Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added RNEM 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.
📊
High ownership — 72% of 3.0Y peak
72% of all-time peak
18 funds currently hold this stock — 72% of the 3.0-year high of 25 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +6% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 67% buying
10 buying5 selling
Last quarter: 10 funds were net buyers (3 opened a brand new position + 7 added to an existing one). Only 5 were sellers (4 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 2 → 3 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
83% of holders stayed for 2+ years
■ 83% conviction (2yr+)
■ 6% medium
■ 11% new
15 out of 18 hedge funds have held RNEM 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 — ~3 new funds/quarter
3 → 0 → 2 → 3 → 3 new funds/Q
New funds entering each quarter: 0 → 2 → 3 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 89% veterans vs 6% newcomers
■ 89% veterans
■ 6% 1-2yr
■ 6% new
Entry-cohort mix of 18 holders: 16 (89%) are 2+ year veterans, 1 entered 1–2 years ago, and 1 (6%) 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
6 of 18 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.
Exit risk score 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.