TBN
Energy
CROWD: AMBER
Institutional ownership is building here (4 rising quarters). Not yet crowded, but the quiet phase is ending.
Active holders
28
of 58 total, index funds excluded
Conviction
18 bps
median holder weight: token bet
Streak
4q
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)
Top holders
by reported value · $431M held
| Fund | Value | Note |
|---|
| HITE Hedge Asset Management… |
$104M |
|
| Alberta Investment Manageme… |
$43M |
|
| GILDER GAGNON HOWE & CO LLC |
$42M |
|
| Encompass Capital Advisors … |
$36M |
|
| Yaupon Capital Management LP |
$27M |
|
| UBS Group AG |
$23M |
|
| Ancient Art, L.P. |
$22M |
|
| INGALLS & SNYDER LLC |
$17M |
|
| MANUFACTURERS LIFE INSURANC… |
$12M |
|
| SCS Capital Management LLC |
$10M |
|
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.