CROWD: RED
Active holders jumped 261 to 217 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
217
of 432 total, index funds excluded
This quarter
+63
106 out
Conviction
1 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2020Mar 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 · $3.1B held
Fund
Value
Note
BlackRock, Inc.
$547M
VANGUARD PORTFOLIO MANAGEME…
$211M
VANGUARD CAPITAL MANAGEMENT…
$194M
MORGAN STANLEY
$185M
STATE STREET CORP
$155M
Defiance ETFs, LLC
$154M
GEODE CAPITAL MANAGEMENT, L…
$108M
JPMORGAN CHASE & CO
$98M
BANK OF AMERICA CORP /DE/
$90M
UBS Group AG
$86M
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.