diff --git a/pkg/resources/aws/aws.go b/pkg/resources/aws/aws.go
index 42f95fe783..efee79c7b8 100644
--- a/pkg/resources/aws/aws.go
+++ b/pkg/resources/aws/aws.go
@@ -356,8 +356,16 @@ func ListInstances(cloud fi.Cloud, vpcID, clusterName string) ([]*resources.Reso
 			for _, instance := range reservation.Instances {
 				id := aws.StringValue(instance.InstanceId)
 
+				managedByASG := false
+				for _, tag := range instance.Tags {
+					if fi.ValueOf(tag.Key) == "aws:autoscaling:groupName" {
+						managedByASG = true
+						break
+					}
+				}
+
 				if instance.State != nil {
-					stateName := aws.StringValue(instance.State.Name)
+					stateName := fi.ValueOf(instance.State.Name)
 					switch stateName {
 					case "terminated", "shutting-down":
 						continue
@@ -384,11 +392,13 @@ func ListInstances(cloud fi.Cloud, vpcID, clusterName string) ([]*resources.Reso
 				blocks = append(blocks, "subnet:"+aws.StringValue(instance.SubnetId))
 				blocks = append(blocks, "vpc:"+aws.StringValue(instance.VpcId))
 
+				hasVolumes := false
 				for _, volume := range instance.BlockDeviceMappings {
-					if volume.Ebs == nil {
+					if volume.Ebs == nil || fi.ValueOf(volume.Ebs.DeleteOnTermination) {
 						continue
 					}
 					blocks = append(blocks, "volume:"+aws.StringValue(volume.Ebs.VolumeId))
+					hasVolumes = true
 				}
 				for _, sg := range instance.SecurityGroups {
 					blocks = append(blocks, "security-group:"+aws.StringValue(sg.GroupId))
@@ -396,8 +406,10 @@ func ListInstances(cloud fi.Cloud, vpcID, clusterName string) ([]*resources.Reso
 
 				resourceTracker.Blocks = blocks
 
-				resourceTrackers = append(resourceTrackers, resourceTracker)
-
+				// Track only instances not managed by ASG or with volumes
+				if !managedByASG || hasVolumes {
+					resourceTrackers = append(resourceTrackers, resourceTracker)
+				}
 			}
 		}
 		return true