CROWD: RED
Active holders jumped 16 to 13 recently (-19% 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
13
of 35 total, index funds excluded
This quarter
+2
5 out
Conviction
17 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2021Mar 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 · $69M held
Fund
Value
Note
BRC Group Holdings, Inc.
$29M
AMERIPRISE FINANCIAL INC
$14M
683 Capital Management, LLC
$4M
Hudson Bay Capital Manageme…
$4M
ACADIAN ASSET MANAGEMENT LLC
$4M
HEARTLAND ADVISORS INC
$3M
STONEHILL CAPITAL MANAGEMEN…
$2M
Black Maple Capital Managem…
$1M
Boston Partners
$1M
CHARLES SCHWAB INVESTMENT M…
$706K
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.