Vault-13

RF INDS LTD RFIL

COM PAR $0.01 · Common Stock · CUSIP 749552105

67 institutional holders +15 vs Q4 2025
4,565,6554.6m shares reported held*
42.2% of all shares outstanding*
$47.2mreported value*
20 new 22 added 17 reduced 7 sold out net bought ≈ $7.0m (+681.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 10.8m as of 2026-03-16, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $10.33. Options: 4 managers hold calls ($308.3k notional), 3 hold puts ($308.3k).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 27Q4 22: 29Q1 23: 27Q2 23: 28Q3 23: 29Q4 23: 26Q1 24: 27Q2 24: 32Q3 24: 28Q4 24: 29Q1 25: 32Q2 25: 36Q3 25: 51Q4 25: 52Q1 26: 6767Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202227
Q4 202229
Q1 202327
Q2 202328
Q3 202329
Q4 202326
Q1 202427
Q2 202432
Q3 202428
Q4 202429
Q1 202532
Q2 202536
Q3 202551
Q4 202552
Q1 202667

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q2 24: 14 bought or addedQ2 24: 6 cut or sold outQ3 24: 5 bought or addedQ3 24: 12 cut or sold outQ3 24Q4 24: 9 bought or addedQ4 24: 9 cut or sold outQ1 25: 13 bought or addedQ1 25: 10 cut or sold outQ1 25Q2 25: 16 bought or addedQ2 25: 8 cut or sold outQ3 25: 36 bought or addedQ3 25: 12 cut or sold outQ3 25Q4 25: 27 bought or addedQ4 25: 21 cut or sold outQ1 26: 42 bought or addedQ1 26: 24 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024146
Q3 2024512
Q4 202499
Q1 20251310
Q2 2025168
Q3 20253612
Q4 20252721
Q1 20264224

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600k$800kQ2 25 calls: $181.8kQ2 25 puts: $83.5kQ2 25P/C 0.46Q3 25 calls: $604.1kQ3 25 puts: $189.3kQ3 25P/C 0.31Q4 25 calls: $271.1kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $308.3kQ1 26 puts: $308.3kQ1 26P/C 1.00
Numbers
QuarterCallsPutsP/C
Q2 2025$181.8k$83.5k0.46
Q3 2025$604.1k$189.3k0.31
Q4 2025$271.1k$00.00
Q1 2026$308.3k$308.3k1.00

Biggest buyers

MACKENZIE FINANCIAL CORP New +90,017+90.0k
MARSHALL WACE, LLP Added +84,156+84.2k
WELLS FARGO & COMPANY/MN Added +75,231+75.2k
Walleye Capital LLC New +70,941+70.9k
Trexquant Investment LP Added +65,790+65.8k
JANE STREET GROUP, LLC Added +61,892+61.9k
SEI INVESTMENTS CO Added +60,503+60.5k
Timothy G. Youngquist 2020 Irrevocable Trust New +59,993+60.0k
Centiva Capital, LP Added +53,257+53.3k
TWO SIGMA INVESTMENTS, LP Added +42,405+42.4k

Biggest sellers

CITADEL ADVISORS LLC Sold out -67,784-67.8k
O'SHAUGHNESSY ASSET MANAGEMENT, LLC Reduced -60,851-60.9k
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Reduced -54,350-54.4k
Quadrature Capital Ltd Sold out -32,938-32.9k
RITHOLTZ WEALTH MANAGEMENT Reduced -24,857-24.9k
Jump Financial, LLC Sold out -15,000-15.0k
DIMENSIONAL FUND ADVISORS LP Reduced -14,692-14.7k
TWO SIGMA ADVISERS, LP Sold out -14,300-14.3k
Heron Bay Capital Management Sold out -13,119-13.1k
RENAISSANCE TECHNOLOGIES LLC Reduced -11,944-11.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $171.1k16.6k shares
CITADEL ADVISORS LLC Reduced $119.6k11.6k shares
SIMPLEX TRADING, LLC Added $15.5k1.5k shares
GROUP ONE TRADING LLC Reduced $2.1k200 shares

Biggest puts

CITADEL ADVISORS LLC New $183.5k17.8k shares
SIMPLEX TRADING, LLC New $123.7k12.0k shares
GROUP ONE TRADING LLC New $1.0k100 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 13G · institution -2.2 pts · filed 2026-08-14 5.4% -2.2 pts 588.1k≈ $12.5m 2026-08-14
BlackRock, Inc. 13G · institution new · filed 2026-07-29 5.4% new 591.2k≈ $12.5m 2026-07-29

Fell to 5% or below in the last year: RENAISSANCE TECHNOLOGIES LLC (4.8%, 2025-11-13)

Insider purchases and sales in Q1 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q2 24: 0 buyingQ2 24: 0 sellingQ3 24: 1 buyingQ3 24: 0 sellingQ3 24Q4 24: 1 buyingQ4 24: 0 sellingQ1 25: 1 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25Q4 25: 0 buyingQ4 25: 0 sellingQ1 26: 0 buyingQ1 26: 0 sellingQ1 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q2 20240—0——
Q3 20241$20.5k0——
Q4 20241$139.2k0——
Q1 20251$70.8k0——
Q2 20250—0——
Q3 20250—0——
Q4 20250—0——
Q1 20260—0——

None reported in Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.49% of their portfolio EDINA, MN 822,800822.8k $8.5m $8.5m 0.49% Reduced -54.4k -54,350
2 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 494,664494.7k $5.1m $5.1m 0.01% Reduced -11.9k -11,944
3 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 352,175352.2k $3.6m $3.6m 0.00% First filing
4 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 301,451301.5k $3.1m $3.1m 0.00% Added +84.2k +84,156
5 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 226,965227.0k $2.3m $2.3m 0.00% Reduced -14.7k -14,692
6 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 190,654190.7k $2.0m $2.0m 0.00% Reduced -9.9k -9,935
7 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio Stamford, CT 151,588151.6k $1.6m $1.6m 0.01% Reduced -60.9k -60,851
8 BlackRock, Inc. 0.00% of their portfolio New York, NY 149,972150.0k $1.5m $1.5m 0.00% Added +19.8k +19,842
9 RITHOLTZ WEALTH MANAGEMENT 0.02% of their portfolio NEW YORK, NY 129,031129.0k $1.3m $1.3m 0.02% Reduced -24.9k -24,857
10 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 107,710107.7k $1.1m $1.1m 0.00% Added +4.6k +4,558
11 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 94,73294.7k $976.7k $976.7k 0.00% Added +42.4k +42,405
12 MACKENZIE FINANCIAL CORP 0.00% of their portfolio TORONTO ONTARIO, A6 90,01790.0k $928.1k $928.1k 0.00% New
13 Trexquant Investment LP 0.01% of their portfolio STAMFORD, CT 87,91387.9k $906.4k $906.4k 0.01% Added +65.8k +65,790
14 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.02% of their portfolio HOUSTON, TX 86,69686.7k $893.8k $893.8k 0.02% Unchanged
15 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 85,55385.6k $882.1k $882.1k 0.00% Added +61.9k +61,892
16 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 84,03084.0k $866.3k $866.3k 0.00% Added +60.5k +60,503
17 ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio Boston, MA 77,72677.7k $799.0k $799.0k 0.00% Added +20.8k +20,812
18 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 75,23275.2k $775.6k $775.6k 0.00% Added +75.2k +75,231
19 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 70,94170.9k $731.4k $731.4k 0.00% New
20 Centiva Capital, LP 0.03% of their portfolio New York, NY 69,99470.0k $721.6k $721.6k 0.03% Added +53.3k +53,257
21 Informed Momentum Co LLC 0.08% of their portfolio SOLANA BEACH, CA 66,92066.9k $689.9k $689.9k 0.08% Added +34.5k +34,452
22 Timothy G. Youngquist 2020 Irrevocable Trust 0.30% of their portfolio FORT MYERS, FL 59,99360.0k $618.5k $618.5k 0.30% New
23 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 55,33655.3k $570.5k $570.5k 0.00% First filing
24 Man Group plc 0.00% of their portfolio LONDON, X0 45,30545.3k $467.1k $467.1k 0.00% Added +18.7k +18,682
25 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 44,98445.0k $463.8k $463.8k 0.00% Added +6.5k +6,500
26 GSA CAPITAL PARTNERS LLP 0.03% of their portfolio LONDON, X0 43,09543.1k $444.0k $444.0k 0.03% Added +20.2k +20,203
27 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 43,04443.0k $443.8k $443.8k 0.00% Added +31.3k +31,262
28 Hillsdale Investment Management Inc. 0.01% of their portfolio Toronto, A6 41,00641.0k $422.8k $422.8k 0.01% Reduced -9.0k -9,000
29 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 35,26435.3k $363.6k $363.6k 0.00% New
30 BAILARD, INC. 0.01% of their portfolio Foster City, CA 33,52533.5k $345.6k $345.6k 0.01% Reduced -3.1k -3,100
31 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 28,35928.4k $292.4k $292.4k 0.00% Reduced -2.1k -2,111
32 Integrated Quantitative Investments LLC 0.04% of their portfolio BELLEVUE, WA 23,85223.9k $245.9k $245.9k 0.04% New
33 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 23,20423.2k $239.2k $239.2k 0.00% Reduced -2.0k -2,023
34 OCCUDO QUANTITATIVE STRATEGIES LP 0.02% of their portfolio FORT LAUDERDALE, FL 22,26822.3k $323.6k $323.6k 0.02% New
35 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 20,63420.6k $212.7k $212.7k 0.00% Added +17.3k +17,302
36 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 18,50518.5k $190.8k $190.8k 0.00% Reduced -9.6k -9,589
37 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 18,11118.1k $186.7k $186.7k 0.00% Added +1.7k +1,679
38 ESSEX INVESTMENT MANAGEMENT CO LLC 0.03% of their portfolio BOSTON, MA 17,89517.9k $184.5k $184.5k 0.03% Reduced -6.7k -6,703
39 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 16,55116.6k $170.6k $170.6k 0.00% New
40 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 14,97215.0k $154.4k $154.4k 0.00% New
41 UBS Group AG 0.00% of their portfolio ZURICH, V8 14,70014.7k $151.6k $151.6k 0.00% Added +13.8k +13,798
42 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 14,15914.2k $146.0k $146.0k 0.00% Added +10.9k +10,867
43 MANGROVE PARTNERS IM, LLC 0.01% of their portfolio Greenwich, CT 12,89212.9k $132.9k $132.9k 0.01% New
44 OMERS ADMINISTRATION Corp 0.00% of their portfolio TORONTO, A6 12,70012.7k $130.9k $130.9k 0.00% New
45 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 11,86111.9k $122.0k $122.0k 0.00% New
46 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 11,41111.4k $117.6k $117.6k 0.00% Reduced -2.0k -1,979
47 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 11,30011.3k $116.5k $116.5k 0.00% New
48 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 11,20711.2k $109.3k $109.3k 0.00% New
49 AXQ CAPITAL, LP 0.01% of their portfolio JERSEY CITY, NJ 10,65810.7k $109.9k $109.9k 0.01% New
50 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 6,1176.1k $63.1k $63.1k 0.00% New
51 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 4,9955.0k $51.5k $51.5k 0.00% Reduced -9.6k -9,593
52 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 4,8004.8k $49.5k $49.5k 0.00% First filing
53 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 3,5003.5k $37.1k $37.1k 0.00% Unchanged
54 Founders Capital Management 0.02% of their portfolio HOUSTON, TX 3,4203.4k $35.3k $35.3k 0.02% Added +1.6k +1,600
55 Indiana Trust & Investment Management Co 0.01% of their portfolio MISHAWAKA, IN 1,6751.7k $17.3k $17.3k 0.01% Unchanged
56 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 1,3501.4k $13.9k $13.9k 0.00% Unchanged
57 North Star Investment Management Corp. 0.00% of their portfolio CHICAGO, IL 1,3251.3k $13.7k $13.7k 0.00% Unchanged
58 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,1031.1k $11.4k $11.4k 0.00% New
59 Destiny Wealth Partners, LLC 0.00% of their portfolio TAVARES, FL 1,0221.0k $10.5k $10.5k 0.00% New
60 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,0001.0k $10.3k $10.3k 0.00% Added +800 +800
61 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.00% of their portfolio BLUE BELL, PA 841841 $8.7k $8.7k 0.00% New
62 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 422422 $4.4k $4.4k 0.00% Reduced -2.0k -1,997
63 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 214214 $2.2k $2.2k 0.00% Reduced -43 -43
64 FMR LLC 0.00% of their portfolio BOSTON, MA 179179 $1.8k $1.8k 0.00% Reduced -621 -621
65 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 8686 $1.0k $1.0k 0.00% Added +80 +80
66 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 4242 $434 $434 0.00% New
67 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 99 $93 $93 0.00% New