Who owns BTZ
Which tracked institutional funds hold BTZ, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See BTZ company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 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
14 tracked funds added or opened BTZ while 18 trimmed or exited it between 2025-Q4 and 2026-Q1 — 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
BTZ’s largest tracked holder by dollar value, SIT INVESTMENT ASSOCIATES INC, sizes it at 1.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 1.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in BTZ 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 2025-Q4 and 2026-Q1, across 155 tracked filers holding BTZ, 66 increased or opened the position and 72 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
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 BTZ between the 2025-Q4 and 2026-Q1 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 4
- Karpus Management, Inc.$1M
- READYSTATE ASSET MANAGEMENT LP$1M
- 1607 Capital Partners, LLC$919K
- Logan Stone Capital, LLC$515K
Full exits 3
- Penserra Capital Management LLC$7M
- PREVAIL INNOVATIVE WEALTH ADVISORS, LLC$988K
- Corient Private Wealth LLC$845K
Largest adds
- Rareview Capital LLC$2M
- WOLVERINE ASSET MANAGEMENT LLC$2M
- Allspring Global Investments Holdings, LLC$1M
- D.A. DAVIDSON & CO.$1M
- FIRST TRUST ADVISORS LP$697K
- Invesco Ltd.$480K
Largest trims
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$42M
- BANK OF AMERICA CORP /DE/$11M
- MORGAN STANLEY$3M
- GUGGENHEIM CAPITAL LLC$2M
- LPL Financial LLC$2M
- Capital Investment Advisors, LLC$2M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| SIT INVESTMENT ASSOCIATES INC added | 6,941,861 | $70M | 19.9% | 2026-Q1 |
| MORGAN STANLEY added | 5,116,716 | $52M | 14.7% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 4,594,698 | $46M | 13.2% | 2026-Q1 |
| GUGGENHEIM CAPITAL LLC trimmed | 1,919,779 | $19M | 5.5% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 1,512,252 | $15M | 4.3% | 2026-Q1 |
| Invesco Ltd. added | 1,114,831 | $11M | 3.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 1,008,333 | $10M | 2.9% | 2026-Q1 |
| LPL Financial LLC trimmed | 867,643 | $9M | 2.5% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 762,220 | $8M | 2.2% | 2026-Q1 |
| Capital Investment Advisors, LLC trimmed | 729,312 | $7M | 2.1% | 2026-Q1 |
| Sowell Financial Services LLC added | 712,301 | $7M | 2.0% | 2026-Q1 |
| Allspring Global Investments Holdings, LLC added | 617,201 | $6M | 1.8% | 2026-Q1 |
| UBS Group AG trimmed | 595,265 | $6M | 1.7% | 2026-Q1 |
| Rareview Capital LLC added | 367,912 | $4M | 1.1% | 2026-Q1 |
| D.A. DAVIDSON & CO. added | 382,991 | $4M | 1.1% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 371,215 | $4M | 1.1% | 2026-Q1 |
| COHEN & STEERS, INC. | 331,022 | $3M | 0.9% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC trimmed | 320,311 | $3M | 0.9% | 2026-Q1 |
| CARY STREET PARTNERS FINANCIAL LLC added | 301,781 | $3M | 0.9% | 2026-Q1 |
| Emissary Wealth LLC added | 279,689 | $3M | 0.8% | 2026-Q1 |
| Smith Asset Management Co., LLC trimmed | 276,288 | $3M | 0.8% | 2026-Q1 |
| Edgemoor Investment Advisors, Inc. trimmed | 257,803 | $3M | 0.7% | 2026-Q1 |
| Thrivent Financial for Lutherans added | 240,311 | $2M | 0.7% | 2026-Q1 |
| Cetera Investment Advisers added | 236,069 | $2M | 0.7% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 209,683 | $2M | 0.6% | 2026-Q1 |
| WOLVERINE ASSET MANAGEMENT LLC added | 194,089 | $2M | 0.6% | 2026-Q1 |
| PRIVATE TRUST CO NA | 134,849 | $1M | 0.4% | 2026-Q1 |
| Advisors Asset Management, Inc. trimmed | 128,229 | $1M | 0.4% | 2026-Q1 |
| Karpus Management, Inc. trimmed | 121,250 | $1M | 0.3% | 2026-Q1 |
| Waterfront Wealth Inc. added | 116,422 | $1M | 0.3% | 2026-Q1 |
| IBEX WEALTH ADVISORS added | 108,640 | $1M | 0.3% | 2026-Q1 |
| Focus Partners Wealth added | 105,820 | $1M | 0.3% | 2026-Q1 |
| READYSTATE ASSET MANAGEMENT LP added | 100,594 | $1M | 0.3% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 97,450 | $984K | 0.3% | 2026-Q1 |
| 1607 Capital Partners, LLC added | 91,026 | $919K | 0.3% | 2026-Q1 |
| Marks Group Wealth Management, Inc trimmed | 89,273 | $902K | 0.3% | 2026-Q1 |
| ELEVATION POINT WEALTH PARTNERS, LLC | 81,558 | $824K | 0.2% | 2026-Q1 |
| Vestmark Advisory Solutions, Inc. trimmed | 81,557 | $824K | 0.2% | 2026-Q1 |
| FELL CAPITAL MANAGEMENT /ADV trimmed | 81,184 | $820K | 0.2% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 77,409 | $782K | 0.2% | 2026-Q1 |
| Shaker Financial Services, LLC added | 76,139 | $769K | 0.2% | 2026-Q1 |
| Rockefeller Capital Management L.P. trimmed | 74,352 | $751K | 0.2% | 2026-Q1 |
| PRINCIPAL SECURITIES, INC. trimmed | 68,937 | $696K | 0.2% | 2026-Q1 |
| Chicago Partners Investment Group LLC | 57,056 | $592K | 0.2% | 2026-Q1 |
| Stolper Co trimmed | 65,772 | $567K | 0.2% | 2026-Q1 |
| Johnson Financial Group, Inc. | 53,707 | $542K | 0.2% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 53,555 | $541K | 0.2% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 52,675 | $532K | 0.2% | 2026-Q1 |
| Alteri Wealth LLC added | 52,152 | $527K | 0.1% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 51,815 | $523K | 0.1% | 2026-Q1 |
| Logan Stone Capital, LLC trimmed | 50,991 | $515K | 0.1% | 2026-Q1 |
| Shulman DeMeo Asset Management LLC trimmed | 50,539 | $510K | 0.1% | 2026-Q1 |
| PIN OAK INVESTMENT ADVISORS INC trimmed | 49,680 | $502K | 0.1% | 2026-Q1 |
| Uncommon Cents Investing LLC added | 46,633 | $471K | 0.1% | 2026-Q1 |
| EP Wealth Advisors, LLC trimmed | 41,787 | $422K | 0.1% | 2026-Q1 |
| WealthShield Partners, LLC trimmed | 41,099 | $415K | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 40,895 | $413K | 0.1% | 2026-Q1 |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 40,534 | $409K | 0.1% | 2026-Q1 |
| Mezzasalma Advisors, LLC added | 36,808 | $372K | 0.1% | 2026-Q1 |
| FLAGSHIP HARBOR ADVISORS, LLC added | 35,455 | $358K | 0.1% | 2026-Q1 |
| Diesslin Group, Inc. trimmed | 34,928 | $353K | 0.1% | 2026-Q1 |
| Noble Wealth Management PBC added | 34,033 | $344K | 0.1% | 2026-Q1 |
| Broyhill Asset Management, LLC | 32,500 | $328K | 0.1% | 2026-Q1 |
| XTX Topco Ltd new | 32,493 | $328K | 0.1% | 2026-Q1 |
| Concurrent Investment Advisors, LLC added | 32,284 | $326K | 0.1% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. | 31,590 | $319K | 0.1% | 2026-Q1 |
| CHOREO, LLC added | 31,440 | $318K | 0.1% | 2026-Q1 |
| Ellis Investment Partners, LLC trimmed | 30,948 | $313K | 0.1% | 2026-Q1 |
| Palogic Value Management, L.P. | 29,366 | $297K | 0.1% | 2026-Q1 |
| Virtu Financial LLC added | 28,280 | $286K | 0.1% | 2026-Q1 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC trimmed | 27,970 | $284K | 0.1% | 2026-Q1 |
| TRUIST FINANCIAL CORP | 27,832 | $281K | 0.1% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 27,440 | $277K | 0.1% | 2026-Q1 |
| Mariner, LLC trimmed | 25,892 | $253K | 0.1% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 24,002 | $242K | 0.1% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 23,234 | $235K | 0.1% | 2026-Q1 |
| NOMURA HOLDINGS INC trimmed | 23,000 | $232K | 0.1% | 2026-Q1 |
| EVERGREEN CAPITAL MANAGEMENT LLC trimmed | 22,955 | $232K | 0.1% | 2026-Q1 |
| Park Edge Advisors, LLC added | 22,356 | $226K | 0.1% | 2026-Q1 |
| SMH CAPITAL ADVISORS INC trimmed | 223 | $223K | 0.1% | 2026-Q1 |
| Mueller Wealth, LLC added | 20,243 | $204K | 0.1% | 2026-Q1 |
| Creekside Partners trimmed | 19,311 | $195K | 0.1% | 2026-Q1 |
| NWAM LLC | 19,267 | $195K | 0.1% | 2026-Q1 |
| Merit Financial Group, LLC added | 18,553 | $187K | 0.1% | 2026-Q1 |
| 180 WEALTH ADVISORS, LLC | 18,416 | $186K | 0.1% | 2026-Q1 |
| BOOTHBAY FUND MANAGEMENT, LLC new | 17,619 | $178K | 0.1% | 2026-Q1 |
| Future Financial Wealth Managment LLC | 17,000 | $177K | 0.1% | 2026-Q1 |
| Penserra Capital Management LLC added | 649,831 | $7M | 2.0% | 2025-Q4 stale |
| Fiera Capital Corp trimmed | 170,957 | $2M | 0.5% | 2025-Q2 stale |
| PREVAIL INNOVATIVE WEALTH ADVISORS, LLC added | 91,191 | $988K | 0.3% | 2025-Q4 stale |
| TRANSCEND CAPITAL ADVISORS, LLC | 83,501 | $895K | 0.3% | 2025-Q1 stale |
| Corient Private Wealth LLC new | 78,006 | $845K | 0.2% | 2025-Q4 stale |
| Wela Strategies, Inc. added | 44,524 | $492K | 0.1% | 2025-Q3 stale |
| RIVERBRIDGE PARTNERS LLC trimmed | 43,627 | $482K | 0.1% | 2025-Q3 stale |
| Generation Capital Management LLC | 42,500 | $456K | 0.1% | 2025-Q1 stale |
| StoneX Group Inc. trimmed | 29,631 | $324K | 0.1% | 2025-Q2 stale |
| Wealthcare Advisory Partners LLC added | 29,467 | $316K | 0.1% | 2025-Q1 stale |
| MGB Wealth Management, LLC | 29,079 | $315K | 0.1% | 2025-Q4 stale |
| Kovitz Investment Group Partners, LLC added | 28,270 | $309K | 0.1% | 2025-Q2 stale |
| Global Retirement Partners, LLC added | 28,357 | $307K | 0.1% | 2025-Q4 stale |
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.