CROWD: RED
Active holders jumped 232 to 209 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
209
of 442 total, index funds excluded
This quarter
+40
62 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 · $3.0B held
Fund
Value
Note
BlackRock, Inc.
$385M
Capital World Investors
$212M
VANGUARD PORTFOLIO MANAGEME…
$152M
STATE STREET CORP
$140M
VANGUARD CAPITAL MANAGEMENT…
$131M
AQR CAPITAL MANAGEMENT LLC
$119M
AMERICAN CENTURY COMPANIES …
$107M
GOLDMAN SACHS GROUP INC
$105M
MORGAN STANLEY
$95M
DIMENSIONAL FUND ADVISORS LP
$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.