Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Aardvark Therapeutics Inc (AARD)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +14
Streak
5Q ▲
Buyers last Q
54%

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%
Shares
-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 — 24% AUM from major funds

24% from top-100 AUM funds
24 of 78 holders rank in the top 100 by AUM, accounting for 24% 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.

Institutional Sentiment Summary — AARD

In 2026 Q1, 49 hedge funds were net buyers of AARD (33 opened a new position, 16 added to an existing one), while 41 reduced or exited (22 trimmed, 19 sold completely) — a 54% buyer ratio, indicating a slight buying edge. This marks 5 consecutive quarters of net institutional buying — a persistent conviction signal. 24% of total institutional value in AARD is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +14 funds (more new holders than closures). Total institutional holders: 79.

Hedge Fund Ownership: AARD

How many hedge funds hold AARD — quarterly history vs. share price
Quarterly hedge fund ownership of AARD vs. share price

Market Analysis: AARD

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: AARD

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Aardvark Therapeutics Inc (AARD) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much AARD has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 84d ago
AARD
+16.4%
XLV
+2.8%

AARD outperformed XLV by +13.6% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 39d ago
AARD
-8.0%
XLV
+3.9%

Since the filing became public, AARD outperformed XLV by -11.9% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

14 top-rated funds 1 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
0.6
/ 10
conviction
Hedge Fund Positioning: AARD
79 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 79 65 21.54%
13F Shares 10M 11M -4.27%
Total Value $39M $141M -72.37%
New Positions 33 24 +9
Increased Positions 17 26 -9
Closed Positions 19 6 +13
Reduced Positions 21 9 +12
Total Calls 0 0 -
Total Puts 2 0 100%
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: AARD

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

79 + 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:
Top 25 AARD holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Decheng Capital LLC 2.23% 3,917,299 $14.8M
2 Tetragon Partners GP Ltd 0.23% 316,621 $1.2M
3 Laurion Capital Management LP 0.17% 1,034,459 $3.9M
4 Silverarc Capital Management, LLC 0.01% 33,684 $127K
5 Prelude Capital Management, LLC 0.01% 30,637 $116K
6 Cantor Fitzgerald, L. P. 0.00% 66,682 $251K
7 Bridgeway Capital Management, LLC 0.00% 27,000 $102K
8 Adage Capital Partners GP, L.L.C. 0.00% 300,000 $1.1M
9 Essential Partners LLC 0.00% 1,068 $4K
10 XTX Topco Ltd 0.00% 19,915 $75K
11 China Universal Asset Management Co., Ltd. 0.00% 3,864 $15K
12 Woodline Partners LP 0.00% 72,429 $273K
13 Hilton Head Capital Partners, LLC 0.00% 434 $2K
14 Citadel Advisors LLC 0.00% 1,242,777 $4.7M
15 Cresset Asset Management, LLC 0.00% 43,259 $163K
16 Centiva Capital, LP 0.00% 24,782 $93K
17 Stone House Investment Management, LLC 0.00% 1,000 $4K
18 Tower Research Capital LLC (TRC) 0.00% 5,467 $21K
19 Two Sigma Investments, LP 0.00% 163,355 $616K
20 Renaissance Technologies LLC 0.00% 70,792 $267K
21 Alps Advisors Inc 0.00% 17,727 $67K
22 Ieq Capital, LLC 0.00% 16,485 $62K
23 Aqr Capital Management LLC 0.00% 134,495 $507K
24 Millennium Management LLC 0.00% 98,334 $371K
25 Wealth Preservation Advisors, LLC 0.00% 31 —
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 — 24% AUM from major funds: 24 of 78 holders rank in the top 100 by AUM, accounting for 24% 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.

Is it too late to buy Aardvark Therapeutics Inc (AARD) following the 2026 Q1 hedge fund 13F filings?

As of today, AARD has moved -8.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.9% for the XLV sector ETF — an outperformance of -11.9%. Since the quarter end (March 31, 2026), AARD has gained +16.4% vs +2.8% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

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.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →