Based on 26 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ASCI 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.
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At the ownership peak (100% of max)
100% of all-time peak
26 hedge funds hold ASCI right now — the highest count in 2.8 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 — +2500% more funds vs a year ago
fund count last 6Q
+25 new funds entered over the past year (+2500% 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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Heavy selling pressure — only 38% buying
8 buying13 selling
Last quarter: 13 funds sold vs only 8 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 25 → 2 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 96% entered in last year
■ 4% conviction (2yr+)
■ 0% medium
■ 96% new
Only 1 funds (4%) 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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Price up while funds trimmed (+28% value, -8% shares)
Last quarter: total value of institutional ASCI holdings rose +28% even though funds reduced share count by 8%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Saturation — most institutions already know this story
0 → 0 → 25 → 2 → 6 new funds/Q
New funds entering each quarter: 0 → 25 → 2 → 6. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Early stage — 96% of holders entered in last year
■ 4% veterans
■ 0% 1-2yr
■ 96% new
Of 26 current holders: 25 (96%) entered in the past year, only 1 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
8 of 26 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in ASCI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 8.0/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 38% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.