Based on 70 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added MESO 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 (100% of max)
100% of all-time peak
70 hedge funds hold MESO 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 — +17% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+17% 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 — 54% buying
37 buying31 selling
Last quarter: 37 funds bought or added vs 31 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 — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 15 → 12 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 31% entered in last year
■ 14% conviction (2yr+)
■ 54% medium
■ 31% new
Only 10 funds (14%) 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.
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Value +40% but shares only +24% — price-driven
Last quarter: the total dollar value of institutional holdings rose +40%, but actual share count only changed +24%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Peak discovery — momentum slowing
24 → 15 → 15 → 12 → 11 new funds/Q
New funds entering each quarter: 15 → 15 → 12 → 11. MESO is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 6% veterans, 48% new entrants
■ 6% veterans
■ 45% 1-2yr
■ 48% new
Of 77 current holders: 5 (6%) held 2+ years, 35 held 1–2 years, 37 (48%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
15 of 70 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.