Based on 11 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MAXI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 69% of 3.0Y high
69% of all-time peak
Only 11 funds hold MAXI today versus a peak of 16 funds at 2026 Q1 — just 69% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📶
Steady growth — +10% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+10% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 44% buying
7 buying9 selling
Last quarter: 9 funds reduced or exited vs 7 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 4 → 6 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 36% entered in last year
■ 18% conviction (2yr+)
■ 45% medium
■ 36% new
Only 2 funds (18%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares -0%, value -15%
Last quarter: funds added -0% more shares while total portfolio value only changed -15%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
4 → 5 → 4 → 6 → 1 new funds/Q
New funds entering each quarter: 5 → 4 → 6 → 1. MAXI is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 18% veterans, 45% new entrants
■ 18% veterans
■ 36% 1-2yr
■ 45% new
Of 11 current holders: 2 (18%) held 2+ years, 4 held 1–2 years, 5 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
1 of 11 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.