CROWD: RED
Active holders jumped 286 to 389 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
389
of 643 total, index funds excluded
This quarter
+179
75 out
Conviction
2 bps
median holder weight: token bet
Streak
9q
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 · $14.4B held
Fund
Value
Note
BlackRock, Inc.
$1.9B
VAN ECK ASSOCIATES CORP
$1.5B
STATE STREET CORP
$654M
FMR LLC
$627M
VANGUARD CAPITAL MANAGEMENT…
$589M
VANGUARD PORTFOLIO MANAGEME…
$573M
MIRAE ASSET GLOBAL ETFS HOL…
$542M
ARROWSTREET CAPITAL, LIMITE…
$525M
GEODE CAPITAL MANAGEMENT, L…
$495M
Tidal Investments LLC
$409M
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.