CROWD: RED
Active holders jumped 372 to 331 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
331
of 572 total, index funds excluded
This quarter
+74
114 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 · $5.8B held
Fund
Value
Note
ALLIANCEBERNSTEIN L.P.
$905M
BlackRock, Inc.
$566M
VANGUARD PORTFOLIO MANAGEME…
$313M
VANGUARD CAPITAL MANAGEMENT…
$291M
FMR LLC
$222M
STATE STREET CORP
$178M
WESTFIELD CAPITAL MANAGEMEN…
$134M
GEODE CAPITAL MANAGEMENT, L…
$128M
MASSACHUSETTS FINANCIAL SER…
$109M
MORGAN STANLEY
$99M
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.