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 ($13.8m this quarter). Holder counts are more reliable. Shares outstanding: 82.0m as of 2024-11-07, 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 ≈ $11.89. Options: 18 managers hold calls ($46.5m notional), 15 hold puts ($25.1m).
Trends to Q4 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 |
| Q2 2024 | 223 |
| Q3 2024 | 245 |
| Q4 2024 | 232 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 104 | 58 |
| Q2 2023 | 97 | 64 |
| Q3 2023 | 67 | 81 |
| Q4 2023 | 80 | 70 |
| Q1 2024 | 79 | 83 |
| Q2 2024 | 130 | 83 |
| Q3 2024 | 138 | 109 |
| Q4 2024 | 149 | 112 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $51.6m | $38.3m | 0.74 |
| Q2 2024 | $114.0m | $43.7m | 0.38 |
| Q3 2024 | $99.7m | $23.6m | 0.24 |
| Q4 2024 | $46.5m | $25.1m | 0.54 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | Added | +1.6m |
| Cubist Systematic Strategies, LLC | New | +1.4m |
| Point72 Asset Management, L.P. | New | +1.1m |
| Alyeska Investment Group, L.P. | New | +800.0k |
| DENDUR CAPITAL LP | New | +775.0k |
| Qube Research & Technologies Ltd | Added | +769.4k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +632.5k |
| TWO SIGMA INVESTMENTS, LP | Added | +512.4k |
| M&G PLC | New | +511.3k |
| CastleKnight Management LP | New | +445.6k |
Biggest sellers
| FMR LLC | Reduced | -2.8m |
| Driehaus Capital Management LLC | Sold out | -2.6m |
| Encompass Capital Advisors LLC | Sold out | -1.7m |
| LOOMIS SAYLES & CO L P | Sold out | -1.6m |
| DLD Asset Management, LP | Reduced | -556.1k |
| MACQUARIE GROUP LTD | Sold out | -550.0k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -487.9k |
| FEDERATED HERMES, INC. | Reduced | -368.1k |
| LORD, ABBETT & CO. LLC | Sold out | -365.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -343.9k |
Biggest calls
| Caption Management, LLC | Reduced | $11.1m931.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $7.3m614.3k shares |
| CITADEL ADVISORS LLC | Added | $6.5m550.9k shares |
| JANE STREET GROUP, LLC | Added | $5.0m418.8k shares |
| CastleKnight Management LP | New | $3.4m290.0k shares |
| WOLVERINE TRADING, LLC | Added | $3.3m270.8k shares |
| ARDSLEY ADVISORY PARTNERS LP | Reduced | $2.4m200.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $2.3m194.2k shares |
| IMC-Chicago, LLC | Added | $2.0m169.4k shares |
| Cubist Systematic Strategies, LLC | New | $1.1m96.4k shares |
Biggest puts
| Caption Management, LLC | Added | $6.5m544.9k shares |
| DLD Asset Management, LP | New | $6.3m527.6k shares |
| CITADEL ADVISORS LLC | Added | $3.7m309.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.4m286.3k shares |
| IMC-Chicago, LLC | Added | $1.4m117.4k shares |
| Cubist Systematic Strategies, LLC | New | $860.1k72.4k shares |
| WOLVERINE TRADING, LLC | Added | $579.4k48.2k shares |
| GROUP ONE TRADING LLC | Added | $466.9k39.3k shares |
| Walleye Trading LLC | Added | $421.7k35.5k shares |
| TUDOR INVESTMENT CORP ET AL | New | $382.5k32.2k 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 Q4 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 |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 3 | $550.9k | 0 | — | — |
| Q4 2023 | 0 | — | 1 | $1.7k | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 5 | $16.0m | $12.7m |
| Q3 2024 | 0 | — | 2 | $2.9m | $2.9m |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| KIM, LLC 20.68% of their portfolio | 12.3m $145.9m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 5.0m $59.4m | Added +336.9k |
| VANGUARD GROUP INC 0.00% of their portfolio | 4.4m $51.8m | Added +226.3k |
| OAKTOP CAPITAL MANAGEMENT II, L.P. 5.55% of their portfolio | 3.7m $44.4m | Added +200.0k |
| George Kaiser Family Foundation 5.54% of their portfolio | 3.2m $37.6m | Unchanged |
| NEEDHAM INVESTMENT MANAGEMENT LLC 2.19% of their portfolio | 2.4m $28.4m | Added +117.5k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 2.0m $24.0m | Added +409.9k |
| Telemark Asset Management, LLC 2.24% of their portfolio | 1.9m $22.5m | Added +400.0k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 1.6m $19.3m | Added +1.6m |
| STATE STREET CORP 0.00% of their portfolio | 1.5m $17.7m | Added +76.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.5m $17.4m | Added +78.2k |
| Cubist Systematic Strategies, LLC 0.27% of their portfolio | 1.4m $16.6m | New |
| FMR LLC 0.00% of their portfolio | 1.2m $14.6m | Reduced -2.8m |
| AWM Investment Company, Inc. 1.75% of their portfolio | 1.2m $14.4m | Added +34.1k |
| Point72 Asset Management, L.P. 0.04% of their portfolio | 1.1m $13.1m | New |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 1.0m $11.9m | Reduced -487.9k |
| ROYCE & ASSOCIATES LP 0.10% of their portfolio | 946.6k $11.2m | Reduced -265.5k |
| Samjo Management, LLC 3.92% of their portfolio | 874.6k $10.4m | Reduced -21.1k |
| UniSuper Management Pty Ltd 0.07% of their portfolio | 848.3k $10.1m | Reduced -107.1k |
| Alyeska Investment Group, L.P. 0.04% of their portfolio | 800.0k $9.5m | New |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 783.2k $9.3m | Added +769.4k |
| MORGAN STANLEY 0.00% of their portfolio | 775.3k $9.2m | Reduced -50.5k |
| DENDUR CAPITAL LP 1.05% of their portfolio | 775.0k $9.2m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 766.4k $9.1m | Added +632.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 671.8k $8.0m | Added +281.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 641.0k $7.6m | Added +77.4k |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 630.5k $7.5m | Reduced -368.1k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 624.2k $7.4m | Added +226.4k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 592.8k $7.0m | Added +512.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 588.4k $7.0m | Added +188.9k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 562.3k $6.7m | Reduced -178.6k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.36% of their portfolio | 554.2k $6.6m | Added +19.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 549.7k $6.5m | Added +40.3k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.06% of their portfolio | 525.7k $6.2m | Reduced -183.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 524.5k $6.2m | Added +79.1k |
| M&G PLC 0.04% of their portfolio | 511.3k $6.1m | New |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 492.5k $5.9m | Added +216.5k |
| Mesirow Institutional Investment Management, Inc. 0.45% of their portfolio | 488.6k $5.8m | Added +11.5k |
| SORA INVESTORS LLC 0.64% of their portfolio | 487.2k $5.8m | Added +362.2k |
| CastleKnight Management LP 0.58% of their portfolio | 445.6k $5.3m | New |
| ALGERT GLOBAL LLC 0.12% of their portfolio | 440.5k $5.2m | Added +312.7k |
| UBS Group AG 0.00% of their portfolio | 435.8k $5.2m | Added +304.6k |
| Prescott Group Capital Management, L.L.C. 0.70% of their portfolio | 431.5k $5.1m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 415.4k $4.9m | Added +112.2k |
| Squarepoint Ops LLC 0.01% of their portfolio | 402.4k $4.8m | Added +118.2k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 401.1k $4.8m | Added +57.0k |
| Trexquant Investment LP 0.06% of their portfolio | 400.7k $4.8m | New |
| Sargent Investment Group, LLC 0.77% of their portfolio | 371.0k $4.7m | Added +47.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 284.4k $3.4m | Added +51.0k |
| Caption Management, LLC 0.13% of their portfolio | 262.6k $3.1m | Added +202.1k |
| ARDSLEY ADVISORY PARTNERS LP 0.60% of their portfolio | 261.1k $3.1m | Added +136.1k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 260.0k $3.1m | New |
| ESSEX INVESTMENT MANAGEMENT CO LLC 0.53% of their portfolio | 248.2k $2.9m | Added +32.5k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 244.9k $2.9m | First filing |
| Jump Financial, LLC 0.06% of their portfolio | 239.9k $2.8m | Added +141.8k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 224.5k $2.7m | Added +40.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 216.0k $2.6m | Added +132.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 189.9k $2.3m | Added +16.1k |
| OPPENHEIMER & CO INC 0.03% of their portfolio | 181.5k $2.2m | Added +79.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 167.2k $2.0m | Reduced -343.9k |
| Engineers Gate Manager LP 0.03% of their portfolio | 155.1k $1.8m | New |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 152.5k $1.8m | Reduced -86.4k |
| CAPITAL FUND MANAGEMENT S.A. 0.02% of their portfolio | 151.4k $1.8m | Added +75.8k |
| Redwood Grove Capital, LLC 0.54% of their portfolio | 147.7k $1.8m | Unchanged |
| LMR Partners LLP 0.03% of their portfolio | 141.8k $1.7m | New |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 138.7k $1.6m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 135.6k $1.6m | Added +117.4k |
| Graham Capital Management, L.P. 0.05% of their portfolio | 131.5k $1.6m | Added +68.2k |
| Palogic Value Management, L.P. 0.62% of their portfolio | 130.0k $1.5m | New |
| Swiss National Bank 0.00% of their portfolio | 128.8k $1.5m | Added +2.4k |
| ALPS ADVISORS INC 0.01% of their portfolio | 124.2k $1.5m | Reduced -36.2k |
| IMC-Chicago, LLC 0.04% of their portfolio | 121.7k $1.4m | Added +92.1k |
| Bryce Point Capital, LLC 0.41% of their portfolio | 120.2k $1.4m | First filing |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 119.9k $1.4m | Reduced -5.1k |
| Aquatic Capital Management LLC 0.04% of their portfolio | 117.2k $1.4m | Added +47.0k |
| BARCLAYS PLC 0.00% of their portfolio | 107.8k $1.3m | Added +15.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 105.6k $1.3m | Added +54.2k |
| Firsthand Capital Management, Inc. 2.60% of their portfolio | 105.0k $1.2m | Unchanged |
| DLD Asset Management, LP 0.21% of their portfolio | 104.3k $1.2m | Reduced -556.1k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 101.5k $1.2m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 93.0k $1.1m | Added +2.6k |
| GROUP ONE TRADING LLC 0.04% of their portfolio | 87.8k $1.0m | Added +52.5k |
| FOX RUN MANAGEMENT, L.L.C. 0.19% of their portfolio | 87.6k $1.0m | New |
| CITIGROUP INC 0.00% of their portfolio | 87.6k $1.0m | Added +22.9k |
| XTX Topco Ltd 0.09% of their portfolio | 85.7k $1.0m | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 85.5k $1.0m | Added +33.0k |
| Bridgewater Advisors Inc. 0.11% of their portfolio | 82.4k $1.0m | Added +5.0k |
| HRT FINANCIAL LP 0.01% of their portfolio | 81.7k $970.0k | Reduced -2.0k |
| Walleye Capital LLC 0.01% of their portfolio | 80.8k $960.0k | Added +69.2k |
| STOREBRAND ASSET MANAGEMENT AS 0.00% of their portfolio | 68.8k $817.9k | New |
| Dynamic Technology Lab Private Ltd 0.13% of their portfolio | 65.5k $778.0k | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 64.7k $768.6k | Reduced -85.9k |
| Quantbot Technologies LP 0.03% of their portfolio | 64.7k $768.3k | New |
| Bouvel Investment Partners, LLC 0.28% of their portfolio | 64.4k $764.6k | Reduced -26.6k |
| Legal & General Group Plc 0.00% of their portfolio | 63.5k $754.8k | Added +348 |
| Cannell & Spears LLC 0.02% of their portfolio | 62.9k $747.6k | Added +52.9k |
| NewEdge Advisors, LLC 0.00% of their portfolio | 61.1k $725.7k | Reduced -4.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 61.0k $725.2k | Added +264 |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 61.0k $724.7k | New |
| Campbell & CO Investment Adviser LLC 0.06% of their portfolio | 60.6k $720.5k | New |