CROWD: RED
Active holders jumped 136 to 147 recently (8% 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
147
of 350 total, index funds excluded
This quarter
+46
34 out
Conviction
3 bps
median holder weight: token bet
Streak
1q
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 · $6.4B held
Fund
Value
Note
BlackRock, Inc.
$856M
CANADA PENSION PLAN INVESTM…
$485M
Gimbel Daniel Scott
$432M
VANGUARD PORTFOLIO MANAGEME…
$363M
Sourcerock Group LLC
$315M
DIMENSIONAL FUND ADVISORS LP
$288M
STATE STREET CORP
$274M
VANGUARD CAPITAL MANAGEMENT…
$257M
AMERICAN CENTURY COMPANIES …
$225M
Orbis Allan Gray Ltd
$151M
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.