Based on 12 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their AVL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 67% of 3.0Y high
67% of all-time peak
Only 12 funds hold AVL today versus a peak of 18 funds at 2025 Q4 — just 67% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
🚀
Fast accumulation — +140% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+140% 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.
🔴
Heavy selling pressure — only 29% buying
7 buying17 selling
Last quarter: 17 funds sold vs only 7 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 9 → 1 → 10 → 3. 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 — 42% entered in last year
■ 17% conviction (2yr+)
■ 42% medium
■ 42% new
Only 2 funds (17%) 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.
➡️
Steady discovery — ~3 new funds/quarter
4 → 9 → 1 → 10 → 3 new funds/Q
New funds entering each quarter: 9 → 1 → 10 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 63% of holders entered in last year
■ 0% veterans
■ 37% 1-2yr
■ 63% new
Of 19 current holders: 12 (63%) entered in the past year, only 0 (0%) 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.
🏆
Elite ownership — 86% AUM from top-100 funds
86% from top-100 AUM funds
4 of 11 holders are among the 100 largest funds by AUM, controlling 86% of total institutional value in AVL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.