CROWD: RED
Active holders jumped 66 to 62 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
62
of 174 total, index funds excluded
This quarter
+18
22 out
Conviction
4 bps
median holder weight: token bet
Streak
0q
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 · $520M held
Fund
Value
Note
No Street GP LP
$48M
BlackRock, Inc.
$45M
Western Standard LLC
$40M
DIMENSIONAL FUND ADVISORS LP
$34M
VANGUARD CAPITAL MANAGEMENT…
$26M
Balyasny Asset Management L…
$24M
AMERICAN CENTURY COMPANIES …
$24M
STATE STREET CORP
$15M
Schonfeld Strategic Advisor…
$14M
GEODE CAPITAL MANAGEMENT, L…
$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.