Based on 39 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added MARW 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 — 93% of 3.0Y peak
93% of all-time peak
39 funds currently hold this stock — 93% of the 3.0-year high of 42 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +5% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 4 quarters from the low — a sharp move.
🟢
More buyers than sellers — 68% buying
25 buying12 selling
Last quarter: 25 funds were net buyers (7 opened a brand new position + 18 added to an existing one). Only 12 were sellers (6 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 0 → 8 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
41% of holders stayed for 2+ years
■ 41% conviction (2yr+)
■ 28% medium
■ 31% new
16 out of 39 hedge funds have held MARW 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 — ~7 new funds/quarter
10 → 7 → 0 → 8 → 7 new funds/Q
New funds entering each quarter: 7 → 0 → 8 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 18% veterans, 41% new entrants
■ 18% veterans
■ 41% 1-2yr
■ 41% new
Of 39 current holders: 7 (18%) held 2+ years, 16 held 1–2 years, 16 (41%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 16% AUM from top-100
16% from top-100 AUM funds
4 of 39 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.