Based on 78 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added RILY 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.
🔻
Below peak — only 49% of 3.0Y high
49% of all-time peak
Only 78 funds hold RILY today versus a peak of 158 funds at 2023 Q3 — just 49% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
9 fewer hedge funds hold RILY compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 48% buying
40 buying44 selling
Last quarter: 44 funds reduced or exited vs 40 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.
➡️
Steady new buyers — ~19 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 16 → 15 → 19. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 18% medium
■ 23% new
46 out of 78 hedge funds have held RILY 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.
💰
Value +133% but shares only +48% — price-driven
Last quarter: the total dollar value of institutional holdings rose +133%, but actual share count only changed +48%. 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.
➡️
Steady discovery — ~19 new funds/quarter
11 → 19 → 16 → 15 → 19 new funds/Q
New funds entering each quarter: 19 → 16 → 15 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 66% veterans vs 20% newcomers
■ 66% veterans
■ 14% 1-2yr
■ 20% new
Entry-cohort mix of 88 holders: 58 (66%) are 2+ year veterans, 12 entered 1–2 years ago, and 18 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
25 of 77 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.