CROWD: RED
Active holders jumped 413 to 334 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
334
of 591 total, index funds excluded
This quarter
+79
157 out
Conviction
1 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 · $12.8B held
Fund
Value
Note
BlackRock, Inc.
$1.4B
Linonia Partnership LP
$1.1B
BAMCO INC /NY/
$987M
VANGUARD PORTFOLIO MANAGEME…
$687M
Darsana Capital Partners LP
$598M
VANGUARD CAPITAL MANAGEMENT…
$575M
MASSACHUSETTS FINANCIAL SER…
$452M
STATE STREET CORP
$392M
ROYAL BANK OF CANADA
$305M
Route One Investment Compan…
$277M
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.