This cluster is entirely passive/index-driven with no active manager conviction — the signal is weak. Monitor for any active fund 13F filings in the next cycle that could indicate genuine institutional interest.
Executive Summary
Five mega-passive institutional investors (Vanguard, BlackRock, State Street, Fidelity, T. Rowe Price) significantly increased their positions in RR during Q4 2025, adding a net $28.0M in holdings to reach $80.3M total. The cluster is entirely passive/index-driven, reflecting likely index rebalancing or fund inflows rather than an active investment thesis.
Key Financial Metrics
Institutional Positions
Net institutional flow: $28.0M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Vanguard | ADD | +81.8% | $27.1M | $7.3M |
| BlackRock | DOUBLED | +111.8% | $36.5M | $13.6M |
| State Street | ADD | +99.7% | $14.4M | $4.8M |
| Fidelity | DOUBLED | +12207% | $2.3M | $2.3M |
| T. Rowe Price | ADD | +50.2% | $339.00 | $189.00 |
Key Facts
- 5 institutional buyers added $28.0M net, bringing total holdings to $80.3M
- All buyers are mega-passive/index funds: Vanguard, BlackRock, State Street, Fidelity, T. Rowe Price
- BlackRock doubled its position (+111.8% shares, +$13.6M value) — the largest dollar increase
- No institutional sellers in the cluster
Financial Impact
5 institutions accumulated $28.0M in new positions, bringing total institutional holdings in the cluster to $80.3M
Risk Factors
- All buyers are passive/index funds — no active investment thesis behind the moves
- 13F data is 45+ days stale; positions may have already been unwound
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-RR-2025-Q4 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 2, 2026 24d ago | 8-K | $1.72 | awaiting T+20 | — | — |
Sep 21, 2026 5w ago | 8-K | $1.74 $1.26 | ▼ −27.59% | ▼ −26.68% | — |
Aug 25, 2026 8w ago | 8-K | $1.97 $1.74 | ▼ −11.68% | ▼ −12.92% | — |
Aug 7, 2026 11w ago | 10-Q/A | $1.71 $1.74 | ▼ −1.75% | ▼ −2.67% | — |
Jun 11, 2026 19w ago | 8-K | $2.13 $1.72 | ▲ +19.25% | ▲ +21.03% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $2.30 $1.78 | ▼ −22.61% | ▼ −24.50% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $2.30 $1.78 | ▼ −22.61% | ▼ −24.50% | — |
Jun 3, 2026 20w ago | 8-K | $2.70 $1.96 | ▼ −27.27% | ▼ −26.27% | — |
May 28, 2026 21w ago | 8-K | $3.02 $1.98 | ▲ +34.44% | ▲ +32.64% | — |
Mar 20, 2026 31w ago | Press Release | $2.16 $2.57 | ▲ +18.98% | ▲ +9.66% | — |
US Market Status
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