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Aehr Test Systems
AEHR

150 hedge funds and large institutions have $428M invested in Aehr Test Systems in 2025 Q4 according to their latest regulatory filings, with 29 funds opening new positions, 57 increasing their positions, 42 reducing their positions, and 27 closing their positions.

New
Increased
Maintained
Reduced
Closed

101% more call options, than puts

Call options by funds: $80.4M | Put options by funds: $40.1M

36% more repeat investments, than reductions

Existing positions increased: 57 | Existing positions reduced: 42

2.68% more ownership

Funds ownership: 67.93% → 70.62% (+2.7%)

7% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 27

1% more funds holding

Funds holding: 149 → 150 (+1)

30% less capital invested

Capital invested by funds: $613M → $428M (-$185M)

60% less funds holding in top 10

Funds holding in top 10: 5 → 2 (-3)

Holders
150
Holders Change
+1
Holders Change %
+0.67%
% of All Funds
1.82%
Holding in Top 10
2
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-60%
% of All Funds
0.02%
New
29
Increased
57
Reduced
42
Closed
27
Calls
$80.4M
Puts
$40.1M
Net Calls
+$40.4M
Net Calls Change
+$57K

Top Buyers

Rank Fund Capital Flow
1
Wellington Management Group
Wellington Management Group
Massachusetts
+$11.4M
2
NCGI
Next Century Growth Investors
Minnesota
+$6.68M
3
Two Sigma Investments
Two Sigma Investments
New York
+$6.05M
4
Jane Street
Jane Street
New York
+$5.82M
5
HFF
Halter Ferguson Financial
Indiana
+$4.57M

Top Sellers

Rank Fund Capital Flow
1
William Blair Investment Management
William Blair Investment Management
Illinois
-$9.64M
2
Invesco
Invesco
Georgia
-$8.18M
3
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$5.8M
4
ECM
ExodusPoint Capital Management
New York
-$5.38M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$4.68M
Name Holding Trade Value Shares
Change 		Change in
Stake
CW
126
Curio Wealth
Maryland
$11K – – –
CIBC Private Wealth Group
127
CIBC Private Wealth Group
Georgia
$11K +$13.1K +540 +13,500%
ME
128
McIlrath & Eck
Washington
$10.7K – – –
SCM
129
Sterling Capital Management
North Carolina
$9.69K +$895 +37 +8%
BNP Paribas Asset Management
130
BNP Paribas Asset Management
France
$7K +$8.85K +366 New
EWA
131
EverSource Wealth Advisors
Alabama
$6.26K +$6.31K +261 +533%
SSG
132
Summit Securities Group
New York
$4.3K +$5.15K +213 New
GRP
133
Global Retirement Partners
California
$3.49K +$4.14K +171 +8,550%
Los Angeles Capital Management
134
Los Angeles Capital Management
California
$3.31K +$3.19K +132 New
AAG
135
Armstrong Advisory Group
Massachusetts
$2.71K – – –
RIL
136
Rothschild Investment LLC
Illinois
$2.02K – – –
TFGT
137
TS Financial Group (TSFG)
Illinois
$2K – – –
FFO
138
Fortitude Family Office
Arizona
$1.21K – – –
SAM
139
Smartleaf Asset Management
Massachusetts
$1.18K +$1.4K +58 New
DWM
140
Darwin Wealth Management
Florida
$1.15K – – –
CAM
141
Costello Asset Management
Pennsylvania
$1.01K +$1.21K +50 New
KFG
142
Kingdom Financial Group
Arizona
$1.01K +$1.21K +50 New
S
143
SignatureFD
Georgia
$727 +$871 +36 New
OP
144
ORG Partners
Indiana
$605 – – –
AF
145
Allworth Financial
California
$546 +$629 +26 +2,600%
RIAS
146
Rachor Investment Advisory Services
Michigan
$364 +$435 +18 New
CIAM
147
Caitong International Asset Management
Hong Kong
$323 +$387 +16 New
KG
148
Kilter Group
New York
$263 +$314 +13 New
US Bancorp
149
US Bancorp
Minnesota
$202 +$242 +10 New
ECM
150
ExodusPoint Capital Management
New York
– -$5.38M -178,658 Closed
4 5
6
7 8

AEHR Hedge Fund Activity: Q4 2025 in Review

150 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Aehr Test Systems (AEHR) for Q4 2025, worth a combined $428M — down 30% from $613M a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new AEHR positions and 27 closed out — a net gain of 2 holders — while 57 added to existing stakes and 42 trimmed.

The largest buyer was Wellington Management Group, adding an estimated $11.4M. The largest seller was William Blair Investment Management, cutting an estimated $9.64M.

  • 150 institutional investors held Aehr Test Systems (AEHR) as of Q4 2025, up from 149 in Q3 2025.
  • Funds reported $428M of Aehr Test Systems stock for Q4 2025, down 30% quarter-over-quarter.
  • 29 funds opened new Aehr Test Systems positions in Q4 2025 and 27 closed out, a net change of +2 holders.
  • The largest Aehr Test Systems buyer in Q4 2025 was Wellington Management Group, an estimated $11.4M added.
  • The largest Aehr Test Systems seller in Q4 2025 was William Blair Investment Management, an estimated $9.64M sold.

Based on aggregated 13F filings for Q4 2025.