Based on 13 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
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.
🔻
Below peak — only 57% of 3.0Y high
57% of all-time peak
Only 13 funds hold RMCOW today versus a peak of 23 funds at 2023 Q3 — just 57% 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.
📉
Outflows — 35% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold RMCOW compared to a year ago (-35% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 40% buying
2 buying3 selling
Last quarter: 3 funds reduced or exited vs 2 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
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.
🔒
62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 15% medium
■ 23% new
8 out of 13 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 — 62% veterans vs 31% newcomers
■ 62% veterans
■ 8% 1-2yr
■ 31% new
Entry-cohort mix of 13 holders: 8 (62%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (31%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 3% AUM from top-100
3% from top-100 AUM funds
2 of 12 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 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.