Based on 180 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added MNRO 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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At the ownership peak (96% of max)
96% of all-time peak
180 hedge funds hold MNRO 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.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding MNRO is almost the same as a year ago (+3 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 49% buying
92 buying94 selling
Last quarter: 94 funds reduced or exited vs 92 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.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new MNRO position: 42 → 32 → 30 → 36. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 23% medium
■ 18% new
107 out of 180 hedge funds have held MNRO 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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Buying through price weakness — shares -3%, value -23%
Last quarter: funds added -3% more shares while total portfolio value only changed -23%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~36 new funds/quarter
31 → 42 → 32 → 30 → 36 new funds/Q
New funds entering each quarter: 42 → 32 → 30 → 36. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 69% veterans vs 25% newcomers
■ 69% veterans
■ 5% 1-2yr
■ 25% new
Entry-cohort mix of 182 holders: 126 (69%) are 2+ year veterans, 10 entered 1–2 years ago, and 46 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
38 of 180 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.