CROWD: RED
Active holders jumped 62 to 61 recently (-2% 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
61
of 176 total, index funds excluded
This quarter
+20
21 out
Conviction
2 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2022Mar 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 · $280M held
Fund
Value
Note
BlackRock, Inc.
$37M
Encompass Capital Advisors …
$31M
VANGUARD CAPITAL MANAGEMENT…
$22M
Rovida Investment Managemen…
$18M
UBS Group AG
$13M
GEODE CAPITAL MANAGEMENT, L…
$12M
Alyeska Investment Group, L…
$12M
STATE STREET CORP
$10M
EXCHANGE TRADED CONCEPTS, L…
$10M
AWM Investment Company, Inc.
$9M
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.