CROWD: RED
Active holders jumped 95 to 92 recently (-3% 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
92
of 259 total, index funds excluded
This quarter
+22
24 out
Conviction
2 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 · $2.9B held
Fund
Value
Note
Prescott General Partners L…
$608M
Boston Partners
$237M
Gobi Capital LLC
$152M
BECK MACK & OLIVER LLC
$131M
WELLINGTON MANAGEMENT GROUP…
$110M
BlackRock, Inc.
$98M
Universal- Beteiligungs- un…
$98M
DIMENSIONAL FUND ADVISORS LP
$98M
VANGUARD CAPITAL MANAGEMENT…
$90M
Smead Capital Management, I…
$89M
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.