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Aspen Aerogels
ASPN

183 hedge funds and large institutions have $199M invested in Aspen Aerogels in 2025 Q4 according to their latest regulatory filings, with 42 funds opening new positions, 46 increasing their positions, 64 reducing their positions, and 58 closing their positions.

New
Increased
Maintained
Reduced
Closed

445% more call options, than puts

Call options by funds: $6.04M | Put options by funds: $1.11M

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

1.83% less ownership

Funds ownership: 86.65% → 84.82% (-1.8%)

10% less funds holding

Funds holding: 204 → 183 (-21)

28% less first-time investments, than exits

New positions opened: 42 | Existing positions closed: 58

28% less repeat investments, than reductions

Existing positions increased: 46 | Existing positions reduced: 64

60% less capital invested

Capital invested by funds: $497M → $199M (-$298M)

Holders
183
Holders Change
-21
Holders Change %
-10.29%
% of All Funds
2.23%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
42
Increased
46
Reduced
64
Closed
58
Calls
$6.04M
Puts
$1.11M
Net Calls
+$4.93M
Net Calls Change
-$3.35M

Top Buyers

1
Invesco
Invesco
Georgia
+$15M
2
Ameriprise
Ameriprise
Minnesota
+$7.11M
3
NIM
Needham Investment Management
New York
+$4.7M
4
American Century Companies
American Century Companies
Missouri
+$3.54M
5
State Street
State Street
Massachusetts
+$2.87M

Top Sellers

1
AIC
AWM Investment Company
New York
-$7.81M
2
PCM
Penn Capital Management
Pennsylvania
-$7.23M
3
PIM
Peregrine Investment Management
Ontario, Canada
-$4.18M
4
TAM
Telemark Asset Management
Massachusetts
-$4.09M
5
GA
Gagnon Advisors
New York
-$3.94M
Name Holding Trade Value Shares
Change 		Change in
Stake
KL
1
KIM LLC
Kansas
$34.8M – – –
BlackRock
2
BlackRock
New York
$13.9M -$249K -48,319 -1%
Vanguard Group
3
Vanguard Group
Pennsylvania
$13.3M +$905K +175,580 +4%
OCMI
4
Oaktop Capital Management II
New Jersey
$12.4M – – –
NIM
5
Needham Investment Management
New York
$12.3M +$4.7M +912,000 +27%
Invesco
6
Invesco
Georgia
$11.7M +$15M +2,907,558 +238%
GKFF
7
George Kaiser Family Foundation
Oklahoma
$8.96M – – –
State Street
8
State Street
Massachusetts
$7.08M +$2.87M +556,833 +29%
Dimensional Fund Advisors
9
Dimensional Fund Advisors
Texas
$5.67M -$1.28M -248,050 -11%
Geode Capital Management
10
Geode Capital Management
Massachusetts
$4.53M +$88.6K +17,178 +1%
JP Morgan Chase
11
JP Morgan Chase
New York
$4.2M +$691K +133,996 +10%
RHJA
12
Rice Hall James & Associates
California
$4.02M +$71.6K +13,879 +1%
Ameriprise
13
Ameriprise
Minnesota
$3.9M +$7.11M +1,378,284 New
Goldman Sachs
14
Goldman Sachs
New York
$3.66M -$644K -124,876 -9%
American Century Companies
15
American Century Companies
Missouri
$3.28M +$3.54M +686,666 +146%
GS
16
Gagnon Securities
New York
$3.21M -$3.21M -621,585 -35%
TAM
17
Telemark Asset Management
Massachusetts
$2.83M -$4.09M -792,424 -44%
Millennium Management
18
Millennium Management
New York
$2.46M -$2.97M -576,566 -40%
Citadel Advisors
19
Citadel Advisors
Florida
$2.45M -$1.28M -248,372 -22%
SM
20
Samjo Management
New York
$2.26M +$2.36M +457,700 +134%
Two Sigma Investments
21
Two Sigma Investments
New York
$2.14M -$279K -54,109 -7%
Bank of America
22
Bank of America
North Carolina
$2.13M -$322K -62,419 -8%
BNP Paribas Financial Markets
23
BNP Paribas Financial Markets
France
$1.96M -$4.53K -878 -0.1%
First Eagle Investment Management
24
First Eagle Investment Management
New York
$1.76M +$542K +105,164 +20%
Federated Hermes
25
Federated Hermes
Pennsylvania
$1.6M +$1.42M +274,555 +95%
1
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ASPN Hedge Fund Activity: Q4 2025 in Review

183 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Aspen Aerogels (ASPN) for Q4 2025, worth a combined $199M — down 60% from $497M a quarter earlier.

Sellers outnumbered buyers: 58 funds closed out of ASPN and 42 opened new positions — a net loss of 16 holders — while 64 trimmed existing stakes and 46 added.

The largest buyer was Invesco, adding an estimated $15M. The largest seller was AWM Investment Company, cutting an estimated $7.81M.

  • 183 institutional investors held Aspen Aerogels (ASPN) as of Q4 2025, down from 204 in Q3 2025.
  • Funds reported $199M of Aspen Aerogels stock for Q4 2025, down 60% quarter-over-quarter.
  • 42 funds opened new Aspen Aerogels positions in Q4 2025 and 58 closed out, a net change of -16 holders.
  • The largest Aspen Aerogels buyer in Q4 2025 was Invesco, an estimated $15M added.
  • The largest Aspen Aerogels seller in Q4 2025 was AWM Investment Company, an estimated $7.81M sold.

Based on aggregated 13F filings for Q4 2025.