Based on 82 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added RNAC 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
82 hedge funds hold RNAC 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.
🚀
Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+14 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 buyers than sellers — 67% buying
55 buying27 selling
Last quarter: 55 funds were net buyers (27 opened a brand new position + 28 added to an existing one). Only 27 were sellers (13 trimmed + 14 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new RNAC position: 7 → 5 → 18 → 27. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 38% entered in last year
■ 7% conviction (2yr+)
■ 55% medium
■ 38% new
Only 6 funds (7%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares +37%, value +17%
Last quarter: funds added +37% more shares while total portfolio value only changed +17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
13 → 7 → 5 → 18 → 27 new funds/Q
New funds entering each quarter: 7 → 5 → 18 → 27. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
📊
Mixed cohorts — 6% veterans, 45% new entrants
■ 6% veterans
■ 49% 1-2yr
■ 45% new
Of 82 current holders: 5 (6%) held 2+ years, 40 held 1–2 years, 37 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
25 of 82 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.