DaveManuel.com · Institutional Ownership · Who Owns It
BADGER METER INC (BMI)
Institutional ownership reported to the SEC as of Q2 2026, across 32 quarters.
489
Reporting holders
$4.9B
Reported value
112.7%
Of shares outstanding
0.3%
Calls
0.3%
Puts
+11
Holder change
Institutions report 32,664,299 shares against 28,986,847 outstanding. Shares only - option lines are excluded, which is why this can be compared with the company at all. The count comes from the cover page of the company's own most recent report, so it is dated when that was filed rather than at quarter end. Over 100% because an adviser and a sub-adviser can both report the same shares, and both are counted.
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| BlackRock, Inc. | $725.9M | 4,892,342 | 0.01% | 8q | -1.2%-$8.8M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $371.7M | 2,504,823 | 0.02% | 2q | +2.2%+$7.9M |
| STATE STREET CORP | $245.0M | 1,651,414 | 0.01% | 31q | +8.3%+$18.8M |
| VANGUARD CAPITAL MANAGEMENT LLC | $195.5M | 1,317,325 | 0.00% | 2q | +1.2%+$2.3M |
| GEODE CAPITAL MANAGEMENT, LLC | $149.6M | 1,008,392 | 0.01% | 31q | +7.4%+$10.3M |
| Impax Asset Management Group plc | $140.3M | 945,694 | 0.91% | new | NEW |
| FIRST TRUST ADVISORS LP | $114.5M | 771,864 | 0.07% | 31q | +37.7%+$31.4M |
| MORGAN STANLEY | $109.8M | 739,882 | 0.01% | 35q | +11.6%+$11.4M |
| Boston Trust Walden Corp | $108.2M | 728,961 | 0.82% | 28q | +37.5%+$29.5M |
| UBS Group AG | $93.4M | 629,411 | 0.01% | 31q | -26.7%-$33.9M |
| Amundi | $87.6M | 590,079 | 0.02% | 18q | +28.5%+$19.4M |
| Pictet Asset Management Holding SA | $85.2M | 574,477 | 0.08% | 12q | +45.7%+$26.7M |
| DIMENSIONAL FUND ADVISORS LP | $76.8M | 517,496 | 0.01% | 31q | -4.2%-$3.4M |
| Invesco Ltd. | $75.0M | 505,343 | 0.01% | 31q | -35.0%-$40.4M |
| NEUBERGER BERMAN GROUP LLC | $74.1M | 499,519 | 0.05% | 10q | +44.1%+$22.7M |
| BANK OF AMERICA CORP /DE/ | $68.3M | 460,602 | 0.00% | 31q | +57.3%+$24.9M |
| JPMORGAN CHASE & CO | $60.5M | 434,707 | 0.00% | 31q | -8.6%-$5.7M |
| NORTHERN TRUST CORP | $56.4M | 380,008 | 0.01% | 31q | +14.3%+$7.0M |
| NORGES BANK | $55.5M | 374,295 | 0.01% | 32q | -22.1%-$15.8M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $49.8M | 335,404 | 0.01% | 31q | +5.0%+$2.4M |
| Van Berkom & Associates Inc. | $49.0M | 330,384 | 1.58% | new | NEW |
| MARSHALL WACE, LLP | $46.3M | 312,146 | 0.04% | 9q | -38.4%-$28.9M |
| GOLDMAN SACHS GROUP INC | $46.3M | 311,866 | 0.00% | 31q | -32.9%-$22.7M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $41.6M | 280,713 | 0.05% | 9q | +6.4%+$2.5M |
| PRICE T ROWE ASSOCIATES INC /MD/ | $41.1M | 276,884 | 0.00% | 31q | +6.2%+$2.4M |
| AMERICAN CAPITAL MANAGEMENT INC | $38.3M | 258,243 | 1.72% | 2q | +39.0%+$10.7M |
| FUNDSMITH INVESTMENT SERVICES LTD. | $37.3M | 251,196 | 0.82% | 3q | +89.4%+$17.6M |
| Rockefeller Capital Management L.P. | $36.1M | 243,204 | 0.06% | 31q | -7.1%-$2.7M |
| Grantham, Mayo, Van Otterloo & Co. LLC | $34.1M | 229,639 | 0.08% | 5q | +12.7%+$3.8M |
| FRANKLIN RESOURCES INC | $33.2M | 223,931 | 0.01% | 15q | +1.2%+$390.1K |
| FEDERATED HERMES, INC. | $31.6M | 212,645 | 0.05% | 12q | +495.3%+$26.3M |
| Legal & General Group Plc | $31.3M | 211,253 | 0.01% | 31q | +4.2%+$1.3M |
| VANGUARD FIDUCIARY TRUST CO | $31.1M | 209,599 | 0.01% | 2q | +1.8%+$564.6K |
| STOREBRAND ASSET MANAGEMENT AS | $31.0M | 209,229 | 0.08% | 26q | +34.5%+$8.0M |
| Sandhill Capital Partners LLC | $29.9M | 201,632 | 2.43% | new | NEW |
| Select Equity Group, L.P. | $29.6M | 199,278 | 0.15% | 19q | +117.0%+$15.9M |
| Bank of New York Mellon Corp | $29.2M | 196,890 | 0.00% | 31q | -4.1%-$1.2M |
| Copeland Capital Management, LLC | $28.3M | 190,906 | 0.58% | 8q | +19090500.0%+$28.3M |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $28.0M | 188,594 | 0.01% | 13q | +37.0%+$7.6M |
| PRINCIPAL FINANCIAL GROUP INC | $27.3M | 183,970 | 0.01% | 31q | +1.9%+$503.6K |
| Belpointe Asset Management LLC | $26.6M | 178,964 | 0.87% | 31q | HELD |
| Fundsmith LLP | $25.9M | 174,627 | 0.19% | 2q | +22.6%+$4.8M |
| TD Asset Management Inc | $25.6M | 172,506 | 0.02% | 2q | -5.2%-$1.4M |
| ENVESTNET ASSET MANAGEMENT INC | $24.8M | 167,310 | 0.01% | 31q | +27.6%+$5.4M |
| Rodgers Brothers Inc. | $23.0M | 155,230 | 2.24% | 31q | +74.0%+$9.8M |
| JUPITER ASSET MANAGEMENT LTD | $23.0M | 154,818 | 0.11% | 4q | +17.8%+$3.5M |
| Tidal Investments LLC | $21.9M | 147,423 | 0.04% | 12q | -9.8%-$2.4M |
| NEEDHAM INVESTMENT MANAGEMENT LLC | $21.5M | 145,000 | 0.65% | 10q | +383.3%+$17.1M |
| DF DENT & CO INC | $21.4M | 143,925 | 0.41% | 4q | -4.6%-$1.0M |
| ROYAL BANK OF CANADA | $20.6M | 138,884 | 0.00% | 31q | -4.8%-$1.0M |
| DekaBank Deutsche Girozentrale | $20.2M | 137,060 | 0.03% | 13q | HELD |
| BRIDGES INVESTMENT MANAGEMENT INC | $20.1M | 135,764 | 0.24% | 9q | +39.4%+$5.7M |
| RAYMOND JAMES FINANCIAL INC | $17.6M | 118,544 | 0.00% | 7q | -8.2%-$1.6M |
| Nuveen, LLC | $17.4M | 117,051 | 0.00% | 6q | -13.4%-$2.7M |
| RHUMBLINE ADVISERS | $16.8M | 113,164 | 0.01% | 31q | -8.1%-$1.5M |
| ProShare Advisors LLC | $16.6M | 112,128 | 0.02% | 31q | +33.4%+$4.2M |
| GABELLI FUNDS LLC | $15.4M | 103,927 | 0.10% | 31q | +0.7%+$108.8K |
| Epoch Investment Partners, Inc. | $15.2M | 102,122 | 0.09% | 2q | +1.2%+$185.5K |
| Public Sector Pension Investment Board | $14.9M | 100,272 | 0.04% | 31q | -4.9%-$771.4K |
| CONGRESS ASSET MANAGEMENT CO | $14.8M | 100,030 | 0.09% | 25q | -2.0%-$306.4K |
| MAIRS & POWER INC | $14.8M | 99,464 | 0.14% | 31q | -5.1%-$794.0K |
| DEUTSCHE BANK AG\ | $14.6M | 98,707 | 0.00% | 34q | +5.0%+$697.5K |
| CITIGROUP INC | $14.4M | 96,937 | 0.00% | 31q | +246.5%+$10.2M |
| GAMCO INVESTORS, INC. ET AL | $14.4M | 96,725 | 0.13% | 31q | -2.0%-$296.8K |
| Allianz Asset Management GmbH | $14.2M | 95,812 | 0.01% | 40q | -23.8%-$4.4M |
| COMMONWEALTH EQUITY SERVICES, LLC | $14.1M | 94,969 | 0.02% | 25q | +8.7%+$1.1M |
| Handelsbanken Fonder AB | $14.0M | 94,029 | 0.04% | 25q | -3.2%-$454.5K |
| CI INVESTMENTS INC. | $13.8M | 92,973 | 0.04% | 12q | +127.2%+$7.7M |
| Granite Investment Partners, LLC | $13.6M | 91,485 | 0.70% | 2q | +49.8%+$4.5M |
| AQR CAPITAL MANAGEMENT LLC | $13.3M | 89,789 | 0.00% | 31q | +94.9%+$6.5M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13.1M incl. $12.1M options CALL+PUT | 6,798 | 0.00% | 31q | -55.9%-$16.6M |
| WELLS FARGO & COMPANY/MN | $12.9M | 86,984 | 0.00% | 31q | +39.4%+$3.6M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $12.7M | 85,820 | 0.00% | 14q | -1.0%-$128.9K |
| EULAV Asset Management | $12.5M | 84,200 | 0.40% | 13q | -7.7%-$1.0M |
| Assenagon Asset Management S.A. | $12.1M | 81,776 | 0.01% | 23q | +454.2%+$9.9M |
| SEGALL BRYANT & HAMILL, LLC | $12.1M | 81,774 | 0.14% | 17q | -5.4%-$698.0K |
| Daventry Group, LP | $11.9M | 80,200 | 8.98% | new | NEW |
| Robeco Schweiz AG | $11.3M | 75,896 | 0.18% | 4q | -46.3%-$9.7M |
| Curi Capital, LLC | $11.2M | 75,739 | 0.17% | 25q | +45.2%+$3.5M |
| Swiss Life Asset Management Ltd | $11.2M | 75,648 | 0.05% | 9q | +6.4%+$673.2K |
| Triodos Investment Management BV | $11.1M | 75,000 | 0.68% | 31q | +15.4%+$1.5M |
| ALPS ADVISORS INC | $10.6M | 71,707 | 0.05% | 12q | -9.1%-$1.1M |
| Vulcan Value Partners, LLC | $10.2M | 68,684 | 0.31% | new | NEW |
| BESSEMER GROUP INC | $9.7M | 65,090 | 0.01% | 13q | -52.2%-$10.5M |
| DUDLEY & SHANLEY, INC. | $9.3M | 63,000 | 1.41% | 3q | -48.4%-$8.8M |
| BROWN CAPITAL MANAGEMENT LLC | $9.2M | 62,218 | 1.85% | 6q | -13.7%-$1.5M |
| Williams Jones Wealth Management, LLC. | $9.1M | 61,596 | 0.10% | new | NEW |
| BANK OF MONTREAL /CAN/ | $8.8M | 59,532 | 0.00% | 31q | +332.5%+$6.8M |
| Swiss National Bank | $8.7M | 58,600 | 0.00% | 31q | +0.7%+$59.4K |
| Balyasny Asset Management L.P. | $8.7M | 58,511 | 0.01% | new | NEW |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $8.4M | 56,724 | 0.00% | 21q | +7734.8%+$8.3M |
| Holocene Advisors, LP | $8.0M | 53,870 | 0.02% | 3q | +123.2%+$4.4M |
| Waverly Advisors, LLC | $8.0M | 53,675 | 0.05% | 9q | -0.7%-$59.4K |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $7.7M | 52,121 | 0.07% | 16q | +20.9%+$1.3M |
| KLP KAPITALFORVALTNING AS | $7.5M | 50,400 | 0.02% | 7q | +12.2%+$816.1K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $7.1M | 47,793 | 0.01% | 31q | -2.2%-$161.1K |
| AMERIPRISE FINANCIAL INC | $6.9M | 46,639 | 0.00% | 31q | -34.3%-$3.6M |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $6.6M | 44,463 | 0.01% | 7q | +16.6%+$941.6K |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $6.5M | 43,550 | 0.02% | 23q | -0.6%-$41.2K |
| D. E. Shaw & Co., Inc. | $6.3M | 42,667 | 0.00% | 31q | +18.3%+$978.9K |
Showing the largest 100 of 489 reported holders.
What the insiders did
Open market purchases and sales reported on Form 4 in the last 180 days. Grants, option exercises and shares surrendered to cover tax are left out: they are compensation rather than a decision to buy or sell. Where a broker filled one order in tranches the lines are summed, because it was one decision.
Officers and directors
| Date | Insider | Role | Side | Shares | Value |
|---|---|---|---|---|---|
| 2026-07-30 | Callahan Edward F. | VP-Engineering | Bought | 751 | $101.6K |
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 128 | $198.7M | 1,603,294 | 13 | 44 | 33 | 0.0% |
| Q2 2026 | 489 | $4.9B | 32,664,299 | 80 | 168 | 160 | 0.5% |
| Q1 2026 | 478 | $4.6B | 30,317,803 | 61 | 180 | 149 | 0.4% |
| Q4 2025 | 492 | $5.2B | 29,631,823 | 42 | 176 | 167 | 0.3% |
| Q3 2025 | 482 | $5.3B | 28,871,057 | 55 | 163 | 187 | 2.9% |
| Q2 2025 | 537 | $7.0B | 28,475,401 | 82 | 167 | 180 | 0.3% |
| Q1 2025 | 500 | $5.4B | 28,090,800 | 65 | 172 | 155 | 0.2% |
| Q4 2024 | 495 | $5.7B | 26,989,540 | 47 | 165 | 151 | 0.4% |
| Q3 2024 | 480 | $5.8B | 26,818,335 | 61 | 154 | 161 | 0.1% |
| Q2 2024 | 452 | $5.0B | 26,867,741 | 65 | 133 | 165 | 0.3% |
| Q1 2024 | 418 | $4.6B | 28,118,718 | 48 | 140 | 135 | 0.2% |
| Q4 2023 | 395 | $4.2B | 27,437,984 | 36 | 130 | 127 | 0.2% |
| Q3 2023 | 376 | $3.8B | 26,268,633 | 53 | 120 | 123 | 0.3% |
| Q2 2023 | 353 | $3.8B | 25,973,778 | 55 | 102 | 125 | 0.1% |
| Q1 2023 | 324 | $3.1B | 25,759,058 | 39 | 91 | 109 | 0.1% |
| Q4 2022 | 309 | $2.7B | 25,195,569 | 51 | 93 | 97 | 0.1% |
| Q3 2022 | 274 | $16.0B | 173,188,156 | 30 | 89 | 93 | 0.0% |
| Q2 2022 | 260 | $14.4B | 177,663,885 | 26 | 80 | 87 | 0.0% |
| Q1 2022 | 278 | $15.3B | 153,606,234 | 43 | 81 | 87 | 0.0% |
| Q4 2021 | 268 | $8.2B | 76,583,185 | 31 | 79 | 87 | 0.0% |
| Q3 2021 | 254 | $14.2B | 140,425,237 | 19 | 73 | 92 | 0.0% |
| Q2 2021 | 246 | $7.0B | 71,562,673 | 27 | 78 | 79 | 0.0% |
| Q1 2021 | 257 | $6.6B | 70,610,039 | 33 | 71 | 103 | 0.1% |
| Q4 2020 | 256 | $9.7B | 100,857,920 | 49 | 70 | 76 | 0.1% |
| Q3 2020 | 215 | $2.4B | 36,025,634 | 18 | 64 | 83 | 0.1% |
| Q2 2020 | 224 | $2.3B | 35,912,974 | 33 | 66 | 78 | 0.3% |
| Q1 2020 | 215 | $2.6B | 48,414,069 | 30 | 71 | 65 | 1.1% |
| Q4 2019 | 208 | $2.7B | 40,458,464 | 23 | 63 | 66 | 1.2% |
| Q3 2019 | 198 | $2.1B | 39,780,431 | 21 | 73 | 46 | 0.3% |
| Q2 2019 | 201 | $2.3B | 38,793,536 | 21 | 64 | 55 | 0.4% |
| Q1 2019 | 221 | $1.9B | 34,230,132 | 38 | 64 | 59 | 0.4% |
| Q4 2018 | 196 | $7.0B | 141,556,955 | 3 | 7 | 1 | 0.0% |