Based on 138 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 7 quarters in a row
For 7 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
138 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.
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Fast accumulation — +106% more funds vs a year ago
fund count last 6Q
+71 new funds entered over the past year (+106% 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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More buyers than sellers — 64% buying
87 buying49 selling
Last quarter: 87 funds were net buyers (37 opened a brand new position + 50 added to an existing one). Only 49 were sellers (30 trimmed + 19 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 19 → 13 → 50 → 37. 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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Mostly new holders — 50% entered in last year
■ 4% conviction (2yr+)
■ 46% medium
■ 50% new
Only 6 funds (4%) 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.
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Acceleration phase — new buyers rushing in
19 → 19 → 13 → 50 → 37 new funds/Q
New funds entering each quarter: 19 → 13 → 50 → 37. 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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Early stage — 63% of holders entered in last year
■ 6% veterans
■ 31% 1-2yr
■ 63% new
Of 139 current holders: 87 (63%) entered in the past year, only 9 (6%) 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.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
30 of 138 holders are among the 100 largest funds by AUM, controlling 41% 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.
5.7
out of 10
Moderate Exit Risk
Exit risk score 5.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.