CROWD: RED
Active holders jumped 95 to 116 recently (22% 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
116
of 317 total, index funds excluded
This quarter
+46
25 out
Conviction
1 bps
median holder weight: token bet
Streak
1q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2020Mar 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 · $4.3B held
Fund
Value
Note
FMR LLC
$865M
BlackRock, Inc.
$394M
Capital Research Global Inv…
$392M
Invesco Ltd.
$276M
VANGUARD PORTFOLIO MANAGEME…
$250M
JPMORGAN CHASE & CO
$243M
VANGUARD CAPITAL MANAGEMENT…
$172M
STATE STREET CORP
$165M
Clearbridge Investments, LLC
$90M
GEODE CAPITAL MANAGEMENT, L…
$77M
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.