AARD Hedge Fund Ownership (Q2 2026)

Aardvark Therapeutics Inc (AARD)

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

Smart Money Signals — AARD

Based on 79 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 5 quarters in a row

last 6Q

For 5 consecutive quarters, more hedge funds added AARD 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.

🏔️

At the ownership peak (100% of max)

100% of all-time peak

79 hedge funds hold AARD 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.

🚀

Fast accumulation — +193% more funds vs a year ago

fund count last 6Q

+52 new funds entered over the past year (+193% 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.

🟡

Slight buying edge — 54% buying

49 buying41 selling

Last quarter: 49 funds bought or added vs 41 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.

📈

More new buyers each quarter (+9 vs last Q)

new funds entering per quarter

Funds opening a new AARD position: 17 → 13 → 24 → 33. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.

🔄

Mostly new holders — 61% entered in last year

■ 3% conviction (2yr+) ■ 37% medium ■ 61% new

Only 2 funds (3%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

💎

Buying through price weakness — shares -4%, value -72%

Value

-72%

-4%

Last quarter: funds added -4% more shares while total portfolio value only changed -72%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

🚀

Acceleration phase — new buyers rushing in

27 → 17 → 13 → 24 → 33 new funds/Q

New funds entering each quarter: 17 → 13 → 24 → 33. 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.

🌱

Early stage — 95% of holders entered in last year

■ 5% veterans ■ 0% 1-2yr ■ 95% new

Of 80 current holders: 76 (95%) entered in the past year, only 4 (5%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.

✅

Strong quality — 31% AUM from major funds

31% from top-100 AUM funds

25 of 78 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

6.5

out of 10

Moderate Exit Risk

Exit risk score 6.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

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.

Metric	All 13F Filers (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	70	79	-11.39%
13F Shares	10M	10M	-7.43%
Total Value	$55M	$39M	40.85%
New Positions	18	33	-15
Increased Positions	20	17	+3
Closed Positions	27	19	+8
Reduced Positions	24	21	+3
Total Calls	1	0	100%
Total Puts	2	2	-
PUT/CALL Ratio	2.0	0.0	Bearish

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

-11.39%

13F Shares

10M

-7.43%

Total Value

$55M

$39M

40.85%

New Positions

-15

Increased Positions

Closed Positions

Reduced Positions

Total Calls

100%

Total Puts

PUT/CALL Ratio

2.0

0.0

Bearish

Institutional Holders (2026 Q2)

70 + investors

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

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 AARD holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Decheng Capital LLC	3.08%	3,917,299	$22.6M
2	Laurion Capital Management LP	0.15%	1,034,459	$6.0M
3	EcoR1 Capital, LLC	0.11%	396,194	$2.3M
4	Abel Hall, LLC	0.01%	10,066	$58K
5	Smith, Moore & CO.	0.01%	20,000	$115K
6	Cantor Fitzgerald, L. P.	0.01%	116,582	$672K
7	J. Goldman & Co LP	0.01%	40,500	$233K
8	Prelude Capital Management, LLC	0.01%	12,426	$72K
9	EcoR1 Capital, LLC	0.00%	14,700	$85K
10	Bridgeway Capital Management, LLC	0.00%	24,000	$138K
11	Adage Capital Partners GP, L.L.C.	0.00%	300,000	$1.7M
12	XTX Topco Ltd	0.00%	19,888	$115K
13	Essential Partners LLC	0.00%	509	$3K
14	Woodline Partners LP	0.00%	72,429	$417K
15	Hilton Head Capital Partners, LLC	0.00%	434	$2K
16	China Universal Asset Management Co., Ltd.	0.00%	3,472	$20K
17	Ieq Capital, LLC	0.00%	38,382	$221K
18	Aqr Capital Management LLC	0.00%	480,249	$2.8M
19	Citadel Advisors LLC	0.00%	1,283,166	$7.4M
20	Stone House Investment Management, LLC	0.00%	1,000	$6K
21	Cresset Asset Management, LLC	0.00%	24,033	$138K
22	Two Sigma Investments, LP	0.00%	108,377	$624K
23	Tower Research Capital LLC (TRC)	0.00%	2,501	$14K
24	Arax Advisory Partners	0.00%	8,374	$48K
25	True Wealth Design, LLC	0.00%	162	—

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 — Aardvark Therapeutics Inc (AARD)

What does the Smart Money Trend signal show for AARD?

Buying streak — 5 quarters in a row: For 5 consecutive quarters, more hedge funds added AARD 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.

What is the institutional breadth score for AARD?

Slight buying edge — 54% buying: Last quarter: 49 funds bought or added vs 41 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 AARD holders?

Strong quality — 31% AUM from major funds: 25 of 78 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held AARD?

Mostly new holders — 61% entered in last year: Only 2 funds (3%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

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.

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Aardvark Therapeutics Inc (AARD)

Smart Money Signals — AARD

Buying streak — 5 quarters in a row

At the ownership peak (100% of max)

Fast accumulation — +193% more funds vs a year ago

Slight buying edge — 54% buying

More new buyers each quarter (+9 vs last Q)

Mostly new holders — 61% entered in last year

Buying through price weakness — shares -4%, value -72%

Acceleration phase — new buyers rushing in

Early stage — 95% of holders entered in last year

Strong quality — 31% AUM from major funds

Institutional Sentiment Summary — AARD

Hedge Fund Ownership: AARD

Market Analysis: AARD

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: AARD

Hedge Fund Positioning: AARD

Statistics: AARD

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Aardvark Therapeutics Inc (AARD)

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