CROWD: RED
Active holders jumped 108 to 131 recently (21% 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
131
of 325 total, index funds excluded
This quarter
+57
34 out
Conviction
4 bps
median holder weight: token bet
Streak
2q
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 · $5.2B held
Fund
Value
Note
BlackRock, Inc.
$718M
Invesco Ltd.
$477M
FMR LLC
$266M
VANGUARD CAPITAL MANAGEMENT…
$217M
STATE STREET CORP
$200M
DIMENSIONAL FUND ADVISORS LP
$181M
AMERICAN CENTURY COMPANIES …
$143M
Zimmer Partners, LP
$139M
GOLDMAN SACHS GROUP INC
$123M
PRICE T ROWE ASSOCIATES INC…
$120M
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.