Based on 435 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ROIV 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
435 hedge funds hold ROIV 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 — +39% more funds vs a year ago
fund count last 6Q
+123 new funds entered over the past year (+39% 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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Slight buying edge — 59% buying
258 buying181 selling
Last quarter: 258 funds bought or added vs 181 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.
⚠️
Fewer new buyers each quarter (-21 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 64 → 62 → 108 → 87. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Mixed — 36% long-term, 36% new
■ 36% conviction (2yr+)
■ 28% medium
■ 36% new
Of the 435 current holders: 156 (36%) held >2 years, 123 held 1–2 years, and 156 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Value +29% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +29%, but actual share count only changed +3%. 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.
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Acceleration phase — new buyers rushing in
62 → 64 → 62 → 108 → 87 new funds/Q
New funds entering each quarter: 64 → 62 → 108 → 87. 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.
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Veteran-anchored — 40% veterans vs 38% newcomers
■ 40% veterans
■ 22% 1-2yr
■ 38% new
Entry-cohort mix of 454 holders: 182 (40%) are 2+ year veterans, 100 entered 1–2 years ago, and 172 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
56 of 432 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in ROIV. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.