CROWD: RED
Active holders jumped 1132 to 986 recently. Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
986
of 1267 total, index funds excluded
This quarter
+140
284 out
Conviction
4 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2019Mar 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 · $38.1B held
Fund
Value
Note
BlackRock, Inc.
$4.2B
VANGUARD CAPITAL MANAGEMENT…
$2.2B
VANGUARD PORTFOLIO MANAGEME…
$1.9B
JPMORGAN CHASE & CO
$1.7B
FMR LLC
$1.6B
STATE STREET CORP
$1.2B
MORGAN STANLEY
$1.1B
JENNISON ASSOCIATES LLC
$1.1B
WELLINGTON MANAGEMENT GROUP…
$807M
AQR CAPITAL MANAGEMENT LLC
$741M
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.