Based on 24 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MIRA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 83% of 3.0Y peak
83% of all-time peak
24 funds currently hold this stock — 83% of the 3.0-year high of 29 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+3 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 — 53% buying
9 buying8 selling
Last quarter: 9 funds bought or added vs 8 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.
⚠️
Fewer new buyers each quarter (-9 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 4 → 5 → 10 → 1. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 29% entered in last year
■ 8% conviction (2yr+)
■ 62% medium
■ 29% new
Only 2 funds (8%) 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.
💰
Value +75% but shares only +57% — price-driven
Last quarter: the total dollar value of institutional holdings rose +75%, but actual share count only changed +57%. 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 — ~1 new funds/quarter
12 → 4 → 5 → 10 → 1 new funds/Q
New funds entering each quarter: 4 → 5 → 10 → 1. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 58% of holders entered in last year
■ 8% veterans
■ 33% 1-2yr
■ 58% new
Of 24 current holders: 14 (58%) entered in the past year, only 2 (8%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆
Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
8 of 24 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in MIRA. 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.