Based on 113 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their RSPS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 92% of 3.0Y peak
92% of all-time peak
113 funds currently hold this stock — 92% of the 3.0-year high of 123 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding RSPS is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
🔴
Heavy selling pressure — only 33% buying
36 buying73 selling
Last quarter: 73 funds sold vs only 36 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~18 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 15 → 20 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 13% medium
■ 25% new
70 out of 113 hedge funds have held RSPS 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.
🚀
Acceleration phase — new buyers rushing in
13 → 9 → 15 → 20 → 18 new funds/Q
New funds entering each quarter: 9 → 15 → 20 → 18. 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.
🏛️
Veteran-anchored — 65% veterans vs 27% newcomers
■ 65% veterans
■ 9% 1-2yr
■ 27% new
Entry-cohort mix of 113 holders: 73 (65%) are 2+ year veterans, 10 entered 1–2 years ago, and 30 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
18 of 113 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in RSPS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.2
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.