Forty-six of the 59 top-200 alpha cohort holders in $MCD reported new positions in Q1 2026, against a single exit and 12 flat carries — a lopsided initiation wave with no meaningful trimming activity recorded.
Banque Pictet & Cie SA entered at 2.48% weight, the largest new position in the cohort. Hamel Associates, Inc. initiated at 1.82%; Bradley Foster & Sargent INC at 0.80%; Bolthouse Investments, LLC at 0.71%. Hummer Financial Advisory Services Inc, carrying 53.0 alpha points, opened at 0.58%. The sole exit was Paragon Capital Management Ltd, which closed a 0.18% prior-quarter position.
Among the 12 continuing holders, Citadel Investment Advisory, Inc. sits at 1.55% (up +0.14pp from 1.41%), while Cypress Capital Group expanded from 0.16% to 0.86% (+0.69pp). Wellington Management Group LLP trimmed modestly to 0.20% (-0.05pp). Cohort average weight across all 59 holders is 0.32%, with a range of 0.00% to 2.48%.
Forty-six simultaneous initiations in a single quarter is a structurally unusual cohort configuration for a mega-cap consumer name — though whether that reflects coordinated reallocation or simply a data artefact of new filers entering the universe is not resolvable from 13F data alone.