CROWD: RED
Active holders jumped 28 to 52 recently (86% 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
52
of 190 total, index funds excluded
This quarter
+31
7 out
Conviction
2 bps
median holder weight: token bet
Streak
3q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2020Mar 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 · $519M held
Fund
Value
Note
BlackRock, Inc.
$52M
DIMENSIONAL FUND ADVISORS LP
$37M
VANGUARD CAPITAL MANAGEMENT…
$29M
AMERICAN CENTURY COMPANIES …
$24M
ACADIAN ASSET MANAGEMENT LLC
$24M
STATE STREET CORP
$19M
TWO SIGMA INVESTMENTS, LP
$19M
JACOBS LEVY EQUITY MANAGEME…
$16M
GEODE CAPITAL MANAGEMENT, L…
$15M
Allspring Global Investment…
$14M
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.