Based on 19 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 ASPSZ 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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High ownership — 90% of 3.0Y peak
90% of all-time peak
19 funds currently hold this stock — 90% of the 3.0-year high of 21 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold ASPSZ compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 44% buying
4 buying5 selling
Last quarter: 5 funds reduced or exited vs 4 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 26% entered in last year
■ 5% conviction (2yr+)
■ 68% medium
■ 26% new
Only 1 funds (5%) 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 (+37% value, -0% shares)
Last quarter: total value of institutional ASPSZ holdings rose +37% even though funds reduced share count by 0%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Steady discovery — ~3 new funds/quarter
19 → 4 → 1 → 4 → 3 new funds/Q
New funds entering each quarter: 4 → 1 → 4 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 89% of holders entered in last year
■ 11% veterans
■ 0% 1-2yr
■ 89% new
Of 19 current holders: 17 (89%) entered in the past year, only 2 (11%) 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 — 43% AUM from top-100 funds
43% from top-100 AUM funds
8 of 19 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in ASPSZ. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.