Based on 15 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 RNMBY 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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High ownership — 83% of 3.0Y peak
83% of all-time peak
15 funds currently hold this stock — 83% of the 3.0-year high of 18 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 12% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold RNMBY compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 59% buying
10 buying7 selling
Last quarter: 10 funds bought or added vs 7 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 — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 4 → 3 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 33% medium
■ 20% new
7 out of 15 hedge funds have held RNMBY 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.
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Buying through price weakness — shares +50%, value -30%
Last quarter: funds added +50% more shares while total portfolio value only changed -30%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
5 → 2 → 4 → 3 → 3 new funds/Q
New funds entering each quarter: 2 → 4 → 3 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 40% veterans vs 47% newcomers
■ 40% veterans
■ 13% 1-2yr
■ 47% new
Entry-cohort mix of 15 holders: 6 (40%) are 2+ year veterans, 2 entered 1–2 years ago, and 7 (47%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 12% AUM from top-100
12% from top-100 AUM funds
2 of 15 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.