MarketAxess Holdings Inc. (NASDAQ: MKTX) operates one of the leading electronic trading platforms for fixed income markets, with a strong focus on corporate bonds and credit products. Shares recently traded around $181 per share, giving the company a market value of roughly $6.7 billion.
After a challenging period for credit market activity, MarketAxess remains a high margin, asset light business with strong returns on capital. Reviewing who owns the stock and how insiders have been trading helps clarify how large investors and company leadership appear to be positioning today.
Who Are MarketAxess’ Top Shareholders?
MarketAxess’ shareholder base is led by large institutional investors that often hold through market cycles. Shifts among active managers can help reveal changing views on valuation, growth, and trading activity expectations.
- The Vanguard Group: 3,845,523 shares (10.35%), ~$697M value. Reduced its position by 505,304 shares (11.61%).
- PRIMECAP Management Company: 2,230,595 shares (6.00%), ~$404M value. Increased its position by 891,303 shares (66.55%).
- VanEck Associates Corporation: 1,948,633 shares (5.24%), ~$353M value. Added 119,036 shares (6.51%).
- HSBC Global Asset Management (UK): 1,798,766 shares (4.84%), ~$326M value. Added 1,749,162 shares (3,526.25%).
- Fidelity Management & Research Company: 1,581,539 shares (4.25%), ~$287M value. Reduced its stake by 151,026 shares (8.72%).
- BlackRock Institutional Trust Company: 1,480,355 shares (3.98%), ~$268M value. Cut its position by 561,577 shares (27.50%).
- T. Rowe Price Investment Management: 1,370,694 shares (3.69%), ~$248M value. Reduced holdings by 961,294 shares (41.22%).
- GuardCap Asset Management: 1,361,264 shares (3.66%), ~$247M value. Reduced its stake by 137,094 shares (9.15%).
- State Street Investment Management: 1,320,657 shares (3.55%), ~$239M value. Reduced its position by 212,039 shares (13.83%).
- AQR Capital Management: 951,088 shares (2.56%), ~$172M value. Added 192,626 shares (25.40%).
Ownership trends appear mixed. Several long term institutions trimmed exposure, which may reflect caution around near term trading activity or valuation, while sizable increases from PRIMECAP, HSBC, and AQR suggest some investors may be viewing recent weakness as an opportunity for investors.
Hedge Fund Highlights
One highlight from last quarter is Jefferies Financial Group, led by founder Richard Handler, which sharply increased its MarketAxess position by 444%. The firm now holds roughly $6.6M value of shares, which may indicate growing interest following the stock’s pullback.
Another notable move came from Squarepoint Ops, founded by Marc Deslauriers, which boosted its stake by 380% to approximately $15.4M value. The increase could reflect a more constructive view on MarketAxess’ longer term trading volume outlook.
Virtu Financial, co founded by Vincent Viola, also raised its position by 341%, bringing its holdings to about $1.9M value. While still small in absolute terms, the scale of the increase stands out.
Finally, Schonfeld Strategic Advisors, founded by Steven Schonfeld, lifted its MarketAxess stake by 266% to roughly $20.9M value, which appears meaningful and may signal selective confidence among multi strategy funds for investors.
Track the top shareholders of over 50,000 global stocks (It’s free) >>>
MarketAxess’ Recent Insider Trades
Insider trades can offer useful context, though they should be interpreted cautiously and without assuming intent. Recent filings show mostly small transactions across directors and officers, with activity leaning toward selling.
- Scott Pintoff (Officer): Sold ~$17.8K of shares.
- Carlos Mauricio Hernandez (Director): Reported offsetting acquisitions and dispositions totaling ~$1.3M value.
- Dean Berry (Officer): Acquired ~$4.7M value of shares at $0, which appears linked to equity compensation.
- Kevin M. McPherson (Officer): Sold ~$606K of shares across two transactions.
- Stephen P. Casper (Director): Sold ~$299K of shares.
- Emily Hope Portney (Director): Reported multiple $0 value acquisitions and dispositions tied to equity awards.
Insider activity appears modest and fragmented. Many transactions look compensation related or administrative, and trade sizes remain small relative to overall ownership for investors.
See recent insider trade data for over 50,000 global stocks (It’s free) >>>
What the Ownership & Insider Trade Data Tell Us
MarketAxess’ ownership profile appears balanced rather than one sided. Passive institutions continue to anchor the shareholder base, while active managers show differing views on valuation and growth.
Hedge fund positioning suggests selective interest at current price levels, though this is not widespread. Insider activity appears limited and does not point to strong conviction in either direction.
Overall, the data suggests MarketAxess continues to be viewed as a high quality platform business, but confidence around near term growth remains measured. This places greater emphasis on future trading volumes, margin durability, and market share trends for investors.
Value Any Stock in Under 60 Seconds (It’s Free)
With TIKR’s new Valuation Model tool, you can estimate a stock’s potential share price in under a minute.
All it takes is three simple inputs:
- Revenue Growth
- Operating Margins
- Exit P/E Multiple
From there, TIKR calculates the potential share price and total returns under Bull, Base, and Bear scenarios so you can quickly see whether a stock looks undervalued or overvalued.
If you’re not sure what to enter, TIKR automatically fills in each input using analysts’ consensus estimates, giving you a quick, reliable starting point.
See a stock’s true value in under 60 seconds (Free with TIKR) >>>
