How has MLGO's total institutional ownership changed since WiMi's June 2025 share acquisition?

WiMi Hologram Cloud Inc. (WiMi) significantly increased its stake in MicroAlgo Inc. (MLGO) in June 2025, solidifying its position as the parent company. On June 20, 2025, WiMi invested $32.2 million in a convertible note, which was fully converted into 152,173,914 Class A shares of MLGO.1 This followed a March 27, 2025 13D/A filing by WiMi, reporting 46,728,919 shares, representing 99.79% ownership of MLGO.2

When examining MicroAlgo's institutional ownership excluding the dominant stake held by its parent company, WiMi (which is typically reported via 13D/G filings), a notable trend emerges. Fintel data indicates that MicroAlgo has 19 institutional owners who have filed 13F forms. These institutions collectively hold 324,333 shares, accounting for 2.96% of the company's shares outstanding (excluding 13D/G filers).2

Since WiMi's June 2025 acquisition, the most recent quarter's data shows a significant decrease in these institutional shares. Specifically, institutional shares (excluding 13D/G) have declined by 52.23% in the Most Recent Quarter (MRQ), representing a reduction of 0.35 million shares.2 This suggests that while WiMi has consolidated its control, other institutional investors have reduced their positions in MLGO.

Analyze the specific 13F filings from the most recent quarter to identify which institutions reduced their MLGO holdings.