Based on 188 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added MNMD 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
188 hedge funds hold MNMD 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 — +16% more funds vs a year ago
fund count last 6Q
+26 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 65% buying
131 buying72 selling
Last quarter: 131 funds were net buyers (45 opened a brand new position + 86 added to an existing one). Only 72 were sellers (30 trimmed + 42 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new MNMD position: 44 → 18 → 36 → 45. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 36% long-term, 31% new
■ 36% conviction (2yr+)
■ 33% medium
■ 31% new
Of the 188 current holders: 68 (36%) held >2 years, 62 held 1–2 years, and 58 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Value +58% but shares only +39% — price-driven
Last quarter: the total dollar value of institutional holdings rose +58%, but actual share count only changed +39%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈
Growing discovery — still being found
33 → 44 → 18 → 36 → 45 new funds/Q
New funds entering each quarter: 44 → 18 → 36 → 45. A growing number of institutions are discovering MNMD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 38% veterans, 37% new entrants
■ 38% veterans
■ 25% 1-2yr
■ 37% new
Of 197 current holders: 75 (38%) held 2+ years, 49 held 1–2 years, 73 (37%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 29% AUM from major funds
29% from top-100 AUM funds
30 of 188 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.