Vanguard Portfolio Management (MMI) discloses 6.76% ownership in Marcus & Millichap

Rhea-AI Filing Summary

Vanguard Portfolio Management filed a Schedule 13G reporting beneficial ownership of 2,577,259 shares of Marcus & Millichap Inc Common Stock, representing 6.76% of the class. The filing shows sole dispositive power over 2,577,259 shares and sole voting power for 9,213 shares. The disclosure notes ownership on behalf of Vanguard funds and managed accounts.

Insights

Institutional Ownership Analyst

Vanguard holds a sizable 6.76% stake in Marcus & Millichap as a fiduciary manager.

Vanguard Portfolio Management reports beneficial ownership of 2,577,259 shares with sole dispositive power; voting authority is limited to 9,213 shares. This pattern commonly reflects pooled fund holdings where sale decisions rest with the portfolio manager.

Impact depends on future voting alignment and fund flows; subsequent filings may show changes in percent ownership or voting power.

Governance & Proxy Specialist

Filing is a standard Section 13 disclosure of a >5% passive holding.

The Schedule 13G identifies Vanguard Portfolio Management and affiliates as the reporting persons, noting rights to dividends or proceeds via managed accounts and Vanguard funds. The statement clarifies no other single person holds >5% of the reported securities.

Shareholders may watch annual meeting materials where Vanguard's voting may be exercised.

Key Figures

Beneficially owned shares: 2,577,259 shares Percent of class: 6.76% Sole voting power: 9,213 shares +2 more

5 metrics

Beneficially owned shares 2,577,259 shares Amount beneficially owned reported on Schedule 13G

Percent of class 6.76% Percent of Common Stock reported in Item 4(b)

Sole voting power 9,213 shares Sole power to vote reported in Item 4(c)(i)

Sole dispositive power 2,577,259 shares Sole power to dispose reported in Item 4(c)(iii)

CUSIP 566324109 CUSIP number listed for Common Stock

Key Terms

Beneficially owned, Dispositive power, Schedule 13G, Investment Company Act of 1940

4 terms

Beneficially owned regulatory

"Amount beneficially owned: 2577259"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 2577259"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Schedule 13G regulatory

"Item 1. (a) Name of issuer: Marcus & Millichap Inc"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Investment Company Act of 1940 regulatory

"investment company registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Marcus & Millichap Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

566324109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 566324109

1

Names of Reporting Persons

Vanguard Portfolio Management

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,213.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,577,259.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,577,259.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.76 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Marcus & Millichap Inc
(b)	Address of issuer's principal executive offices: 23975 Park Sorrento, Suite 400, Calabasas, CA, 91302
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 566324109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2577259
(b)	Percent of class: 6.76 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9213
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2577259
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

What stake does Vanguard Portfolio Management report in Marcus & Millichap (MMI)?

Vanguard reports beneficial ownership of 2,577,259 shares, equal to 6.76% of Marcus & Millichap's Common Stock. The filing shows dispositive power over all 2,577,259 shares and sole voting power for 9,213 shares.

Does Vanguard control voting for all the shares it reports in MMI?

No. The filing shows sole voting power over 9,213 shares while holding dispositive power for 2,577,259 shares. That indicates voting authority is limited relative to the full beneficial position.

Is Vanguard reporting these shares on behalf of funds or clients?

Yes. The disclosure states Vanguard Portfolio Management exercises dispositive power for Vanguard funds and managed accounts, and the filing lists affiliated entities like Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC as part of the reporting group.

Does anyone else hold more than 5% of MMI according to the filing?

No. The filing states that no other single person's interest reported herein exceeds 5%. It also notes that shareholders of registered investment companies need not be listed individually.

What CUSIP and class are reported in the Schedule 13G?

The Schedule 13G reports Common Stock of Marcus & Millichap Inc with CUSIP 566324109. The filing identifies the class as Common Stock in Item 2(d).