Based on 165 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 RMR 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 — 91% of 3.0Y peak
91% of all-time peak
165 funds currently hold this stock — 91% of the 3.0-year high of 182 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 7% fewer funds vs a year ago
fund count last 6Q
13 fewer hedge funds hold RMR compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 57% buying
78 buying60 selling
Last quarter: 78 funds bought or added vs 60 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new RMR position: 19 → 20 → 20 → 30. 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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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 21% medium
■ 15% new
106 out of 165 hedge funds have held RMR 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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Growing discovery — still being found
38 → 19 → 20 → 20 → 30 new funds/Q
New funds entering each quarter: 19 → 20 → 20 → 30. A growing number of institutions are discovering RMR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 72% veterans vs 17% newcomers
■ 72% veterans
■ 11% 1-2yr
■ 17% new
Entry-cohort mix of 168 holders: 121 (72%) are 2+ year veterans, 18 entered 1–2 years ago, and 29 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 33% AUM from major funds
33% from top-100 AUM funds
33 of 165 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.