Based on 178 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 RSPH 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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At the ownership peak (96% of max)
96% of all-time peak
178 hedge funds hold RSPH 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.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold RSPH compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 49% buying
73 buying75 selling
Last quarter: 75 funds reduced or exited vs 73 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.
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More new buyers each quarter (+20 vs last Q)
new funds entering per quarter
Funds opening a new RSPH position: 16 → 8 → 12 → 32. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 17% medium
■ 18% new
116 out of 178 hedge funds have held RSPH 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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Acceleration phase — new buyers rushing in
24 → 16 → 8 → 12 → 32 new funds/Q
New funds entering each quarter: 16 → 8 → 12 → 32. 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.
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Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 12% 1-2yr
■ 19% new
Of 178 current holders: 122 (69%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
15 of 178 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.