Based on 187 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.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
187 hedge funds hold MRX right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀
Fast accumulation — +75% more funds vs a year ago
fund count last 6Q
+80 new funds entered over the past year (+75% 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.
🟡
Slight buying edge — 53% buying
117 buying102 selling
Last quarter: 117 funds bought or added vs 102 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.
➡️
Steady new buyers — ~41 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 34 → 93 → 43 → 41. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 37% long-term, 33% new
■ 37% conviction (2yr+)
■ 30% medium
■ 33% new
Of the 187 current holders: 69 (37%) held >2 years, 56 held 1–2 years, and 62 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.
📊
Peak discovery — momentum slowing
42 → 34 → 93 → 43 → 41 new funds/Q
New funds entering each quarter: 34 → 93 → 43 → 41. MRX 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 — 43% of holders stayed 2+ years
■ 43% veterans
■ 14% 1-2yr
■ 42% new
Of 189 current holders: 82 (43%) 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 — 34% AUM from major funds
34% from top-100 AUM funds
33 of 187 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.