Based on 322 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added RNA 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
322 hedge funds hold RNA 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 — +43% more funds vs a year ago
fund count last 6Q
+97 new funds entered over the past year (+43% 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 — 58% buying
219 buying161 selling
Last quarter: 219 funds bought or added vs 161 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.
📈
More new buyers each quarter (+64 vs last Q)
new funds entering per quarter
Funds opening a new RNA position: 37 → 25 → 79 → 143. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 29% long-term, 47% new
■ 29% conviction (2yr+)
■ 25% medium
■ 47% new
Of the 322 current holders: 92 (29%) held >2 years, 79 held 1–2 years, and 151 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Price up while funds trimmed (+57% value, -11% shares)
Last quarter: total value of institutional RNA holdings rose +57% even though funds reduced share count by 11%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
🚀
Acceleration phase — new buyers rushing in
50 → 37 → 25 → 79 → 143 new funds/Q
New funds entering each quarter: 37 → 25 → 79 → 143. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
📊
Mixed cohorts — 39% veterans, 47% new entrants
■ 39% veterans
■ 15% 1-2yr
■ 47% new
Of 343 current holders: 133 (39%) held 2+ years, 50 held 1–2 years, 160 (47%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 33% AUM from major funds
33% from top-100 AUM funds
42 of 322 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.9
out of 10
Moderate Exit Risk
Exit risk score 4.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.