CROWD: RED
Active holders jumped 242 to 235 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
235
of 477 total, index funds excluded
This quarter
+70
76 out
Conviction
1 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 · $3.9B held
Fund
Value
Note
BlackRock, Inc.
$410M
VANGUARD PORTFOLIO MANAGEME…
$271M
AQR CAPITAL MANAGEMENT LLC
$191M
VANGUARD CAPITAL MANAGEMENT…
$177M
STATE STREET CORP
$122M
WELLINGTON MANAGEMENT GROUP…
$114M
GEODE CAPITAL MANAGEMENT, L…
$107M
DIMENSIONAL FUND ADVISORS LP
$107M
MASSACHUSETTS FINANCIAL SER…
$101M
FIRST TRUST ADVISORS LP
$87M
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.