CROWD: RED
Active holders jumped 27 to 20 recently (-26% 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
20
of 93 total, index funds excluded
This quarter
+5
11 out
Conviction
13 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2024Mar 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 · $231M held
Fund
Value
Note
H&F Corporate Investors VII…
$64M
ARES MANAGEMENT LLC
$30M
Arini Captial Management Ltd
$25M
PUBLIC INVESTMENT FUND
$21M
Beach Point Capital Managem…
$13M
BlackRock, Inc.
$10M
CPV Partners, LLC
$8M
VANGUARD CAPITAL MANAGEMENT…
$7M
CASPIAN CAPITAL LP
$6M
PRUDENTIAL FINANCIAL INC
$6M
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.