CROWD: RED
Active holders jumped 41 to 63 recently (54% 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
63
of 188 total, index funds excluded
This quarter
+28
6 out
Conviction
3 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 · $549M held
Fund
Value
Note
SYSTEMATIC FINANCIAL MANAGE…
$47M
BlackRock, Inc.
$39M
ROYCE & ASSOCIATES LP
$28M
DIMENSIONAL FUND ADVISORS LP
$27M
VANGUARD CAPITAL MANAGEMENT…
$27M
AltraVue Capital, LLC
$27M
WELLINGTON MANAGEMENT GROUP…
$24M
Thrivent Financial for Luth…
$18M
RENAISSANCE TECHNOLOGIES LLC
$15M
Boston Partners
$15M
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.