Smart Money Radar / Tickers / PONY

PONY Software & Services

CROWD: RED Active holders jumped 68 to 65 recently (-4% 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
65
of 148 total, index funds excluded
This quarter
+21
23 out
Conviction
2 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters

The crowd, 2016 to now

active holders per quarter
2024Mar 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)
Dec 24 Mar 26

Top holders

by reported value · $1.1B held
FundValueNote
FMR LLC $131M
HSG Holding Ltd $100M
VANGUARD CAPITAL MANAGEMENT… $74M
TMT General Partner Ltd $66M
ONTARIO TEACHERS PENSION PL… $61M
Baillie Gifford $60M famous whale
MIRAE ASSET GLOBAL ETFS HOL… $40M
Aspex Management (HK) Ltd $39M
IDG China Venture Capital F… $38M
Lingotto Investment Managem… $31M

Tourists vs true believers

every holder a dot · right = bigger bet in their own book, up = patient money
TOURISTS: small bets, fast churn BELIEVERS: real weight, patient books POSITION WEIGHT IN THE HOLDER'S OWN BOOK (LOG) PATIENCE
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.