Based on 13 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MBNE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 72% of 3.0Y peak
72% of all-time peak
13 funds currently hold this stock — 72% of the 3.0-year high of 18 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 24% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold MBNE compared to a year ago (-24% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
8 buying9 selling
Last quarter: 9 funds reduced or exited vs 8 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 — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 1 → 3 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 31% long-term, 8% new
■ 31% conviction (2yr+)
■ 62% medium
■ 8% new
Of the 13 current holders: 4 (31%) held >2 years, 8 held 1–2 years, and 1 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~3 new funds/quarter
4 → 2 → 1 → 3 → 3 new funds/Q
New funds entering each quarter: 2 → 1 → 3 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 31% veterans, 38% new entrants
■ 31% veterans
■ 31% 1-2yr
■ 38% new
Of 13 current holders: 4 (31%) held 2+ years, 4 held 1–2 years, 5 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 46% AUM from top-100 funds
46% from top-100 AUM funds
5 of 13 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in MBNE. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.