Based on 52 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their RSPR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 80% of 3.0Y peak
80% of all-time peak
52 funds currently hold this stock — 80% of the 3.0-year high of 65 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
13 fewer hedge funds hold RSPR compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 47% buying
24 buying27 selling
Last quarter: 27 funds reduced or exited vs 24 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.
➡️
Steady new buyers — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 15 → 7 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 27% medium
■ 15% new
30 out of 52 hedge funds have held RSPR 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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Peak discovery — momentum slowing
12 → 7 → 15 → 7 → 9 new funds/Q
New funds entering each quarter: 7 → 15 → 7 → 9. RSPR is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Veteran-anchored — 62% veterans vs 17% newcomers
■ 62% veterans
■ 21% 1-2yr
■ 17% new
Entry-cohort mix of 52 holders: 32 (62%) are 2+ year veterans, 11 entered 1–2 years ago, and 9 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 43% AUM from top-100 funds
43% from top-100 AUM funds
11 of 52 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in RSPR. 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 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.