Based on 85 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added MDV 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
85 hedge funds hold MDV 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.
🚀
Fast accumulation — +52% more funds vs a year ago
fund count last 6Q
+29 new funds entered over the past year (+52% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 67% buying
44 buying22 selling
Last quarter: 44 funds were net buyers (17 opened a brand new position + 27 added to an existing one). Only 22 were sellers (15 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new MDV position: 23 → 17 → 7 → 17. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 33% entered in last year
■ 21% conviction (2yr+)
■ 46% medium
■ 33% new
Only 18 funds (21%) 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.
📊
Peak discovery — momentum slowing
9 → 23 → 17 → 7 → 17 new funds/Q
New funds entering each quarter: 23 → 17 → 7 → 17. MDV 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 — 26% veterans, 48% new entrants
■ 26% veterans
■ 26% 1-2yr
■ 48% new
Of 85 current holders: 22 (26%) held 2+ years, 22 held 1–2 years, 41 (48%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
26 of 85 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.