Koch Industries-owned Wood River Capital, LLC filed a 13D/A form with the SEC disclosing ownership of 19.2 million Aspen Aerogels (ASPN) shares, or 27.6% of the company, up from its prior 21%.

Koch bought 10.5 million shares at $9.50 each, or $100 million, in a November 29 underwritten public offer.

Koch first acquired stock in the company in March, unveiling a 21% stake. Since then, Koch’s built its stake above 25%. Throughout the previous filings, the investors said they acquired the shares for investment purposes.

Koch said it has no plans to seek changes at the company but does plan talks with the company about its finances and operations, “including transactions in which the investors may seek to participate and potentially engage,” it said in the filing.

Aspen shares fell 15 cents, or 1.34% to $11.05 on Wednesday afternoon. The stock is off almost 80% this year and is well below Koch’s entry price in March.

Aspen is a aerogel technology company. The company’s mission is to enable its customers and partners to achieve their objectives around the global megatrends of resource efficiency and sustainability. Aspen’s Cryogel® and Pyrogel® products are valued by the world’s largest energy infrastructure companies.

The company’s carbon aerogel program seeks to increase the performance of lithium-ion battery cells enabling EV OEMs to extend the driving range and reduce the cost of electric vehicles. The company’s strategy is to partner with world-class industry leaders to leverage its aerogel technology platform into additional markets. Headquartered in Northborough, Mass., Aspen manufactures its products at its East Providence, R.I. facility.

What are other large shareholders doing?

Kim, LLC holds 5,254,110 shares representing 7.94% ownership of the company. No change in the last quarter.

Oaktop Capital Management Ii, L.P. holds 3,194,758 shares representing 4.83% ownership of the company. No change in the last quarter.

George Kaiser Family Foundation holds 3,167,322 shares representing 4.79% ownership of the company. No change in the last quarter.

Encompass Capital Advisors LLC holds 2,419,272 shares representing 3.66% ownership of the company. In its prior filing, the firm reported owning 2,725,571 shares, representing a decrease of 12.66%. The firm decreased its portfolio allocation in ASPN by 38.05% over the last quarter.

Telemark Asset Management, LLC holds 2,000,000 shares representing 3.02% ownership of the company. No change in the last quarter.

What is the overall Fund Sentiment?

There are 322 funds or institutions reporting positions in Aspen Aerogels Inc. This is a decrease of 15 owner(s) or 4.45%.

Average portfolio weight of all funds dedicated to Aspen Aerogels Inc is 0.2212%, an increase of 10.6494%. Total shares owned by institutions increased in the last three months by 2.85% to 42,196,426 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and,d in particular, how the company ranks compared to other companies in the investing universe.

Click to see the Fintel Fund Sentiment Score for ASPN / Aspen Aerogels Inc.

This article originally appeared on Fintel

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