CROWD: RED
Active holders jumped 76 to 81 recently (7% 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
81
of 237 total, index funds excluded
This quarter
+25
20 out
Conviction
3 bps
median holder weight: token bet
Streak
2q
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 · $1.5B held
Fund
Value
Note
DIMENSIONAL FUND ADVISORS LP
$140M
Mercuria Capital Strategies…
$130M
fast money
FMR LLC
$122M
BlackRock, Inc.
$111M
AMERICAN CENTURY COMPANIES …
$73M
ACADIAN ASSET MANAGEMENT LLC
$52M
MORGAN STANLEY
$45M
RENAISSANCE TECHNOLOGIES LLC
$41M
Summit Street Capital Manag…
$35M
GEODE CAPITAL MANAGEMENT, L…
$31M
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.