CROWD: RED
Active holders jumped 189 to 213 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
213
of 415 total, index funds excluded
This quarter
+85
60 out
Conviction
3 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 · $4.8B held
Fund
Value
Note
FMR LLC
$786M
VANGUARD PORTFOLIO MANAGEME…
$439M
BlackRock, Inc.
$369M
VANGUARD CAPITAL MANAGEMENT…
$226M
SB INVESTMENT ADVISERS (UK)…
$161M
Capital International Inves…
$146M
GEODE CAPITAL MANAGEMENT, L…
$120M
DIMENSIONAL FUND ADVISORS LP
$112M
STATE STREET CORP
$107M
Parsifal Capital Management…
$87M
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.