Based on 79 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added MNA 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 — 93% of 3.0Y peak
93% of all-time peak
79 funds currently hold this stock — 93% of the 3.0-year high of 85 funds (reached 2023 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +27% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+27% 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 sellers than buyers — 49% buying
37 buying38 selling
Last quarter: 38 funds reduced or exited vs 37 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 13 → 15 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 23% medium
■ 16% new
48 out of 79 hedge funds have held MNA 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.
📈
Growing discovery — still being found
14 → 9 → 13 → 15 → 13 new funds/Q
New funds entering each quarter: 9 → 13 → 15 → 13. A growing number of institutions are discovering MNA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 66% of holders stayed 2+ years
■ 66% veterans
■ 8% 1-2yr
■ 27% new
Of 79 current holders: 52 (66%) 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 — 32% AUM from major funds
32% from top-100 AUM funds
8 of 79 holders rank in the top 100 by AUM, accounting for 32% 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.