Based on 127 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added RSPU 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 (100% of max)
100% of all-time peak
127 hedge funds hold RSPU 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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Fast accumulation — +25% more funds vs a year ago
fund count last 6Q
+25 new funds entered over the past year (+25% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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More buyers than sellers — 68% buying
76 buying36 selling
Last quarter: 76 funds were net buyers (22 opened a brand new position + 54 added to an existing one). Only 36 were sellers (27 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~22 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 12 → 21 → 22. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 20% medium
■ 24% new
72 out of 127 hedge funds have held RSPU 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
15 → 14 → 12 → 21 → 22 new funds/Q
New funds entering each quarter: 14 → 12 → 21 → 22. 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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Veteran-anchored — 59% veterans vs 28% newcomers
■ 59% veterans
■ 13% 1-2yr
■ 28% new
Entry-cohort mix of 127 holders: 75 (59%) are 2+ year veterans, 17 entered 1–2 years ago, and 35 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 46% AUM from top-100 funds
46% from top-100 AUM funds
15 of 127 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in RSPU. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.