Based on 19 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their MDAIW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 59% of 3.0Y high
59% of all-time peak
Only 19 funds hold MDAIW today versus a peak of 32 funds at 2023 Q3 — just 59% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 14% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold MDAIW compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 40% buying
2 buying3 selling
Last quarter: 3 funds reduced or exited vs 2 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.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 3 → 1 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 32% medium
■ 11% new
11 out of 19 hedge funds have held MDAIW 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.
⚠️
Saturation — most institutions already know this story
3 → 3 → 3 → 1 → 1 new funds/Q
New funds entering each quarter: 3 → 3 → 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.
🏛️
Veteran-anchored — 63% veterans vs 37% newcomers
■ 63% veterans
■ 0% 1-2yr
■ 37% new
Entry-cohort mix of 19 holders: 12 (63%) are 2+ year veterans, 0 entered 1–2 years ago, and 7 (37%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
1 of 18 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.