CROWD: RED
Active holders jumped 101 to 107 recently (6% 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
107
of 266 total, index funds excluded
This quarter
+35
28 out
Conviction
2 bps
median holder weight: token bet
Streak
3q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2017Mar 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 · $1.1B held
Fund
Value
Note
BlackRock, Inc.
$205M
VANGUARD CAPITAL MANAGEMENT…
$109M
GEODE CAPITAL MANAGEMENT, L…
$61M
STATE STREET CORP
$59M
Qube Research & Technologie…
$47M
MILLENNIUM MANAGEMENT LLC
$35M
VICTORY CAPITAL MANAGEMENT …
$33M
Balyasny Asset Management L…
$31M
MIRAE ASSET GLOBAL ETFS HOL…
$26M
TWO SIGMA INVESTMENTS, LP
$25M
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.