CROWD: RED
Active holders jumped 189 to 172 recently (-9% 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
172
of 338 total, index funds excluded
This quarter
+53
70 out
Conviction
3 bps
median holder weight: token bet
Streak
0q
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 · $5.1B held
Fund
Value
Note
ICONIQ Capital, LLC
$732M
Deer Management Co. LLC
$322M
KAYNE ANDERSON RUDNICK INVE…
$309M
BATTERY MANAGEMENT CORP.
$209M
FMR LLC
$188M
VANGUARD CAPITAL MANAGEMENT…
$170M
VANGUARD PORTFOLIO MANAGEME…
$140M
MILLENNIUM MANAGEMENT LLC
$130M
BlackRock, Inc.
$128M
GENERATION INVESTMENT MANAG…
$111M
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.