CROWD: RED
Active holders jumped 148 to 154 recently (4% in one quarter). Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
154
of 373 total, index funds excluded
This quarter
+43
37 out
Conviction
1 bps
median holder weight: token bet
Streak
4q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2016Mar 2026
Holdings as of Mar 31, 2026, filed by May 16, 2026. Counts for the newest quarter keep settling for a few weeks as amendments land.
The tide
funds in (up) vs out (down)
Top holders
by reported value · $3.0B held
Fund
Value
Note
BlackRock, Inc.
$460M
VANGUARD PORTFOLIO MANAGEME…
$232M
FMR LLC
$226M
REINHART PARTNERS, LLC.
$154M
VANGUARD CAPITAL MANAGEMENT…
$129M
Balyasny Asset Management L…
$127M
VICTORY CAPITAL MANAGEMENT …
$119M
STATE STREET CORP
$111M
BNP PARIBAS ASSET MANAGEMEN…
$94M
AMERICAN CENTURY COMPANIES …
$89M
Tourists vs true believers
every holder a dot · right = bigger bet in their own book, up = patient money
Hover any dot for the fund and its bet size. Patience is measured from each filer's actual quarter-to-quarter turnover across our whole database.