Based on 23 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 RNRG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 66% of 3.0Y high
66% of all-time peak
Only 23 funds hold RNRG today versus a peak of 35 funds at 2024 Q2 — just 66% 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.
📉
Outflows — 21% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold RNRG compared to a year ago (-21% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 53% buying
10 buying9 selling
Last quarter: 10 funds bought or added vs 9 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.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 9 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 13% medium
■ 30% new
13 out of 23 hedge funds have held RNRG 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 — ~4 new funds/quarter
7 → 2 → 3 → 9 → 4 new funds/Q
New funds entering each quarter: 2 → 3 → 9 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 57% veterans vs 30% newcomers
■ 57% veterans
■ 13% 1-2yr
■ 30% new
Entry-cohort mix of 23 holders: 13 (57%) are 2+ year veterans, 3 entered 1–2 years ago, and 7 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 17% AUM from top-100
17% from top-100 AUM funds
5 of 23 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.