Based on 42 hedge funds · latest filing: 2025 Q4 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🔻
Below peak — only 30% of 3.0Y high
30% of all-time peak
Only 42 funds hold this stock today versus a peak of 138 funds at 2023 Q2 — just 30% 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.
📉
Outflows — 64% fewer funds vs a year ago
fund count last 6Q
74 fewer hedge funds hold this stock compared to a year ago (-64% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 35% buying
19 buying36 selling
Last quarter: 36 funds sold vs only 19 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
📈
More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 27 → 11 → 5 → 16. A growing number of new institutional buyers means the stock is still being discovered — the opportunity hasn't been fully priced in.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 24% medium
■ 21% new
23 out of 42 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
💰
Price up while funds trimmed (+156% value, -28% shares)
Last quarter: total value of institutional MRSN holdings rose +156% even though funds reduced share count by 28%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
23 → 27 → 11 → 5 → 16 new funds/Q
New funds entering each quarter: 27 → 11 → 5 → 16. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
🏛️
Deep conviction — 70% of holders stayed 2+ years
■ 70% veterans
■ 2% 1-2yr
■ 28% new
Of 43 current holders: 30 (70%) 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 — 24% from major AUM funds
24% from top-100 AUM funds
10 of 42 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 1.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.