# BITTERROOT CAPITAL ADVISORS LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2110106. Source: https://holderbook.com/funds/2110106-bitterroot-capital-advisors-llc/

- Reported value: $166.0M
- Positions: 53
- Weight of the ten largest: 90.5%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $43.3M | 430,117 | 26.1% | 3 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $30.6M | 139,525 | 18.4% | 3 |
| ISHARES TR | [IQLT](https://holderbook.com/stocks/IQLT/) | $18.8M | 379,823 | 11.3% | 3 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $17.6M | 72,440 | 10.6% | 3 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $16.0M | 128,692 | 9.6% | 3 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $9.4M | 97,395 | 5.7% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $6.8M | 9,134 | 4.1% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $3.4M | 7,900 | 2.0% | 3 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $2.4M | 9,940 | 1.4% | 3 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $2.1M | 3,691 | 1.2% | 2 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $2.1M | 2,929 | 1.2% | 3 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $1.8M | 16,882 | 1.1% | 3 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $1.2M | 18,102 | 0.7% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.2M | 1,611 | 0.7% | 3 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $1.2M | 2,219 | 0.7% | 3 |
| PLAINS GP HLDGS L P | [PAGP](https://holderbook.com/stocks/PAGP/) | $1.0M | 42,059 | 0.6% | 3 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $872.9K | 23,746 | 0.5% | 3 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $863.5K | 5,501 | 0.5% | 3 |
| WESTERN MIDSTREAM PARTNERS L | [WES](https://holderbook.com/stocks/WES/) | $625.7K | 14,298 | 0.4% | 3 |
| MPLX LP | [MPLX](https://holderbook.com/stocks/MPLX/) | $546.6K | 9,703 | 0.3% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $456.0K | 2,279 | 0.3% | 3 |
| SSGA ACTIVE ETF TR | [TOTL](https://holderbook.com/stocks/TOTL/) | $403.2K | 10,215 | 0.2% | 3 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $325.3K | 883 | 0.2% | 3 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $316.1K | 9,496 | 0.2% | 3 |
| FIDELITY WISE ORIGIN BITCOIN | [FBTC](https://holderbook.com/stocks/FBTC/) | $315.0K | 6,170 | 0.2% | 3 |
| INVESCO EXCH TRD SLF IDX FD | [BSCU](https://holderbook.com/stocks/BSCU/) | $252.1K | 15,145 | 0.2% | 3 |
| MAYFAIR GOLD CORP | [MINE](https://holderbook.com/stocks/MINE/) | $245.8K | 100,000 | 0.1% | 1 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $219.4K | 2,648 | 0.1% | 3 |
| INVESCO EXCH TRD SLF IDX FD | [BSCT](https://holderbook.com/stocks/BSCT/) | $198.4K | 10,679 | 0.1% | 3 |
| SCHWAB STRATEGIC TR | [SCHO](https://holderbook.com/stocks/SCHO/) | $190.4K | 7,886 | 0.1% | 3 |
| SABLE OFFSHORE CORP | [SOC](https://holderbook.com/stocks/SOC/) | $147.8K | 48,000 | 0.1% | 3 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $110.6K | 161 | 0.1% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $110.1K | 1,845 | 0.1% | 3 |
| AB ACTIVE ETFS INC | [HYFI](https://holderbook.com/stocks/HYFI/) | $103.8K | 2,781 | 0.1% | 3 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $102.9K | 2,035 | 0.1% | 3 |
| ISHARES TR | [SHV](https://holderbook.com/stocks/SHV/) | $101.8K | 922 | 0.1% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $90.6K | 380 | 0.1% | 3 |
| INVESCO EXCH TRD SLF IDX FD | [BSJT](https://holderbook.com/stocks/BSJT/) | $87.4K | 4,138 | 0.1% | 3 |
| ISHARES INC | [EWC](https://holderbook.com/stocks/EWC/) | $86.3K | 1,497 | 0.1% | 3 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $81.0K | 1,013 | 0.0% | 3 |
| COMMERCE BANCSHARES INC | [CBSH](https://holderbook.com/stocks/CBSH/) | $77.3K | 1,338 | 0.0% | 3 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $72.0K | 1,000 | 0.0% | 1 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $63.5K | 55 | 0.0% | 3 |
| DBX ETF TR | [DBEF](https://holderbook.com/stocks/DBEF/) | $61.3K | 1,122 | 0.0% | 3 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $53.1K | 646 | 0.0% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $45.7K | 110 | 0.0% | 2 |
| INVESCO EXCH TRD SLF IDX FD | [BSJU](https://holderbook.com/stocks/BSJU/) | $25.0K | 970 | 0.0% | 3 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $9.7K | 110 | 0.0% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $7.3K | 52 | 0.0% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.9K | 7 | 0.0% | 3 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $1.9K | 21 | 0.0% | 3 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $960 | 10 | 0.0% | 3 |
| ADVISORSHARES TR | [YOLO](https://holderbook.com/stocks/YOLO/) | $781 | 270 | 0.0% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.6% | +14.8% | -7.2% | 100% |
| Q1 2026 | -1.6% | -4.6% | +3.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $166.0M | 53 |
| Q1 2026 | $164.7M | 60 |
| Q4 2025 | $146.0M | 51 |