Based on 75 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 MDWD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
75 hedge funds hold MDWD 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.
📶
Steady growth — +19% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 55% buying
46 buying37 selling
Last quarter: 46 funds bought or added vs 37 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~18 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 17 → 16 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 29% entered in last year
■ 23% conviction (2yr+)
■ 48% medium
■ 29% new
Only 17 funds (23%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📈
Growing discovery — still being found
10 → 10 → 17 → 16 → 18 new funds/Q
New funds entering each quarter: 10 → 17 → 16 → 18. A growing number of institutions are discovering MDWD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 30% veterans, 34% new entrants
■ 30% veterans
■ 36% 1-2yr
■ 34% new
Of 76 current holders: 23 (30%) held 2+ years, 27 held 1–2 years, 26 (34%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
25 of 75 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.