Based on 86 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their AISP positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (99% of max)
99% of all-time peak
86 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.
🚀
Fast accumulation — +46% more funds vs a year ago
fund count last 6Q
+27 new funds entered over the past year (+46% 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 — 56% buying
54 buying43 selling
Last quarter: 54 funds bought or added vs 43 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 23 → 21 → 25 → 18. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 43% entered in last year
■ 19% conviction (2yr+)
■ 38% medium
■ 43% new
Only 16 funds (19%) 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.
💎
Buying through price weakness — shares +5%, value -17%
Last quarter: funds added +5% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~18 new funds/quarter
13 → 23 → 21 → 25 → 18 new funds/Q
New funds entering each quarter: 23 → 21 → 25 → 18. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 6% veterans, 52% new entrants
■ 6% veterans
■ 43% 1-2yr
■ 52% new
Of 89 current holders: 5 (6%) held 2+ years, 38 held 1–2 years, 46 (52%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
27 of 83 holders are among the 100 largest funds by AUM, controlling 45% 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.
4.4
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.