Based on 97 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added MUA 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
97 hedge funds hold MUA 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.
🚀
Fast accumulation — +43% more funds vs a year ago
fund count last 6Q
+29 new funds entered over the past year (+43% 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.
🟢
More buyers than sellers — 73% buying
69 buying25 selling
Last quarter: 69 funds were net buyers (29 opened a brand new position + 40 added to an existing one). Only 25 were sellers (15 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new MUA position: 15 → 7 → 16 → 29. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
48% of holders stayed for 2+ years
■ 48% conviction (2yr+)
■ 25% medium
■ 27% new
47 out of 97 hedge funds have held MUA 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.
💎
Buying through price weakness — shares +34%, value +18%
Last quarter: funds added +34% more shares while total portfolio value only changed +18%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
14 → 15 → 7 → 16 → 29 new funds/Q
New funds entering each quarter: 15 → 7 → 16 → 29. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Veteran-anchored — 58% veterans vs 31% newcomers
■ 58% veterans
■ 11% 1-2yr
■ 31% new
Entry-cohort mix of 97 holders: 56 (58%) are 2+ year veterans, 11 entered 1–2 years ago, and 30 (31%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
17 of 97 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.