
What smart money is saying about MarketAxess Holdings
4 funds in our archive have pitched MarketAxess Holdings — most recently Heartland Advisors Mid Cap Value Fund in June 2026.
MarketAxess Holdings Inc. develops and operates a premier electronic trading platform, serving institutional investors and broker-dealers globally. This platform provides essential access to deep liquidity across a broad spectrum of fixed-income assets, including U.S. investment-grade and high-yield corporate bonds, U.S. Treasuries, municipal bonds, emerging market debt, and Eurobonds, among other debt securities. Through its innovative Open Trading protocols, the company facilitates anonymous, "all-to-all" corporate bond transactions between its diverse client base. Beyond its core trading capabilities, MarketAxess offers a comprehensive array of value-added products and services. These include Composite+ pricing and other sophisticated market data tools designed to inform trading strategies, as well as auto-execution and custom workflow solutions. The company also provides robust connectivity to ensure straight-through processing and specialized technology services aimed at optimizing trading environments. Additionally, MarketAxess delivers vital pre- and post-trade support, covering trade matching, publication, regulatory reporting, and extensive market and reference data for a wide range of financial instruments. Founded in 2000, MarketAxess Holdings Inc. maintains its headquarters in New York, New York.
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Position history
Between Q2 2025 and Q3 2026, 3 fund letters reported a position in MarketAxess Holdings — 2 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 2 | 2 | 0 | 2 |
| Q4 2025 | 0 | 0 | 0 | 1 |
| Q2 2025 | 0 | 0 | 0 | 1 |
Fund activity · 3 positions · 2 moves
- HoldsUpslope Capital Long/Short StrategyJuly 2026
“MarketAxess (MKTX): Challenged member of fixed income/credit “exchange” duopoly.”
Read the letterMarketAxess Holdings - New positionHeartland Advisors Mid Cap Value FundJune 2026
“While ON was one of the Fund's top contributor last quarter, the biggest detractor to our Strategy's performance was MarketAxess Holdings (MKTX) , a position we initiated in the first quarter and built in the second quarter.”
Read the letterMarketAxess Holdings - New positionHeartland Advisors Opportunistic Value Equity StrategyJune 2026
“While TXN was one of our top contributors last quarter, the biggest detractor to our Strategy’s performance was MarketAxess Holdings (MKTX) , a position we initiated in the first quarter and built in the second quarter.”
Read the letterMarketAxess Holdings
Fund coverage · 4 theses
- Heartland Advisors Mid Cap Value FundJune 2026
MarketAxess operates the largest U.S. corporate bond e-trading platform and offers operating leverage, market-share gains, scale advantages, and an attractive valuation.
Read the full thesis - Heartland Advisors Opportunistic Value Equity StrategyJune 2026
MarketAxess operates the largest U.S. corporate bond e-trading platform and is seen as attractively valued with operating leverage, market share gains, and scale advantages supporting a multi-year profit growth cycle.
Read the full thesis - Heartland Mid Cap Value FundDecember 2025
MarketAxess Holdings is the leading U.S. electronic corporate bond trading platform with strong margins, renewed share gains under new leadership, international growth opportunities, and a valuation discount relative to exchange peers.
Read the full thesis - LRT Capital ManagementJune 2025
MarketAxess Holdings Inc. is a leader in electronic trading of fixed-income securities, leveraging a self-reinforcing network effect and advanced technology to enhance transparency, liquidity, and efficiency in the corporate bond market.
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