Based on 101 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added RSPS 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 — 81% of 3.0Y peak
81% of all-time peak
101 funds currently hold this stock — 81% of the 3.0-year high of 125 funds (reached 2023 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 9% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold RSPS compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 48% buying
43 buying47 selling
Last quarter: 47 funds reduced or exited vs 43 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.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new RSPS position: 12 → 12 → 8 → 14. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 20% medium
■ 12% new
69 out of 101 hedge funds have held RSPS 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.
💰
Value +45% but shares only +27% — price-driven
Last quarter: the total dollar value of institutional holdings rose +45%, but actual share count only changed +27%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~14 new funds/quarter
12 → 12 → 12 → 8 → 14 new funds/Q
New funds entering each quarter: 12 → 12 → 8 → 14. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 72% of holders stayed 2+ years
■ 72% veterans
■ 9% 1-2yr
■ 19% new
Of 101 current holders: 73 (72%) 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.
🏆
Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
13 of 101 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in RSPS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.