Based on 8 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 MRUS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 3% of 3.0Y high
3% of all-time peak
Only 8 funds hold MRUS today versus a peak of 258 funds at 2025 Q3 — just 3% 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 — 96% fewer funds vs a year ago
fund count last 6Q
177 fewer hedge funds hold MRUS compared to a year ago (-96% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 2% buying
6 buying252 selling
Last quarter: 252 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-99 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 25 → 45 → 101 → 2. 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.
📌
Mixed — 25% long-term, 25% new
■ 25% conviction (2yr+)
■ 50% medium
■ 25% new
Of the 8 current holders: 2 (25%) held >2 years, 4 held 1–2 years, and 2 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 — ~2 new funds/quarter
32 → 25 → 45 → 101 → 2 new funds/Q
New funds entering each quarter: 25 → 45 → 101 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 25% veterans, 50% new entrants
■ 25% veterans
■ 25% 1-2yr
■ 50% new
Of 8 current holders: 2 (25%) held 2+ years, 2 held 1–2 years, 4 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
0 of 8 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 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.