Based on 20 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 MXE 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 — 83% of 3.0Y peak
83% of all-time peak
20 funds currently hold this stock — 83% of the 3.0-year high of 24 funds (reached 2023 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold MXE compared to a year ago (-13% 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 — 73% buying
8 buying3 selling
Last quarter: 8 funds were net buyers (1 opened a brand new position + 7 added to an existing one). Only 3 were sellers (3 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 1 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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90% of holders stayed for 2+ years
■ 90% conviction (2yr+)
■ 10% medium
■ 0% new
18 out of 20 hedge funds have held MXE 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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Saturation — most institutions already know this story
2 → 2 → 2 → 1 → 1 new funds/Q
New funds entering each quarter: 2 → 2 → 1 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Deep conviction — 95% of holders stayed 2+ years
■ 95% veterans
■ 0% 1-2yr
■ 5% new
Of 20 current holders: 19 (95%) 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 — 1% AUM from top-100
1% from top-100 AUM funds
4 of 20 holders rank in the top 100 by AUM, but together hold only 1% 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.