Based on 160 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 9 quarters in a row
For 9 consecutive quarters, more hedge funds added RAPP 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
160 hedge funds hold RAPP 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.
🚀
Fast accumulation — +98% more funds vs a year ago
fund count last 6Q
+79 new funds entered over the past year (+98% 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.
🟡
Slight buying edge — 58% buying
88 buying63 selling
Last quarter: 88 funds bought or added vs 63 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 — ~32 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 51 → 40 → 29 → 32. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 41% entered in last year
■ 12% conviction (2yr+)
■ 47% medium
■ 41% new
Only 20 funds (12%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +32% but shares only +0% — price-driven
Last quarter: the total dollar value of institutional holdings rose +32%, but actual share count only changed +0%. 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.
📊
Peak discovery — momentum slowing
14 → 51 → 40 → 29 → 32 new funds/Q
New funds entering each quarter: 51 → 40 → 29 → 32. RAPP is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 56% of holders entered in last year
■ 5% veterans
■ 39% 1-2yr
■ 56% new
Of 163 current holders: 91 (56%) entered in the past year, only 8 (5%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆
Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
44 of 160 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in RAPP. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.