CROWD: RED
Active holders jumped 66 to 71 recently (8% 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
71
of 205 total, index funds excluded
This quarter
+22
17 out
Conviction
4 bps
median holder weight: token bet
Streak
1q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2024Mar 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 · $2.3B held
Fund
Value
Note
BlackRock, Inc.
$196M
Capital International Inves…
$155M
FMR LLC
$155M
LOOMIS SAYLES & CO L P
$86M
PRICE T ROWE ASSOCIATES INC…
$85M
SAMLYN CAPITAL, LLC
$75M
TWO SIGMA INVESTMENTS, LP
$75M
JENNISON ASSOCIATES LLC
$72M
WILLIAM BLAIR INVESTMENT MA…
$70M
ALLIANCEBERNSTEIN L.P.
$66M
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.