61% buyers of institutions opening or closing positions this quarter
11 more new buyers than exits, ownership fell 104.37 percentage points vs the prior quarter, and 3 well-known fund managers in the top 25.
61% buyers of institutions opening or closing positions this quarter
48.5% institutional ownership
Decheng Capital LLC portfolio allocation
Institutional ownership vs Biotechnology peers
No Form 4 insider transactions on file
Latest positioning in AARD across 13F flow, ownership shift, marquee holders, and holder-count growth.
Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in AARD held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Decheng Capital LLC | 3.9M | $14.8M | 0.0% | 17.956% | 2.23% |
| 2 | CITADEL ADVISORS LLC | 1.3M | $4.9M | +0.5% | 5.939% | 0.00% |
| 3 | Laurion Capital Management LP | 1.0M | $3.9M | +1.9% | 4.742% | 0.17% |
| 4 | BlackRock, Inc. | 793K | $3.0M | +1.0% | 3.633% | 0.00% |
| 5 | VANGUARD CAPITAL MANAGEMENT LLC | 554K | $2.1M | β | 2.540% | 0.00% |
| 6 | Polygon Management Ltd. | 317K | $1.2M | β | 1.451% | 0.23% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 309K | $1.2M | +3.9% | 1.418% | 0.00% |
| 8 | ADAGE CAPITAL PARTNERS GP, L.L.C. | 300K | $1.1M | β | 1.375% | 0.00% |
| 9 | STATE STREET CORP | 199K | $751K | +26.0% | 0.914% | 0.00% |
| 10 | TWO SIGMA INVESTMENTS, LP | 163K | $616K | +26.8% | 0.749% | 0.00% |
| 11 | UBS Group AG | 158K | $595K | +488.3% | 0.724% | 0.00% |
| 12 | AQR CAPITAL MANAGEMENT LLC | 134K | $507K | β | 0.617% | 0.00% |
| 13 | MILLENNIUM MANAGEMENT LLC | 98K | $371K | -79.7% | 0.451% | 0.00% |
| 14 | NORTHERN TRUST CORP | 89K | $334K | -0.8% | 0.406% | 0.00% |
| 15 | VANGUARD FIDUCIARY TRUST CO | 83K | $314K | β | 0.381% | 0.00% |
| 16 | VANGUARD PORTFOLIO MANAGEMENT LLC | 75K | $283K | β | 0.345% | 0.00% |
| 17 | Woodline Partners LP | 72K | $273K | β | 0.332% | 0.00% |
| 18 | RENAISSANCE TECHNOLOGIES LLC | 71K | $267K | β | 0.325% | 0.00% |
| 19 | CANTOR FITZGERALD, L. P. | 67K | $251K | -27.3% | 0.306% | 0.00% |
| 20 | CITIGROUP INC | 46K | $174K | +5063.5% | 0.212% | 0.00% |
| 21 | Cresset Asset Management, LLC | 43K | $163K | β | 0.198% | 0.00% |
| 22 | SILVERARC CAPITAL MANAGEMENT, LLC | 34K | $127K | -88.9% | 0.154% | 0.01% |
| 23 | PRELUDE CAPITAL MANAGEMENT, LLC | 31K | $116K | β | 0.140% | 0.01% |
| 24 | Bank of New York Mellon Corp | 29K | $111K | +30.8% | 0.134% | 0.00% |
| 25 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 28K | $106K | -11.2% | 0.128% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in AARD β a direct measure of their conviction.
Filings activity in AARD during Q1 2026, grouped by how each filer changed its position.
5 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 77 | +17% | 48.55% | 104.37 pp | $39M | 72% |
| Q4 2025 | 66 | +35% | 152.92% | +15.63 pp | $140M | +11% |
| Q3 2025 | 49 | +36% | 137.29% | +6.59 pp | $126M | +5.0% |
| Q2 2025 | 36 | +29% | 130.70% | +48.71 pp | $120M | +84% |
| Q1 2025 | 28 | β | 81.99% | β | $65M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
No recent Form 4 insider transactions on file for AARD.
Quick answers to the most common questions about buying AARD stock.
Based on Q1 2026 13F filings, institutional ownership of Aardvark Therapeutics, Inc. Common Stock stands at 48.5%, held across 77 reporting institutions.
Decheng Capital LLC is the largest reported institutional holder of AARD, with approximately 3,917,299 shares worth $0.01B as of Q1 2026.
Yes β 3 widely-followed marquee investors appear among the top 25 institutional holders of AARD, including CITADEL ADVISORS LLC, TWO SIGMA INVESTMENTS, LP, RENAISSANCE TECHNOLOGIES LLC.
Our composite Smart Money Score for AARD is 54 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
31 institutions opened new positions in AARD during Q1 2026, while 20 fully exited. 5 added to existing positions and 40 trimmed.
AARD institutional ownership fell by 104.37 percentage points quarter-over-quarter, with a net change of +11 holders.
The top 10 institutions account for 86.9% of all reported 13F value in AARD, and the top 25 account for 97.2%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.