CROWD: RED
Active holders jumped 84 to 92 recently (10% 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 207 total, index funds excluded
This quarter
+36
27 out
Conviction
2 bps
median holder weight: token bet
Streak
4q
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 · $909M held
Fund
Value
Note
Allianz Asset Management Gm…
$248M
ARES MANAGEMENT LLC
$98M
Legion Partners Asset Manag…
$62M
FIL Ltd
$47M
JPMORGAN CHASE & CO
$31M
VANGUARD CAPITAL MANAGEMENT…
$29M
MASON CAPITAL MANAGEMENT LLC
$23M
NEXPOINT ASSET MANAGEMENT, …
$22M
GAMCO INVESTORS, INC. ET AL
$22M
BlackRock, Inc.
$21M
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.