CROWD: RED
Active holders jumped 115 to 172 recently (50% 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 354 total, index funds excluded
This quarter
+69
12 out
Conviction
6 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 · $6.4B held
Fund
Value
Note
BlackRock, Inc.
$831M
T. Rowe Price Investment Ma…
$463M
STATE STREET CORP
$346M
Durable Capital Partners LP
$259M
VANGUARD CAPITAL MANAGEMENT…
$217M
PRICE T ROWE ASSOCIATES INC…
$193M
UBS Group AG
$178M
VANGUARD PORTFOLIO MANAGEME…
$175M
Capital Research Global Inv…
$173M
GEODE CAPITAL MANAGEMENT, L…
$138M
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.