Based on 202 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 RCAT 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
202 hedge funds hold RCAT 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 — +110% more funds vs a year ago
fund count last 6Q
+106 new funds entered over the past year (+110% 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 — 61% buying
139 buying89 selling
Last quarter: 139 funds were net buyers (62 opened a brand new position + 77 added to an existing one). Only 89 were sellers (54 trimmed + 35 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~62 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 37 → 62 → 60 → 62. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 58% entered in last year
■ 15% conviction (2yr+)
■ 26% medium
■ 58% new
Only 31 funds (15%) 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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Buying through price weakness — shares +1%, value -21%
Last quarter: funds added +1% more shares while total portfolio value only changed -21%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
54 → 37 → 62 → 60 → 62 new funds/Q
New funds entering each quarter: 37 → 62 → 60 → 62. A growing number of institutions are discovering RCAT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 71% of holders entered in last year
■ 22% veterans
■ 7% 1-2yr
■ 71% new
Of 219 current holders: 156 (71%) entered in the past year, only 48 (22%) 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 — 43% AUM from top-100 funds
43% from top-100 AUM funds
31 of 202 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in RCAT. 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.