Who owns MDU
Which tracked institutional funds hold MDU, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See MDU company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 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
91 tracked funds added or opened MDU while 74 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
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
MDU’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes MDU more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in MDU 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 2026-Q1 and 2026-Q2, across 405 tracked filers holding MDU, 210 increased or opened the position and 193 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 MDU between the 2026-Q1 and 2026-Q2 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 22
- Beck Bode, LLC$18M
- Magellan Asset Management Ltd$5M
- Oak Thistle LLC$4M
- Vennlight Capital Management, LP$4M
- Ilex Capital Partners (UK) LLP$3M
- DARK FOREST CAPITAL MANAGEMENT LP$3M
Full exits 37
- VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.$52M
- T. Rowe Price Investment Management, Inc.$45M
- NATIXIS ADVISORS, LLC$35M
- DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC$32M
- HRT FINANCIAL LP$15M
- Yaupon Capital Management LP$11M
Largest adds
- BlackRock, Inc.$211M
- HITE Hedge Asset Management LLC$34M
- CITADEL ADVISORS LLC$21M
- NORGES BANK$16M
- STATE STREET CORP$12M
- VANGUARD CAPITAL MANAGEMENT LLC$10M
Largest trims
- NOMURA ASSET MANAGEMENT INTERNATIONAL INC.$45M
- UBS Group AG$14M
- River Road Asset Management, LLC$12M
- FRONTIER CAPITAL MANAGEMENT CO LLC$10M
- BARROW HANLEY MEWHINNEY & STRAUSS LLC$8M
- Allspring Global Investments Holdings, LLC$6M
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 |
|---|---|---|---|---|
| BlackRock, Inc. added | 27,351,603 | $580M | 12.6% | 2026-Q2 |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC trimmed | 13,056,724 | $277M | 6.0% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 12,692,333 | $269M | 5.9% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 10,435,060 | $221M | 4.8% | 2026-Q2 |
| EARNEST PARTNERS LLC trimmed | 9,726,856 | $206M | 4.5% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 9,416,562 | $200M | 4.4% | 2026-Q2 |
| STATE STREET CORP added | 7,376,161 | $157M | 3.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 6,089,546 | $129M | 2.8% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 5,228,758 | $111M | 2.4% | 2026-Q2 |
| MORGAN STANLEY trimmed | 4,086,803 | $87M | 1.9% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 3,553,438 | $75M | 1.6% | 2026-Q2 |
| River Road Asset Management, LLC trimmed | 3,403,955 | $72M | 1.6% | 2026-Q2 |
| WESTWOOD HOLDINGS GROUP INC trimmed | 3,221,909 | $68M | 1.5% | 2026-Q2 |
| HITE Hedge Asset Management LLC added | 3,137,305 | $67M | 1.4% | 2026-Q2 |
| NORGES BANK added | 2,633,250 | $56M | 1.2% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 2,330,719 | $49M | 1.1% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 2,236,356 | $47M | 1.0% | 2026-Q2 |
| Invesco Ltd. added | 2,047,618 | $43M | 0.9% | 2026-Q2 |
| FRONTIER CAPITAL MANAGEMENT CO LLC trimmed | 1,987,666 | $42M | 0.9% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 1,954,573 | $41M | 0.9% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 1,909,701 | $41M | 0.9% | 2026-Q2 |
| US BANCORP \DE\ trimmed | 1,690,277 | $36M | 0.8% | 2026-Q2 |
| NORTHERN TRUST CORP added | 1,564,006 | $33M | 0.7% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 1,490,186 | $33M | 0.7% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 1,493,599 | $32M | 0.7% | 2026-Q2 |
| Bragg Financial Advisors, Inc trimmed | 1,451,057 | $31M | 0.7% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 1,404,875 | $30M | 0.6% | 2026-Q2 |
| Perpetual Ltd added | 1,369,442 | $29M | 0.6% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 1,328,342 | $28M | 0.6% | 2026-Q2 |
| Allspring Global Investments Holdings, LLC trimmed | 1,221,323 | $25M | 0.6% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 1,176,903 | $25M | 0.5% | 2026-Q2 |
| Legal & General Group Plc added | 1,102,193 | $23M | 0.5% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC trimmed | 1,076,135 | $23M | 0.5% | 2026-Q2 |
| MANAGED ASSET PORTFOLIOS, LLC added | 1,040,108 | $22M | 0.5% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 1,008,061 | $21M | 0.5% | 2026-Q2 |
| UBS Group AG trimmed | 1,006,027 | $21M | 0.5% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC added | 957,150 | $20M | 0.4% | 2026-Q2 |
| Quantinno Capital Management LP added | 914,521 | $19M | 0.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 898,508 | $19M | 0.4% | 2026-Q2 |
| Beck Bode, LLC new | 868,285 | $18M | 0.4% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 811,297 | $17M | 0.4% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 808,790 | $17M | 0.4% | 2026-Q2 |
| Gotham Asset Management, LLC added | 726,661 | $15M | 0.3% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC added | 718,511 | $15M | 0.3% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 718,062 | $15M | 0.3% | 2026-Q2 |
| NEEDHAM INVESTMENT MANAGEMENT LLC added | 665,000 | $14M | 0.3% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 624,798 | $13M | 0.3% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 615,554 | $13M | 0.3% | 2026-Q2 |
| LOOMIS SAYLES & CO L P trimmed | 610,700 | $13M | 0.3% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 542,449 | $12M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 467,864 | $10M | 0.2% | 2026-Q2 |
| D. E. Shaw & Co., Inc. trimmed | 450,754 | $10M | 0.2% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 448,270 | $10M | 0.2% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 429,672 | $9M | 0.2% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 443,895 | $9M | 0.2% | 2026-Q2 |
| California Public Employees Retirement System added | 439,040 | $9M | 0.2% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. trimmed | 416,554 | $9M | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 402,983 | $9M | 0.2% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 399,964 | $8M | 0.2% | 2026-Q2 |
| EXCHANGE TRADED CONCEPTS, LLC added | 398,550 | $8M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 390,190 | $8M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 380,367 | $8M | 0.2% | 2026-Q2 |
| JOHN G ULLMAN & ASSOCIATES INC trimmed | 358,848 | $8M | 0.2% | 2026-Q2 |
| GABELLI FUNDS LLC trimmed | 348,258 | $7M | 0.2% | 2026-Q2 |
| Hudson Value Partners, LLC trimmed | 348,073 | $7M | 0.2% | 2026-Q2 |
| Advisors Asset Management, Inc. added | 345,476 | $7M | 0.2% | 2026-Q2 |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS trimmed | 329,515 | $7M | 0.2% | 2026-Q2 |
| Nuveen, LLC added | 325,547 | $7M | 0.2% | 2026-Q2 |
| Phocas Financial Corp. added | 322,253 | $7M | 0.1% | 2026-Q2 |
| Covalis Capital LLP added | 320,176 | $7M | 0.1% | 2026-Q2 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM trimmed | 309,092 | $7M | 0.1% | 2026-Q2 |
| Creative Planning added | 307,937 | $7M | 0.1% | 2026-Q2 |
| Verition Fund Management LLC | 300,000 | $6M | 0.1% | 2026-Q2 |
| Man Group plc trimmed | 297,903 | $6M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 290,591 | $6M | 0.1% | 2026-Q2 |
| CAPTRUST FINANCIAL ADVISORS added | 279,197 | $6M | 0.1% | 2026-Q2 |
| FIFTH THIRD BANCORP trimmed | 266,185 | $6M | 0.1% | 2026-Q2 |
| Angeles Investment Advisors, LLC | 245,414 | $5M | 0.1% | 2026-Q2 |
| VANGUARD GROUP INC added | 23,828,483 | $465M | 10.1% | 2025-Q4 stale (2 quarters behind) |
| Corvex Management LP | 4,183,151 | $75M | 1.6% | 2025-Q3 stale (3 quarters behind) |
| Pertento Partners LLP | 3,155,743 | $53M | 1.1% | 2025-Q2 stale (4 quarters behind) |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. new | 2,531,705 | $52M | 1.1% | 2026-Q1 stale (1 quarter behind) |
| T. Rowe Price Investment Management, Inc. added | 2,158,544 | $45M | 1.0% | 2026-Q1 stale (1 quarter behind) |
| NATIXIS ADVISORS, LLC added | 1,691,938 | $35M | 0.8% | 2026-Q1 stale (1 quarter behind) |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC trimmed | 1,553,740 | $32M | 0.7% | 2026-Q1 stale (1 quarter behind) |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC trimmed | 1,177,200 | $23M | 0.5% | 2025-Q4 stale (2 quarters behind) |
| HRT FINANCIAL LP added | 735,990 | $15M | 0.3% | 2026-Q1 stale (1 quarter behind) |
| JUPITER ASSET MANAGEMENT LTD trimmed | 707,397 | $13M | 0.3% | 2025-Q3 stale (3 quarters behind) |
| Brandywine Global Investment Management, LLC trimmed | 596,653 | $12M | 0.3% | 2025-Q4 stale (2 quarters behind) |
| Yaupon Capital Management LP trimmed | 548,025 | $11M | 0.2% | 2026-Q1 stale (1 quarter behind) |
| Alyeska Investment Group, L.P. new | 550,000 | $11M | 0.2% | 2025-Q4 stale (2 quarters behind) |
| ADAGE CAPITAL PARTNERS GP, L.L.C. trimmed | 500,000 | $10M | 0.2% | 2026-Q1 stale (1 quarter behind) |
| Ghisallo Capital Management LLC new | 451,229 | $9M | 0.2% | 2025-Q4 stale (2 quarters behind) |
| JANE STREET GROUP, LLC added | 382,101 | $6M | 0.1% | 2025-Q2 stale (4 quarters behind) |
| Burkehill Global Management, LP | 300,000 | $6M | 0.1% | 2026-Q1 stale (1 quarter behind) |
| Aberdeen Group plc new | 345,598 | $6M | 0.1% | 2025-Q3 stale (3 quarters behind) |
| BESSEMER GROUP INC added | 285,186 | $6M | 0.1% | 2026-Q1 stale (1 quarter behind) |
| Caisse de depot et placement du Quebec added | 317,731 | $6M | 0.1% | 2025-Q3 stale (3 quarters behind) |
| KESTREL INVESTMENT MANAGEMENT CORP | 309,600 | $6M | 0.1% | 2025-Q3 stale (3 quarters behind) |
| Sourcerock Group LLC new | 300,483 | $5M | 0.1% | 2025-Q3 stale (3 quarters behind) |
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.