Based on 23 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their AISPW 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 64% of 3.0Y high
64% of all-time peak
Only 23 funds hold AISPW today versus a peak of 36 funds at 2024 Q1 — just 64% 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.
📉
Outflows — 12% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold AISPW compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 40% buying
6 buying9 selling
Last quarter: 9 funds reduced or exited vs 6 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 3 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 35% long-term, 13% new
■ 35% conviction (2yr+)
■ 52% medium
■ 13% new
Of the 23 current holders: 8 (35%) held >2 years, 12 held 1–2 years, and 3 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares +7%, value -100%
Last quarter: funds added +7% more shares while total portfolio value only changed -100%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
3 → 4 → 1 → 3 → 1 new funds/Q
New funds entering each quarter: 4 → 1 → 3 → 1. AISPW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 4% veterans, 26% new entrants
■ 4% veterans
■ 70% 1-2yr
■ 26% new
Of 23 current holders: 1 (4%) held 2+ years, 16 held 1–2 years, 6 (26%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 21% AUM from major funds
21% from top-100 AUM funds
4 of 23 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.