B2gold Corp (BTG) Hedge Fund Ownership (Q1 2026)

Q: Is it too late to buy B2gold Corp (BTG) following the 2026 Q2 hedge fund 13F filings?

As of today, BTG has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the SPY sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), BTG gained +37.4% vs +4.0% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

B2gold Corp (BTG)

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

Smart Money Signals — BTG

Based on 295 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 5 quarters in a row

last 6Q

For 5 consecutive quarters, more hedge funds added BTG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

🏔️

At the ownership peak (100% of max)

100% of all-time peak

295 hedge funds hold BTG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.

📶

Steady growth — +17% more funds vs a year ago

fund count last 6Q

+43 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.

🟡

Slight buying edge — 52% buying

164 buying153 selling

Last quarter: 164 funds bought or added vs 153 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.

⚠️

Fewer new buyers each quarter (-12 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 43 → 63 → 67 → 55. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔒

55% of holders stayed for 2+ years

■ 55% conviction (2yr+) ■ 22% medium ■ 22% new

163 out of 295 hedge funds have held BTG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

📈

Growing discovery — still being found

51 → 43 → 63 → 67 → 55 new funds/Q

New funds entering each quarter: 43 → 63 → 67 → 55. A growing number of institutions are discovering BTG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Veteran-anchored — 63% veterans vs 22% newcomers

■ 63% veterans ■ 14% 1-2yr ■ 22% new

Entry-cohort mix of 318 holders: 201 (63%) are 2+ year veterans, 46 entered 1–2 years ago, and 71 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

🏆

Elite ownership — 47% AUM from top-100 funds

47% from top-100 AUM funds

50 of 290 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in BTG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

3.8

out of 10

Low Exit Risk

Exit risk score 3.8/10 — 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.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	294	288	2.08%
13F Shares	780M	800M	-2.6%
Total Value	$3.02B	$3.57B	-15.45%
New Positions	54	67	-13
Increased Positions	100	117	-17
Closed Positions	48	65	-17
Reduced Positions	99	66	+33
Total Calls	19	17	11.76%
Total Puts	9	10	-10.0%
PUT/CALL Ratio	0.47	0.59	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

294

288

2.08%

13F Shares

780M

800M

-2.6%

Total Value

$3.02B

$3.57B

-15.45%

New Positions

-13

Increased Positions

100

117

-17

Closed Positions

-17

Reduced Positions

+33

Total Calls

11.76%

Total Puts

-10.0%

PUT/CALL Ratio

0.47

0.59

Bullish

Institutional Holders (2026 Q2)

294 + investors

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

QUARTER:

2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 BTG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Global Strategic Management Inc	17.99%	6,230,593	$23.3M
2	Pale Fire Capital SE	17.07%	64,560,777	$241.5M
3	MAC Alpha Capital Management, LP	12.53%	7,226,814	$27.1M
4	Equinox Partners Investment Management LLC	10.62%	6,020,795	$22.6M
5	Extract Advisors LLC	6.27%	6,003,000	$22.5M
6	L1 Capital Pty Ltd	6.14%	48,837,914	$182.7M
7	Condire Management, LP	5.06%	11,571,607	$43.3M
8	Pavaki Capital Management LLC	3.68%	1,160,000	$5.2M
9	McAlvany Wealth Management LLC	3.35%	1,198,966	$4.5M
10	Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.	3.03%	377,800	$1.4M
11	Merk Investments LLC	2.39%	2,000,000	$7.5M
12	Regal Partners Ltd	0.82%	3,953,132	$14.8M
13	Easterly Investment Partners LLC	0.63%	3,321,353	$12.4M
14	Cadence Wealth Management LLC	0.54%	323,855	$1.2M
15	Winmill & CO. Inc	0.39%	475,000	$1.8M
16	Persistent Asset Partners Ltd	0.23%	208,812	$781K
17	Van Eck Associates Corp	0.21%	91,117,587	$340.8M
18	Connor, Clark & Lunn Investment Management Ltd.	0.20%	28,768,407	$107.8M
19	Prelude Capital Management, LLC	0.20%	740,000	$2.8M
20	CoreCommodity Management, LLC	0.20%	267,055	$999K
21	Hussman Strategic Advisors, INC.	0.17%	200,000	$748K
22	PKO Investment Management Joint-Stock Co	0.16%	600,277	$2.2M
23	denkapparat Operations GmbH	0.16%	131,012	$490K
24	Seelaus Asset Management LLC	0.16%	60,308	$226K
25	Worth Venture Partners, LLC	0.15%	17,500	$65K

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 — B2gold Corp (BTG)

What does the Smart Money Trend signal show for BTG?

Buying streak — 5 quarters in a row: For 5 consecutive quarters, more hedge funds added BTG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for BTG?

Slight buying edge — 52% buying: Last quarter: 164 funds bought or added vs 153 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 BTG holders?

Elite ownership — 47% AUM from top-100 funds: 50 of 290 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in BTG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held BTG?

55% of holders stayed for 2+ years: 163 out of 295 hedge funds have held BTG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy B2gold Corp (BTG) following the 2026 Q2 hedge fund 13F filings?

As of today, BTG has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the SPY sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), BTG has gained +37.4% vs +4.0% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near 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.

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B2gold Corp (BTG)

Smart Money Signals — BTG

Buying streak — 5 quarters in a row

At the ownership peak (100% of max)

Steady growth — +17% more funds vs a year ago

Slight buying edge — 52% buying

Fewer new buyers each quarter (-12 vs last Q)

55% of holders stayed for 2+ years

Growing discovery — still being found

Veteran-anchored — 63% veterans vs 22% newcomers

Elite ownership — 47% AUM from top-100 funds

Institutional Sentiment Summary — BTG

Hedge Fund Ownership: BTG

Market Analysis: BTG

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: BTG

Is It Too Late to Buy B2gold Corp (BTG) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: BTG

Statistics: BTG

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — B2gold Corp (BTG)

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