Based on 295 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added MCHI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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At the ownership peak (99% of max)
99% of all-time peak
295 hedge funds hold MCHI right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Steady growth — +10% more funds vs a year ago
fund count last 6Q
+27 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.
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Slight buying edge — 55% buying
150 buying122 selling
Last quarter: 150 funds bought or added vs 122 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~45 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 53 → 52 → 47 → 45. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 25% medium
■ 18% new
167 out of 295 hedge funds have held MCHI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Steady discovery — ~45 new funds/quarter
31 → 53 → 52 → 47 → 45 new funds/Q
New funds entering each quarter: 53 → 52 → 47 → 45. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 65% veterans vs 22% newcomers
■ 65% veterans
■ 13% 1-2yr
■ 22% new
Entry-cohort mix of 299 holders: 195 (65%) are 2+ year veterans, 39 entered 1–2 years ago, and 65 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
39 of 291 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in MCHI. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.