Based on 30 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their RGS 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 — 79% of 3.0Y peak
79% of all-time peak
30 funds currently hold this stock — 79% of the 3.0-year high of 38 funds (reached 2023 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +36% more funds vs a year ago
fund count last 6Q
+8 new funds entered over the past year (+36% 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 — 50% buying
12 buying12 selling
Last quarter: 12 funds bought or added vs 12 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 — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 8 → 4 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 23% medium
■ 27% new
15 out of 30 hedge funds have held RGS 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.
⚠️
Saturation — most institutions already know this story
1 → 6 → 8 → 4 → 4 new funds/Q
New funds entering each quarter: 6 → 8 → 4 → 4. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Veteran-anchored — 57% veterans vs 30% newcomers
■ 57% veterans
■ 13% 1-2yr
■ 30% new
Entry-cohort mix of 30 holders: 17 (57%) are 2+ year veterans, 4 entered 1–2 years ago, and 9 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
8 of 29 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.