Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Research Frontiers Inc (REFR)

33 + Investors. Track Smart Money conviction in REFR. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
1Q ▲
Buyers last Q
50%

Smart Money Signals — REFR

Based on 34 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added REFR 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 (97% of max)

97% of all-time peak
34 hedge funds hold REFR 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.
📶

Steady growth — +13% more funds vs a year ago

fund count last 6Q
+4 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 50% buying

13 buying13 selling
Last quarter: 13 funds bought or added vs 13 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 — ~6 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 3 → 8 → 8 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

59% of holders stayed for 2+ years

■ 59% conviction (2yr+) ■ 18% medium ■ 24% new
20 out of 34 hedge funds have held REFR 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.
💎

Buying through price weakness — shares -4%, value -45%

Value
-45%
Shares
-3%
Last quarter: funds added -4% more shares while total portfolio value only changed -45%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~6 new funds/quarter

1 → 3 → 8 → 8 → 6 new funds/Q
New funds entering each quarter: 3 → 8 → 8 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 57% veterans vs 26% newcomers

■ 57% veterans ■ 17% 1-2yr ■ 26% new
Entry-cohort mix of 35 holders: 20 (57%) are 2+ year veterans, 6 entered 1–2 years ago, and 9 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 28% AUM from major funds

28% from top-100 AUM funds
10 of 33 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — REFR

In 2026 Q2, 13 hedge funds were net buyers of REFR (6 opened a new position, 7 added to an existing one), while 13 reduced or exited (8 trimmed, 5 sold completely) — a 50% buyer ratio, indicating a slight buying edge. 28% of total institutional value in REFR is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 34.

Hedge Fund Ownership: REFR

How many hedge funds hold REFR — quarterly history vs. share price
Quarterly hedge fund ownership of REFR vs. share price

Market Analysis: REFR

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: REFR

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Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

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Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

4 top-rated funds 0 high-conviction
Consensus
3.0
/ 10
breadth
×
Elite
0.0
/ 10
conviction
Hedge Fund Positioning: REFR
2026 Q3 Stats Unlock in 45 days 33 + Investors

Track Smart Money conviction in REFR. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 33 33 -
13F Shares 4M 4M -3.79%
Total Value $2M $3M -44.96%
New Positions 6 8 -2
Increased Positions 6 6 -
Closed Positions 5 10 -5
Reduced Positions 8 8 -
Total Calls 2 1 100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: REFR

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Institutional Holders (2026 Q2)

33 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in REFR. Verified SEC 13F-HR filings.

QUARTER:
Top 25 REFR holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Mgo One Seven LLC 0.01% 886,602 $461K
2 FreeGulliver LLC 0.00% 20,000 $10K
3 Shufro Rose & Co LLC 0.00% 97,500 $51K
4 Farrell Financial LLC 0.00% 10,307 $5K
5 CGN Advisors LLC 0.00% 14,350 $7K
6 Evolution Wealth Management INC. 0.00% 1,500 —
7 TCTC Holdings, LLC 0.00% 20,000 $10K
8 Focus Partners Wealth 0.00% 496,422 $258K
9 Hm Payson & Co 0.00% 20,000 $10K
10 XTX Topco Ltd 0.00% 17,504 $9K
11 Tower Research Capital LLC (TRC) 0.00% 9,215 $5K
12 Kingsview Wealth Management, LLC 0.00% 17,150 $9K
13 Focus Partners Advisor Solutions, LLC 0.00% 14,091 $7K
14 Mgo One Seven LLC 0.00% 5,000 $3K
15 Renaissance Technologies LLC 0.00% 40,789 $21K
16 HB Wealth Management, LLC 0.00% 10,000 $5K
17 Schonfeld Strategic Advisors LLC 0.00% 13,857 $7K
18 Vanguard Fiduciary Trust Co 0.00% 177,030 $92K
19 Mercer Global Advisors Inc /Adv 0.00% 14,000 $7K
20 Vanguard Capital Management LLC 0.00% 580,654 $302K
21 Susquehanna International Group, LLP 0.00% 155,066 $81K
22 BlackRock, Inc. 0.00% 532,542 $277K
23 Raymond James Financial Inc 0.00% 17,880 $9K
24 Osaic Holdings, INC. 0.00% 4,000 $2K
25 Citadel Advisors LLC 0.00% 13,200 $7K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Research Frontiers Inc (REFR)

What does the Smart Money Trend signal show for REFR?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added REFR 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.

What is the institutional breadth score for REFR?

Slight buying edge — 50% buying: Last quarter: 13 funds bought or added vs 13 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.

What is the fund quality score for REFR holders?

Strong quality — 28% AUM from major funds: 10 of 33 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held REFR?

59% of holders stayed for 2+ years: 20 out of 34 hedge funds have held REFR 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.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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