Based on 93 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added RFV 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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At the ownership peak (100% of max)
100% of all-time peak
93 hedge funds hold RFV right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Fast accumulation — +22% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+22% 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.
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More buyers than sellers — 61% buying
46 buying30 selling
Last quarter: 46 funds were net buyers (16 opened a brand new position + 30 added to an existing one). Only 30 were sellers (25 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new RFV position: 13 → 12 → 8 → 16. 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+)
■ 27% medium
■ 18% new
51 out of 93 hedge funds have held RFV 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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Steady discovery — ~16 new funds/quarter
6 → 13 → 12 → 8 → 16 new funds/Q
New funds entering each quarter: 13 → 12 → 8 → 16. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 58% veterans vs 27% newcomers
■ 58% veterans
■ 15% 1-2yr
■ 27% new
Entry-cohort mix of 93 holders: 54 (58%) are 2+ year veterans, 14 entered 1–2 years ago, and 25 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
19 of 93 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in RFV. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.