Based on 17 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added MIGI 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.
📊
High ownership — 89% of 3.0Y peak
89% of all-time peak
17 funds currently hold this stock — 89% of the 3.0-year high of 19 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +13% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 94% buying
16 buying1 selling
Last quarter: 16 funds were net buyers (8 opened a brand new position + 8 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 0 → 4 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 35% long-term, 41% new
■ 35% conviction (2yr+)
■ 24% medium
■ 41% new
Of the 17 current holders: 6 (35%) held >2 years, 4 held 1–2 years, and 7 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.
💰
Value +3357% but shares only +672% — price-driven
Last quarter: the total dollar value of institutional holdings rose +3357%, but actual share count only changed +672%. 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 — ~8 new funds/quarter
5 → 2 → 0 → 4 → 8 new funds/Q
New funds entering each quarter: 2 → 0 → 4 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 47% veterans vs 35% newcomers
■ 47% veterans
■ 18% 1-2yr
■ 35% new
Entry-cohort mix of 17 holders: 8 (47%) are 2+ year veterans, 3 entered 1–2 years ago, and 6 (35%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
7 of 17 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.