CROWD: RED
Active holders jumped 39 to 68 recently (74% 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
68
of 189 total, index funds excluded
This quarter
+38
9 out
Conviction
5 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 · $736M held
Fund
Value
Note
BlackRock, Inc.
$61M
DIMENSIONAL FUND ADVISORS LP
$36M
SUSQUEHANNA INTERNATIONAL G…
$35M
AMERICAN CENTURY COMPANIES …
$34M
VANGUARD CAPITAL MANAGEMENT…
$33M
ROBOTTI ROBERT
$32M
D. E. Shaw & Co., Inc.
$30M
Ghisallo Capital Management…
$28M
RENAISSANCE TECHNOLOGIES LLC
$27M
SYSTEMATIC FINANCIAL MANAGE…
$26M
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.