Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Biote Corp (BTMD)

81 + Investors. Track Smart Money conviction in BTMD. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
3Q ▼
Buyers last Q
53%

Smart Money Signals — BTMD

Based on 82 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds reduced or closed their BTMD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 86% of 3.0Y peak

86% of all-time peak
82 funds currently hold this stock — 86% of the 3.0-year high of 95 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 8% fewer funds vs a year ago

fund count last 6Q
7 fewer hedge funds hold BTMD compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 53% buying

47 buying41 selling
Last quarter: 47 funds bought or added vs 41 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+7 vs last Q)

new funds entering per quarter
Funds opening a new BTMD position: 16 → 11 → 11 → 18. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 30% long-term, 26% new

■ 30% conviction (2yr+) ■ 44% medium ■ 26% new
Of the 82 current holders: 25 (30%) held >2 years, 36 held 1–2 years, and 21 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎

Buying through price weakness — shares -3%, value -52%

Value
-51%
Shares
-2%
Last quarter: funds added -3% more shares while total portfolio value only changed -52%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~18 new funds/quarter

17 → 16 → 11 → 11 → 18 new funds/Q
New funds entering each quarter: 16 → 11 → 11 → 18. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊

Mixed cohorts — 34% veterans, 40% new entrants

■ 34% veterans ■ 26% 1-2yr ■ 40% new
Of 82 current holders: 28 (34%) held 2+ years, 21 held 1–2 years, 33 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅

Strong quality — 20% AUM from major funds

20% from top-100 AUM funds
27 of 82 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.9
out of 10
Low Exit Risk
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BTMD

In 2026 Q1, 47 hedge funds were net buyers of BTMD (18 opened a new position, 29 added to an existing one), while 41 reduced or exited (22 trimmed, 19 sold completely) — a 53% buyer ratio, indicating a slight buying edge. This extends a 3-quarter selling streak, suggesting sustained institutional caution. 20% of total institutional value in BTMD is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 82.

Hedge Fund Ownership: BTMD

How many hedge funds hold BTMD — quarterly history vs. share price
Quarterly hedge fund ownership of BTMD vs. share price

Market Analysis: BTMD

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BTMD

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Biote Corp (BTMD) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much BTMD has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 75d ago
BTMD
+82.2%
XLV
+4.9%

BTMD outperformed XLV by +77.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
BTMD
+24.9%
XLV
+6.0%

Since the filing became public, BTMD outperformed XLV by +18.9% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

14 top-rated funds 1 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
0.8
/ 10
conviction
Hedge Fund Positioning: BTMD
81 + Investors

Track Smart Money conviction in BTMD. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 81 83 -2.41%
13F Shares 15M 16M -2.66%
Total Value $20M $41M -51.79%
New Positions 17 11 +6
Increased Positions 29 32 -3
Closed Positions 19 12 +7
Reduced Positions 22 22 -
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: BTMD

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Valuation Measures Data as of: --

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Enterprise Value --
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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

81 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BTMD. Verified SEC 13F-HR filings.

QUARTER:
Top 25 BTMD holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 325 Capital LLC 2.24% 4,548,127 $6.1M
2 Bandera Partners LLC 1.26% 2,065,482 $2.8M
3 Globeflex Capital L P 0.06% 272,400 $368K
4 Williams & Novak, LLC 0.03% 31,410 $45K
5 Rice Hall James & Associates, LLC 0.02% 250,019 $338K
6 Abel Hall, LLC 0.01% 27,921 $38K
7 Rothschild Wealth LLC 0.00% 35,865 $48K
8 GDS Wealth Management 0.00% 42,789 $58K
9 First Heartland Consultants, Inc. 0.00% 24,500 $33K
10 Bridgeway Capital Management, LLC 0.00% 53,358 $72K
11 Strs Ohio 0.00% 166,300 $225K
12 Jacobs Levy Equity Management, Inc 0.00% 151,049 $204K
13 Zwj Investment Counsel Inc 0.00% 12,746 $17K
14 Renaissance Technologies LLC 0.00% 265,916 $359K
15 Los Angeles Capital Management LLC 0.00% 101,947 $138K
16 Tower Research Capital LLC (TRC) 0.00% 13,361 $18K
17 Man Group plc 0.00% 64,823 $88K
18 O'shaughnessy Asset Management, LLC 0.00% 19,675 $27K
19 Police & Firemen's Retirement System of New Jersey 0.00% 11,110 $15K
20 Ameritas Investment Partners, Inc. 0.00% 2,642 $4K
21 Lazard Asset Management LLC 0.00% 48,943 $66K
22 Vanguard Fiduciary Trust Co 0.00% 157,141 $212K
23 Rhumbline Advisers 0.00% 37,554 $51K
24 BlackRock, Inc. 0.00% 1,739,244 $2.3M
25 Vanguard Capital Management LLC 0.00% 1,113,855 $1.5M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Biote Corp (BTMD)

What does the Smart Money Trend signal show for BTMD?

Selling streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds reduced or closed their BTMD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BTMD?

Slight buying edge — 53% buying: Last quarter: 47 funds bought or added vs 41 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for BTMD holders?

Strong quality — 20% AUM from major funds: 27 of 82 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held BTMD?

Mixed — 30% long-term, 26% new: Of the 82 current holders: 25 (30%) held >2 years, 36 held 1–2 years, and 21 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Is it too late to buy Biote Corp (BTMD) following the 2026 Q1 hedge fund 13F filings?

As of today, BTMD has moved +24.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of +18.9%. Since the quarter end (March 31, 2026), BTMD has gained +82.2% vs +4.9% for XLV. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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