Based on 490 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 MUSA 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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At the ownership peak (100% of max)
100% of all-time peak
490 hedge funds hold MUSA 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.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding MUSA is almost the same as a year ago (+16 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 48% buying
238 buying257 selling
Last quarter: 257 funds reduced or exited vs 238 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.
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More new buyers each quarter (+31 vs last Q)
new funds entering per quarter
Funds opening a new MUSA position: 57 → 81 → 64 → 95. 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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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 21% medium
■ 19% new
293 out of 490 hedge funds have held MUSA 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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Growing discovery — still being found
58 → 57 → 81 → 64 → 95 new funds/Q
New funds entering each quarter: 57 → 81 → 64 → 95. A growing number of institutions are discovering MUSA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 13% 1-2yr
■ 23% new
Of 506 current holders: 327 (65%) 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 — 49% AUM from top-100 funds
49% from top-100 AUM funds
42 of 490 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in MUSA. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.