE/ | Added | +78.0k |
| State of New Jersey Common Pension Fund D | New | +41.3k |
| HRT FINANCIAL LP | Added | +35.3k |
Biggest sellers
| ALGERT GLOBAL LLC | Sold out | -411.8k |
| BlackRock, Inc. | Reduced | -310.8k |
| CX Institutional | Reduced | -208.1k |
| Qube Research & Technologies Ltd | Reduced | -177.8k |
| TUDOR INVESTMENT CORP ET AL | Sold out | -100.4k |
| Pacer Advisors, Inc. | Sold out | -90.7k |
| SEI INVESTMENTS CO | Reduced | -89.2k |
| D. E. Shaw & Co., Inc. | Reduced | -82.3k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Reduced | -76.6k |
| DEPRINCE RACE & ZOLLO INC | Reduced | -74.1k |
Biggest calls
| JANE STREET GROUP, LLC | New | $367.8k11.8k shares |
| SIMPLEX TRADING, LLC | New | $40.5k1.3k shares |
Biggest puts
| None |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-10-27 | 8.9% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.8% |
| SCHRODER INVESTMENT MANAGEMENT GROUP 13G · institution new · filed 2026-08-12 | 6.0% |
| PZENA INVESTMENT MANAGEMENT LLC 13G · institution new · filed 2026-04-17 | 5.3% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), REINHART PARTNERS, LLC. (—, 2026-02-12)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 1 | $133.1k | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 1 | $49.9k | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 1 | $33.3k | — |
| Q2 2026 | 0 | — | 1 | $15.2k | — |
| Q3 2026 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-06-11 | Nadji Hessam Chief Executive Officer, director | Sold | $15.2k500 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 3.6m $112.8m | Reduced -310.8k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 2.5m $77.7m | Reduced -76.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.05% of their portfolio | 2.3m $71.3m | Added +1.4m |
| PZENA INVESTMENT MANAGEMENT LLC 0.20% of their portfolio | 2.1m $66.7m | Added +128.2k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.5m $46.4m | Added +7.4k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.0m $31.8m | Reduced -38.9k |
| STATE STREET CORP 0.00% of their portfolio | 949.4k $29.6m | Added +11.2k |
| Tributary Capital Management, LLC 1.90% of their portfolio | 740.6k $23.1m | Reduced -21.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 659.3k $20.6m | Added +14.2k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 551.1k $17.2m | Added +126.8k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 472.3k $14.7m | Added +290.2k |
| ROYCE & ASSOCIATES LP 0.12% of their portfolio | 470.0k $14.7m | Reduced -41.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 404.7k $12.6m | Reduced -28.9k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.03% of their portfolio | 272.7k $8.5m | Added +113.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 256.1k $8.0m | Added +11.8k |
| SPROTT INC. 0.22% of their portfolio | 210.0k $6.5m | Unchanged |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 200.2k $6.2m | Reduced -19.5k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 189.0k $5.9m | Reduced -37.0k |
| DEPRINCE RACE & ZOLLO INC 0.10% of their portfolio | 183.1k $5.7m | Reduced -74.1k |
| MORGAN STANLEY 0.00% of their portfolio | 182.8k $5.7m | Reduced -2.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 178.9k $5.6m | Added +9.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 170.1k $5.3m | Added +11.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 165.4k $5.2m | Added +1.3k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 154.4k $4.8m | Added +3.1k |
| UBS Group AG 0.00% of their portfolio | 154.3k $4.8m | Added +111.2k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 128.4k $4.0m | Reduced -177.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 127.2k $4.0m | Added +78.0k |
| Nuveen, LLC 0.00% of their portfolio | 123.9k $3.9m | Reduced -51.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 113.3k $3.5m | Reduced -2.5k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 109.5k $3.4m | Added +12.5k |
| Mariner, LLC 0.00% of their portfolio | 93.7k $2.9m | Reduced -9.2k |
| HRT FINANCIAL LP 0.01% of their portfolio | 87.4k $2.7m | Added +35.3k |
| Quantinno Capital Management LP 0.00% of their portfolio | 85.6k $2.7m | Added +33.7k |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 83.6k $2.6m | New |
| Invesco Ltd. 0.00% of their portfolio | 83.4k $2.6m | Added +539 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 83.2k $2.6m | Reduced -15.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 82.1k $2.6m | Reduced -82.3k |
| Public Sector Pension Investment Board 0.01% of their portfolio | 80.5k $2.5m | Reduced -4.7k |
| WINTON GROUP Ltd 0.08% of their portfolio | 79.8k $2.5m | Added +34.0k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 74.6k $2.3m | Reduced -89.2k |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 70.1k $2.2m | Added +2.1k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 66.4k $2.1m | Reduced -2.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 65.1k $2.0m | Reduced -2.6k |
| XTX Topco Ltd 0.02% of their portfolio | 61.1k $1.9m | Added +19.3k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 60.9k $1.9m | Reduced -9.1k |
| Trexquant Investment LP 0.01% of their portfolio | 57.3k $1.8m | Reduced -34.9k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 55.5k $1.7m | Added +5.0k |
| IEQ CAPITAL, LLC 0.01% of their portfolio | 54.7k $1.7m | Added +28.7k |
| Legal & General Group Plc 0.00% of their portfolio | 52.5k $1.6m | Reduced -2.6k |
| Creative Planning 0.00% of their portfolio | 49.3k $1.5m | Added +9.1k |
| Swiss National Bank 0.00% of their portfolio | 45.8k $1.4m | Reduced -3.5k |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 41.3k $1.3m | New |
| BARCLAYS PLC 0.00% of their portfolio | 39.3k $1.2m | Reduced -3.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 39.2k $1.2m | Added +31.1k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 38.6k $1.2m | Added +29.4k |
| NATIXIS ADVISORS, LLC 0.00% of their portfolio | 35.0k $1.1m | Reduced -887 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 34.2k $1.1m | Added +161 |
| FMR LLC 0.00% of their portfolio | 33.6k $1.0m | Added +25.4k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 33.1k $1.0m | Reduced -3.2k |
| LPL Financial LLC 0.00% of their portfolio | 31.1k $969.4k | Added +818 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 30.9k $821.7k | Added +9 |
| FIRST NATIONAL BANK OF OMAHA 0.02% of their portfolio | 24.7k $771.1k | Added +86 |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 24.3k $758.7k | Reduced -1.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 24.1k $752.7k | Reduced -769 |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 23.7k $740.0k | Added +793 |
| Hunter Perkins Capital Management, LLC 0.17% of their portfolio | 23.7k $738.0k | Unchanged |
| Verdad Advisers, LP 0.66% of their portfolio | 22.0k $684.9k | Added +6.4k |
| Inspire Investing, LLC 0.03% of their portfolio | 21.8k $678.9k | Added +2.5k |
| PANAGORA ASSET MANAGEMENT INC 0.00% of their portfolio | 21.3k $665.0k | Reduced -13.3k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 20.5k $637.5k | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 19.1k $596.0k | Added +685 |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 18.7k $585.0k | Reduced -2.0k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 18.6k $581.1k | Added +9.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 17.3k $571.5k | Reduced -4.3k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 16.9k $525.2k | Unchanged |
| Aigen Investment Management, LP 0.14% of their portfolio | 16.7k $519.8k | Added +5.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 15.7k $490.8k | Added +7.4k |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 15.4k $480.0k | Reduced -502 |
| VARCOV Co. 0.18% of their portfolio | 15.3k $478.2k | New |
| Engineers Gate Manager LP 0.01% of their portfolio | 15.0k $466.9k | New |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 14.9k $457.2k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 14.1k $438.3k | Unchanged |
| Campbell & CO Investment Adviser LLC 0.02% of their portfolio | 14.0k $437.9k | Added +3.7k |
| ALLSTATE CORP 0.00% of their portfolio | 13.4k $418.5k | New |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 13.1k $409.0k | Added +397 |
| Cerity Partners LLC 0.00% of their portfolio | 12.7k $395.0k | Added +3.2k |
| Brevan Howard Capital Management LP 0.01% of their portfolio | 11.9k $371.0k | New |
| Illinois Municipal Retirement Fund 0.00% of their portfolio | 11.8k $368.2k | Reduced -890 |
| Susquehanna Portfolio Strategies, LLC 0.01% of their portfolio | 11.5k $358.3k | Reduced -5.6k |
| CITIGROUP INC 0.00% of their portfolio | 11.5k $357.7k | Added +7.7k |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 11.1k $346.6k | Reduced -374 |
| DARK FOREST CAPITAL MANAGEMENT LP 0.02% of their portfolio | 11.1k $346.4k | Reduced -11.3k |
| Squarepoint Ops LLC 0.00% of their portfolio | 11.1k $345.6k | New |
| RBF Capital, LLC 0.01% of their portfolio | 11.0k $342.9k | Unchanged |
| Diametric Capital, LP 0.04% of their portfolio | 10.9k $340.8k | Reduced -6.0k |
| Jupiter Topco LLC 0.00% of their portfolio | 10.9k $339.7k | First filing |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 10.7k $334.4k | Reduced -32.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 10.6k $331.0k | Reduced -632 |
| Louisiana State Employees Retirement System 0.00% of their portfolio | 10.3k $321.1k | Reduced -300 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 10.2k $317.9k | Added +3.4k |