Based on 59 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added MNR 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.
🔻
Below peak — only 28% of 3.0Y high
28% of all-time peak
Only 59 funds hold MNR today versus a peak of 208 funds at 2021 Q4 — just 28% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
🚀
Fast accumulation — +37% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+37% 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.
🟡
Slight buying edge — 52% buying
32 buying29 selling
Last quarter: 32 funds bought or added vs 29 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.
➡️
Steady new buyers — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 16 → 15 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 15% medium
■ 34% new
30 out of 59 hedge funds have held MNR 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.
💎
Buying through price weakness — shares +1%, value -15%
Last quarter: funds added +1% more shares while total portfolio value only changed -15%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
10 → 10 → 16 → 15 → 15 new funds/Q
New funds entering each quarter: 10 → 16 → 15 → 15. A growing number of institutions are discovering MNR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 60% of holders stayed 2+ years
■ 60% veterans
■ 3% 1-2yr
■ 37% new
Of 60 current holders: 36 (60%) 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 — 20% AUM from major funds
20% from top-100 AUM funds
12 of 59 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.