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 70 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their AARD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

📊

High ownership — 89% of 3.0Y peak

89% of all-time peak

70 funds currently hold this stock — 89% of the 3.0-year high of 79 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.

🚀

Fast accumulation — +100% more funds vs a year ago

fund count last 6Q

+35 new funds entered over the past year (+100% 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.

🟠

More sellers than buyers — 42% buying

38 buying52 selling

Last quarter: 52 funds reduced or exited vs 38 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

⚠️

Fewer new buyers each quarter (-15 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 13 → 24 → 33 → 18. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔄

Mostly new holders — 61% entered in last year

■ 1% conviction (2yr+) ■ 37% medium ■ 61% new

Only 1 funds (1%) 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.

💰

Price up while funds trimmed (+41% value, -7% shares)

Value

+40%

-7%

Last quarter: total value of institutional AARD holdings rose +41% even though funds reduced share count by 7%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.

📈

Growing discovery — still being found

17 → 13 → 24 → 33 → 18 new funds/Q

New funds entering each quarter: 13 → 24 → 33 → 18. A growing number of institutions are discovering AARD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🌱

Early stage — 77% of holders entered in last year

■ 3% veterans ■ 21% 1-2yr ■ 77% new

Of 73 current holders: 56 (77%) entered in the past year, only 2 (3%) 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 — 28% AUM from major funds

28% from top-100 AUM funds

20 of 70 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

5.4

out of 10

Moderate Exit Risk

Exit risk score 5.4/10 — 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 Q3)

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:

2026 Q3 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.

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	Laurion Capital Management LP	0.09%	1,034,459	$5.5M
2	Abel Hall, LLC	0.01%	10,066	$53K
3	Smith, Moore & CO.	0.01%	23,725	$125K
4	Hilton Head Capital Partners, LLC	0.00%	434	$2K
5	China Universal Asset Management Co., Ltd.	0.00%	3,993	$21K
6	Stone House Investment Management, LLC	0.00%	1,000	$5K
7	Quadrature Capital Ltd	0.00%	12,271	$65K
8	Essential Partners LLC	0.00%	160	—
9	Ieq Capital, LLC	0.00%	10,294	$54K
10	Raymond James Financial Inc	0.00%	92,892	$490K
11	Arax Advisory Partners	0.00%	4,210	$22K
12	Simplex Trading, LLC	0.00%	37,538	$198K
13	Vanguard Fiduciary Trust Co	0.00%	75,172	$396K
14	GAMMA Investing LLC	0.00%	388	$2K
15	Vanguard Capital Management LLC	0.00%	557,926	$2.9M
16	EverSource Wealth Advisors, LLC	0.00%	286	$2K
17	True Wealth Design, LLC	0.00%	27	—
18	Gf Fund Management CO. LTD.	0.00%	492	$3K
19	Jane Street Group, LLC	0.00%	68,636	$362K
20	Barclays plc	0.00%	25,792	$136K
21	BNP Paribas Financial Markets	0.00%	9,971	$53K
22	Allworth Financial LP	0.00%	813	$5K
23	Mirae Asset Global Investments Co., Ltd.	0.00%	1,118	$6K
24	Jane Street Group, LLC	0.00%	22,800	$120K
25	Fortitude Family Office, LLC	0.00%	11	—

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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their AARD 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 AARD?

More sellers than buyers — 42% buying: Last quarter: 52 funds reduced or exited vs 38 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for AARD holders?

Strong quality — 28% AUM from major funds: 20 of 70 holders rank in the top 100 by AUM, accounting for 28% 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 1 funds (1%) 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

Selling streak — 1 quarter in a row

High ownership — 89% of 3.0Y peak

Fast accumulation — +100% more funds vs a year ago

More sellers than buyers — 42% buying

Fewer new buyers each quarter (-15 vs last Q)

Mostly new holders — 61% entered in last year

Price up while funds trimmed (+41% value, -7% shares)

Growing discovery — still being found

Early stage — 77% of holders entered in last year

Strong quality — 28% 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 Q3)

Frequently Asked Questions — Aardvark Therapeutics Inc (AARD)

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