Based on 77 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 MRCC 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 — 94% of 3.0Y peak
94% of all-time peak
77 funds currently hold this stock — 94% of the 3.0-year high of 82 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding MRCC is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 52% buying
42 buying38 selling
Last quarter: 42 funds bought or added vs 38 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 (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 9 → 7 → 19 → 11. 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.
🔒
56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 19% medium
■ 25% new
43 out of 77 hedge funds have held MRCC 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 +34%, value -16%
Last quarter: funds added +34% more shares while total portfolio value only changed -16%. 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
7 → 9 → 7 → 19 → 11 new funds/Q
New funds entering each quarter: 9 → 7 → 19 → 11. A growing number of institutions are discovering MRCC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 10% 1-2yr
■ 31% new
Of 77 current holders: 45 (58%) 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.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
8 of 77 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.