Based on 64 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 MUJ 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 — 90% of 3.0Y peak
90% of all-time peak
64 funds currently hold this stock — 90% of the 3.0-year high of 71 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 — 10% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold MUJ compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 65% buying
37 buying20 selling
Last quarter: 37 funds were net buyers (14 opened a brand new position + 23 added to an existing one). Only 20 were sellers (10 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new MUJ position: 6 → 10 → 8 → 14. 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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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 23% medium
■ 23% new
34 out of 64 hedge funds have held MUJ 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 -99%
Last quarter: funds added -1% more shares while total portfolio value only changed -99%. 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
19 → 6 → 10 → 8 → 14 new funds/Q
New funds entering each quarter: 6 → 10 → 8 → 14. A growing number of institutions are discovering MUJ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 56% of holders stayed 2+ years
■ 56% veterans
■ 16% 1-2yr
■ 28% new
Of 64 current holders: 36 (56%) 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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Elite ownership — 51% AUM from top-100 funds
51% from top-100 AUM funds
9 of 64 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in MUJ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.