Based on 56 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added MTLS 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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High ownership — 75% of 3.0Y peak
75% of all-time peak
56 funds currently hold this stock — 75% of the 3.0-year high of 75 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 25% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold MTLS compared to a year ago (-25% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 52% buying
29 buying27 selling
Last quarter: 29 funds bought or added vs 27 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.
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Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 7 → 10 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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70% of holders stayed for 2+ years
■ 70% conviction (2yr+)
■ 18% medium
■ 12% new
39 out of 56 hedge funds have held MTLS 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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Buying through price weakness — shares +1%, value -35%
Last quarter: funds added +1% more shares while total portfolio value only changed -35%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
21 → 7 → 7 → 10 → 11 new funds/Q
New funds entering each quarter: 7 → 7 → 10 → 11. A growing number of institutions are discovering MTLS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 78% of holders stayed 2+ years
■ 78% veterans
■ 10% 1-2yr
■ 12% new
Of 58 current holders: 45 (78%) 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 — 13% AUM from top-100
13% from top-100 AUM funds
13 of 56 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.