Who owns MDST
Which tracked institutional funds hold MDST, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See MDST company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on MDST is one-sided between 2025-Q4 and 2026-Q1: 15 added or opened and 2 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
MDST’s largest tracked holder by dollar value, WESTWOOD HOLDINGS GROUP INC, sizes it at 0.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in MDST divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 31 tracked filers holding MDST, 21 increased or opened the position and 8 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in MDST between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 4
- Garden State Investment Advisory Services LLC$3M
- Chicago Partners Investment Group LLC$3M
- MORGAN STANLEY$3M
- Tandem Financial, LLC$738K
Full exits 2
- JANE STREET GROUP, LLC$1M
- OLD MISSION CAPITAL LLC$559K
Largest adds
- LPL Financial LLC$5M
- WESTWOOD HOLDINGS GROUP INC$4M
- North Star Investment Management Corp.$3M
- Rockefeller Capital Management L.P.$3M
- COMMONWEALTH EQUITY SERVICES, LLC$2M
- Clear Trail Advisors, LLC$1M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| WESTWOOD HOLDINGS GROUP INC added | 1,586,819 | $45M | 37.1% | 2026-Q1 |
| LPL Financial LLC added | 1,102,301 | $32M | 25.7% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 188,452 | $5M | 4.4% | 2026-Q1 |
| Janney Montgomery Scott LLC trimmed | 173,237 | $5M | 4.0% | 2026-Q1 |
| North Star Investment Management Corp. added | 169,686 | $5M | 4.0% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 137,929 | $4M | 3.2% | 2026-Q1 |
| Miller Global Investments, LLC trimmed | 113,986 | $3M | 2.7% | 2026-Q1 |
| Garden State Investment Advisory Services LLC new | 99,000 | $3M | 2.3% | 2026-Q1 |
| Chicago Partners Investment Group LLC new | 97,716 | $3M | 2.2% | 2026-Q1 |
| MORGAN STANLEY added | 87,881 | $3M | 2.1% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 87,802 | $3M | 2.1% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 65,602 | $2M | 1.5% | 2026-Q1 |
| Clear Trail Advisors, LLC added | 59,656 | $2M | 1.4% | 2026-Q1 |
| Wealthcare Advisory Partners LLC added | 30,424 | $870K | 0.7% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 29,053 | $831K | 0.7% | 2026-Q1 |
| Tandem Financial, LLC added | 25,593 | $738K | 0.6% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 23,242 | $665K | 0.5% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC trimmed | 20,516 | $587K | 0.5% | 2026-Q1 |
| OPPENHEIMER & CO INC trimmed | 19,656 | $562K | 0.5% | 2026-Q1 |
| SHEPHERD KAPLAN KROCHUK, LLC added | 18,546 | $530K | 0.4% | 2026-Q1 |
| SILVER OAK SECURITIES, INCORPORATED trimmed | 14,668 | $420K | 0.3% | 2026-Q1 |
| Avidian Wealth Enterprises, LLC added | 12,137 | $347K | 0.3% | 2026-Q1 |
| Tactive Advisors, LLC added | 11,454 | $328K | 0.3% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC new | 9,931 | $284K | 0.2% | 2026-Q1 |
| Founders Financial Alliance, LLC | 5,656 | $162K | 0.1% | 2026-Q1 |
| Parallel Advisors, LLC | 5,600 | $160K | 0.1% | 2026-Q1 |
| UBS Group AG added | 757 | $22K | 0.0% | 2026-Q1 |
| PRIVATE TRUST CO NA | 492 | $14K | 0.0% | 2026-Q1 |
| BESSEMER GROUP INC | 500 | $14K | 0.0% | 2026-Q1 |
| Sunbelt Securities, Inc. new | 200 | $6K | 0.0% | 2026-Q1 |
| AE Wealth Management LLC new | 159 | $5K | 0.0% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 43,056 | $1M | 0.9% | 2025-Q4 stale |
| OLD MISSION CAPITAL LLC added | 21,171 | $559K | 0.5% | 2025-Q4 stale |
| CITADEL ADVISORS LLC added | 19,374 | $525K | 0.4% | 2025-Q2 stale |
| TWO SIGMA SECURITIES, LLC new | 7,536 | $201K | 0.2% | 2025-Q3 stale |
| Advisory Services Network, LLC new | 557 | $15K | 0.0% | 2025-Q3 stale |
| GPS Wealth Strategies Group, LLC new | 250 | $7K | 0.0% | 2025-Q3 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.