Based on 14 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MRGR 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 — 88% of 3.0Y peak
88% of all-time peak
14 funds currently hold this stock — 88% of the 3.0-year high of 16 funds (reached 2025 Q4). 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
+3 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 buyers than sellers — 64% buying
9 buying5 selling
Last quarter: 9 funds were net buyers (1 opened a brand new position + 8 added to an existing one). Only 5 were sellers (2 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 4 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 36% long-term, 29% new
■ 36% conviction (2yr+)
■ 36% medium
■ 29% new
Of the 14 current holders: 5 (36%) held >2 years, 5 held 1–2 years, and 4 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~1 new funds/quarter
3 → 2 → 2 → 4 → 1 new funds/Q
New funds entering each quarter: 2 → 2 → 4 → 1. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 36% veterans, 36% new entrants
■ 36% veterans
■ 29% 1-2yr
■ 36% new
Of 14 current holders: 5 (36%) held 2+ years, 4 held 1–2 years, 5 (36%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
4 of 14 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in MRGR. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.