Based on 197 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MOO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (99% of max)
99% of all-time peak
197 hedge funds hold MOO 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 — +13% more funds vs a year ago
fund count last 6Q
+23 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 sellers than buyers — 48% buying
85 buying91 selling
Last quarter: 91 funds reduced or exited vs 85 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.
⚠️
Fewer new buyers each quarter (-17 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 16 → 20 → 51 → 34. 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.
🔒
61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 17% medium
■ 22% new
121 out of 197 hedge funds have held MOO 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.
🚀
Acceleration phase — new buyers rushing in
26 → 16 → 20 → 51 → 34 new funds/Q
New funds entering each quarter: 16 → 20 → 51 → 34. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Veteran-anchored — 71% veterans vs 20% newcomers
■ 71% veterans
■ 9% 1-2yr
■ 20% new
Entry-cohort mix of 201 holders: 142 (71%) are 2+ year veterans, 19 entered 1–2 years ago, and 40 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
23 of 195 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.