Who owns ALEC (ALEC)
Which tracked institutional funds hold ALEC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ALEC company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on ALEC is one-sided between 2025-Q4 and 2026-Q1: 42 added or opened and 7 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ALEC’s largest tracked holder by dollar value, TCG Crossover Management, LLC, sizes it at 0.6% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.6pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in ALEC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 137 tracked filers holding ALEC, 73 increased or opened the position and 58 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ALEC between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 5
- VANGUARD CAPITAL MANAGEMENT LLC$8M
- Nantahala Capital Management, LLC$6M
- VANGUARD PORTFOLIO MANAGEMENT LLC$6M
- VANGUARD FIDUCIARY TRUST CO$1M
- Affinity Asset Advisors, LLC$1M
Full exits 4
- VANGUARD GROUP INC$11M
- Vestal Point Capital, LP$1M
- TWO SIGMA ADVISERS, LP$1M
- DekaBank Deutsche Girozentrale$661K
Largest adds
- TCG Crossover Management, LLC$6M
- BlackRock, Inc.$5M
- D. E. Shaw & Co., Inc.$3M
- ACADIAN ASSET MANAGEMENT LLC$3M
- Spruce Street Capital LP$3M
- Foresite Capital Management IV, LLC$2M
Largest trims
- JANE STREET GROUP, LLC$692K
- BARCLAYS PLC$530K
- MARSHALL WACE, LLP$498K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| TCG Crossover Management, LLC | 10,000,000 | $22M | 8.7% | 2026-Q1 |
| BlackRock, Inc. added | 7,741,245 | $17M | 6.8% | 2026-Q1 |
| ACADIAN ASSET MANAGEMENT LLC added | 4,038,785 | $9M | 3.5% | 2026-Q1 |
| Foresite Capital Management IV, LLC | 3,887,200 | $8M | 3.4% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 3,678,722 | $8M | 3.2% | 2026-Q1 |
| Merck & Co., Inc. | 3,545,719 | $8M | 3.1% | 2026-Q1 |
| D. E. Shaw & Co., Inc. added | 3,332,835 | $7M | 2.9% | 2026-Q1 |
| 683 Capital Management, LLC trimmed | 3,200,000 | $7M | 2.8% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 2,935,253 | $6M | 2.6% | 2026-Q1 |
| Nantahala Capital Management, LLC added | 2,815,983 | $6M | 2.5% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 2,583,542 | $6M | 2.3% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 2,286,218 | $5M | 2.0% | 2026-Q1 |
| JACOBS LEVY EQUITY MANAGEMENT, INC trimmed | 2,154,361 | $5M | 1.9% | 2026-Q1 |
| Spruce Street Capital LP added | 2,101,068 | $5M | 1.8% | 2026-Q1 |
| Ikarian Capital, LLC | 2,082,606 | $4M | 1.8% | 2026-Q1 |
| Kynam Capital Management, LP | 2,000,000 | $4M | 1.7% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 1,979,226 | $4M | 1.7% | 2026-Q1 |
| STATE STREET CORP added | 1,865,526 | $4M | 1.6% | 2026-Q1 |
| FMR LLC trimmed | 1,796,104 | $4M | 1.6% | 2026-Q1 |
| MEDICI CAPITAL LLC added | 1,652,520 | $4M | 1.4% | 2026-Q1 |
| Eversept Partners, LP added | 1,351,106 | $3M | 1.2% | 2026-Q1 |
| Euclidean Capital LLC | 1,307,858 | $3M | 1.1% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 1,287,691 | $3M | 1.1% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 1,279,306 | $3M | 1.1% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 1,092,903 | $2M | 1.0% | 2026-Q1 |
| DEERFIELD MANAGEMENT COMPANY, L.P. | 1,055,192 | $2M | 0.9% | 2026-Q1 |
| ADAR1 Capital Management, LLC trimmed | 1,050,000 | $2M | 0.9% | 2026-Q1 |
| DAFNA Capital Management LLC | 908,351 | $2M | 0.8% | 2026-Q1 |
| Elmind Capital, LP | 900,000 | $2M | 0.8% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP added | 857,354 | $2M | 0.7% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 787,408 | $2M | 0.7% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 695,772 | $1M | 0.6% | 2026-Q1 |
| NORTHERN TRUST CORP added | 692,256 | $1M | 0.6% | 2026-Q1 |
| MARSHALL WACE, LLP trimmed | 614,804 | $1M | 0.5% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 604,562 | $1M | 0.5% | 2026-Q1 |
| PANAGORA ASSET MANAGEMENT INC trimmed | 590,388 | $1M | 0.5% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 577,939 | $1M | 0.5% | 2026-Q1 |
| XTX Topco Ltd trimmed | 559,896 | $1M | 0.5% | 2026-Q1 |
| BOOTHBAY FUND MANAGEMENT, LLC | 559,726 | $1M | 0.5% | 2026-Q1 |
| Affinity Asset Advisors, LLC new | 500,000 | $1M | 0.4% | 2026-Q1 |
| EverSource Wealth Advisors, LLC added | 39,940 | $977K | 0.4% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 399,464 | $859K | 0.3% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 380,908 | $819K | 0.3% | 2026-Q1 |
| MORGAN STANLEY added | 364,567 | $784K | 0.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 283,817 | $610K | 0.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 271,272 | $583K | 0.2% | 2026-Q1 |
| Invesco Ltd. trimmed | 265,067 | $570K | 0.2% | 2026-Q1 |
| Bank of New York Mellon Corp added | 252,297 | $542K | 0.2% | 2026-Q1 |
| NANO CAP NEW MILLENNIUM GROWTH FUND L P | 200,000 | $430K | 0.2% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 183,200 | $394K | 0.2% | 2026-Q1 |
| Nuveen, LLC added | 154,930 | $333K | 0.1% | 2026-Q1 |
| Utah Retirement Systems added | 154,290 | $332K | 0.1% | 2026-Q1 |
| UBS Group AG added | 145,344 | $312K | 0.1% | 2026-Q1 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC added | 142,500 | $306K | 0.1% | 2026-Q1 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | 136,000 | $292K | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 107,597 | $231K | 0.1% | 2026-Q1 |
| RHUMBLINE ADVISERS trimmed | 101,327 | $218K | 0.1% | 2026-Q1 |
| Odyssean, LLC new | 89,783 | $193K | 0.1% | 2026-Q1 |
| STRS OHIO trimmed | 86,500 | $186K | 0.1% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 80,091 | $172K | 0.1% | 2026-Q1 |
| GSA CAPITAL PARTNERS LLP trimmed | 78,207 | $168K | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 77,545 | $167K | 0.1% | 2026-Q1 |
| Blackstone Inc. added | 77,145 | $166K | 0.1% | 2026-Q1 |
| Jasper Ridge Partners, L.P. trimmed | 73,531 | $158K | 0.1% | 2026-Q1 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main new | 69,666 | $150K | 0.1% | 2026-Q1 |
| SIMPLEX TRADING, LLC trimmed | 68,477 | $147K | 0.1% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. | 92,940 | $145K | 0.1% | 2026-Q1 |
| Russell Investments Group, Ltd. trimmed | 66,131 | $142K | 0.1% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 56,100 | $121K | 0.0% | 2026-Q1 |
| Cannell & Spears LLC | 54,642 | $117K | 0.0% | 2026-Q1 |
| SEI INVESTMENTS CO added | 53,846 | $116K | 0.0% | 2026-Q1 |
| Vanguard Personalized Indexing Management, LLC trimmed | 50,629 | $109K | 0.0% | 2026-Q1 |
| HSBC HOLDINGS PLC added | 48,523 | $105K | 0.0% | 2026-Q1 |
| IEQ CAPITAL, LLC trimmed | 47,080 | $101K | 0.0% | 2026-Q1 |
| RTW INVESTMENTS, LP new | 6,990,806 | $21M | 8.4% | 2025-Q3 stale |
| RA CAPITAL MANAGEMENT, L.P. | 9,695,228 | $12M | 4.8% | 2025-Q1 stale |
| VANGUARD GROUP INC added | 6,908,054 | $11M | 4.4% | 2025-Q4 stale |
| 5AM Venture Management, LLC | 995,841 | $3M | 1.2% | 2025-Q3 stale |
| Sio Capital Management, LLC added | 845,531 | $1M | 0.5% | 2025-Q2 stale |
| Vestal Point Capital, LP trimmed | 755,000 | $1M | 0.5% | 2025-Q4 stale |
| FRANKLIN RESOURCES INC trimmed | 834,270 | $1M | 0.4% | 2025-Q1 stale |
| TWO SIGMA ADVISERS, LP added | 651,800 | $1M | 0.4% | 2025-Q4 stale |
| New Leaf Venture Partners, L.L.C. | 339,569 | $1M | 0.4% | 2025-Q3 stale |
| TD Asset Management Inc trimmed | 273,738 | $810K | 0.3% | 2025-Q3 stale |
| DekaBank Deutsche Girozentrale | 100,000 | $661K | 0.3% | 2025-Q4 stale |
| Alphabet Inc. | 175,866 | $521K | 0.2% | 2025-Q3 stale |
| DIADEMA PARTNERS LP trimmed | 136,023 | $403K | 0.2% | 2025-Q3 stale |
| Almitas Capital LLC added | 321,568 | $396K | 0.2% | 2025-Q1 stale |
| Walleye Capital LLC trimmed | 266,204 | $373K | 0.2% | 2025-Q2 stale |
| Cubist Systematic Strategies, LLC added | 100,067 | $296K | 0.1% | 2025-Q3 stale |
| Artia Global Partners LP trimmed | 71,029 | $210K | 0.1% | 2025-Q3 stale |
| Graham Capital Management, L.P. added | 104,851 | $164K | 0.1% | 2025-Q4 stale |
| Velan Capital Investment Management LP | 55,000 | $163K | 0.1% | 2025-Q3 stale |
| BANK OF MONTREAL /CAN/ | 52,380 | $155K | 0.1% | 2025-Q3 stale |
| LOS ANGELES CAPITAL MANAGEMENT LLC added | 93,052 | $141K | 0.1% | 2025-Q4 stale |
| Man Group plc added | 86,162 | $134K | 0.1% | 2025-Q4 stale |
| SPHERA FUNDS MANAGEMENT LTD. trimmed | 109,208 | $134K | 0.1% | 2025-Q1 stale |
| Squarepoint Ops LLC added | 77,618 | $121K | 0.0% | 2025-Q4 stale |
| Cercano Management LLC | 93,633 | $115K | 0.0% | 2025-Q1 stale |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC trimmed | 70,778 | $99K | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.