CROWD: RED
Active holders jumped 57 to 46 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
46
of 123 total, index funds excluded
This quarter
+12
22 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 · $585M held
Fund
Value
Note
CONTINENTAL GENERAL INSURAN…
$141M
Invesco Ltd.
$43M
Polunin Capital Partners Ltd
$36M
FRANKLIN RESOURCES INC
$35M
MACKENZIE FINANCIAL CORP
$29M
VANGUARD CAPITAL MANAGEMENT…
$29M
BlackRock, Inc.
$27M
MORGAN STANLEY
$22M
TWO SIGMA INVESTMENTS, LP
$22M
ARROWSTREET CAPITAL, LIMITE…
$17M
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.