Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.
Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.
Holders:54
Total Value:$88,154,007
Total Shares:1,943,461
Institutional Ownership Trend
11 quarters
Holder Concentration
Across 54 13F filers
· Δ vs Jun 30, 2026
Top Holder
20.6%
+12.1 pts
Top 5
60.4%
+30.2 pts
Top 10
80.6%
+38.9 pts
HHI
979
Broadly held+711
Who Holds BITB
Last 8 quarters through Sep 30, 2026 (filing window open)
Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory
records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book.
The quarter selector does not change this card.
Jun 30, 2026, the newest closed quarter:
273 filers,
like-for-like change -4.0%; actively managed books -2.8%; index-like books -48.5%.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
52.1%
187
-16.6%
15
30
Exempt adviser
0.4%
1
new
1
0
Adviser
0.0%
2
+24.4%
0
0
Bank
13.6%
9
+20.6%
1
0
Broker-dealer
0.1%
1
+18.2%
0
0
Holding company
1.3%
3
-45.6%
0
0
Unknown
32.4%
70
+16.6%
4
15
Style
Share
Filers
Change
New
Exited
Index-like
1.2%
1
-48.5%
0
0
Systematic-like
8.6%
5
-48.5%
2
2
Concentrated
43.3%
91
+1.9%
5
18
Diversified active
46.9%
175
+10.4%
14
24
Unknown
0.0%
1
-91.3%
0
1
Not measured
0.0%
0
—
0
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
56.3%
172
+7.3%
10
25
Medium turnover
23.5%
61
+2.1%
4
9
High turnover
16.8%
17
-32.5%
4
4
Unknown
3.4%
23
-9.4%
3
7
Not measured
0.0%
0
—
0
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
6.5%
27
-5.8%
4
8
Medium horizon
26.3%
71
+5.8%
4
13
Long horizon
56.1%
165
-1.4%
11
23
Unknown
11.1%
10
-28.2%
2
1
Not measured
0.0%
0
—
0
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
36.7%
124
-3.7%
9
28
$1B to $10B
22.4%
88
+17.9%
7
15
$10B to $100B
19.2%
45
-18.9%
3
2
$100B or more
21.6%
16
-6.8%
2
0
Not measured
0.0%
0
—
0
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
29.2%
168
-2.6%
13
29
Pooled investment vehicles
20.2%
7
-32.3%
2
1
Registered funds and BDCs
0.5%
1
-17.5%
0
0
Pension and profit sharing plans
0.4%
3
-1.1%
0
0
Insurance companies
0.3%
1
-4.0%
0
0
Charitable organizations
1.2%
1
+34.4%
0
0
Corporations
0.0%
1
0.0%
0
0
Other investment advisers
0.1%
2
-44.6%
0
0
Diversified
0.2%
3
-18.1%
0
0
Other
0.0%
0
—
0
0
Unknown
47.9%
86
+15.0%
6
15
Private funds
Share
Filers
Change
New
Exited
Hedge funds
13.5%
14
-40.6%
4
2
Private equity funds
0.7%
9
-14.0%
0
0
Venture capital funds
8.7%
4
-0.3%
0
1
Real estate funds
0.6%
7
+37.4%
0
1
Securitized asset funds
0.1%
2
-4.4%
0
0
Other private funds
2.2%
14
+1.5%
1
0
Mixed private funds
0.2%
1
+37.7%
0
0
Private funds, type not stated
0.0%
1
new
1
0
No private funds
26.6%
136
-2.9%
10
26
Unknown
47.5%
85
+14.1%
5
15
Location
Share
Filers
Change
New
Exited
United States
96.6%
262
-5.2%
20
45
Outside the US
3.4%
11
+54.1%
1
0
The Sep 30, 2026 filing window is still open, so its
bar shows only the filers that have filed so far.
How the mix is measured
Shares are 13F common shares restated to today's split basis; options and principal amounts are left out.
The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later
quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type
comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster
current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and
book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none
was. Actively managed books are those measured systematic-like, concentrated or diversified active.
Excluded 5 holders with no observed 2026-03-31 13F and 9 holders with no observed 2026-06-30 13F.
Conviction and Crowding
273 13F filers, quarter ended Jun 30, 2026
Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts
filers with high turnover or that advise private funds on Form ADV.
Conviction holders
10
3.66% of filers hold it in their top 10
Mar 31, 2026: 20
Holders above 5%
2
median weight 0.019%
Mar 31, 2026: 6
Crowding
9.48%
of shares outstanding, 28th percentile
Mar 31, 2026: 11.5%
Private-fund advisers
7.21%
of shares outstanding
Institutional ownership
27.8%
of shares outstanding
Top 10 holders
42.2%
of 13F shares, Herfindahl 0.027
Active holders
-2.8%
like-for-like share change of active filers
5% stakes on record
0
0 13D, 0 13G
How long holders have held itvalue-weighted 7.4 quarters
Under 1 year 11.7%1 to 3 years 88.3%3 years or more 0.000%Since coverage start 0.000%
Managers in the top fifth by current three-year FundScore alpha were net
sellers of $1,372,837
(0 buying, 1 selling).
Estimated Holder Cost Basis
Quarter ended Jun 30, 2026, on that quarter's share basis
Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps
the average cost, so this is what holders paid on average if they traded evenly through each quarter.
Estimated avg cost
$45.41
estimated per share
Mar 31, 2026: $46.16
Quarter-end price
$31.86
implied by 13F values
Estimated gain or loss
-29.8%
price against the estimated cost
Estimated at a loss
96.6%
of costed 13F value
Estimated cost covers 88.1% of the 13F shares; positions
already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.
Fund Ownership of BITB by Fund Type
Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026
Index funds and index ETFs hold 0.00% of shares outstanding.
Fund type
Of shares outstanding
Change
Shares
Funds
Index funds
0.00%
0.00 pp
0
0
Index ETFs
0.00%
0.00 pp
962
1
Active ETFs
0.17%
-0.05 pp
117,651
1
Active funds
0.00%
0.00 pp
0
0
Unclassified
0.00%
0.00 pp
0
0
All registered funds
0.17%
-0.05 pp
118,613
2
How fund types are measured
Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share
positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or
before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have
no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their
advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.
Quarterly Activity
vs Jun 30, 2026
New
9
Increased
17
Decreased
13
Sold Out
6
Unchanged
15
New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.
