CROWD: RED
Active holders jumped 665 to 544 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
544
of 806 total, index funds excluded
This quarter
+106
225 out
Conviction
2 bps
median holder weight: token bet
Streak
0q
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 · $17.5B held
Fund
Value
Note
BlackRock, Inc.
$1.4B
VANGUARD PORTFOLIO MANAGEME…
$1.1B
VANGUARD CAPITAL MANAGEMENT…
$861M
FMR LLC
$537M
PRICE T ROWE ASSOCIATES INC…
$512M
DZ BANK AG Deutsche Zentral…
$478M
STATE STREET CORP
$451M
GEODE CAPITAL MANAGEMENT, L…
$373M
AQR CAPITAL MANAGEMENT LLC
$318M
Artisan Partners Limited Pa…
$300M
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.