CROWD: RED
Active holders jumped 46 to 73 recently (59% 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
73
of 215 total, index funds excluded
This quarter
+35
8 out
Conviction
1 bps
median holder weight: token bet
Streak
2q
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 · $628M held
Fund
Value
Note
BlackRock, Inc.
$73M
DIMENSIONAL FUND ADVISORS LP
$41M
VANGUARD CAPITAL MANAGEMENT…
$28M
ACADIAN ASSET MANAGEMENT LLC
$27M
D. E. Shaw & Co., Inc.
$25M
First Eagle Investment Mana…
$24M
AMERICAN CENTURY COMPANIES …
$22M
AQR CAPITAL MANAGEMENT LLC
$21M
STATE STREET CORP
$20M
VANGUARD PORTFOLIO MANAGEME…
$19M
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.