ASPEN AEROGELS INC ASPN
COM · Common Stock · CUSIP 04523Y105 · ISIN US04523Y1055
Company in Northborough, United States
- SectorIndustrials
- IndustryWholesale-Lumber & Other Construction Materials
- HeadquartersNorthborough, MA
- Founded2001
- Websiteaerogel.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 ($311.1k this quarter). Holder counts are more reliable. Shares outstanding: 76.7m as of 2024-03-05, 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 ≈ $17.60. Options: 11 managers hold calls ($51.6m notional), 12 hold puts ($38.3m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 140 |
| Q4 2022 | 164 |
| Q1 2023 | 157 |
| Q2 2023 | 160 |
| Q3 2023 | 160 |
| Q4 2023 | 171 |
| Q1 2024 | 168 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 108 | 46 |
| Q1 2023 | 104 | 58 |
| Q2 2023 | 97 | 64 |
| Q3 2023 | 67 | 81 |
| Q4 2023 | 80 | 70 |
| Q1 2024 | 79 | 83 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $13.8m | $8.1m | 0.59 |
| Q3 2023 | $14.8m | $47.3m | 3.20 |
| Q4 2023 | $30.2m | $45.3m | 1.50 |
| Q1 2024 | $51.6m | $38.3m | 0.74 |
Biggest buyers
| MORGAN STANLEY | Added | +1.9m |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +783.1k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Added | +621.0k |
| Hood River Capital Management LLC | Added | +357.9k |
| Point72 Asset Management, L.P. | Added | +331.8k |
| DIMENSIONAL FUND ADVISORS LP | Added | +317.9k |
| FIRST TRUST ADVISORS LP | New | +280.6k |
| G2 Investment Partners Management LLC | New | +220.1k |
| BANK OF AMERICA CORP /DE/ | Added | +213.1k |
| VANGUARD GROUP INC | Added | +175.9k |
Biggest sellers
| AIGH Capital Management LLC | Sold out | -1.8m |
| Nuveen Asset Management, LLC | Reduced | -654.2k |
| Samjo Management, LLC | Reduced | -618.4k |
| Worth Venture Partners, LLC | Sold out | -441.0k |
| ZEVENBERGEN CAPITAL INVESTMENTS LLC | Sold out | -280.8k |
| CITADEL ADVISORS LLC | Reduced | -222.8k |
| AMERIPRISE FINANCIAL INC | Reduced | -197.6k |
| Penn Capital Management Company, LLC | Reduced | -182.3k |
| ARDSLEY ADVISORY PARTNERS LP | Reduced | -181.0k |
| AWM Investment Company, Inc. | Reduced | -168.6k |
Biggest calls
| Caption Management, LLC | Added | $21.0m1.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $12.1m688.1k shares |
| JANE STREET GROUP, LLC | Added | $9.5m541.7k shares |
| CITADEL ADVISORS LLC | Added | $4.3m246.1k shares |
| SIMPLEX TRADING, LLC | Added | $2.6m145.1k shares |
| GROUP ONE TRADING LLC | Added | $818.4k46.5k shares |
| DLD Asset Management, LP | New | $659.7k38.6k shares |
| IMC-Chicago, LLC | New | $320.3k18.2k shares |
| WOLVERINE TRADING, LLC | Added | $286.9k16.3k shares |
| PEAK6 Investments LLC | Reduced | $73.9k4.2k shares |
Biggest puts
| DLD Asset Management, LP | Reduced | $17.8m381.4k shares |
| Caption Management, LLC | Added | $10.4m590.2k shares |
| JANE STREET GROUP, LLC | Added | $4.1m233.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.2m180.3k shares |
| CITADEL ADVISORS LLC | Added | $1.4m77.8k shares |
| SIMPLEX TRADING, LLC | Added | $399.0k22.7k shares |
| IMC-Chicago, LLC | New | $350.2k19.9k shares |
| WOLVERINE TRADING, LLC | New | $308.0k17.5k shares |
| GROUP ONE TRADING LLC | Added | $271.0k15.4k shares |
| PEAK6 Investments LLC | Reduced | $91.5k5.2k 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 |
|---|---|
| HIRSCHMAN ORIN 13G · institution new · filed 2026-10-19 | 8.6% |
| OAKTOP CAPITAL MANAGEMENT II, L.P. 13G · institution no change · filed 2025-05-15 | 5.3% |
Fell to 5% or below in the last year: Wood River Capital, LLC (0.0%, 2026-09-24), NEEDHAM INVESTMENT MANAGEMENT LLC (3.9%, 2026-08-13), VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales in Q1 2024
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 |
|---|---|---|---|---|---|
| Q2 2022 | 1 | $73.2k | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 1 | $30.5k | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 3 | $550.9k | 0 | — | — |
| Q4 2023 | 0 | — | 1 | $1.7k | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| KIM, LLC 34.07% of their portfolio | 15.8m $277.7m | Unchanged |
| BlackRock Inc. 0.00% of their portfolio | 4.1m $71.5m | Added +7.9k |
| VANGUARD GROUP INC 0.00% of their portfolio | 3.6m $63.7m | Added +175.9k |
| OAKTOP CAPITAL MANAGEMENT II, L.P. 6.79% of their portfolio | 3.3m $58.8m | Added +145.8k |
| Hood River Capital Management LLC 1.30% of their portfolio | 3.3m $58.1m | Added +357.9k |
| MORGAN STANLEY 0.00% of their portfolio | 3.3m $57.5m | Added +1.9m |
| George Kaiser Family Foundation 10.57% of their portfolio | 3.2m $55.7m | Unchanged |
| NEEDHAM INVESTMENT MANAGEMENT LLC 4.91% of their portfolio | 3.0m $52.8m | Added +34.8k |
| FMR LLC 0.00% of their portfolio | 2.4m $41.9m | Added +49.9k |
| Encompass Capital Advisors LLC 2.08% of their portfolio | 2.2m $38.4m | Added +153.8k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.34% of their portfolio | 2.1m $36.5m | Added +621.0k |
| AWM Investment Company, Inc. 4.56% of their portfolio | 2.0m $34.8m | Reduced -168.6k |
| Samjo Management, LLC 10.26% of their portfolio | 1.7m $29.2m | Reduced -618.4k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 1.7m $29.1m | Reduced -197.6k |
| ROYCE & ASSOCIATES LP 0.26% of their portfolio | 1.6m $29.0m | Reduced -71.0k |
| Telemark Asset Management, LLC 2.71% of their portfolio | 1.5m $26.3m | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 1.4m $24.4m | Added +98.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.2m $20.8m | Added +69.4k |
| FEDERATED HERMES, INC. 0.05% of their portfolio | 1.2m $20.3m | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.1m $20.0m | Added +317.9k |
| UniSuper Management Pty Ltd 0.18% of their portfolio | 1.1m $19.1m | Unchanged |
| Driehaus Capital Management LLC 0.16% of their portfolio | 936.1k $16.5m | Reduced -60.0k |
| ARDSLEY ADVISORY PARTNERS LP 2.19% of their portfolio | 865.0k $15.2m | Reduced -181.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 803.5k $14.1m | Added +783.1k |
| Mesirow Institutional Investment Management, Inc. 1.04% of their portfolio | 665.4k $11.7m | Reduced -96.0k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.58% of their portfolio | 581.2k $10.2m | Added +724 |
| Penn Capital Management Company, LLC 0.84% of their portfolio | 537.4k $9.5m | Reduced -182.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 510.2k $9.0m | Reduced -10.9k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 495.2k $8.7m | Added +331.8k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.06% of their portfolio | 478.2k $8.4m | Added +155.1k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 471.2k $8.3m | Reduced -654.2k |
| Baird Financial Group, Inc. 0.02% of their portfolio | 435.5k $7.7m | Added +578 |
| ESSEX INVESTMENT MANAGEMENT CO LLC 1.34% of their portfolio | 385.5k $6.8m | Reduced -47.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 383.7k $6.8m | Reduced -124.4k |
| Sargent Investment Group, LLC 1.27% of their portfolio | 330.2k $5.8m | Reduced -7.1k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 328.5k $5.8m | Added +127.7k |
| UBS Group AG 0.00% of their portfolio | 300.0k $5.3m | Added +94.2k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 280.6k $4.9m | New |
| Harvey Partners, LLC 0.53% of their portfolio | 277.5k $4.9m | Reduced -25.0k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.02% of their portfolio | 264.9k $4.7m | Reduced -7.7k |
| Invesco Ltd. 0.00% of their portfolio | 256.8k $4.5m | Added +40.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 244.8k $4.3m | Added +213.1k |
| CASTLEARK MANAGEMENT LLC 0.17% of their portfolio | 230.4k $4.1m | Reduced -19.6k |
| G2 Investment Partners Management LLC 1.03% of their portfolio | 220.1k $3.9m | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 218.3k $3.8m | Reduced -37.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 217.2k $3.8m | Reduced -5.3k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 215.1k $3.8m | Added +40.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 204.8k $3.6m | Reduced -8.0k |
| Informed Momentum Co LLC 0.56% of their portfolio | 204.4k $3.6m | Added +3.0k |
| MASTERS CAPITAL MANAGEMENT LLC 0.66% of their portfolio | 200.0k $3.5m | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 179.7k $3.2m | Reduced -38.5k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 177.9k $3.1m | Reduced -42.4k |
| Squarepoint Ops LLC 0.01% of their portfolio | 167.7k $3.0m | Added +153.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 143.4k $2.5m | Reduced -3.4k |
| GREENWOOD CAPITAL ASSOCIATES LLC 0.33% of their portfolio | 140.3k $2.5m | Reduced -149.7k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 139.9k $2.5m | New |
| Redwood Grove Capital, LLC 0.73% of their portfolio | 133.2k $2.3m | Unchanged |
| Swiss National Bank 0.00% of their portfolio | 120.5k $2.1m | Added +16.8k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 116.4k $2.0m | Added +43.1k |
| COMERICA BANK 0.01% of their portfolio | 113.2k $2.0m | New |
| Legato Capital Management LLC 0.23% of their portfolio | 107.3k $1.9m | Unchanged |
| Marex Group Ltd 0.06% of their portfolio | 105.0k $1.8m | Added +40.0k |
| Trexquant Investment LP 0.04% of their portfolio | 102.4k $1.8m | New |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 100.9k $1.8m | Added +634 |
| Palogic Value Management, L.P. 0.76% of their portfolio | 100.0k $1.8m | Reduced -100.0k |
| Maven Securities LTD 0.10% of their portfolio | 100.0k $1.8m | New |
| Bouvel Investment Partners, LLC 0.72% of their portfolio | 94.2k $1.7m | Reduced -130 |
| Redwood Investments, LLC 0.46% of their portfolio | 91.6k $1.6m | Reduced -134.7k |
| BANTAMAC CAPITAL, LLC 0.90% of their portfolio | 89.6k $1.6m | New |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd 0.17% of their portfolio | 85.3k $1.5m | Reduced -1.6k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 84.8k $1.5m | Reduced -2.0k |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 83.3k $1.5m | Reduced -1.5k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 82.0k $1.4m | Added +2.2k |
| Caption Management, LLC 0.16% of their portfolio | 80.0k $1.4m | Added +68.1k |
| Strategic Wealth Partners, Ltd. 0.13% of their portfolio | 69.0k $1.2m | Added +5.3k |
| GSA CAPITAL PARTNERS LLP 0.09% of their portfolio | 67.1k $1.2m | New |
| Jackson Creek Investment Advisors LLC 0.39% of their portfolio | 61.8k $1.1m | Reduced -39.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 60.0k $1.1m | Added +4.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 60.0k $1.1m | Reduced -4.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 57.8k $1.0m | Unchanged |
| BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio | 53.4k $940.2k | Added +40.9k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 52.3k $920.1k | Reduced -222.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 50.9k $895.7k | Unchanged |
| ALGERT GLOBAL LLC 0.03% of their portfolio | 50.5k $889.4k | Reduced -10.7k |
| Legal & General Group Plc 0.00% of their portfolio | 50.1k $881.5k | Added +5.3k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 48.3k $850.9k | New |
| BARCLAYS PLC 0.00% of their portfolio | 48.0k $845.5k | Reduced -32.6k |
| Graham Capital Management, L.P. 0.02% of their portfolio | 44.1k $776.1k | New |
| Bridgewater Advisors Inc. 0.11% of their portfolio | 42.6k $750.4k | New |
| WOODMONT INVESTMENT COUNSEL LLC 0.06% of their portfolio | 41.6k $732.2k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 40.3k $708.9k | Added +28.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 40.2k $707.1k | Reduced -28.5k |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 36.1k $635.6k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 35.4k $623.4k | Reduced -62.8k |
| Firsthand Capital Management, Inc. 1.00% of their portfolio | 35.0k $616.0k | Unchanged |
| Abbot Financial Management, Inc. 0.34% of their portfolio | 34.8k $612.8k | Added +6.7k |
| ARS Investment Partners, LLC 0.06% of their portfolio | 33.7k $592.8k | Reduced -7.8k |
| Eschler Asset Management LLP 0.38% of their portfolio | 33.1k $582.2k | New |
| PEAK6 Investments LLC 0.03% of their portfolio | 32.8k $577.3k | New |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 30.8k $542.6k | Added +35 |