Based on 14 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their RMCOW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 61% of 3.0Y high
61% of all-time peak
Only 14 funds hold RMCOW today versus a peak of 23 funds at 2023 Q3 — just 61% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 30% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold RMCOW compared to a year ago (-30% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 50% buying
2 buying2 selling
Last quarter: 2 funds bought or added vs 2 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 — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 4 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 14% medium
■ 21% new
9 out of 14 hedge funds have held RMCOW 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.
➡️
Steady discovery — ~1 new funds/quarter
0 → 1 → 4 → 4 → 1 new funds/Q
New funds entering each quarter: 1 → 4 → 4 → 1. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 64% veterans vs 29% newcomers
■ 64% veterans
■ 7% 1-2yr
■ 29% new
Entry-cohort mix of 14 holders: 9 (64%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 3% AUM from top-100
3% from top-100 AUM funds
2 of 13 holders rank in the top 100 by AUM, but together hold only 3% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.