CROWD: RED
Active holders jumped 122 to 162 recently (33% 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
162
of 309 total, index funds excluded
This quarter
+79
39 out
Conviction
6 bps
median holder weight: token bet
Streak
2q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2025Mar 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 · $3.5B held
Fund
Value
Note
FMR LLC
$435M
Ribbit Management Company, …
$382M
JPMORGAN CHASE & CO
$169M
Orland Properties Ltd
$134M
Morgan Creek Capital Manage…
$132M
FRED ALGER MANAGEMENT, LLC
$130M
J Digital 6 LLC
$105M
MORGAN STANLEY
$93M
BIT Capital GmbH
$85M
PRICE T ROWE ASSOCIATES INC…
$76M
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.