APPLIED OPTOELECTRONICS INC AAOI
COM · Common Stock · CUSIP 03823U102 · ISIN US03823U1025
Company in Sugar Land, United States
- SectorTechnology
- IndustrySemiconductors & Related Devices
- HeadquartersSugar Land, TX
- Founded1997
- Websiteao-inc.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($32.1m this quarter). Holder counts are more reliable. Shares outstanding: 84.6m as of 2026-08-03, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $148.16. Options: 35 managers hold calls ($1.4bn notional), 30 hold puts ($1.7bn).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 62 |
| Q4 2022 | 63 |
| Q1 2023 | 53 |
| Q2 2023 | 56 |
| Q3 2023 | 78 |
| Q4 2023 | 104 |
| Q1 2024 | 120 |
| Q2 2024 | 135 |
| Q3 2024 | 141 |
| Q4 2024 | 158 |
| Q1 2025 | 147 |
| Q2 2025 | 147 |
| Q3 2025 | 179 |
| Q4 2025 | 219 |
| Q1 2026 | 377 |
| Q2 2026 | 482 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 83 | 70 |
| Q4 2024 | 100 | 69 |
| Q1 2025 | 90 | 78 |
| Q2 2025 | 103 | 66 |
| Q3 2025 | 113 | 67 |
| Q4 2025 | 152 | 72 |
| Q1 2026 | 279 | 109 |
| Q2 2026 | 301 | 207 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $101.6m | $164.4m | 1.62 |
| Q4 2025 | $142.6m | $223.6m | 1.57 |
| Q1 2026 | $682.3m | $473.9m | 0.69 |
| Q2 2026 | $1.4bn | $1.7bn | 1.20 |
Biggest buyers
| Marex Group Ltd | Added | +2.5m |
| Invesco Ltd. | Added | +1.4m |
| Clear Street Group Inc. | New | +1.2m |
| UBS Group AG | Added | +1.1m |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Added | +849.8k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Added | +691.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +562.0k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | New | +504.2k |
| GOLDMAN SACHS GROUP INC | Added | +501.7k |
| MORGAN STANLEY | Added | +387.6k |
Biggest sellers
| D. E. Shaw & Co., Inc. | Reduced | -2.1m |
| JANE STREET GROUP, LLC | Reduced | -1.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.6m |
| BlackRock, Inc. | Reduced | -742.1k |
| T. Rowe Price Investment Management, Inc. | Reduced | -584.1k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -565.3k |
| OBERWEIS ASSET MANAGEMENT INC/ | Reduced | -558.8k |
| RAYMOND JAMES FINANCIAL INC | Reduced | -498.6k |
| Driehaus Capital Management LLC | Reduced | -492.9k |
| TUDOR INVESTMENT CORP ET AL | Reduced | -382.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $394.6m2.7m shares |
| CITADEL ADVISORS LLC | Added | $214.1m1.4m shares |
| JANE STREET GROUP, LLC | Reduced | $205.8m1.4m shares |
| IMC-Chicago, LLC | Added | $152.4m1.0m shares |
| CITIGROUP INC | Added | $66.7m450.0k shares |
| Marex Group Ltd | New | $56.3m380.0k shares |
| D. E. Shaw & Co., Inc. | Added | $48.0m324.1k shares |
| Walleye Trading LLC | Reduced | $45.7m308.5k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $38.8m261.6k shares |
| Point72 Asset Management, L.P. | Added | $31.7m214.0k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $421.9m2.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $404.4m2.7m shares |
| Marex Group Ltd | New | $370.4m2.5m shares |
| CITADEL ADVISORS LLC | Added | $204.7m1.4m shares |
| Capula Management Ltd | Not comparable | $56.3m380.0k shares |
| D. E. Shaw & Co., Inc. | Added | $48.9m330.1k shares |
| Walleye Trading LLC | Added | $46.9m316.5k shares |
| Point72 Asset Management, L.P. | Added | $19.8m133.6k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $18.5m124.9k shares |
| Alphadyne Asset Management LP | Reduced | $10.2m68.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Marex Securities Products Inc. 13G · passive investor new · filed 2026-05-13 | 5.6% |
Fell to 5% or below in the last year: BlackRock, Inc. (4.9%, 2026-10-27), JANE STREET GROUP, LLC (2.4%, 2026-08-10), Invesco Ltd. (2.7%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 7 | $4.5m | $352.7k |
| Q1 2025 | 0 | — | 2 | $622.8k | $622.8k |
| Q2 2025 | 1 | $386.2k | 3 | $765.3k | $92.7k |
| Q3 2025 | 4 | $1.3m | 3 | $753.8k | $82.4k |
| Q4 2025 | 0 | — | 3 | $752.7k | $628.1k |
| Q1 2026 | 0 | — | 9 | $29.7m | $8.2m |
| Q2 2026 | 0 | — | 7 | $87.4m | $9.8m |
| Q3 2026 | 0 | — | 3 | $6.7m | $3.1m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-10 | Murry Stefan J. Chief Financial Officer | Sold plan | $421.3k4.0k shares |
| 2026-09-08 | Chang Hung-Lun (Fred) Officer | Sold | $3.5m32.2k shares |
| 2026-08-18 | Yeh Shu-Hua (Joshua) Officer | Sold plan | $886.4k6.0k shares |
| 2026-08-10 | Murry Stefan J. Chief Financial Officer | Sold plan | $579.2k4.0k shares |
| 2026-08-04 | Yeh Shu-Hua (Joshua) Officer | Sold plan | $596.4k4.7k shares |
| 2026-07-21 | Yeh Shu-Hua (Joshua) Officer | Sold plan | $154.2k1.3k shares |
| 2026-07-10 | Murry Stefan J. Chief Financial Officer | Sold plan | $488.4k4.0k shares |
| 2026-06-18 | Yeh Shu-Hua (Joshua) Officer | Sold plan | $1.0m6.0k shares |
| 2026-06-17 | Chang Hung-Lun (Fred) Officer | Sold plan | $6.9m40.3k shares |
| 2026-06-12 | Lin Chih-Hsiang (Thompson) President and CEO, director | Sold | $9.8m59.0k shares |
| 2026-06-12 | Chang Hung-Lun (Fred) Officer | Sold | $5.7m34.0k shares |
| 2026-06-12 | Murry Stefan J. Chief Financial Officer | Sold | $5.5m33.0k shares |
| 2026-06-12 | Kuo David C Officer | Sold | $4.9m29.2k shares |
| 2026-06-12 | Yeh Shu-Hua (Joshua) Officer | Sold | $4.8m28.8k shares |
| 2026-06-10 | Murry Stefan J. Chief Financial Officer | Sold plan | $685.8k4.0k shares |
| 2026-06-05 | Chang Hung-Lun (Fred) Officer | Sold | $800.3k4.0k shares |
| 2026-06-04 | Yeh Shu-Hua (Joshua) Officer | Sold | $2.1m10.0k shares |
| 2026-06-02 | Chen Min-Chu (Mike) Director | Sold | $1.7m8.2k shares |
| 2026-05-26 | DeLaney Cynthia Director | Sold | $10.7m56.6k shares |
| 2026-05-19 | Lin Chih-Hsiang (Thompson) President and CEO, director | Sold | $10.0m58.0k shares |
| 2026-05-19 | Yeh Shu-Hua (Joshua) Officer | Sold | $6.8m39.2k shares |
| 2026-05-19 | Chang Hung-Lun (Fred) Officer | Sold | $5.8m33.6k shares |
| 2026-05-19 | Murry Stefan J. Chief Financial Officer | Sold | $5.7m33.0k shares |
| 2026-05-19 | Kuo David C Officer | Sold | $3.3m19.2k shares |
| 2026-05-11 | Murry Stefan J. Chief Financial Officer | Sold plan | $638.1k4.0k shares |
| 2026-04-10 | Murry Stefan J. Chief Financial Officer | Sold plan | $546.0k4.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 6.5m $955.7m | Reduced -742.1k |
| Invesco Ltd. 0.04% of their portfolio | 3.4m $505.9m | Added +1.4m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 3.4m $498.3m | Added +301.5k |
| Marex Group Ltd 3.12% of their portfolio | 2.8m $419.3m | Added +2.5m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.02% of their portfolio | 2.7m $392.9m | Added +849.8k |
| UBS Group AG 0.05% of their portfolio | 2.1m $312.8m | Added +1.1m |
| OBERWEIS ASSET MANAGEMENT INC/ 5.48% of their portfolio | 1.8m $265.4m | Reduced -558.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.7m $247.6m | Added +49.6k |
| Value Aligned Research Advisors, LLC 1.41% of their portfolio | 1.6m $236.3m | Added +327.2k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.6m $235.0m | Added +501.7k |
| STATE STREET CORP 0.01% of their portfolio | 1.5m $221.9m | Reduced -146.7k |
| Hood River Capital Management LLC 1.50% of their portfolio | 1.4m $206.3m | Added +117.0k |
| Clear Street Group Inc. 0.58% of their portfolio | 1.2m $182.4m | New |
| MORGAN STANLEY 0.01% of their portfolio | 1.1m $165.2m | Added +387.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.1m $160.9m | Reduced -42.9k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 1.35% of their portfolio | 975.3k $144.5m | Added +691.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.09% of their portfolio | 649.0k $96.2m | Added +562.0k |
| JANE STREET GROUP, LLC 0.05% of their portfolio | 563.6k $83.5m | Reduced -1.7m |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.22% of their portfolio | 504.2k $74.7m | New |
| VANGUARD FIDUCIARY TRUST CO 0.02% of their portfolio | 488.9k $72.4m | Added +41.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 476.0k $70.5m | Reduced -56.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 417.7k $61.9m | Reduced -165.8k |
| Capula Management Ltd 0.25% of their portfolio | 380.7k $56.4m | Not comparable |
| GILDER GAGNON HOWE & CO LLC 0.52% of their portfolio | 343.0k $50.8m | Reduced -112.4k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 309.9k $45.9m | Added +38 |
| Focus Partners Wealth 0.04% of their portfolio | 286.2k $42.4m | Reduced -92.9k |
| Steward Partners Investment Advisory, LLC 0.20% of their portfolio | 270.8k $40.1m | Reduced -1.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 252.0k $37.3m | Added +232.6k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.12% of their portfolio | 249.6k $37.0m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 244.1k $36.2m | Reduced -13.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 243.2k $36.0m | Added +191.6k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 242.6k $35.9m | Reduced -274.7k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 235.1k $34.8m | Reduced -498.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 227.5k $33.7m | Reduced -13.3k |
| IMC-Chicago, LLC 0.30% of their portfolio | 223.4k $33.1m | Added +112.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 219.8k $32.6m | Added +48.9k |
| EMERALD ADVISERS, LLC 0.74% of their portfolio | 211.6k $31.3m | Reduced -222.3k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 211.5k $31.3m | Reduced -62.6k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio | 188.5k $27.9m | New |
| MARSHALL WACE, LLP 0.02% of their portfolio | 181.4k $26.9m | Added +2.0k |
| Nuveen, LLC 0.01% of their portfolio | 181.4k $26.9m | Reduced -201.0k |
| Balyasny Asset Management L.P. 0.05% of their portfolio | 175.7k $26.0m | Reduced -293.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio | 162.0k $24.0m | Reduced -78.7k |
| Oak Grove Capital LLC 1.73% of their portfolio | 159.2k $23.6m | Added +122.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 158.2k $23.4m | Added +52.7k |
| UNICOM Systems, Inc. 1.47% of their portfolio | 152.5k $22.6m | Added +83.9k |
| Weiss Asset Management LP 0.25% of their portfolio | 151.9k $22.5m | Not comparable |
| Swiss National Bank 0.01% of their portfolio | 148.0k $21.9m | Added +19.7k |
| Jain Global LLC 0.25% of their portfolio | 145.9k $21.6m | Added +67.3k |
| Assenagon Asset Management S.A. 0.01% of their portfolio | 144.3k $21.4m | Added +95.6k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.38% of their portfolio | 143.0k $21.2m | Reduced -136.1k |
| Driehaus Capital Management LLC 0.12% of their portfolio | 139.4k $20.7m | Reduced -492.9k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.71% of their portfolio | 137.0k $20.3m | Reduced -134.8k |
| NORGES BANK 0.00% of their portfolio | 131.2k $19.4m | Not comparable |
| Shellback Capital, LP 1.70% of their portfolio | 131.0k $19.4m | Added +66.0k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 129.8k $19.2m | Reduced -86.5k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 126.3k $18.7m | Added +29.9k |
| Funde Sino Life Insurance Co Ltd 5.81% of their portfolio | 120.3k $17.8m | First filing |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 114.8k $17.0m | Reduced -13.2k |
| Squarepoint Ops LLC 0.03% of their portfolio | 114.4k $17.0m | Reduced -381.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 110.9k $16.4m | Reduced -1.6m |
| ALGERT GLOBAL LLC 0.19% of their portfolio | 110.8k $16.4m | Added +4.2k |
| GROUP ONE TRADING LLC 0.47% of their portfolio | 110.4k $16.4m | Reduced -25.6k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.10% of their portfolio | 106.9k $15.8m | Reduced -38.8k |
| LORD, ABBETT & CO. LLC 0.04% of their portfolio | 103.7k $15.4m | Added +49.1k |
| FRED ALGER MANAGEMENT, LLC 0.05% of their portfolio | 101.8k $15.1m | New |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 100.3k $14.9m | Added +100.1k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 89.6k $13.3m | Reduced -69.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 85.6k $12.7m | Added +15.1k |
| NOMURA HOLDINGS INC 0.05% of their portfolio | 83.3k $12.3m | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio | 77.2k $11.4m | Reduced -12.5k |
| 1492 Capital Management LLC 3.34% of their portfolio | 76.4k $11.3m | Reduced -48.7k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 75.9k $11.2m | Reduced -5.3k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 72.8k $10.8m | Reduced -348.2k |
| Zweig-DiMenna Associates LLC 0.97% of their portfolio | 71.8k $10.6m | Reduced -8.2k |
| FIFTH THIRD BANCORP 0.02% of their portfolio | 70.9k $10.5m | Added +51.6k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 69.9k $10.4m | Added +34.2k |
| Global Trust Asset Management, LLC 3.24% of their portfolio | 69.8k $10.3m | Added +10.3k |
| Legal & General Group Plc 0.00% of their portfolio | 63.6k $9.4m | Reduced -1.2k |
| AXIOM INVESTORS LLC /DE 0.08% of their portfolio | 63.2k $9.4m | Reduced -31.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 61.8k $9.2m | Added +46.8k |
| CITIGROUP INC 0.00% of their portfolio | 60.9k $9.0m | Reduced -89.4k |
| TUDOR INVESTMENT CORP ET AL 0.04% of their portfolio | 60.7k $9.0m | Reduced -382.1k |
| T. Rowe Price Investment Management, Inc. 0.01% of their portfolio | 59.1k $8.8m | Reduced -584.1k |
| FirstWave Capital Management LLC 3.81% of their portfolio | 58.3k $8.6m | Added +38.8k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 57.5k $8.5m | New |
| Timothy G. Youngquist 2020 Irrevocable Trust 1.66% of their portfolio | 55.8k $8.3m | Added +7.9k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.40% of their portfolio | 55.8k $8.3m | Reduced -42.5k |
| OAK RIDGE INVESTMENTS LLC 0.47% of their portfolio | 55.7k $8.3m | Added +17.7k |
| SG Americas Securities, LLC 0.00% of their portfolio | 54.8k $8.1m | Reduced -141.1k |
| Greenwoods Asset Management Hong Kong Ltd. 0.36% of their portfolio | 53.5k $7.9m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 53.5k $7.9m | Reduced -104.9k |
| Kultura Capital Management LP 3.63% of their portfolio | 53.3k $7.9m | Added +16.7k |
| Emerald Investment Advisers, LLC 0.52% of their portfolio | 53.1k $7.9m | Reduced -5.0k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 52.7k $7.8m | Added +8.8k |
| Handelsbanken Fonder AB 0.02% of their portfolio | 52.1k $7.7m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 50.7k $7.5m | Reduced -15.8k |
| NEXT CENTURY GROWTH INVESTORS LLC 0.39% of their portfolio | 50.0k $7.4m | Reduced -270.7k |
| Fund Resources Investment Holding Group Co Ltd 0.91% of their portfolio | 50.0k $7.4m | New |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 49.5k $7.3m | Added +18.8k |