Who owns Badger Meter (BMI)
Which tracked institutional funds hold BMI, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See BMI company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
112 tracked funds added or opened BMI while 117 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
BMI’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes BMI more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in BMI divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 449 tracked filers holding BMI, 243 increased or opened the position and 248 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in BMI between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 26
- Impax Asset Management Group plc$140M
- Sandhill Capital Partners LLC$30M
- Daventry Group, LP$12M
- Vulcan Value Partners, LLC$10M
- Williams Jones Wealth Management, LLC.$9M
- BALYASNY ASSET MANAGEMENT L.P.$9M
Full exits 46
- Amundi$70M
- BAMCO INC /NY/$48M
- RENAISSANCE TECHNOLOGIES LLC$30M
- BESSEMER GROUP INC$21M
- DekaBank Deutsche Girozentrale$21M
- MILLENNIUM MANAGEMENT LLC$19M
Largest adds
- BlackRock, Inc.$98M
- FIRST TRUST ADVISORS LP$29M
- Copeland Capital Management, LLC$28M
- Boston Trust Walden Corp$27M
- FEDERATED HERMES, INC.$26M
- Pictet Asset Management Holding SA$25M
Largest trims
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC$40M
- Invesco Ltd.$38M
- UBS Group AG$37M
- MARSHALL WACE, LLP$31M
- GOLDMAN SACHS GROUP INC$25M
- TUDOR INVESTMENT CORP ET AL$16M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 4,892,342 | $726M | 16.7% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 2,504,823 | $372M | 8.6% | 2026-Q2 |
| STATE STREET CORP added | 1,651,414 | $245M | 5.6% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 1,317,325 | $195M | 4.5% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,008,392 | $150M | 3.4% | 2026-Q2 |
| Impax Asset Management Group plc added | 945,694 | $140M | 3.2% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 771,864 | $115M | 2.6% | 2026-Q2 |
| MORGAN STANLEY added | 739,882 | $110M | 2.5% | 2026-Q2 |
| Boston Trust Walden Corp added | 728,961 | $108M | 2.5% | 2026-Q2 |
| UBS Group AG trimmed | 629,411 | $93M | 2.2% | 2026-Q2 |
| Pictet Asset Management Holding SA added | 574,477 | $85M | 2.0% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 517,496 | $77M | 1.8% | 2026-Q2 |
| Invesco Ltd. trimmed | 505,343 | $75M | 1.7% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC added | 499,519 | $74M | 1.7% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 460,602 | $68M | 1.6% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 434,707 | $60M | 1.4% | 2026-Q2 |
| NORTHERN TRUST CORP added | 380,008 | $56M | 1.3% | 2026-Q2 |
| NORGES BANK added | 374,295 | $56M | 1.3% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 335,404 | $50M | 1.1% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 312,146 | $46M | 1.1% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 311,866 | $46M | 1.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 280,713 | $42M | 1.0% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 276,884 | $41M | 0.9% | 2026-Q2 |
| AMERICAN CAPITAL MANAGEMENT INC added | 258,243 | $38M | 0.9% | 2026-Q2 |
| FUNDSMITH INVESTMENT SERVICES LTD. added | 251,196 | $37M | 0.9% | 2026-Q2 |
| Rockefeller Capital Management L.P. trimmed | 243,204 | $36M | 0.8% | 2026-Q2 |
| Grantham, Mayo, Van Otterloo & Co. LLC added | 229,639 | $34M | 0.8% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 223,931 | $33M | 0.8% | 2026-Q2 |
| FEDERATED HERMES, INC. added | 212,645 | $32M | 0.7% | 2026-Q2 |
| Legal & General Group Plc added | 211,253 | $31M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 209,599 | $31M | 0.7% | 2026-Q2 |
| STOREBRAND ASSET MANAGEMENT AS added | 209,229 | $31M | 0.7% | 2026-Q2 |
| XXEC, Inc. added | 204,736 | $26M | 0.6% | 2026-Q2 |
| Sandhill Capital Partners LLC new | 201,632 | $30M | 0.7% | 2026-Q2 |
| Select Equity Group, L.P. added | 199,278 | $30M | 0.7% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 196,890 | $29M | 0.7% | 2026-Q2 |
| Copeland Capital Management, LLC added | 190,906 | $28M | 0.7% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 188,594 | $28M | 0.6% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 183,970 | $27M | 0.6% | 2026-Q2 |
| Belpointe Asset Management LLC added | 178,964 | $27M | 0.6% | 2026-Q2 |
| Fundsmith LLP added | 174,627 | $26M | 0.6% | 2026-Q2 |
| TD Asset Management Inc trimmed | 172,506 | $26M | 0.6% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 167,310 | $25M | 0.6% | 2026-Q2 |
| Rodgers Brothers Inc. added | 155,230 | $23M | 0.5% | 2026-Q2 |
| JUPITER ASSET MANAGEMENT LTD added | 154,818 | $23M | 0.5% | 2026-Q2 |
| Tidal Investments LLC trimmed | 147,423 | $22M | 0.5% | 2026-Q2 |
| NEEDHAM INVESTMENT MANAGEMENT LLC added | 145,000 | $22M | 0.5% | 2026-Q2 |
| DF DENT & CO INC trimmed | 143,925 | $21M | 0.5% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 138,884 | $21M | 0.5% | 2026-Q2 |
| BRIDGES INVESTMENT MANAGEMENT INC added | 135,764 | $20M | 0.5% | 2026-Q2 |
| Allianz Asset Management GmbH | 125,717 | $19M | 0.4% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 118,544 | $18M | 0.4% | 2026-Q2 |
| Nuveen, LLC trimmed | 117,051 | $17M | 0.4% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 113,164 | $17M | 0.4% | 2026-Q2 |
| ProShare Advisors LLC added | 112,128 | $17M | 0.4% | 2026-Q2 |
| GABELLI FUNDS LLC added | 103,927 | $15M | 0.4% | 2026-Q2 |
| Epoch Investment Partners, Inc. added | 102,122 | $15M | 0.3% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 100,272 | $15M | 0.3% | 2026-Q2 |
| CONGRESS ASSET MANAGEMENT CO trimmed | 100,030 | $15M | 0.3% | 2026-Q2 |
| MAIRS & POWER INC trimmed | 99,464 | $15M | 0.3% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 98,707 | $15M | 0.3% | 2026-Q2 |
| CITIGROUP INC added | 96,937 | $14M | 0.3% | 2026-Q2 |
| GAMCO INVESTORS, INC. ET AL trimmed | 96,725 | $14M | 0.3% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 94,969 | $14M | 0.3% | 2026-Q2 |
| CI INVESTMENTS INC. added | 92,973 | $14M | 0.3% | 2026-Q2 |
| Granite Investment Partners, LLC added | 91,485 | $14M | 0.3% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 89,789 | $13M | 0.3% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 86,984 | $13M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 85,820 | $13M | 0.3% | 2026-Q2 |
| EULAV Asset Management trimmed | 84,200 | $12M | 0.3% | 2026-Q2 |
| SEGALL BRYANT & HAMILL, LLC added | 81,774 | $12M | 0.3% | 2026-Q2 |
| Daventry Group, LP new | 80,200 | $12M | 0.3% | 2026-Q2 |
| Robeco Schweiz AG trimmed | 75,896 | $11M | 0.3% | 2026-Q2 |
| Curi Capital, LLC added | 75,739 | $11M | 0.3% | 2026-Q2 |
| Swiss Life Asset Management Ltd added | 75,648 | $11M | 0.3% | 2026-Q2 |
| Triodos Investment Management BV added | 75,000 | $11M | 0.3% | 2026-Q2 |
| ALPS ADVISORS INC trimmed | 71,707 | $11M | 0.2% | 2026-Q2 |
| Vulcan Value Partners, LLC new | 68,684 | $10M | 0.2% | 2026-Q2 |
| DUDLEY & SHANLEY, INC. trimmed | 63,000 | $9M | 0.2% | 2026-Q2 |
| BROWN CAPITAL MANAGEMENT LLC trimmed | 62,218 | $9M | 0.2% | 2026-Q2 |
| Williams Jones Wealth Management, LLC. new | 61,596 | $9M | 0.2% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ added | 59,532 | $9M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 58,600 | $9M | 0.2% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 58,511 | $9M | 0.2% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 56,724 | $8M | 0.2% | 2026-Q2 |
| Holocene Advisors, LP added | 53,870 | $8M | 0.2% | 2026-Q2 |
| Waverly Advisors, LLC trimmed | 53,675 | $8M | 0.2% | 2026-Q2 |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO added | 52,121 | $8M | 0.2% | 2026-Q2 |
| KLP KAPITALFORVALTNING AS added | 50,400 | $7M | 0.2% | 2026-Q2 |
| Zurcher Kantonalbank (Zurich Cantonalbank) trimmed | 47,793 | $7M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 46,639 | $7M | 0.2% | 2026-Q2 |
| Universal- Beteiligungs- und Servicegesellschaft mbH added | 44,463 | $7M | 0.2% | 2026-Q2 |
| TEACHER RETIREMENT SYSTEM OF TEXAS trimmed | 43,550 | $6M | 0.1% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 42,667 | $6M | 0.1% | 2026-Q2 |
| Meiji Yasuda Asset Management Co Ltd. added | 42,485 | $6M | 0.1% | 2026-Q2 |
| Assenagon Asset Management S.A. added | 40,888 | $6M | 0.1% | 2026-Q2 |
| Candriam S.C.A. trimmed | 40,360 | $6M | 0.1% | 2026-Q2 |
| ALTA CAPITAL MANAGEMENT LLC/ trimmed | 40,185 | $6M | 0.1% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 40,120 | $6M | 0.1% | 2026-Q2 |
| MIROVA | 39,132 | $6M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.