Based on 59 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MUJ positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 82% of 3.0Y peak
82% of all-time peak
59 funds currently hold this stock — 82% of the 3.0-year high of 72 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding MUJ is almost the same as a year ago (-2 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 47% buying
24 buying27 selling
Last quarter: 27 funds reduced or exited vs 24 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 8 → 16 → 6. 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.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 19% medium
■ 22% new
35 out of 59 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.
➡️
Steady discovery — ~6 new funds/quarter
6 → 10 → 8 → 16 → 6 new funds/Q
New funds entering each quarter: 10 → 8 → 16 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 22% 1-2yr
■ 20% new
Of 59 current holders: 34 (58%) 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
9 of 59 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.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.