I have noticed that all 3 of my little ones (1 to 5 gallon pots) and about 20 other, larger (10-15 gal. pots or comparable B&B), evergreen magnolias planted in the past 2-6 years around here all seem to lose leaves and look rather sparse for the first couple of years. Once they have "settled in", they seem to grow more leaves and thicken up. They will grow taller/larger, they just don't grow densely. As well, this is the time of year that magnolias lose leaves - the older, and interior, ones turn yellow and fall off. My now 5 year-year-old and very dense BBB has lost a couple dozen leaves in the past few weeks, and has a few mmore to go. It's just the way they grow.

Normal for them to thin SOME leaves just like that this time of year. Wouldn't worry unless you start seeing bare spots opening along the branches.

I've seen lots of DDB, it is a popular landscape tree in the SE. I've only seen one EB, my tree. EB's main claim to fame is it's supposed hardiness. Mine is in full sun and wide open, no large trees anywhere near it. It is about 20-25 years old from a one gallon. It is wider than high, branched to the ground, and fairly open with somewhat long willowy branches. It took a long time to bloom, and is even now a rather shy bloomer. Blooms are of average size. For me EB has been of average hardiness, it has never lost any wood or suffered any bark split, but it has had browned foliage, though never defoliated. On a scale of 1-5 I rate it 3. DDB is very popular and often seen in private landscapes and especially public ones. It is upright in youth and more spreading as it ages, but taller than wide. Foliage is deep glossy green above and copper/red beneath, especially when young. The tree presents a lush, rich appearance and is a vigorous grower. Floriferousness has been average, but blooms are well formed and slightly smaller than average, a good thing IMHO. Hardiness has been on a par with EB for me, the literature says less hardy than other hardy clones, zone 7. On a scale of 1-5 I rate it 5. All magnolias grown under conditions you describe will tend to be open, with slightly larger than average foliage and less than average bloom, all due to shade. If DDB and EB are the only clones under consideration, my choice would be DDB.

could be a young magnolia but It does look like a fig if you select 3-4 of the strongest branches and prune them at about 1ft from the soil, it will grow in a nice open habit...or select one and prune it at about 2ft, stake it and it will be more of a half standard style the whip should be pruned at about 1' as well, this will induce branching below the cut