CROWD: RED
Active holders jumped 48 to 70 recently (46% 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
70
of 155 total, index funds excluded
This quarter
+34
12 out
Conviction
3 bps
median holder weight: token bet
Streak
2q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2024Mar 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 · $1.7B held
Fund
Value
Note
Capital World Investors
$418M
BlackRock, Inc.
$113M
VAN ECK ASSOCIATES CORP
$97M
BANK OF AMERICA CORP /DE/
$80M
FIL Ltd
$73M
MILLENNIUM MANAGEMENT LLC
$63M
JPMORGAN CHASE & CO
$61M
TWO SIGMA INVESTMENTS, LP
$56M
JENNISON ASSOCIATES LLC
$50M
MARSHALL WACE, LLP
$44M
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.