CROWD: RED
Active holders jumped 108 to 94 recently (-13% 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
94
of 259 total, index funds excluded
This quarter
+23
36 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 · $2.1B held
Fund
Value
Note
BlackRock, Inc.
$346M
Pentwater Capital Managemen…
$161M
UBS Group AG
$158M
VANGUARD PORTFOLIO MANAGEME…
$125M
VANGUARD CAPITAL MANAGEMENT…
$97M
CONTINENTAL GENERAL INSURAN…
$96M
COOPER CREEK PARTNERS MANAG…
$89M
STATE STREET CORP
$82M
Turiya Advisors Asia Ltd
$76M
GOLDMAN SACHS GROUP INC
$70M
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.