Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Aspen Aerogels Inc (ASPN)

175 + Investors. Track Smart Money conviction in ASPN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +9
Streak
1Q ▲
Buyers last Q
57%

Smart Money Signals — ASPN

Based on 178 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added ASPN 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.
📊

High ownership — 75% of 3.0Y peak

75% of all-time peak
178 funds currently hold this stock — 75% of the 3.0-year high of 238 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 4% fewer funds vs a year ago

fund count last 6Q
8 fewer hedge funds hold ASPN compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 57% buying

101 buying75 selling
Last quarter: 101 funds bought or added vs 75 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 — ~37 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 48 → 44 → 37 → 37. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

53% of holders stayed for 2+ years

■ 53% conviction (2yr+) ■ 25% medium ■ 21% new
95 out of 178 hedge funds have held ASPN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +95% but shares only +7% — price-driven

Value
+95%
Shares
+6%
Last quarter: the total dollar value of institutional holdings rose +95%, but actual share count only changed +7%. 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

26 → 48 → 44 → 37 → 37 new funds/Q
New funds entering each quarter: 48 → 44 → 37 → 37. ASPN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 64% veterans vs 21% newcomers

■ 64% veterans ■ 15% 1-2yr ■ 21% new
Entry-cohort mix of 184 holders: 118 (64%) are 2+ year veterans, 27 entered 1–2 years ago, and 39 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds
43 of 176 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.3
out of 10
Low Exit Risk
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — ASPN

In 2026 Q2, 101 hedge funds were net buyers of ASPN (37 opened a new position, 64 added to an existing one), while 75 reduced or exited (47 trimmed, 28 sold completely) — a 57% buyer ratio, indicating a slight buying edge. 39% of total institutional value in ASPN is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +9 funds (more new holders than closures). Total institutional holders: 178.

Hedge Fund Ownership: ASPN

How many hedge funds hold ASPN — quarterly history vs. share price
Quarterly hedge fund ownership of ASPN vs. share price

Market Analysis: ASPN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: ASPN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Aspen Aerogels Inc (ASPN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much ASPN has moved relative to its sector benchmark (XLI) since the 2026 Q3 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End September 30, 2026 · 45d ago
ASPN
+9.3%
XLI
+0.8%

ASPN outperformed XLI by +8.5% since September 30, 2026.

Since 13F Filing Date November 14, 2026 · 0d ago
ASPN
+0.0%
XLI
+0.0%

Since the filing became public, ASPN outperformed XLI by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

9 top-rated funds 1 high-conviction
Consensus
4.3
/ 10
breadth
×
Elite
1.1
/ 10
conviction
Hedge Fund Positioning: ASPN
2026 Q3 Stats Unlock in 5 days 175 + Investors

Track Smart Money conviction in ASPN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 175 169 3.55%
13F Shares 74M 69M 6.61%
Total Value $462M $237M 94.61%
New Positions 37 37 -
Increased Positions 59 42 +17
Closed Positions 29 50 -21
Reduced Positions 47 58 -11
Total Calls 5 5 -
Total Puts 3 4 -25.0%
PUT/CALL Ratio 0.6 0.8 Bullish

Statistics: ASPN

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q3)

175 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in ASPN. Verified SEC 13F-HR filings.

QUARTER:
2026 Q3 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 ASPN holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 AIGH Capital Management LLC 3.95% 7,150,126 $39.2M
2 Oaktop Capital Management II, L.P. 1.54% 5,168,674 $28.3M
3 Gagnon Securities LLC 1.48% 1,557,874 $8.5M
4 Telemark Asset Management, LLC 0.39% 1,000,000 $5.5M
5 Ironwood Investment Management LLC 0.36% 179,710 $985K
6 Royce & Associates LP 0.07% 1,399,765 $7.7M
7 Sargent Investment Group, LLC 0.07% 106,282 $582K
8 Dynamic Technology Lab Private Ltd 0.04% 29,444 $161K
9 R Squared Ltd 0.04% 13,544 $74K
10 Y-Intercept (Hong Kong) Ltd 0.03% 275,553 $1.5M
11 RBF Capital, LLC 0.02% 100,000 $548K
12 Federated Hermes, INC. 0.01% 1,891,469 $10.4M
13 Fox Run Management, L.L.C. 0.01% 19,850 $109K
14 State of Wyoming 0.01% 29,721 $163K
15 Panagora Asset Management Inc 0.01% 584,353 $3.2M
16 Legato Capital Management LLC 0.01% 15,562 $85K
17 Axq Capital, LP 0.01% 10,622 $58K
18 Strategic Investment Solutions, Inc. /IL 0.01% 6,010 $33K
19 American Century Companies Inc 0.01% 2,495,611 $13.7M
20 ARS Investment Partners, LLC 0.00% 16,955 $93K
21 Diversified Trust Co 0.00% 33,047 $181K
22 Quantbot Technologies LP 0.00% 19,360 $106K
23 PlanVest Financial, Inc 0.00% 886 $5K
24 Baird Financial Group, Inc. 0.00% 397,270 $2.2M
25 Essential Partners LLC 0.00% 1,177 $6K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Aspen Aerogels Inc (ASPN)

What does the Smart Money Trend signal show for ASPN?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added ASPN 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.

What is the institutional breadth score for ASPN?

Slight buying edge — 57% buying: Last quarter: 101 funds bought or added vs 75 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.

What is the fund quality score for ASPN holders?

Strong quality — 39% AUM from major funds: 43 of 176 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held ASPN?

53% of holders stayed for 2+ years: 95 out of 178 hedge funds have held ASPN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Aspen Aerogels Inc (ASPN) following the 2026 Q3 hedge fund 13F filings?

As of today, ASPN has moved +0.0% since the 2026 Q3 13F filing date (November 14, 2026), compared to +0.0% for the XLI sector ETF — an outperformance of +0.0%. Since the quarter end (September 30, 2026), ASPN has gained +9.3% vs +0.8% for XLI. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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