Based on 18 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added RPHS 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.
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High ownership — 86% of 3.0Y peak
86% of all-time peak
18 funds currently hold this stock — 86% of the 3.0-year high of 21 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold RPHS compared to a year ago (-10% 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 — 53% buying
10 buying9 selling
Last quarter: 10 funds bought or added vs 9 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.
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Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 4 → 0 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 28% long-term, 33% new
■ 28% conviction (2yr+)
■ 39% medium
■ 33% new
Of the 18 current holders: 5 (28%) held >2 years, 7 held 1–2 years, and 6 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.
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Peak discovery — momentum slowing
6 → 3 → 4 → 0 → 5 new funds/Q
New funds entering each quarter: 3 → 4 → 0 → 5. RPHS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 33% veterans, 44% new entrants
■ 33% veterans
■ 22% 1-2yr
■ 44% new
Of 18 current holders: 6 (33%) held 2+ years, 4 held 1–2 years, 8 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
1 of 18 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.