CROWD: RED
Active holders jumped 93 to 90 recently (-3% 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
90
of 250 total, index funds excluded
This quarter
+34
37 out
Conviction
n/a
Streak
0q
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 · $195M held
Fund
Value
Note
BlackRock, Inc.
$39M
VANGUARD CAPITAL MANAGEMENT…
$22M
VANGUARD PORTFOLIO MANAGEME…
$14M
GEODE CAPITAL MANAGEMENT, L…
$12M
STATE STREET CORP
$12M
Pentwater Capital Managemen…
$9M
RENAISSANCE TECHNOLOGIES LLC
$8M
BARCLAYS PLC
$6M
GOLDMAN SACHS GROUP INC
$4M
NORTHERN TRUST CORP
$4M
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.