Based on 1941 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added MPC 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 (100% of max)
100% of all-time peak
1,941 hedge funds hold MPC 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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Fast accumulation — +26% more funds vs a year ago
fund count last 6Q
+395 new funds entered over the past year (+26% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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Slight buying edge — 51% buying
875 buying856 selling
Last quarter: 875 funds bought or added vs 856 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.
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Fewer new buyers each quarter (-183 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 199 → 210 → 366 → 183. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 17% medium
■ 19% new
1,250 out of 1,941 hedge funds have held MPC 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 +56%, value +4%
Last quarter: funds added +56% more shares while total portfolio value only changed +4%. 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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Growing discovery — still being found
159 → 199 → 210 → 366 → 183 new funds/Q
New funds entering each quarter: 199 → 210 → 366 → 183. A growing number of institutions are discovering MPC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 72% veterans vs 19% newcomers
■ 72% veterans
■ 9% 1-2yr
■ 19% new
Entry-cohort mix of 1,996 holders: 1,434 (72%) are 2+ year veterans, 178 entered 1–2 years ago, and 384 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 59% AUM from top-100 funds
59% from top-100 AUM funds
63 of 1936 holders are among the 100 largest funds by AUM, controlling 59% of total institutional value in MPC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.