CROWD: RED
Active holders jumped 72 to 76 recently (6% 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
76
of 225 total, index funds excluded
This quarter
+29
25 out
Conviction
1 bps
median holder weight: token bet
Streak
1q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2020Mar 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 · $554M held
Fund
Value
Note
BlackRock, Inc.
$97M
VANGUARD CAPITAL MANAGEMENT…
$49M
VANGUARD PORTFOLIO MANAGEME…
$33M
STATE STREET CORP
$30M
GEODE CAPITAL MANAGEMENT, L…
$27M
Penn Capital Management Com…
$18M
Tao Capital Management LP
$16M
D. E. Shaw & Co., Inc.
$15M
GOLDMAN SACHS GROUP INC
$15M
MORGAN STANLEY
$13M
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.