CROWD: RED
Active holders jumped 41 to 62 recently (51% 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 171 total, index funds excluded
This quarter
+29
8 out
Conviction
2 bps
median holder weight: token bet
Streak
4q
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 · $5.5B held
Fund
Value
Note
Platinum Equity Advisors, L…
$4.6B
VICTORY CAPITAL MANAGEMENT …
$81M
Capital World Investors
$77M
Lind Value II ApS
$69M
AMERICAN CENTURY COMPANIES …
$49M
River Road Asset Management…
$41M
VANGUARD PORTFOLIO MANAGEME…
$33M
Invenomic Capital Managemen…
$32M
GOLDMAN SACHS GROUP INC
$30M
WELLINGTON MANAGEMENT GROUP…
$30M
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.