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-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 MDU is one-sided between 2026-Q1 and 2026-Q2: 14 added or opened and 196 trimmed or exited — on balance reducing.
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 2025-Q4 and 2026-Q1, across 417 tracked filers holding MDU, 218 increased or opened the position and 159 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
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 1
- Magnetar Financial LLC$1M
Full exits 194
- BARROW HANLEY MEWHINNEY & STRAUSS LLC$285M
- VANGUARD PORTFOLIO MANAGEMENT LLC$260M
- DIMENSIONAL FUND ADVISORS LP$213M
- EARNEST PARTNERS LLC$205M
- VANGUARD CAPITAL MANAGEMENT LLC$190M
- BANK OF AMERICA CORP /DE/$129M
Largest adds
- BlackRock, Inc.$211M
- CITADEL ADVISORS LLC$21M
- NORGES BANK$16M
- STATE STREET CORP$12M
- TWO SIGMA INVESTMENTS, LP$9M
- Invesco Ltd.$9M
Largest trims
- FMR LLC$2M
- BALYASNY ASSET MANAGEMENT L.P.$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 |
|---|---|---|---|---|
| BlackRock, Inc. added | 27,351,603 | $580M | 12.6% | 2026-Q2 |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC added | 13,760,167 | $285M | 6.2% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 12,526,974 | $260M | 5.7% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 10,285,747 | $213M | 4.6% | 2026-Q1 |
| EARNEST PARTNERS LLC trimmed | 9,881,880 | $205M | 4.5% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 9,147,886 | $190M | 4.1% | 2026-Q1 |
| STATE STREET CORP added | 7,376,161 | $157M | 3.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 6,202,460 | $129M | 2.8% | 2026-Q1 |
| SEI INVESTMENTS CO trimmed | 5,261,426 | $109M | 2.4% | 2026-Q1 |
| MORGAN STANLEY added | 4,221,525 | $87M | 1.9% | 2026-Q1 |
| River Road Asset Management, LLC trimmed | 4,077,251 | $84M | 1.8% | 2026-Q1 |
| WESTWOOD HOLDINGS GROUP INC added | 3,542,046 | $73M | 1.6% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 3,491,440 | $72M | 1.6% | 2026-Q1 |
| NORGES BANK added | 2,633,250 | $56M | 1.2% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. trimmed | 2,596,001 | $54M | 1.2% | 2026-Q1 |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. new | 2,531,705 | $52M | 1.1% | 2026-Q1 |
| FRONTIER CAPITAL MANAGEMENT CO LLC trimmed | 2,506,549 | $52M | 1.1% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 2,363,835 | $49M | 1.1% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 2,264,562 | $47M | 1.0% | 2026-Q1 |
| T. Rowe Price Investment Management, Inc. added | 2,158,544 | $45M | 1.0% | 2026-Q1 |
| Invesco Ltd. added | 2,047,618 | $43M | 0.9% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 1,909,701 | $41M | 0.9% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 1,801,678 | $37M | 0.8% | 2026-Q1 |
| UBS Group AG added | 1,707,254 | $35M | 0.8% | 2026-Q1 |
| NATIXIS ADVISORS, LLC added | 1,691,938 | $35M | 0.8% | 2026-Q1 |
| US BANCORP \DE\ trimmed | 1,691,882 | $35M | 0.8% | 2026-Q1 |
| DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC trimmed | 1,553,740 | $32M | 0.7% | 2026-Q1 |
| HITE Hedge Asset Management LLC added | 1,550,000 | $32M | 0.7% | 2026-Q1 |
| NORTHERN TRUST CORP added | 1,533,393 | $32M | 0.7% | 2026-Q1 |
| Allspring Global Investments Holdings, LLC trimmed | 1,480,630 | $31M | 0.7% | 2026-Q1 |
| FIRST TRUST ADVISORS LP trimmed | 1,481,593 | $31M | 0.7% | 2026-Q1 |
| Bragg Financial Advisors, Inc added | 1,451,854 | $30M | 0.7% | 2026-Q1 |
| NEW YORK STATE COMMON RETIREMENT FUND trimmed | 1,398,717 | $29M | 0.6% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 1,381,030 | $28M | 0.6% | 2026-Q1 |
| Perpetual Ltd added | 1,327,882 | $28M | 0.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 1,268,614 | $26M | 0.6% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC added | 1,226,667 | $25M | 0.6% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 1,103,332 | $23M | 0.5% | 2026-Q1 |
| MANAGED ASSET PORTFOLIOS, LLC trimmed | 1,037,406 | $21M | 0.5% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 990,325 | $21M | 0.4% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 957,150 | $20M | 0.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 898,508 | $19M | 0.4% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 853,787 | $18M | 0.4% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 845,685 | $18M | 0.4% | 2026-Q1 |
| Legal & General Group Plc trimmed | 815,281 | $17M | 0.4% | 2026-Q1 |
| HRT FINANCIAL LP added | 735,990 | $15M | 0.3% | 2026-Q1 |
| Public Sector Pension Investment Board added | 731,197 | $15M | 0.3% | 2026-Q1 |
| Quantinno Capital Management LP added | 652,550 | $14M | 0.3% | 2026-Q1 |
| LOOMIS SAYLES & CO L P trimmed | 651,621 | $14M | 0.3% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC added | 639,617 | $13M | 0.3% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 624,798 | $13M | 0.3% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 590,225 | $12M | 0.3% | 2026-Q1 |
| NEEDHAM INVESTMENT MANAGEMENT LLC added | 557,500 | $12M | 0.3% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 558,834 | $12M | 0.3% | 2026-Q1 |
| Yaupon Capital Management LP trimmed | 548,025 | $11M | 0.2% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 526,783 | $11M | 0.2% | 2026-Q1 |
| Gotham Asset Management, LLC trimmed | 503,877 | $10M | 0.2% | 2026-Q1 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. trimmed | 500,000 | $10M | 0.2% | 2026-Q1 |
| RHUMBLINE ADVISERS trimmed | 487,070 | $10M | 0.2% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 474,701 | $10M | 0.2% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 472,593 | $10M | 0.2% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 450,754 | $10M | 0.2% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 419,052 | $9M | 0.2% | 2026-Q1 |
| GABELLI FUNDS LLC trimmed | 395,726 | $8M | 0.2% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 391,304 | $8M | 0.2% | 2026-Q1 |
| Swiss National Bank added | 384,190 | $8M | 0.2% | 2026-Q1 |
| Man Group plc added | 378,425 | $8M | 0.2% | 2026-Q1 |
| JOHN G ULLMAN & ASSOCIATES INC trimmed | 376,640 | $8M | 0.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 375,736 | $8M | 0.2% | 2026-Q1 |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS trimmed | 363,102 | $8M | 0.2% | 2026-Q1 |
| Hudson Value Partners, LLC added | 350,713 | $7M | 0.2% | 2026-Q1 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | 319,670 | $7M | 0.1% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 319,611 | $7M | 0.1% | 2026-Q1 |
| M&T Bank Corp added | 315,252 | $7M | 0.1% | 2026-Q1 |
| Nuveen, LLC added | 312,272 | $6M | 0.1% | 2026-Q1 |
| Verition Fund Management LLC | 300,000 | $6M | 0.1% | 2026-Q2 |
| Creative Planning added | 301,011 | $6M | 0.1% | 2026-Q1 |
| Burkehill Global Management, LP | 300,000 | $6M | 0.1% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 289,470 | $6M | 0.1% | 2026-Q1 |
| Russell Investments Group, Ltd. trimmed | 288,491 | $6M | 0.1% | 2026-Q1 |
| BESSEMER GROUP INC added | 285,186 | $6M | 0.1% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP new | 280,708 | $6M | 0.1% | 2026-Q1 |
| Advisors Asset Management, Inc. added | 278,403 | $6M | 0.1% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS added | 274,957 | $6M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC added | 23,828,483 | $465M | 10.1% | 2025-Q4 stale |
| Corvex Management LP | 4,183,151 | $75M | 1.6% | 2025-Q3 stale |
| Pertento Partners LLP | 3,155,743 | $53M | 1.1% | 2025-Q2 stale |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC trimmed | 1,177,200 | $23M | 0.5% | 2025-Q4 stale |
| Hood River Capital Management LLC added | 1,123,736 | $19M | 0.4% | 2025-Q1 stale |
| JUPITER ASSET MANAGEMENT LTD trimmed | 707,397 | $13M | 0.3% | 2025-Q3 stale |
| Nixon Capital, LLC added | 709,412 | $12M | 0.3% | 2025-Q1 stale |
| Brandywine Global Investment Management, LLC trimmed | 596,653 | $12M | 0.3% | 2025-Q4 stale |
| Alyeska Investment Group, L.P. new | 550,000 | $11M | 0.2% | 2025-Q4 stale |
| PANAGORA ASSET MANAGEMENT INC trimmed | 632,471 | $11M | 0.2% | 2025-Q1 stale |
| Ghisallo Capital Management LLC new | 451,229 | $9M | 0.2% | 2025-Q4 stale |
| Keeley-Teton Advisors, LLC added | 487,449 | $8M | 0.2% | 2025-Q1 stale |
| JANE STREET GROUP, LLC added | 382,101 | $6M | 0.1% | 2025-Q2 stale |
| Aberdeen Group plc new | 345,598 | $6M | 0.1% | 2025-Q3 stale |
| Caisse de depot et placement du Quebec added | 317,731 | $6M | 0.1% | 2025-Q3 stale |
| KESTREL INVESTMENT MANAGEMENT CORP | 309,600 | $6M | 0.1% | 2025-Q3 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.