The cluster is dominated by passive/index fund trimming, likely reflecting index rebalancing or risk reduction rather than a fundamental thesis. The buying side consists of small asset managers with negligible dollar amounts. Monitor next 13F for whether the selling trend continues or reverses.
Executive Summary
Institutional activity in biote Corp. (BTMD) during Q2 2026 was mixed: 9 small buyers accumulated $1.1M in new positions, while 9 larger sellers reduced holdings by $3.1M. The selling was dominated by mega-passive funds (BlackRock, State Street, Geode) trimming or nearly exiting, while buying came from smaller asset managers and passive firms doubling tiny positions. The net $2.0M outflow suggests institutional de-risking rather than a coordinated thesis.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$2.0M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Goldman Sachs | DOUBLED | +114.1% | $407.0K | $271.0K |
| UBS | DOUBLED | +849.3% | $462.0K | $427.0K |
| Susquehanna International Group | DOUBLED | +845% | $195.0K | $180.0K |
| Royal Bank Of Canada | ADD | +82.9% | $22.0K | $13.0K |
| Farther Finance Advisors | DOUBLED | +1691.7% | $393.00 | $376.00 |
| Russell Investments Group | DOUBLED | +205.3% | $33.0K | $25.0K |
| Jones Financial Companies Lllp | DOUBLED | +138.8% | $200.0K | $138.0K |
| Mariner | ADD | +43.9% | $56.0K | $28.0K |
| Allworth Financial | DOUBLED | +849% | $915.00 | $846.00 |
▼ Sellers (9)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Geode | TRIM | -57.7% | $831.0K | -$339.0K |
| JPMorgan | TRIM | -54.9% | $25.0K | -$11.0K |
| BofA | TRIM | -43.3% | $79.0K | -$16.0K |
| Northern Trust | TRIM | -73.5% | $363.0K | -$228.0K |
| BlackRock | NEAR_EXIT | -79% | $2.3M | -$1.7M |
| Bnp Paribas Financial Markets | NEAR_EXIT | -94.8% | $8.0K | -$8.0K |
| Rhumbline Advisers | TRIM | -59.3% | $51.0K | -$22.0K |
| Jacobs Levy Equity Management | TRIM | -71.6% | $204.0K | -$123.0K |
| State Street | NEAR_EXIT | -82.7% | $873.0K | -$661.0K |
Key Facts
- 9 buyers added $1.1M in new holdings; 9 sellers reduced by $3.1M; net outflow of ~$2.0M
- BlackRock nearly exited, cutting 79% of its position (1.74M → 365.9K shares, value -$1.7M)
- State Street nearly exited, cutting 82.7% of its position (647K → 112.2K shares, value -$661K)
- Geode trimmed 57.7% of its position (615.7K → 260.5K shares, value -$339K)
- Largest buyer was UBS, doubling to 244.2K shares (+$427K); Goldman Sachs doubled to 215.4K shares (+$271K)
- All buyer positions are small — total buyer holdings only $1.4M vs seller holdings reduced from $4.4M to $1.7M
Financial Impact
Net institutional outflow of ~$2.0M in Q2 2026, with sellers reducing $3.1M and buyers adding $1.1M. Selling concentrated among mega-passive funds (BlackRock, State Street, Geode, Northern Trust) which collectively cut ~$2.9M.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound or reversed since quarter-end
- Passive fund selling may reflect index composition changes rather than stock-specific concerns
- Buyer positions are too small to signal conviction — total buyer holdings of $1.4M are immaterial for a public company
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-BTMD-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $1.32 $1.07 | ▼ −18.94% | ▼ −18.38% | — |
Sep 18, 2026 5w ago | SC 13G/A | $1.36 $1.09 | ▼ −20.22% | ▼ −20.43% | — |
Jun 2, 2026 20w ago | 8-K | $2.11 $2.17 | ▲ +2.84% | ▲ +3.84% | — |
Apr 3, 2026 29w ago | 8-K | $1.64 $2.11 | ▲ +28.66% | ▲ +19.68% | — |
US Market Status
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