Vault-13

BADGER METER INC BMI

COM · Common Stock · CUSIP 056525108 · ISIN US0565251081

356 institutional holders +32 vs Q1 2023
25,878,27025.9m shares reported held*
88.3% of all shares outstanding*
$3.8bnreported value*
56 new 111 added 128 reduced 28 sold out net bought ≈ $27.5m (+274.6k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($15.7m this quarter). Holder counts are more reliable. Shares outstanding: 29.3m as of 2023-07-10, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $147.21. Options: 3 managers hold calls ($1.4m notional), 3 hold puts ($752.6k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 283Q4 22: 310Q1 23: 324Q2 23: 356356Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022283
Q4 2022310
Q1 2023324
Q2 2023356

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 155 bought or addedQ4 22: 120 cut or sold outQ4 22Q1 23: 140 bought or addedQ1 23: 146 cut or sold outQ1 23Q2 23: 167 bought or addedQ2 23: 156 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022155120
Q1 2023140146
Q2 2023167156

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 22 calls: $1.8mQ3 22 puts: $1.3mQ3 22P/C 0.75Q4 22 calls: $1.6mQ4 22 puts: $980.4kQ4 22P/C 0.60Q1 23 calls: $1.3mQ1 23 puts: $937.8kQ1 23P/C 0.73Q2 23 calls: $1.4mQ2 23 puts: $752.6kQ2 23P/C 0.52
Numbers
QuarterCallsPutsP/C
Q3 2022$1.8m$1.3m0.75
Q4 2022$1.6m$980.4k0.60
Q1 2023$1.3m$937.8k0.73
Q2 2023$1.4m$752.6k0.52

Biggest buyers

MILLENNIUM MANAGEMENT LLC New +97,387+97.4k
Belpointe Asset Management LLC Added +96,239+96.2k
Man Group plc New +78,084+78.1k
Legal & General Group Plc Added +75,171+75.2k
VANGUARD GROUP INC Added +71,465+71.5k
Nuveen Asset Management, LLC Added +68,139+68.1k
LORD, ABBETT & CO. LLC New +66,000+66.0k
GEODE CAPITAL MANAGEMENT, LLC Added +55,908+55.9k
D. E. Shaw & Co., Inc. Added +55,243+55.2k
FMR LLC Added +53,044+53.0k

Biggest sellers

STATE STREET CORP Reduced -228,503-228.5k
Impax Asset Management Group plc Reduced -122,867-122.9k
BlackRock Inc. Reduced -92,961-93.0k
Man Group plc Sold out -83,982-84.0k
RENAISSANCE TECHNOLOGIES LLC Reduced -49,500-49.5k
JPMORGAN CHASE & CO Reduced -45,016-45.0k
DUFF & PHELPS INVESTMENT MANAGEMENT CO Reduced -42,000-42.0k
Boston Trust Walden Corp Reduced -37,450-37.5k
SG Americas Securities, LLC Reduced -37,396-37.4k
Qube Research & Technologies Ltd Reduced -30,832-30.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $900.1k6.1k shares
CITADEL ADVISORS LLC Reduced $546.0k3.7k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $590.2k4.0k shares
CITADEL ADVISORS LLC Added $162.3k1.1k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution filed 2025-04-30 16.3% 4.8m≈ $709.5m 2025-04-30
VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-28 8.5% new 2.5m≈ $367.6m 2026-04-28
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 5.2% new 1.5m≈ $226.5m 2026-04-29
STATE STREET CORP 13G · institution +0.3 pts · filed 2026-05-12 5.2% +0.3 pts 1.5m≈ $226.3m 2026-05-12

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)

Insider purchases and sales in Q2 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q3 21: 0 buyingQ3 21: 0 sellingQ4 21: 0 buyingQ4 21: 0 sellingQ4 21Q1 22: 0 buyingQ1 22: 3 sellingQ2 22: 0 buyingQ2 22: 0 sellingQ2 22Q3 22: 0 buyingQ3 22: 1 sellingQ4 22: 0 buyingQ4 22: 0 sellingQ4 22Q1 23: 0 buyingQ1 23: 2 sellingQ2 23: 0 buyingQ2 23: 0 sellingQ2 23
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20210—0——
Q4 20210—0——
Q1 20220—3$202.6k—
Q2 20220—0——
Q3 20220—1$227.7k—
Q4 20220—0——
Q1 20230—2$429.1k—
Q2 20230—0——

None reported in Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.02% of their portfolio New York, NY 5,036,8195.0m $743.2m $743.2m 0.02% Reduced -93.0k -92,961
2 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 3,586,5063.6m $529.2m $529.2m 0.01% Added +71.5k +71,465
3 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 1,539,5771.5m $227.2m $227.2m 0.01% Reduced -228.5k -228,503
4 Invesco Ltd. 0.04% of their portfolio ATLANTA, GA 943,326943.3k $139.2m $139.2m 0.04% Added +23.8k +23,789
5 Impax Asset Management Group plc 0.54% of their portfolio LONDON, X0 922,815922.8k $135.5m $135.5m 0.54% Reduced -122.9k -122,867
6 DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio AUSTIN, TX 774,640774.6k $114.3m $114.3m 0.04% Reduced -29.3k -29,255
7 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 733,360733.4k $108.2m $108.2m 0.01% Reduced -45.0k -45,016
8 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.27% of their portfolio LOS ANGELES, CA 650,237650.2k $95.9m $95.9m 0.27% Reduced -14.1k -14,057
9 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 647,701647.7k $95.6m $95.6m 0.01% Added +55.9k +55,908
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 379,118379.1k $55.9m $55.9m 0.01% Added +27.7k +27,656
11 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 361,150361.1k $53.3m $53.3m 0.01% Reduced -6.1k -6,123
12 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 344,212344.2k $50.8m $50.8m 0.01% Added +7.1k +7,113
13 Rockefeller Capital Management L.P. 0.18% of their portfolio NEW YORK, NY 321,614321.6k $47.5m $47.5m 0.18% First filing
14 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 311,255311.3k $37.9m $37.9m 0.02% Unchanged
15 NORGES BANK 0.01% of their portfolio OSLO, Q8 298,220298.2k $44.0m $44.0m 0.01% Added +6.6k +6,581
16 Allianz Asset Management GmbH 0.09% of their portfolio MUNICH, 2M 284,897284.9k $42.0m $42.0m 0.09% Reduced -2.1k -2,124
17 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 265,506265.5k $39.2m $39.2m 0.01% Reduced -2.9k -2,929
18 KBC Group NV 0.15% of their portfolio Brussels, C9 250,142250.1k $36.9m $36.9m 0.15% Added +5.9k +5,857
19 FIRST TRUST ADVISORS LP 0.04% of their portfolio Wheaton, IL 246,777246.8k $36.4m $36.4m 0.04% Added +5.5k +5,485
20 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 235,633235.6k $34.8m $34.8m 0.01% Reduced -26.1k -26,056
21 Boston Trust Walden Corp 0.28% of their portfolio BOSTON, MA 234,166234.2k $34.6m $34.6m 0.28% Reduced -37.5k -37,450
22 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 231,458231.5k $34.2m $34.2m 0.01% Added +68.1k +68,139
23 Driehaus Capital Management LLC 0.42% of their portfolio Chicago, IL 223,700223.7k $33.0m $33.0m 0.42% Reduced -16.6k -16,644
24 Mirae Asset Global Investments Co., Ltd. 0.07% of their portfolio SEOUL, M5 216,972217.0k $32.0m $32.0m 0.07% Added +13.8k +13,763
25 Amundi 0.01% of their portfolio Paris, I0 196,494196.5k $28.9m $28.9m 0.01% Added +3.9k +3,855
26 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 193,538193.5k $28.6m $28.6m 0.01% Added +3.8k +3,832
27 CONGRESS ASSET MANAGEMENT CO 0.24% of their portfolio BOSTON, MA 184,266184.3k $27.2m $27.2m 0.24% Added +3.3k +3,278
28 Belpointe Asset Management LLC 2.80% of their portfolio RENO, NV 179,130179.1k $26.4m $26.4m 2.80% Added +96.2k +96,239
29 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 174,719174.7k $25.8m $25.8m 0.03% Added +50.3k +50,289
30 PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio DES MOINES, IA 169,614169.6k $25.0m $25.0m 0.02% Reduced -9.6k -9,554
31 Legal & General Group Plc 0.01% of their portfolio London, X0 161,198161.2k $23.8m $23.8m 0.01% Added +75.2k +75,171
32 STOREBRAND ASSET MANAGEMENT AS 0.11% of their portfolio LYSAKER, Q8 158,076158.1k $23.3m $23.3m 0.11% Added +1.5k +1,467
33 MAIRS & POWER INC 0.24% of their portfolio St Paul, MN 151,633151.6k $22.4m $22.4m 0.24% Reduced -13.6k -13,600
34 T. Rowe Price Investment Management, Inc. 0.01% of their portfolio BALTIMORE, MD 148,922148.9k $22.0m $22.0m 0.01% Added +10.3k +10,278
35 Triodos Investment Management BV 2.14% of their portfolio DRIEBERGEN-RIJSENBURG, P7 145,000145.0k $21.4m $21.4m 2.14% Reduced -20.0k -20,000
36 FMR LLC 0.00% of their portfolio BOSTON, MA 132,590132.6k $19.6m $19.6m 0.00% Added +53.0k +53,044
37 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 119,298119.3k $17.6m $17.6m 0.01% Added +8.0k +7,989
38 Montanaro Asset Management Ltd 2.64% of their portfolio LONDON, X0 113,000113.0k $16.7m $16.7m 2.64% Added +7.5k +7,500
39 SEGALL BRYANT & HAMILL, LLC 0.17% of their portfolio CHICAGO, IL 112,310112.3k $16.6m $16.6m 0.17% Reduced -27.6k -27,576
40 GABELLI FUNDS LLC 0.12% of their portfolio Rye, NY 111,100111.1k $16.4m $16.4m 0.12% Reduced -3.0k -3,000
41 RHUMBLINE ADVISERS 0.02% of their portfolio BOSTON, MA 107,747107.7k $15.9m $15.9m 0.02% Added +6.9k +6,915
42 GAMCO INVESTORS, INC. ET AL 0.16% of their portfolio GREENWICH, CT 105,000105.0k $15.5m $15.5m 0.16% Reduced -4.3k -4,269
43 NATIXIS ADVISORS, LLC 0.05% of their portfolio Boston, MA 102,619102.6k $15.1m $15.1m 0.05% Reduced -559 -559
44 DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.18% of their portfolio CHICAGO, IL 100,500100.5k $14.8m $14.8m 0.18% Reduced -42.0k -42,000
45 Zurcher Kantonalbank (Zurich Cantonalbank) 0.06% of their portfolio ZURICH, V8 98,34698.3k $14.5m $14.5m 0.06% Reduced -19.2k -19,203
46 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 97,38797.4k $14.4m $14.4m 0.02% New
47 ProShare Advisors LLC 0.04% of their portfolio BETHESDA, MD 95,54095.5k $14.1m $14.1m 0.04% Reduced -14.3k -14,276
48 Rodgers Brothers Inc. 2.41% of their portfolio Harmony, PA 92,94392.9k $13.7m $13.7m 2.41% Reduced -1.4k -1,365
49 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 90,82090.8k $13.4m $13.4m 0.00% Added +17.0k +16,953
50 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 83,86083.9k $12.4m $12.4m 0.00% Reduced -234 -234
51 UniSuper Management Pty Ltd 0.13% of their portfolio Melbourne, Victoria, C3 78,61378.6k $11.6m $11.6m 0.13% First filing
52 Man Group plc 0.04% of their portfolio LONDON, X0 78,08478.1k $11.5m $11.5m 0.04% New
53 ACADIAN ASSET MANAGEMENT LLC 0.05% of their portfolio Boston, MA 75,64075.6k $11.2m $11.2m 0.05% Added +30.9k +30,931
54 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 74,40074.4k $11.0m $11.0m 0.02% Reduced -49.5k -49,500
55 UBS Group AG 0.00% of their portfolio ZURICH, V8 70,98971.0k $10.5m $10.5m 0.00% Added +5.9k +5,870
56 First Personal Financial Services 2.50% of their portfolio CHARLOTTE, NC 68,26868.3k $10.1m $10.1m 2.50% Reduced -2.0k -1,998
57 GREAT LAKES ADVISORS, LLC 0.10% of their portfolio CHICAGO, IL 67,92767.9k $10.0m $10.0m 0.10% Added +2.3k +2,300
58 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 66,00066.0k $9.7m $9.7m 0.02% New
59 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 65,42865.4k $9.7m $9.7m 0.01% Reduced -11.2k -11,177
60 Swiss National Bank 0.01% of their portfolio ZURICH, V8 63,80063.8k $9.4m $9.4m 0.01% Added +700 +700
61 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 63,19263.2k $9.3m $9.3m 0.01% Added +55.2k +55,243
62 Wilmington Savings Fund Society, FSB 0.38% of their portfolio WILMINGTON, DE 62,07562.1k $9.2m $9.2m 0.38% Reduced -4.3k -4,260
63 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 61,59361.6k $9.1m $9.1m 0.01% Added +4.4k +4,381
64 Skandinaviska Enskilda Banken AB (publ) 0.05% of their portfolio STOCKHOLM, V7 55,44055.4k $8.2m $8.2m 0.05% Reduced -10.0k -10,007
65 TUDOR INVESTMENT CORP ET AL 0.13% of their portfolio STAMFORD, CT 54,96855.0k $8.1m $8.1m 0.13% Added +46.6k +46,639
66 Public Sector Pension Investment Board 0.05% of their portfolio MONTREAL, A8 52,03452.0k $7.7m $7.7m 0.05% Added +556 +556
67 AXA S.A. 0.02% of their portfolio PARIS, I0 50,00050.0k $7.4m $7.4m 0.02% Reduced -20.0k -20,000
68 ALGERT GLOBAL LLC 0.31% of their portfolio SAN FRANCISCO, CA 48,57348.6k $7.2m $7.2m 0.31% Added +31.0k +30,964
69 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 46,18846.2k $6.8m $6.8m 0.00% Added +5 +5
70 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 45,28545.3k $6.7m $6.7m 0.00% Reduced -6.8k -6,778
71 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 42,89642.9k $6.3m $6.3m 0.01% Added +12.1k +12,143
72 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 41,14541.1k $6.1m $6.1m 0.00% Reduced -159 -159
73 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio BOSTON, MA 37,48737.5k $5.5m $5.5m 0.01% New
74 CW Advisors, LLC 0.13% of their portfolio BOSTON, MA 37,38537.4k $5.5m $5.5m 0.13% Reduced -196 -196
75 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 37,31237.3k $5.5m $5.5m 0.00% Added +5.0k +5,028
76 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio WEST SACRAMENTO, CA 35,56935.6k $5.2m $5.2m 0.01% Reduced -1.0k -1,032
77 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 34,77334.8k $5.1m $5.1m 0.02% Added +34.3k +34,280
78 Swiss Life Asset Management Ltd 0.08% of their portfolio Zurich, V8 34,50634.5k $5.1m $5.1m 0.08% Added +15.2k +15,192
79 Advisors Asset Management, Inc. 0.10% of their portfolio Monument, CO 33,51633.5k $4.9m $4.9m 0.10% Added +7.2k +7,210
80 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.04% of their portfolio HARRISBURG, PA 33,13733.1k $4.9m $4.9m 0.04% Added +2.1k +2,146
81 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 32,79732.8k $4.8m $4.8m 0.01% Added +3.8k +3,786
82 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 32,40032.4k $4.8m $4.8m 0.01% New
83 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 31,92931.9k $4.7m $4.7m 0.01% Reduced -2.6k -2,594
84 ESSEX INVESTMENT MANAGEMENT CO LLC 0.65% of their portfolio BOSTON, MA 31,30831.3k $4.6m $4.6m 0.65% Reduced -7.2k -7,206
85 BI Asset Management Fondsmaeglerselskab A/S 0.11% of their portfolio KOBENHAVN, G7 31,26231.3k $4.6m $4.6m 0.11% Added +72 +72
86 Global IMC LLC 1.34% of their portfolio SOLANA BEACH, CA 30,90930.9k $4.6m $4.6m 1.34% Reduced -3.7k -3,733
87 Dorsey & Whitney Trust CO LLC 0.37% of their portfolio SIOUX FALLS, SD 30,64830.6k $4.5m $4.5m 0.37% Reduced -1.0k -1,025
88 NORTHSTAR ASSET MANAGEMENT INC 1.33% of their portfolio Boston, MA 30,63930.6k $4.5m $4.5m 1.33% Reduced -273 -273
89 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 30,60030.6k $4.5m $4.5m 0.01% Added +4.7k +4,672
90 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 30,06630.1k $4.4m $4.4m 0.01% Reduced -1.7k -1,651
91 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 28,04428.0k $4.1m $4.1m 0.01% Reduced -962 -962
92 Liontrust Investment Partners LLP 0.06% of their portfolio LONDON, X0 28,00028.0k $4.1m $4.1m 0.06% Reduced -14.0k -14,000
93 Triasima Portfolio Management inc. 0.34% of their portfolio MONTREAL, A8 27,82527.8k $5.4m $5.4m 0.34% Reduced -240 -240
94 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 26,81526.8k $4.0m $4.0m 0.01% Added +8.0k +7,956
95 LOS ANGELES CAPITAL MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 26,67926.7k $3.9m $3.9m 0.02% Added +5.8k +5,846
96 Rathbones Group PLC 0.04% of their portfolio Liverpool, X0 25,47825.5k $3.8m $3.8m 0.04% Reduced -4.1k -4,129
97 TEXAS PERMANENT SCHOOL FUND CORP 0.03% of their portfolio AUSTIN, TX 25,25025.2k $3.7m $3.7m 0.03% Reduced -1.4k -1,433
98 Meiji Yasuda Asset Management Co Ltd. 0.17% of their portfolio Tokyo, M0 23,39423.4k $3.5m $3.5m 0.17% Added +609 +609
99 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 22,60522.6k $3.3m $3.3m 0.00% Reduced -1.4k -1,357
100 XXEC, Inc. 2.44% of their portfolio TULSA, OK 21,66021.7k $3.2m $3.2m 2.44% Reduced -587 -587