Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in BTG held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Pale Fire Capital SE | 69.7M | $315.9M | +77.4% | 5.192% | 27.76% |
| 2 | TWO SIGMA INVESTMENTS, LP | 43.1M | $195.1M | +79.0% | 3.206% | 0.16% |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 37.0M | $167.9M | — | 2.751% | 0.00% |
| 4 | AMERICAN CENTURY COMPANIES INC | 35.0M | $158.8M | +1.9% | 2.604% | 0.08% |
| 5 | DIMENSIONAL FUND ADVISORS LP | 33.5M | $151.6M | +4.1% | 2.492% | 0.03% |
| 6 | D. E. Shaw & Co., Inc. | 28.2M | $128.0M | -22.1% | 2.102% | 0.12% |
| 7 | MILLENNIUM MANAGEMENT LLC | 23.1M | $104.7M | -0.9% | 1.721% | 0.07% |
| 8 | GOLDMAN SACHS GROUP INC | 22.7M | $102.8M | +137.3% | 1.690% | 0.01% |
| 9 | DEUTSCHE BANK AG\ | 17.1M | $77.4M | +10.7% | 1.273% | 0.03% |
| 10 | Connor, Clark & Lunn Investment Management Ltd. | 15.9M | $72.1M | -7.4% | 1.182% | 0.17% |
| 11 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 15.0M | $67.9M | -5.6% | 1.117% | 0.01% |
| 12 | MORGAN STANLEY | 12.1M | $54.6M | -4.5% | 0.898% | 0.00% |
| 13 | BANK OF AMERICA CORP /DE/ | 12.0M | $54.6M | +9.9% | 0.897% | 0.00% |
| 14 | BANK OF MONTREAL /CAN/ | 11.6M | $52.9M | -11.4% | 0.867% | 0.02% |
| 15 | Condire Management, LP | 11.6M | $52.4M | +2.7% | 0.861% | 5.07% |
| 16 | VANGUARD FIDUCIARY TRUST CO | 11.3M | $51.1M | — | 0.838% | 0.01% |
| 17 | FIL Ltd | 10.1M | $45.8M | -0.1% | 0.750% | 0.04% |
| 18 | First Eagle Investment Management, LLC | 9.7M | $44.1M | -0.1% | 0.722% | 0.06% |
| 19 | TT International Asset Management LTD | 9.5M | $42.9M | +211.0% | 0.705% | 4.68% |
| 20 | Maple Rock Capital Partners Inc. | 8.2M | $37.0M | — | 0.607% | 1.20% |
| 21 | Amundi | 7.5M | $34.1M | -18.5% | 0.561% | 0.01% |
| 22 | Legal & General Group Plc | 7.2M | $32.6M | -0.2% | 0.535% | 0.01% |
| 23 | MACKENZIE FINANCIAL CORP | 7.2M | $32.5M | -12.7% | 0.532% | 0.04% |
| 24 | NATIONAL BANK OF CANADA /FI/ | 7.0M | $31.6M | +53.5% | 0.521% | 0.03% |
| 25 | CITADEL ADVISORS LLC | 6.8M | $30.8M | -0.6% | 0.505% | 0.01% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in BTG — a direct measure of their conviction.
Filings activity in BTG during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 286 | +1.4% | 49.60% | 3.74 pp | $2.80B | 7.0% |
| Q4 2025 | 282 | +1.4% | 53.34% | 1.46 pp | $3.02B | 2.7% |
| Q3 2025 | 278 | +11% | 54.80% | +13.67 pp | $3.10B | +33% |
| Q2 2025 | 251 | +1.6% | 41.13% | +12.81 pp | $2.33B | +45% |
| Q1 2025 | 247 | +5.6% | 28.32% | +7.47 pp | $1.60B | +36% |
| Q4 2024 | 234 | 3.7% | 20.85% | 3.50 pp | $1.18B | 14% |
| Q3 2024 | 243 | 4.0% | 24.35% | 10.27 pp | $1.38B | 30% |
| Q2 2024 | 253 | — | 34.62% | — | $1.96B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying BTG stock.
Based on Q1 2026 13F filings, institutional ownership of B2Gold Corp. stands at 49.6%, held across 286 reporting institutions.
Pale Fire Capital SE is the largest reported institutional holder of BTG, with approximately 69,740,133 shares worth $0.32B as of Q1 2026.
Yes — 4 widely-followed marquee investors appear among the top 25 institutional holders of BTG, including TWO SIGMA INVESTMENTS, LP, MILLENNIUM MANAGEMENT LLC, SUSQUEHANNA INTERNATIONAL GROUP, LLP, CITADEL ADVISORS LLC.
Our composite Smart Money Score for BTG is 52 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
59 institutions opened new positions in BTG during Q1 2026, while 55 fully exited. 134 added to existing positions and 90 trimmed.
BTG institutional ownership fell by 3.74 percentage points quarter-over-quarter, with a net change of +4 holders.
The top 10 institutions account for 52.6% of all reported 13F value in BTG, and the top 25 account for 76.3%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
B2Gold Corp. (BTG) Institutional Ownership