CROWD: RED
Active holders jumped 56 to 51 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
51
of 143 total, index funds excluded
This quarter
+10
14 out
Conviction
1 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 · $397M held
Fund
Value
Note
Alibaba Group Holding Ltd
$79M
ACADIAN ASSET MANAGEMENT LLC
$49M
Krane Funds Advisors LLC
$34M
CAUSEWAY CAPITAL MANAGEMENT…
$23M
Saba Capital Management, L.…
$21M
FIL Ltd
$16M
GOLDMAN SACHS GROUP INC
$15M
WELLINGTON MANAGEMENT GROUP…
$15M
NOMURA ASSET MANAGEMENT INT…
$14M
STATE STREET CORP
$8M
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.