CROWD: RED
Active holders jumped 50 to 43 recently (-14% 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
43
of 86 total, index funds excluded
This quarter
+10
17 out
Conviction
10 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 · $562M held
Fund
Value
Note
BlackRock, Inc.
$58M
PointState Capital LP
$55M
SAMLYN CAPITAL, LLC
$42M
Aquamarine Financial (Cayma…
$41M
MORGAN STANLEY
$38M
TT International Asset Mana…
$37M
Cape Ann Asset Management L…
$36M
MIRAE ASSET GLOBAL ETFS HOL…
$32M
Route One Investment Compan…
$26M
Itau Unibanco Holding S.A.
$17M
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.