Based on 186 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added AVES 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
186 hedge funds hold AVES 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 — +48% more funds vs a year ago
fund count last 6Q
+60 new funds entered over the past year (+48% 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 buyers than sellers — 66% buying
114 buying58 selling
Last quarter: 114 funds were net buyers (32 opened a brand new position + 82 added to an existing one). Only 58 were sellers (48 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new AVES position: 19 → 27 → 26 → 32. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 39% long-term, 32% new
■ 39% conviction (2yr+)
■ 29% medium
■ 32% new
Of the 186 current holders: 73 (39%) held >2 years, 54 held 1–2 years, and 59 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📈
Growing discovery — still being found
13 → 19 → 27 → 26 → 32 new funds/Q
New funds entering each quarter: 19 → 27 → 26 → 32. A growing number of institutions are discovering AVES each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 39% veterans, 39% new entrants
■ 39% veterans
■ 22% 1-2yr
■ 39% new
Of 186 current holders: 73 (39%) held 2+ years, 40 held 1–2 years, 73 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 29% AUM from major funds
29% from top-100 AUM funds
20 of 186 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.