The cluster shows active/quant funds accumulating while passive funds reduce, creating a mixed signal. Monitor for upcoming earnings or defense contract announcements that could catalyze the thesis. The lack of insider buying and historical poor T+20 performance on AVAV suggest caution; consider waiting for a clearer catalyst before taking a directional position.
Executive Summary
A mixed institutional cluster for AeroVironment (AVAV) in Q2 2026 shows 46 buyers accumulating $188.5M in new positions, led by Norges Bank ($78.1M new), BofA (doubled to $67.5M), and Millennium ($57.0M), while 35 sellers reduced holdings by $212.8M, dominated by passive funds like Geode (-$56.4M), UBS (-$55.9M), and Northern Trust (-$30.8M). The net selling of ~$24.3M and divergence between active buying and passive selling suggest uncertainty around near-term catalysts, with no insider buying corroboration.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$24.3M
▲ Buyers (46)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Norges Bank | NEW | +100% | $78.1M | $78.1M |
| Bank of Montreal /Can | DOUBLED | +387.1% | $3.7M | $2.9M |
| BofA | DOUBLED | +101.4% | $67.5M | $30.4M |
| Millennium | ADD | +67% | $57.0M | $19.1M |
| Susquehanna International Group | ADD | +78.3% | $44.7M | $16.9M |
| Jane Street Group | DOUBLED | +2147.4% | $16.2M | $15.4M |
| Congress Asset Management | ADD | +26.3% | $81.8M | $10.0M |
| Swedbank Ab | ADD | +37.8% | $62.2M | $12.1M |
▼ Sellers (35)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Geode | TRIM | -26.5% | $167.3M | -$56.4M |
| UBS | TRIM | -45.6% | $109.7M | -$55.9M |
| Northern Trust | TRIM | -35.7% | $73.2M | -$30.8M |
| JPMorgan | TRIM | -64.8% | $33.0M | -$23.6M |
| Fidelity | NEAR_EXIT | -96.3% | $22.5M | -$21.8M |
| Citadel | NEAR_EXIT | -97.2% | $18.4M | -$18.0M |
Key Facts
- 46 institutional buyers added $188.5M in AVAV positions; 35 sellers reduced by $212.8M, net selling ~$24.3M.
- Norges Bank initiated a new $78.1M position, the largest single buy.
- BofA doubled its stake to $67.5M; Millennium, Susquehanna, and Jane Street added $19.1M, $16.9M, and $15.4M respectively.
- Selling concentrated in mega-passive funds: Geode (-$56.4M), UBS (-$55.9M), Northern Trust (-$30.8M), JPMorgan (-$23.6M), and Fidelity (-$21.8M).
- Citadel and Fidelity nearly exited their positions, reducing by 97% and 96% respectively.
- No insider open-market buying was detected; the 13F × Form 4 confluence score is low (23/100, divergent).
Financial Impact
Net institutional selling of approximately $24.3M, with $188.5M in new buying and $212.8M in selling. The largest single move was Norges Bank's $78.1M new position.
Risk Factors
- 13F data is 45 days lagged; positions may have already been unwound.
- Passive selling may reflect index rebalancing rather than fundamental concerns.
- Historical AVAV reports have shown negative average T+20 returns (-4.72%) with a 38% win rate, indicating poor predictive power for this ticker.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-AVAV-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 22, 2026 5w ago | Institutional Cluster | $148.20 $159.95 | ▲ +7.93% | ▲ +7.91% | — |
Aug 7, 2026 8w ago | 8-K | $186.73 $144.65 | ▼ −22.54% | ▼ −22.14% | — |
Jul 29, 2026 9w ago | 8-K | $142.12 $146.88 | ▲ +3.35% | ▼ −1.67% | — |
Jun 29, 2026 13w ago | 8-K | $165.07 $154.24 | ▼ −6.56% | ▼ −5.53% | — |
Jun 22, 2026 14w ago | 10-Q/A | $151.33 $142.20 | ▲ +6.03% | ▲ +5.89% | — |
Jun 22, 2026 14w ago | 8-K | $151.33 $142.20 | ▲ +6.03% | ▲ +5.89% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $183.69 $148.40 | ▼ −19.21% | ▼ −21.10% | — |
Apr 15, 2026 24w ago | 144 | $201.99 $160.99 | ▼ −20.30% | ▼ −26.11% | — |
Apr 13, 2026 24w ago | 8-K | $194.39 $166.45 | ▼ −14.37% | ▼ −22.10% | — |
Apr 9, 2026 25w ago | 8-K | $177.70 $174.37 | ▼ −1.87% | ▼ −9.44% | — |
US Market Status
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