Based on 126 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added REI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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High ownership — 81% of 3.0Y peak
81% of all-time peak
126 funds currently hold this stock — 81% of the 3.0-year high of 156 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold REI compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 60% buying
72 buying48 selling
Last quarter: 72 funds were net buyers (37 opened a brand new position + 35 added to an existing one). Only 48 were sellers (31 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+15 vs last Q)
new funds entering per quarter
Funds opening a new REI position: 35 → 32 → 22 → 37. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 21% medium
■ 24% new
69 out of 126 hedge funds have held REI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Value +125% but shares only +33% — price-driven
Last quarter: the total dollar value of institutional holdings rose +125%, but actual share count only changed +33%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~37 new funds/quarter
23 → 35 → 32 → 22 → 37 new funds/Q
New funds entering each quarter: 35 → 32 → 22 → 37. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 64% veterans vs 26% newcomers
■ 64% veterans
■ 11% 1-2yr
■ 26% new
Entry-cohort mix of 132 holders: 84 (64%) are 2+ year veterans, 14 entered 1–2 years ago, and 34 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
26 of 126 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in REI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.