Based on 23 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 ASCI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 88% of 2.5Y peak
88% of all-time peak
23 funds currently hold this stock — 88% of the 2.5-year high of 26 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +2200% more funds vs a year ago
fund count last 6Q
+22 new funds entered over the past year (+2200% 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.
🔴
Heavy selling pressure — only 32% buying
6 buying13 selling
Last quarter: 13 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-23 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 25 → 2. 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 — 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.
💎
Buying through price weakness — shares -32%, value -48%
Last quarter: funds added -32% more shares while total portfolio value only changed -48%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~2 new funds/quarter
0 → 0 → 0 → 25 → 2 new funds/Q
New funds entering each quarter: 0 → 0 → 25 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 96% of holders entered in last year
■ 4% veterans
■ 0% 1-2yr
■ 96% new
Of 23 current holders: 22 (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.
🏆
Elite ownership — 62% AUM from top-100 funds
62% from top-100 AUM funds
8 of 23 holders are among the 100 largest funds by AUM, controlling 62% 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 7.7/10 — multiple crowding signals converge. Institutional ownership is at 88% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 32% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.