Based on 268 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their REYN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 94% of 3.0Y peak
94% of all-time peak
268 funds currently hold this stock — 94% of the 3.0-year high of 285 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+47 new funds entered over the past year (+21% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟠
More sellers than buyers — 44% buying
134 buying170 selling
Last quarter: 170 funds reduced or exited vs 134 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-27 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 46 → 68 → 75 → 48. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 24% medium
■ 29% new
125 out of 268 hedge funds have held REYN 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.
➡️
Steady discovery — ~48 new funds/quarter
40 → 46 → 68 → 75 → 48 new funds/Q
New funds entering each quarter: 46 → 68 → 75 → 48. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 53% veterans vs 34% newcomers
■ 53% veterans
■ 12% 1-2yr
■ 34% new
Entry-cohort mix of 268 holders: 143 (53%) are 2+ year veterans, 33 entered 1–2 years ago, and 92 (34%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 46% AUM from top-100 funds
46% from top-100 AUM funds
44 of 267 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in REYN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.