CROWD: RED
Active holders jumped 56 to 57 recently (2% 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
57
of 131 total, index funds excluded
This quarter
+19
17 out
Conviction
3 bps
median holder weight: token bet
Streak
1q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2023Mar 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 · $804M held
Fund
Value
Note
SCHRODER INVESTMENT MANAGEM…
$141M
FMR LLC
$70M
VANGUARD CAPITAL MANAGEMENT…
$56M
DEUTSCHE BANK AG\
$38M
FIL Ltd
$37M
UBS Group AG
$36M
WELLINGTON MANAGEMENT GROUP…
$31M
Carrhae Capital LLP
$30M
fast money
FEDERATED HERMES, INC.
$23M
Artisan Partners Limited Pa…
$20M
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.