CROWD: RED
Active holders jumped 6 to 9 recently (50% 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
9
of 26 total, index funds excluded
This quarter
+4
1 out
Conviction
2 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 · $70M held
Fund
Value
Note
Helikon Investments Ltd
$40M
MIRAE ASSET GLOBAL ETFS HOL…
$15M
MORGAN STANLEY
$5M
PING CAPITAL MANAGEMENT, IN…
$2M
GOLDMAN SACHS GROUP INC
$2M
UBS Group AG
$2M
WEXFORD CAPITAL LP
$1M
fast money
MARSHALL WACE, LLP
$720K
JPMORGAN CHASE & CO
$504K
STATE OF WISCONSIN INVESTME…
$474K
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.