Based on 394 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 RUN 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 — 93% of 3.0Y peak
93% of all-time peak
394 funds currently hold this stock — 93% of the 3.0-year high of 423 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding RUN is almost the same as a year ago (+5 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 58% buying
245 buying181 selling
Last quarter: 245 funds bought or added vs 181 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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More new buyers each quarter (+29 vs last Q)
new funds entering per quarter
Funds opening a new RUN position: 40 → 79 → 63 → 92. 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+)
■ 16% medium
■ 19% new
257 out of 394 hedge funds have held RUN 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 +2%, value -73%
Last quarter: funds added +2% more shares while total portfolio value only changed -73%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
60 → 40 → 79 → 63 → 92 new funds/Q
New funds entering each quarter: 40 → 79 → 63 → 92. A growing number of institutions are discovering RUN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 10% 1-2yr
■ 19% new
Of 443 current holders: 313 (71%) 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.
✅
Strong quality — 33% AUM from major funds
33% from top-100 AUM funds
43 of 394 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.