CROWD: RED
Active holders jumped 109 to 180 recently (65% 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
180
of 332 total, index funds excluded
This quarter
+108
36 out
Conviction
4 bps
median holder weight: token bet
Streak
1q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2025Mar 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 · $7.1B held
Fund
Value
Note
Allianz Asset Management Gm…
$4.0B
D. E. Shaw & Co., Inc.
$211M
BlackRock, Inc.
$197M
STATE STREET CORP
$148M
VANGUARD CAPITAL MANAGEMENT…
$147M
VANGUARD PORTFOLIO MANAGEME…
$144M
UBS Group AG
$96M
GOLDMAN SACHS GROUP INC
$88M
GEODE CAPITAL MANAGEMENT, L…
$83M
MIRAE ASSET GLOBAL ETFS HOL…
$82M
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.