CROWD: RED
Active holders jumped 104 to 78 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
78
of 197 total, index funds excluded
This quarter
+10
35 out
Conviction
2 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2020Mar 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 · $2.1B held
Fund
Value
Note
VANGUARD CAPITAL MANAGEMENT…
$297M
PRICE T ROWE ASSOCIATES INC…
$168M
WELLINGTON MANAGEMENT GROUP…
$115M
HSG Holding Ltd
$108M
Baird Financial Group, Inc.
$84M
SCHRODER INVESTMENT MANAGEM…
$84M
VANGUARD FIDUCIARY TRUST CO
$79M
H Capital V GP, L.P.
$74M
RENAISSANCE TECHNOLOGIES LLC
$73M
Nuveen, LLC
$70M
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.