Based on 121 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added MG 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
121 hedge funds hold MG 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.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+15 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 51% buying
58 buying56 selling
Last quarter: 58 funds bought or added vs 56 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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More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new MG position: 21 → 14 → 14 → 23. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 20% medium
■ 15% new
79 out of 121 hedge funds have held MG 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.
💰
Value +42% but shares only +11% — price-driven
Last quarter: the total dollar value of institutional holdings rose +42%, but actual share count only changed +11%. 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.
➡️
Steady discovery — ~23 new funds/quarter
18 → 21 → 14 → 14 → 23 new funds/Q
New funds entering each quarter: 21 → 14 → 14 → 23. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 8% 1-2yr
■ 21% new
Of 124 current holders: 88 (71%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 27% AUM from major funds
27% from top-100 AUM funds
27 of 121 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.