CROWD: RED
Active holders jumped 91 to 144 recently (58% 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
144
of 338 total, index funds excluded
This quarter
+81
28 out
Conviction
3 bps
median holder weight: token bet
Streak
4q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2019Mar 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 · $4.0B held
Fund
Value
Note
BlackRock, Inc.
$361M
VANGUARD PORTFOLIO MANAGEME…
$320M
FMR LLC
$251M
Legal & General Group Plc
$234M
FIRST TRUST ADVISORS LP
$204M
VANGUARD CAPITAL MANAGEMENT…
$174M
TWO SIGMA INVESTMENTS, LP
$163M
VOYA INVESTMENT MANAGEMENT …
$114M
Capital World Investors
$109M
GEODE CAPITAL MANAGEMENT, L…
$104M
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.