Based on 186 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ASPI 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
186 hedge funds hold ASPI 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.
🚀
Fast accumulation — +45% more funds vs a year ago
fund count last 6Q
+58 new funds entered over the past year (+45% 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.
🟡
Slight buying edge — 58% buying
122 buying87 selling
Last quarter: 122 funds bought or added vs 87 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~43 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 48 → 51 → 41 → 43. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 41% entered in last year
■ 17% conviction (2yr+)
■ 42% medium
■ 41% new
Only 32 funds (17%) 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.
💰
Value +43% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +43%, but actual share count only changed +3%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📊
Peak discovery — momentum slowing
44 → 48 → 51 → 41 → 43 new funds/Q
New funds entering each quarter: 48 → 51 → 41 → 43. ASPI 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 — 17% veterans, 54% new entrants
■ 17% veterans
■ 28% 1-2yr
■ 54% new
Of 197 current holders: 34 (17%) held 2+ years, 56 held 1–2 years, 107 (54%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
40 of 182 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in ASPI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.