Applied Optoelectronics

AAOI • NASDAQ

Applied Optoelectronics is a semiconductors company in the technology sector on NASDAQ, led by Chih-Hsiang (Thompson) Lin, with a market cap of $2.2B. As of Q3 2025, 64% of shares are held by 177 institutional investors, with BlackRock, Inc. as the largest holder at 7.78%.

CEOChih-Hsiang (Thompson) Lin

Market Cap$2.2B

Semiconductors

Technology

Employees2.1K

Websiteao-inc.com

Country

United States of America

Overview

Overview of institutional ownership in AAOI as of Q3 2025 with a market cap of $1.6B

All Institutions

Institutions: 177
Value Held: $1.0B
Shares Held: 39.7M
Avg Position: $5.8M
Median Position: $658.7K

Hedge Funds

Hedge Funds: 27
Value Held: $159.2M
Shares Held: 6.1M
Avg Position: $5.9M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

53.93%

$872.0M

Hedge Funds

9.85%

$159.2M

Retail & Other

36.22%

$585.6M

Based on market cap of $1.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in AAOI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$125.8M 0.00% of portfolio	7.78% 4.9M shares	Q2 2014 Held for 11y 5m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$119.9M 0.00% of portfolio	7.42% 4.6M shares	Q4 2013 Held for 11y 11m	$6.69T
OBERWEIS ASSET MANAGEMENT INC/ Long Only Manager	James Walter Oberweis President	$49.0M 1.88% of portfolio	3.03% 1.9M shares	Q3 2023 Held for 2y 2m	$2.6B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$43.1M 0.01% of portfolio	2.67% 1.7M shares	Q1 2016 Held for 9y 8m	$691.34B
Hood River Capital Management LLC Long Only Manager	Brian Paul Smoluch Managing Partner	$40.9M 0.48% of portfolio	2.53% 1.6M shares	Q3 2025 Held for 2 months	$8.5B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$37.4M 0.00% of portfolio	2.31% 1.4M shares	Q4 2013 Held for 11y 11m	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$35.4M 0.00% of portfolio	2.19% 1.4M shares	Q4 2013 Held for 11y 11m	$1.57T
CITIGROUP INC Institution	Jane Fraser CEO	$30.1M 0.02% of portfolio	1.86% 1.2M shares	Q4 2013 Held for 11y 11m	$144.32B
CloudAlpha Capital Management Limited/Hong Kong Institution	Michael Terence Turner Managing Partner	$28.0M 2.46% of portfolio	1.73% 1.1M shares	Q4 2024 Held for 11 months	$1.1B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$26.5M 0.04% of portfolio	1.64% 1.0M shares	Q4 2014 Held for 10y 11m	$67.9B

Net Capital Flow

Institutional buying and selling activity for AAOI in Q3 2025

Traded: +$179.5M
Buyers: 113
Sellers: 63
Total Bought: +$364.4M
Total Sold: −$184.8M
Avg Position: $5.2M

Biggest Buyers

Institution	Net Bought	Current Position
Hood River Capital Management LLC Long Only Manager	+$40.9M +1.6M shares	$40.9M 1.6M shares
GOLDMAN SACHS GROUP INC Institution	+$34.4M +1.3M shares	$43.1M 1.7M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$25.4M +981.0K shares	$25.4M 981.0K shares
Hawk Ridge Management LLC Hedge Fund•Long/Short	+$21.4M +825.0K shares	$21.4M 825.0K shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	+$19.7M +761.2K shares	$19.7M 761.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$17.0M +653.8K shares	$17.0M 653.8K shares
S S.A.C. Capital Advisors Ltd. Institution	+$16.8M +646.8K shares	$16.8M 646.8K shares
B BlackRock, Inc. Institution	+$15.7M +603.7K shares	$125.8M 4.9M shares
VANGUARD GROUP INC Institution	+$14.3M +551.9K shares	$119.9M 4.6M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$12.5M +482.1K shares	$26.5M 1.0M shares

Biggest Sellers

Institution	Net Sold	Current Position
N Neuberger Berman Group LLC Institution	−$69.8M −2.7M shares	Sold Off 0 shares
D D. E. Shaw & Co., Inc. Institution	−$19.8M −769.2K shares	Sold Off 0 shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$17.9M −688.6K shares	$7.5M 289.4K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	−$14.7M −565.6K shares	$9.7M 375.3K shares
CloudAlpha Capital Management Limited/Hong Kong Institution	−$8.6M −330.2K shares	$28.0M 1.1M shares
MORGAN STANLEY RIA/Wealth	−$6.9M −265.7K shares	$17.1M 661.1K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$4.7M −184.2K shares	Sold Off 0 shares
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	−$4.5M −172.2K shares	$6.3M 241.4K shares
J Jump Financial, LLC Institution	−$4.5M −173.3K shares	Sold Off 0 shares
Z Zweig-DiMenna Associates LLC Hedge Fund•Long/Short	−$3.5M −135.0K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited AAOI in Q3 2025

New Positions: 19
New Value: $50.4M
Exited Positions: 22
Exited Value: $110.9M

New Positions

Institution	Position Value
Hawk Ridge Management LLC Hedge Fund•Long/Short	$21.4M 825.0K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	$7.8M 300.0K shares
AI-Squared Management Ltd Private Equity	$5.0M 194.5K shares
W WT Asset Management Ltd Institution	$5.0M 194.4K shares
CASTLEARK MANAGEMENT LLC Long Only Manager	$3.3M 125.4K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$2.1M 81.8K shares
F/M Investments LLC ETF Provider	$1.7M 64.2K shares
B BOCHK Asset Management Ltd Institution	$1.5M 56.9K shares
Cinctive Capital Management LP Hedge Fund•Multi-Strategy	$799.8K 30.8K shares
DIKER MANAGEMENT LLC RIA/Wealth	$518.6K 20.0K shares

Exited Positions

Institution	Previous Position
N Neuberger Berman Group LLC Institution	$69.8M 2.7M shares
D D. E. Shaw & Co., Inc. Institution	$19.8M 769.2K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	$4.7M 184.2K shares
J Jump Financial, LLC Institution	$4.5M 173.3K shares
Z Zweig-DiMenna Associates LLC Hedge Fund•Long/Short	$3.5M 135.0K shares
G GF FUND MANAGEMENT CO. LTD. Institution	$2.8M 110.0K shares
N NOMURA HOLDINGS INC Institution	$1.5M 59.6K shares
Eschler Asset Management LLP Hedge Fund•Long/Short	$856.3K 33.3K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	$851.2K 33.1K shares
C China Universal Asset Management Co., Ltd. Institution	$770.7K 30.0K shares

Options Activity

Institutions with the largest Call and Put options positions in AAOI as of Q3 2025

Call Positions: 19
Call Value: $81.8M
Put Positions: 16
Put Value: $164.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$17.1M 6.6K contracts
J JANE STREET GROUP, LLC Institution	$15.3M 5.9K contracts
D D. E. Shaw & Co., Inc. Institution	$10.1M 3.9K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$10.0M 3.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$7.2M 2.8K contracts
W WOLVERINE TRADING, LLC Institution	$5.3M 2.1K contracts
ARDSLEY ADVISORY PARTNERS Hedge Fund•Long/Short	$4.3M 1.7K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$2.8M 1.1K contracts
C Cubist Systematic Strategies, LLC Institution	$2.5M 946.0 contracts
Walleye Trading LLC RIA/Wealth	$2.4M 910.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$88.5M 34.1K contracts
J JANE STREET GROUP, LLC Institution	$32.9M 12.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$11.6M 4.5K contracts
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$6.5M 2.5K contracts
Walleye Trading LLC RIA/Wealth	$6.2M 2.4K contracts
W WOLVERINE TRADING, LLC Institution	$4.1M 1.6K contracts
D D. E. Shaw & Co., Inc. Institution	$3.8M 1.4K contracts
C Cubist Systematic Strategies, LLC Institution	$3.6M 1.4K contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$2.3M 896.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.9M 733.0 contracts

Most Committed Institutions

Institutions with AAOI as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
AI-Squared Management Ltd Private Equity	-	5.25% $5.0M	0.31% 194.5K shares	Q3 2025 Held for 2 months	$96.0M
CloudAlpha Capital Management Limited/Hong Kong Institution	Michael Terence Turner Managing Partner	2.46% $28.0M	1.73% 1.1M shares	Q4 2024 Held for 11 months	$1.1B
OBERWEIS ASSET MANAGEMENT INC/ Long Only Manager	James Walter Oberweis President	1.88% $49.0M	3.03% 1.9M shares	Q3 2023 Held for 2y 2m	$2.6B
ARDSLEY ADVISORY PARTNERS Hedge Fund•Long/Short	Steven Nicholas Napoli CFO	1.49% $9.6M	0.58% 364.5K shares	Q1 2025 Held for 8 months	$641.4M
P Point72 Asia Pte. Ltd. Institution	-	1.36% $8.8M	0.54% 339.0K shares	Q3 2025 Held for 2 months	$645.8M
Hawk Ridge Management LLC Hedge Fund•Long/Short	David Graham Brown CIO	1.00% $21.4M	1.32% 825.0K shares	Q3 2025 Held for 2 months	$2.1B
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	Pamela Marie Lawrence President	0.85% $11.1M	0.68% 426.0K shares	Q3 2025 Held for 2 months	$1.3B
S S.A.C. Capital Advisors Ltd. Institution	-	0.81% $16.8M	1.04% 646.8K shares	Q1 2025 Held for 8 months	$2.1B
Portolan Capital Management, LLC Hedge Fund•Long/Short	George Frederic Mccabe CIO	0.77% $14.2M	0.88% 546.2K shares	Q2 2023 Held for 2y 5m	$1.8B
EMERALD MUTUAL FUND ADVISERS TRUST Long Only Manager	Stacey Lynn Sears President	0.52% $9.8M	0.61% 379.8K shares	Q1 2024 Held for 1y 8m	$1.9B

Hedge Fund Spotlight

Discover hedge funds investing in AAOI

Portolan Capital Management, LLC

Hedge Fund • Long/Short

Portfolio ManagerGeorge Frederic Mccabe

Portfolio Value: $1.8B
Positions: 119
Last Reported: Q3 2025

Sector Allocation

Position in Applied Optoelectronics

Market Value: $14.2M
Shares Held: 546.2K
Portfolio Weight: 0.77%
Owned Since: 2023-Q2

Top Holding	Sector	Market Value	Weight
1 Modine Manufacturing MOD	Auto - Parts Consumer Cyclical	$85.6M	4.63%
2 TTM Technologies TTMI	Hardware, Equipment & Parts Technology	$68.5M	3.71%
3 e.l.f. Beauty ELF	Household & Personal Products Consumer Defensive	$64.6M	3.49%