CROWD: RED
Active holders jumped 132 to 128 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
128
of 326 total, index funds excluded
This quarter
+33
37 out
Conviction
1 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 · $3.7B held
Fund
Value
Note
BAMCO INC /NY/
$796M
MORGAN STANLEY
$335M
KAYNE ANDERSON RUDNICK INVE…
$333M
BlackRock, Inc.
$223M
Balyasny Asset Management L…
$121M
VANGUARD CAPITAL MANAGEMENT…
$113M
VANGUARD PORTFOLIO MANAGEME…
$111M
Voss Capital, LP
$100M
Boston Trust Walden Corp
$96M
TWO SIGMA INVESTMENTS, LP
$95M
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.