CROWD: RED
Active holders jumped 135 to 111 recently (-18% 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
111
of 289 total, index funds excluded
This quarter
+29
53 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 · $3.3B held
Fund
Value
Note
BlackRock, Inc.
$443M
FMR LLC
$440M
VANGUARD PORTFOLIO MANAGEME…
$220M
STATE STREET CORP
$152M
Capital International Inves…
$139M
VANGUARD CAPITAL MANAGEMENT…
$130M
SYLEBRA CAPITAL LLC
$116M
Capital World Investors
$104M
AMERIPRISE FINANCIAL INC
$88M
AMERICAN CENTURY COMPANIES …
$84M
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.