Smart Money Radar / Tickers / SA

SA Materials

CROWD: RED Active holders jumped 98 to 84 recently (-14% 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
84
of 195 total, index funds excluded
This quarter
+11
25 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)
Jun 23 Mar 26

Top holders

by reported value · $1.3B held
FundValueNote
Kopernik Global Investors, … $208M
VAN ECK ASSOCIATES CORP $185M
Tidal Investments LLC $115M
VANGUARD CAPITAL MANAGEMENT… $73M
CIBC WORLD MARKET INC. $63M
MORGAN STANLEY $55M
ONTARIO TEACHERS PENSION PL… $47M
RAYMOND JAMES FINANCIAL INC $38M
TORONTO DOMINION BANK $30M
Ken Griffin $23M famous whale

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.