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.
Some SEC filings for this period have not finished importing. Holder totals and changes may be incomplete; these filings remain queued for recovery.
Holders:6
Total Value:$949,828
Total Shares:62,530
Institutional Ownership Trend
10 quarters
Holder Concentration
Across 6 13F filers
· Δ vs Jun 30, 2026
Top Holder
43.2%
+21.1 pts
Top 5
98.7%
+35.6 pts
Top 10
100.0%
+15.3 pts
HHI
2,938
Highly concentrated+1,861
Who Holds BITU
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:
36 filers,
like-for-like change +88.4%; actively managed books +93.6%.
Holder type
Share
Filers
Change
New
Exited
Registered adviser
78.0%
21
+91.5%
4
4
Bank
0.1%
1
new
1
0
Holding company
0.1%
1
0.0%
0
0
Exempt adviser
0.0%
0
—
0
0
Unknown
21.8%
13
+78.8%
5
3
Style
Share
Filers
Change
New
Exited
Systematic-like
3.1%
3
+5992.8%
2
0
Concentrated
24.5%
7
+63.3%
1
0
Diversified active
70.7%
25
+98.8%
7
7
Unknown
1.8%
1
-19.1%
0
0
Not measured
0.0%
0
—
0
0
Turnover
Share
Filers
Change
New
Exited
Low turnover
21.5%
18
-2.9%
5
5
Medium turnover
44.7%
6
+184.0%
2
1
High turnover
14.4%
6
+79.4%
2
1
Unknown
19.3%
6
+621.2%
1
0
Not measured
0.0%
0
—
0
0
Holding horizon
Share
Filers
Change
New
Exited
Short horizon
25.1%
8
+91.9%
1
0
Medium horizon
19.3%
6
+113.5%
2
1
Long horizon
52.5%
20
+79.4%
5
5
Unknown
3.1%
2
+93.4%
2
1
Not measured
0.0%
0
—
0
0
13F book size
Share
Filers
Change
New
Exited
Under $1B
43.2%
16
+63.1%
4
2
$1B to $10B
24.9%
13
+54.8%
4
3
$10B to $100B
31.7%
6
+177.6%
1
2
$100B or more
0.1%
1
new
1
0
Not measured
0.0%
0
—
0
0
Client base
Share
Filers
Change
New
Exited
Individuals and high net worth
50.5%
19
+23.0%
3
4
Pooled investment vehicles
24.6%
1
new
1
0
Pension and profit sharing plans
2.9%
1
-1.3%
0
0
Unknown
22.0%
15
+79.4%
6
3
Private funds
Share
Filers
Change
New
Exited
Hedge funds
34.3%
3
+253.4%
1
0
Private equity funds
0.0%
2
-99.5%
0
1
Real estate funds
8.2%
1
0.0%
0
0
Other private funds
3.8%
2
-39.2%
0
1
Mixed private funds
0.0%
0
—
0
0
No private funds
31.6%
13
+160.8%
3
2
Unknown
22.0%
15
+79.4%
6
3
Location
Share
Filers
Change
New
Exited
United States
99.5%
33
+89.0%
9
6
Outside the US
0.5%
3
+14.5%
1
1
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 2 holders with no observed 2026-03-31 13F and 1 holder with no observed 2026-06-30 13F. Compared across CIK changes: Trask Adam Roland continues as Burnham & Co LLC.
Conviction and Crowding
36 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
4
11.1% of filers hold it in their top 10
Mar 31, 2026: 0
Holders above 5%
1
median weight 0.003%
Mar 31, 2026: 0
Crowding
—
shares outstanding is an issuer-wide count, not one listing's
Private-fund advisers
—
of shares outstanding
Institutional ownership
—
shares outstanding is an issuer-wide count, not one listing's
Top 10 holders
80.8%
of 13F shares, Herfindahl 0.106
Active holders
+93.6%
like-for-like share change of active filers
5% stakes on record
0
0 13D, 0 13G
How long holders have held itvalue-weighted 2.9 quarters
Under 1 year 76.7%1 to 3 years 23.3%3 years or more 0.000%Since coverage start 0.000%
Managers in the top fifth by current three-year FundScore alpha were net
buyers of $0
(0 buying, 0 selling).
Fund Ownership of BITU by Fund Type
Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026
Index funds and index ETFs hold 0 shares.
Fund type
Shares
Funds
Index funds
0
0
Index ETFs
0
0
Active ETFs
12,300
1
Active funds
0
0
Unclassified
0
0
All registered funds
12,300
1
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
0
Increased
4
Decreased
0
Sold Out
1
Unchanged
2
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.
