CROWD: RED
Active holders jumped 209 to 177 recently (-15% 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
177
of 406 total, index funds excluded
This quarter
+41
72 out
Conviction
1 bps
median holder weight: token bet
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 · $4.2B held
Fund
Value
Note
BlackRock, Inc.
$546M
AQR CAPITAL MANAGEMENT LLC
$311M
VANGUARD PORTFOLIO MANAGEME…
$221M
VANGUARD CAPITAL MANAGEMENT…
$188M
STATE STREET CORP
$162M
BBFIT INVESTMENTS PTE LTD
$149M
AMERICAN CENTURY COMPANIES …
$148M
DIMENSIONAL FUND ADVISORS LP
$146M
FMR LLC
$124M
ARROWSTREET CAPITAL, LIMITE…
$120M
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.