Based on 755 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 RPM positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
755 hedge funds hold RPM 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding RPM is almost the same as a year ago (-13 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 43% buying
309 buying410 selling
Last quarter: 410 funds reduced or exited vs 309 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.
⚠️
Fewer new buyers each quarter (-50 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 73 → 91 → 125 → 75. 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.
🔒
69% of holders stayed for 2+ years
■ 69% conviction (2yr+)
■ 16% medium
■ 15% new
521 out of 755 hedge funds have held RPM 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.
📈
Growing discovery — still being found
93 → 73 → 91 → 125 → 75 new funds/Q
New funds entering each quarter: 73 → 91 → 125 → 75. A growing number of institutions are discovering RPM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 73% veterans vs 19% newcomers
■ 73% veterans
■ 8% 1-2yr
■ 19% new
Entry-cohort mix of 759 holders: 556 (73%) are 2+ year veterans, 61 entered 1–2 years ago, and 142 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 50% AUM from top-100 funds
50% from top-100 AUM funds
61 of 755 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in RPM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.