Based on 85 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 9 quarters in a row
For 9 consecutive quarters, more hedge funds added AISP 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
85 hedge funds hold AISP 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.
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Fast accumulation — +57% more funds vs a year ago
fund count last 6Q
+31 new funds entered over the past year (+57% 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.
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More buyers than sellers — 64% buying
63 buying36 selling
Last quarter: 63 funds were net buyers (25 opened a brand new position + 38 added to an existing one). Only 36 were sellers (15 trimmed + 21 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~25 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 23 → 21 → 25. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 45% entered in last year
■ 8% conviction (2yr+)
■ 47% medium
■ 45% new
Only 7 funds (8%) 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.
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Buying through price weakness — shares -3%, value -46%
Last quarter: funds added -3% more shares while total portfolio value only changed -46%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
16 → 12 → 23 → 21 → 25 new funds/Q
New funds entering each quarter: 12 → 23 → 21 → 25. A growing number of institutions are discovering AISP each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 3% veterans, 54% new entrants
■ 3% veterans
■ 43% 1-2yr
■ 54% new
Of 89 current holders: 3 (3%) held 2+ years, 38 held 1–2 years, 48 (54%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 50% AUM from top-100 funds
50% from top-100 AUM funds
24 of 85 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in AISP. 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.