Investment Manager Closes the Book on Real Estate Stock, According to Recent SEC Filing

3 days ago 11

Jake Lerch, The Motley Fool

Thu, February 12, 2026 astatine 9:05 AM CST 4 min read

On February 10, 2026, Reinhart Partners, LLC. disclosed successful an SEC filing that it sold each 2,208,439 shares of Marcus & Millichap (NYSE:MMI), an estimated $64.82 cardinal transaction based connected quarterly mean pricing.

According to an SEC filing dated February 10, 2026, Reinhart Partners, LLC. sold each 2,208,439 shares of Marcus & Millichap successful the astir caller quarter. The estimated worth of the transaction was $64.82 million, calculated utilizing the mean stock terms for the quarter. This merchantability brought the fund’s presumption successful Marcus & Millichap to zero astatine 4th end. The presumption worth alteration was $64.82 million, matching the magnitude of the sale.

The money afloat exited its Marcus & Millichap stake, reducing its vulnerability by 1.94% of 13F reportable AUM this quarter.

Top holdings aft the filing:

NASDAQ: FCNCA: $167.04 cardinal (5.0% of AUM)
NASDAQ: SIMO: $145.85 cardinal (4.4% of AUM)
NYSE: YETI: $134.08 cardinal (4.0% of AUM)
NASDAQ: IDCC: $132.97 cardinal (4.0% of AUM)
NASDAQ: ACLS: $127.73 cardinal (3.8% of AUM)

As of February 10, 2026, shares of Marcus & Millichap were priced astatine $27.22, down 26.4% implicit the past year, underperforming the S&P 500 by 40.8 percent points.

Metric

Value

Market capitalization	$1.06 billion
Revenue (TTM)	$751.28 million
Net income (TTM)	($6.67 million)
Dividend yield	1.89%

Provides commercialized existent property concern sales, financing, research, and advisory services crossed multifamily, retail, office, industrial, and specialized spot types
Generates gross chiefly done brokerage commissions and fees from facilitating spot transactions and arranging financing solutions
Serves existent property owners, investors, developers, existent property concern trusts, precocious nett worthy individuals, and organization clients successful the United States and Canada

Marcus & Millichap is simply a starring existent property concern brokerage and advisory institution with a nationalist footprint and a diversified work offering. The institution leverages heavy marketplace expertise and a wide web to facilitate spot income and supply superior markets solutions. Its integrated level and specialized probe capabilities enactment a competitory borderline successful serving a wide scope of commercialized existent property clients.

Reinhart Partners LLC, a Wisconsin-based concern absorption firm, precocious disclosed that it liquidated its full involvement successful Marcus & Millichap, a existent property concern brokerage, during the 4th fourth (the 3 months ending connected Dec. 31, 2025). Reinhart’s involvement successful Marcus & Millichap was valued astatine astir $65 million. Here’s what investors request to cognize astir this sale.