Based on 48 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added MRSN 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.
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Below peak — only 32% of 3.0Y high
32% of all-time peak
Only 48 funds hold MRSN today versus a peak of 149 funds at 2023 Q2 — just 32% 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.
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Outflows — 62% fewer funds vs a year ago
fund count last 6Q
80 fewer hedge funds hold MRSN compared to a year ago (-62% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 35% buying
21 buying39 selling
Last quarter: 39 funds sold vs only 21 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new MRSN position: 33 → 12 → 5 → 18. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 27% medium
■ 21% new
25 out of 48 hedge funds have held MRSN 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.
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Price up while funds trimmed (+161% value, -30% shares)
Last quarter: total value of institutional MRSN holdings rose +161% even though funds reduced share count by 30%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Peak discovery — momentum slowing
27 → 33 → 12 → 5 → 18 new funds/Q
New funds entering each quarter: 33 → 12 → 5 → 18. MRSN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 2% 1-2yr
■ 33% new
Of 49 current holders: 32 (65%) 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.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
12 of 48 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.