CROWD: RED
Active holders jumped 136 to 112 recently (-18% 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
112
of 307 total, index funds excluded
This quarter
+25
48 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
BlackRock, Inc.
$546M
VANGUARD PORTFOLIO MANAGEME…
$271M
ALLIANCEBERNSTEIN L.P.
$172M
VANGUARD CAPITAL MANAGEMENT…
$132M
STATE STREET CORP
$128M
MILLENNIUM MANAGEMENT LLC
$93M
CONGRESS ASSET MANAGEMENT CO
$81M
WESTFIELD CAPITAL MANAGEMEN…
$76M
GEODE CAPITAL MANAGEMENT, L…
$70M
DIMENSIONAL FUND ADVISORS LP
$60M
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.