Based on 117 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added AVD 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 — 82% of 3.0Y peak
82% of all-time peak
117 funds currently hold this stock — 82% of the 3.0-year high of 142 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 12% fewer funds vs a year ago
fund count last 6Q
16 fewer hedge funds hold AVD compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 54% buying
68 buying57 selling
Last quarter: 68 funds bought or added vs 57 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 (+17 vs last Q)
new funds entering per quarter
Funds opening a new AVD position: 12 → 17 → 12 → 29. 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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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 17% medium
■ 15% new
80 out of 117 hedge funds have held AVD 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 -6%, value -39%
Last quarter: funds added -6% more shares while total portfolio value only changed -39%. 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
17 → 12 → 17 → 12 → 29 new funds/Q
New funds entering each quarter: 12 → 17 → 12 → 29. A growing number of institutions are discovering AVD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 71% veterans vs 19% newcomers
■ 71% veterans
■ 10% 1-2yr
■ 19% new
Entry-cohort mix of 117 holders: 83 (71%) are 2+ year veterans, 12 entered 1–2 years ago, and 22 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
31 of 117 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in AVD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.