CROWD: RED
Active holders jumped 340 to 270 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
270
of 522 total, index funds excluded
This quarter
+73
143 out
Conviction
1 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2019Mar 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 · $5.3B held
Fund
Value
Note
BlackRock, Inc.
$652M
AMERIPRISE FINANCIAL INC
$485M
MILLENNIUM MANAGEMENT LLC
$289M
VANGUARD PORTFOLIO MANAGEME…
$282M
FMR LLC
$247M
VANGUARD CAPITAL MANAGEMENT…
$229M
STATE STREET CORP
$175M
Contour Asset Management LLC
$159M
JUPITER ASSET MANAGEMENT LTD
$137M
AQR CAPITAL MANAGEMENT LLC
$123M
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.