CROWD: RED
Active holders jumped 90 to 87 recently (-3% 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
87
of 239 total, index funds excluded
This quarter
+24
27 out
Conviction
5 bps
median holder weight: token bet
Streak
0q
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 · $985M held
Fund
Value
Note
BlackRock, Inc.
$99M
NEUBERGER BERMAN GROUP LLC
$69M
AMERIPRISE FINANCIAL INC
$47M
VANGUARD CAPITAL MANAGEMENT…
$46M
AMERICAN CENTURY COMPANIES …
$37M
STATE STREET CORP
$36M
Driehaus Capital Management…
$31M
NEEDHAM INVESTMENT MANAGEME…
$29M
DIMENSIONAL FUND ADVISORS LP
$28M
Encompass Capital Advisors …
$27M
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.