CROWD: RED
Active holders jumped 73 to 103 recently (41% 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
103
of 261 total, index funds excluded
This quarter
+48
18 out
Conviction
2 bps
median holder weight: token bet
Streak
1q
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 · $1.2B held
Fund
Value
Note
BlackRock, Inc.
$132M
STATE STREET CORP
$79M
Equinox Partners Investment…
$57M
D. E. Shaw & Co., Inc.
$57M
HOTCHKIS & WILEY CAPITAL MA…
$56M
TWO SIGMA INVESTMENTS, LP
$52M
Grantham, Mayo, Van Otterlo…
$51M
CHARLES SCHWAB INVESTMENT M…
$39M
GEODE CAPITAL MANAGEMENT, L…
$35M
MILLENNIUM MANAGEMENT LLC
$35M
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.