CROWD: RED
Active holders jumped 62 to 60 recently (-3% 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
60
of 220 total, index funds excluded
This quarter
+25
27 out
Conviction
n/a
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2023Mar 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 · $843M held
Fund
Value
Note
BlackRock, Inc.
$161M
Divisadero Street Capital M…
$83M
Accredited Investors Inc.
$56M
VANGUARD CAPITAL MANAGEMENT…
$48M
STATE STREET CORP
$39M
GEODE CAPITAL MANAGEMENT, L…
$33M
MORGAN STANLEY
$30M
DIMENSIONAL FUND ADVISORS LP
$29M
T. Rowe Price Investment Ma…
$25M
PRICE T ROWE ASSOCIATES INC…
$24M
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.