Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Runway Growth Finance Corp (RWAY)

84 + Investors. Track Smart Money conviction in RWAY. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -2
Streak
2Q ▼
Buyers last Q
50%

Smart Money Signals — RWAY

Based on 84 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their RWAY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (95% of max)

95% of all-time peak
84 hedge funds hold RWAY 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.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding RWAY is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 50% buying

45 buying45 selling
Last quarter: 45 funds bought or added vs 45 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.
➡️

Steady new buyers — ~18 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 12 → 19 → 14 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 36% long-term, 33% new

■ 36% conviction (2yr+) ■ 31% medium ■ 33% new
Of the 84 current holders: 30 (36%) held >2 years, 26 held 1–2 years, and 28 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.
💎

Buying through price weakness — shares -1%, value -24%

Value
-23%
Shares
0%
Last quarter: funds added -1% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~18 new funds/quarter

18 → 12 → 19 → 14 → 18 new funds/Q
New funds entering each quarter: 12 → 19 → 14 → 18. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 40% veterans vs 41% newcomers

■ 40% veterans ■ 20% 1-2yr ■ 41% new
Entry-cohort mix of 86 holders: 34 (40%) are 2+ year veterans, 17 entered 1–2 years ago, and 35 (41%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 8% AUM from top-100

8% from top-100 AUM funds
14 of 82 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — RWAY

In 2026 Q1, 45 hedge funds were net buyers of RWAY (18 opened a new position, 27 added to an existing one), while 45 reduced or exited (25 trimmed, 20 sold completely) — a 50% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. Net fund flow last quarter: -2 funds (more exits than new entries). Total institutional holders: 84.

Hedge Fund Ownership: RWAY

How many hedge funds hold RWAY — quarterly history vs. share price
Quarterly hedge fund ownership of RWAY vs. share price

Market Analysis: RWAY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: RWAY

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Runway Growth Finance Corp (RWAY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much RWAY has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 77d ago
RWAY
-17.0%
XLF
+1220.3%

RWAY outperformed XLF by -1237.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 32d ago
RWAY
-9.8%
XLF
+4.8%

Since the filing became public, RWAY outperformed XLF by -14.6% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

3 top-rated funds 2 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
1.9
/ 10
conviction
Hedge Fund Positioning: RWAY
84 + Investors

Track Smart Money conviction in RWAY. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 84 86 -2.33%
13F Shares 22M 22M -0.9%
Total Value $149M $195M -23.58%
New Positions 18 14 +4
Increased Positions 27 33 -6
Closed Positions 20 16 +4
Reduced Positions 24 26 -2
Total Calls 2 2 -
Total Puts 2 1 100.0%
PUT/CALL Ratio 1.0 0.5 Neutral

Statistics: RWAY

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Valuation Measures Data as of: --

Market Cap --
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Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

84 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in RWAY. Verified SEC 13F-HR filings.

QUARTER:
Top 25 RWAY holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 North Ground Capital 7.96% 961,326 $6.6M
2 Allium Financial Advisors, LLC 4.27% 775,805 $5.3M
3 Bulldog Investors, LLP 1.85% 1,200,129 $8.2M
4 Sbe LLC Dba Cedar Cove Wealth Partners 0.79% 218,167 $1.5M
5 Oaktree Capital Management LP 0.77% 7,029,667 $48.3M
6 Alpine Global Management, LLC 0.70% 681,251 $4.7M
7 Sound Income Strategies, LLC 0.61% 1,843,232 $12.5M
8 Ares Management LLC 0.53% 1,177,823 $8.1M
9 Closed-End Fund Advisors, Inc. 0.39% 56,500 $388K
10 Virtus Investment Advisers, LLC 0.18% 96,849 $665K
11 Blue Line Capital, LLC / IL 0.12% 14,888 $102K
12 Crewe Advisors LLC 0.10% 172,002 $1.2M
13 Sunbeam Capital Management, LLC 0.10% 24,575 $169K
14 nVerses Capital, LLC 0.09% 13,937 $96K
15 Norden Group LLC 0.06% 97,447 $669K
16 Evanson Asset Management, LLC 0.06% 150,467 $1.0M
17 Summit Financial, LLC 0.05% 527,991 $3.6M
18 Hennion & Walsh Asset Management, Inc. 0.02% 96,051 $660K
19 Steel Grove Capital Advisors, LLC 0.02% 26,513 $182K
20 Aquatic Capital Management LLC 0.01% 70,585 $485K
21 Mirabella Financial Services LLP 0.01% 21,164 $145K
22 State of Wyoming 0.01% 14,921 $103K
23 Jump Financial, LLC 0.01% 129,170 $887K
24 Axq Capital, LP 0.01% 13,197 $91K
25 Two Sigma Advisers, LP 0.01% 627,800 $5.6M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Runway Growth Finance Corp (RWAY)

What does the Smart Money Trend signal show for RWAY?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their RWAY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for RWAY?

Slight buying edge — 50% buying: Last quarter: 45 funds bought or added vs 45 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.

What is the fund quality score for RWAY holders?

Smaller funds dominant — 8% AUM from top-100: 14 of 82 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held RWAY?

Mixed — 36% long-term, 33% new: Of the 84 current holders: 30 (36%) held >2 years, 26 held 1–2 years, and 28 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.

Is it too late to buy Runway Growth Finance Corp (RWAY) following the 2026 Q1 hedge fund 13F filings?

As of today, RWAY has moved -9.8% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLF sector ETF — an outperformance of -14.6%. Since the quarter end (March 31, 2026), RWAY has gained -17.0% vs +1220.3% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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