CROWD: RED
Active holders jumped 81 to 116 recently (43% 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
116
of 243 total, index funds excluded
This quarter
+51
15 out
Conviction
2 bps
median holder weight: token bet
Streak
1q
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 · $982M held
Fund
Value
Note
BlackRock, Inc.
$130M
NOMURA ASSET MANAGEMENT INT…
$96M
MORGAN STANLEY
$89M
Robeco Institutional Asset …
$79M
MILLENNIUM MANAGEMENT LLC
$40M
GREAT LAKES ADVISORS, LLC
$35M
Creative Planning
$30M
TWO SIGMA INVESTMENTS, LP
$25M
D. E. Shaw & Co., Inc.
$18M
BNP PARIBAS FINANCIAL MARKE…
$18M
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.