CROWD: RED
Active holders jumped 44 to 55 recently (25% 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
55
of 186 total, index funds excluded
This quarter
+19
8 out
Conviction
1 bps
median holder weight: token bet
Streak
3q
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 · $421M held
Fund
Value
Note
STATE STREET CORP
$46M
BlackRock, Inc.
$43M
BANK OF AMERICA CORP /DE/
$35M
UBS Group AG
$20M
AMERICAN CENTURY COMPANIES …
$17M
Connor, Clark & Lunn Invest…
$17M
MORGAN STANLEY
$15M
MILLENNIUM MANAGEMENT LLC
$12M
TWO SIGMA INVESTMENTS, LP
$12M
NOMURA ASSET MANAGEMENT INT…
$11M
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.