Bitterroot Capital Advisors LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Bitterroot Capital Advisors LLC reported 53 stock positions worth $166.0 million. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 26.1% of the portfolio, followed by iShares MSCI USA Quality Fac (QUAL, 18.4%) and iShares MSCI International Q (IQLT, 11.3%). Compared with Q1 2026, it opened 2 new positions, sold out of 9, added to 18 and reduced 7. The biggest buy was iShares MSCI USA Quality Fac (QUAL, shares +0%) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −21%).

Most Recent 13F
Q2 2026
Location
BOZEMAN, MT
CIK
0002110106
Portfolio Value
$166.0M (Q2 2026)
SEC Filing
0002110106-26-000003 ↗ filed Aug 14, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q4 2025: $146.0M Q4 2025 Q1 2026: $164.7M Q1 2026 Q2 2026: $166.0M $166.0M Q2 2026

Holdings 53 stocks · $166.0M
SGOV iShares 0-3 Month Treasury B 26.09% 430,117 $43.3M Reduce -21.3%
QUAL iShares MSCI USA Quality Fac 18.44% 139,525 $30.6M Add +0.0%
IQLT iShares MSCI International Q 11.34% 379,823 $18.8M Add +0.4%
IWD iShares Russell 1000 Value E 10.58% 72,440 $17.6M No change
IWF iShares Russell 1000 Growth 9.63% 128,692 $16.0M No change
IEFA iShares Core MSCI Eafe ETF 5.67% 97,395 $9.4M Add +0.1%
SPY SS SPDR S&P 500 ETF Trust-US 4.11% 9,134 $6.8M Add +2.6%
TSLA Tesla Inc. 2.02% 7,900 $3.4M Reduce -0.9%
VIG Vanguard Dividend Apprec ETF 1.42% 9,940 $2.4M Add +0.1%
MSCI MSCI Inc. 1.25% 3,691 $2.1M Add +0.3%
MDY State Street SPDR S&P Midcap 1.24% 2,929 $2.1M No change
EFA iShares MSCI Eafe ETF 1.06% 16,882 $1.8M No change
EEM iShares MSCI Emerging Market 0.75% 18,102 $1.2M Add +13.3%
IVV iShares Core S&P 500 ETF 0.73% 1,611 $1.2M Add +0.2%
DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND 0.70% 2,219 $1.2M No change
PAGP Plains GP Holdings LP 0.61% 42,059 $1.0M Add +1.7%
EPD Enterprise Products Partners 0.53% 23,746 $873K Add +1.4%
ACWI iShares MSCI Acwi ETF 0.52% 5,501 $863K No change
WES Western Midstream Partners L 0.38% 14,298 $626K Add +9.7%
MPLX MPLX LP 0.33% 9,703 $547K Add +1.9%
NVDA Nvidia Corp. 0.27% 2,279 $456K Reduce -20.0%
TOTL SS Doubleline TR Tact ETF 0.24% 10,215 $403K Add +0.9%
GLD SPDR Gold Shares 0.20% 883 $325K No change
IBIT iShares Bitcoin Trust ETF 0.19% 9,496 $316K No change
FBTC Fidelity Wise Origin Bitcoin 0.19% 6,170 $315K No change
BSCU Invesco Bulletshares 2030 CB 0.15% 15,145 $252K Reduce -8.0%
MINE Mayfair Gold Corp. 0.15% 100,000 $246K New
IEMG iShares Core MSCI Emerging 0.13% 2,648 $219K Add +0.8%
BSCT Invesco Bulletshares 2029 CB 0.12% 10,679 $198K Reduce -47.1%
SCHO Schwab Short-Term US Treas 0.11% 7,886 $190K No change
SOC Sable Offshore Corp. 0.09% 48,000 $148K Add +3100.0%
VOO Vanguard S&P 500 ETF 0.07% 161 $111K No change
VWO Vanguard Ftse Emerging Marke 0.07% 1,845 $110K No change
HYFI AB High Yield ETF filed as AB ACTIVE ETFS INC 0.06% 2,781 $104K Add +1.6%
VTEB Vanguard Tax-Exempt Bond ETF 0.06% 2,035 $103K No change
SHV iShares 0-1 Year Treasury Bo 0.06% 922 $102K No change
AMZN Amazon.com Inc. 0.05% 380 $91K No change
BSJT Invesco Bulletshares 2029 HY 0.05% 4,138 $87K Add +1.6%
EWC iShares MSCI Canada ETF 0.05% 1,497 $86K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.05% 1,013 $81K No change
CBSH Commerce Bancshares Inc. 0.05% 1,338 $77K No change
MO Altria Group Inc. 0.04% 1,000 $72K New
MU Micron Technology Inc. 0.04% 55 $63K Reduce -15.4%
DBEF Xtrackers MSCI Eafe Hedged E 0.04% 1,122 $61K No change
SCZ iShares MSCI Eafe Small-Cap 0.03% 646 $53K No change
UNH Unitedhealth Group Inc. 0.03% 110 $46K Reduce -21.4%
BSJU Invesco Bulletshares 2030 HY 0.02% 970 $25K Add +1.7%
SOLS Solstice Adv Materials Inc. 0.01% 110 $10K No change
C Citigroup Inc. 0.00% 52 $7K No change
META Meta Platforms Inc. Class A 0.00% 7 $4K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.00% 21 $2K No change
BABA Alibaba Group Holding-SP ADR 0.00% 10 $960 No change
YOLO Advisorshares Pure Cannabis 0.00% 270 $781 No change

Portfolio Sells Q1 2026 → Q2 2026
SGOV iShares 0-3 Month Treasury B Reduce -21.3% 26.09% −7.33
BSCT Invesco Bulletshares 2029 CB Reduce -47.1% 0.12% −0.11
HON Honeywell International Inc. Sold out 0.00% −0.06
NVDA Nvidia Corp. Reduce -20.0% 0.27% −0.03
MSFT Microsoft Corp. Sold out 0.00% −0.02
BSCU Invesco Bulletshares 2030 CB Reduce -8.0% 0.15% −0.02
BN Brookfield Corp. Sold out 0.00% −0.01
PYPL PayPal Holdings Inc. Sold out 0.00% −0.01
SPGI S&P Global Inc. Sold out 0.00% −0.01
EQT Eqt Corp. Sold out 0.00% −0.01
KHC The Kraft Heinz Co. Sold out 0.00% −0.00
GIS General Mills Inc. Sold out 0.00% −0.00
SKM SK Telecom Co. Ltd.-Spon ADR Sold out 0.00% −0.00
UNH Unitedhealth Group Inc. Reduce -21.4% 0.03% +0.00
MU Micron Technology Inc. Reduce -15.4% 0.04% +0.02
TSLA Tesla Inc. Reduce -0.9% 2.02% +0.22

Portfolio Buys Q1 2026 → Q2 2026
QUAL iShares MSCI USA Quality Fac Add +0.0% 18.44% +2.19
IQLT iShares MSCI International Q Add +0.4% 11.34% +0.72
SPY SS SPDR S&P 500 ETF Trust-US Add +2.6% 4.11% +0.59
IEFA iShares Core MSCI Eafe ETF Add +0.1% 5.67% +0.32
EEM iShares MSCI Emerging Market Add +13.3% 0.75% +0.20
MINE Mayfair Gold Corp. New 0.15% +0.15
VIG Vanguard Dividend Apprec ETF Add +0.1% 1.42% +0.12
IVV iShares Core S&P 500 ETF Add +0.2% 0.73% +0.09
SOC Sable Offshore Corp. Add +3100.0% 0.09% +0.07
WES Western Midstream Partners L Add +9.7% 0.38% +0.05
MO Altria Group Inc. New 0.04% +0.04
MSCI MSCI Inc. Add +0.3% 1.25% +0.04
IEMG iShares Core MSCI Emerging Add +0.8% 0.13% +0.02
PAGP Plains GP Holdings LP Add +1.7% 0.61% +0.01
HYFI AB High Yield ETF Add +1.6% 0.06% +0.00
BSJT Invesco Bulletshares 2029 HY Add +1.6% 0.05% +0.00
BSJU Invesco Bulletshares 2030 HY Add +1.7% 0.02% +0.00
MPLX MPLX LP Add +1.9% 0.33% −0.00
TOTL SS Doubleline TR Tact ETF Add +0.9% 0.24% −0.00
EPD Enterprise Products Partners Add +1.4% 0.53% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 53$166.0MSGOV, QUAL, IQLT, IWD, IWF
Q1 2026 60$164.7MSGOV, QUAL, IQLT, IWD, IWF
Q4 2025 51$146.0MSGOV, QUAL, IQLT, IWD, IWF