CROWD: RED
Active holders jumped 26 to 29 recently (12% 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
29
of 83 total, index funds excluded
This quarter
+15
12 out
Conviction
1 bps
median holder weight: token bet
Streak
1q
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 · $175M held
Fund
Value
Note
Artisan Partners Limited Pa…
$31M
UBS Group AG
$23M
CITIGROUP INC
$12M
STATE STREET CORP
$11M
JANE STREET GROUP, LLC
$11M
MANUFACTURERS LIFE INSURANC…
$9M
Defiance ETFs, LLC
$9M
Penserra Capital Management…
$9M
MORGAN STANLEY
$8M
DEUTSCHE BANK AG\
$4M
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.