Bitterroot Capital Advisors LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Bitterroot Capital Advisors LLC reported 60 stock positions worth $164.7 million. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 33.4% of the portfolio, followed by iShares MSCI USA Quality Fac (QUAL, 16.2%) and iShares MSCI International Q (IQLT, 10.6%). Compared with Q4 2025, it opened 10 new positions, sold out of 1, added to 19 and reduced 4. The biggest buy was iShares 0-3 Month Treasury B (SGOV, shares +55%) and the biggest sale Invesco Bulletshares 2030 HY (BSJU, shares −87%).

Most Recent 13F
Q2 2026
Location
BOZEMAN, MT
CIK
0002110106
Portfolio Value
$164.7M (Q1 2026)
SEC Filing
0002110106-26-000002 ↗ filed May 12, 2026

Holdings Value

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

Holdings 60 stocks · $164.7M
SGOV iShares 0-3 Month Treasury B 33.41% 546,680 $55.0M Add +54.5%
QUAL iShares MSCI USA Quality Fac 16.25% 139,516 $26.8M Add +0.1%
IQLT iShares MSCI International Q 10.61% 378,163 $17.5M Add +0.1%
IWD iShares Russell 1000 Value E 9.40% 72,440 $15.5M Add +0.2%
IWF iShares Russell 1000 Growth 8.33% 32,173 $13.7M Add +0.1%
IEFA iShares Core MSCI Eafe ETF 5.35% 97,292 $8.8M Add +0.1%
SPY SS SPDR S&P 500 ETF Trust-US 3.51% 8,900 $5.8M Add +0.2%
TSLA Tesla Inc. 1.80% 7,975 $3.0M Add +0.9%
VIG Vanguard Dividend Apprec ETF 1.30% 9,925 $2.1M Add +0.1%
MSCI MSCI Inc. 1.20% 3,681 $2.0M New
MDY State Street SPDR S&P Midcap 1.10% 2,929 $1.8M No change
EFA iShares MSCI Eafe ETF 1.00% 16,882 $1.6M No change
IVV iShares Core S&P 500 ETF 0.64% 1,608 $1.1M Add +0.2%
DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND 0.62% 2,219 $1.0M No change
PAGP Plains GP Holdings LP 0.61% 41,354 $1.0M Add +1.9%
EEM iShares MSCI Emerging Market 0.55% 15,977 $907K No change
EPD Enterprise Products Partners 0.54% 23,416 $886K Add +1.5%
ACWI iShares MSCI Acwi ETF 0.46% 5,501 $761K No change
MPLX MPLX LP 0.33% 9,518 $543K Add +1.9%
WES Western Midstream Partners L 0.33% 13,038 $537K Add +2.1%
NVDA Nvidia Corp. 0.30% 2,849 $497K Add +0.7%
TOTL SS Doubleline TR Tact ETF 0.24% 10,120 $402K Add +0.6%
GLD SPDR Gold Shares 0.23% 883 $380K No change
BSCT Invesco Bulletshares 2029 CB 0.23% 20,194 $377K Add +0.6%
IBIT iShares Bitcoin Trust ETF 0.22% 9,496 $365K No change
FBTC Fidelity Wise Origin Bitcoin 0.22% 6,170 $364K No change
BSCU Invesco Bulletshares 2030 CB 0.17% 16,460 $275K Reduce -25.9%
SCHO Schwab Short-Term US Treas 0.12% 7,886 $191K No change
IEMG iShares Core MSCI Emerging 0.11% 2,628 $183K No change
SHV iShares 0-1 Year Treasury Bo 0.06% 922 $102K No change
HYFI AB High Yield ETF filed as AB ACTIVE ETFS INC 0.06% 2,736 $102K Add +1.8%
VTEB Vanguard Tax-Exempt Bond ETF 0.06% 2,035 $102K No change
HON Honeywell International Inc. 0.06% 443 $100K No change
VWO Vanguard Ftse Emerging Marke 0.06% 1,845 $100K No change
VOO Vanguard S&P 500 ETF 0.06% 161 $96K No change
BSJT Invesco Bulletshares 2029 HY 0.05% 4,071 $86K Reduce -46.2%
EWC iShares MSCI Canada ETF 0.05% 1,497 $82K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.05% 1,013 $81K No change
AMZN Amazon.com Inc. 0.05% 380 $79K No change
CBSH Commerce Bancshares Inc. 0.04% 1,338 $66K No change
DBEF Xtrackers MSCI Eafe Hedged E 0.03% 1,122 $55K No change
SCZ iShares MSCI Eafe Small-Cap 0.03% 646 $51K No change
UNH Unitedhealth Group Inc. 0.02% 140 $38K New
MSFT Microsoft Corp. 0.02% 100 $37K New
SOC Sable Offshore Corp. 0.01% 1,500 $25K Reduce -90.6%
BSJU Invesco Bulletshares 2030 HY 0.01% 954 $24K Reduce -86.8%
BN Brookfield Corp. 0.01% 600 $24K New
MU Micron Technology Inc. 0.01% 65 $22K Add +18.2%
PYPL PayPal Holdings Inc. 0.01% 450 $20K New
SPGI S&P Global Inc. 0.01% 35 $15K New
EQT Eqt Corp. 0.01% 225 $14K New
SOLS Solstice Adv Materials Inc. 0.01% 110 $8K No change
C Citigroup Inc. 0.00% 52 $6K No change
KHC The Kraft Heinz Co. 0.00% 250 $6K New
GIS General Mills Inc. 0.00% 125 $5K New
META Meta Platforms Inc. Class A 0.00% 7 $4K No change
SKM SK Telecom Co. Ltd.-Spon ADR 0.00% 100 $3K New
BIL SS SPDR BB 1-3M T-Bill ETF 0.00% 21 $2K No change
BABA Alibaba Group Holding-SP ADR 0.00% 10 $1K No change
YOLO Advisorshares Pure Cannabis 0.00% 270 $711 No change

Portfolio Sells Q4 2025 → Q1 2026
BSJU Invesco Bulletshares 2030 HY Reduce -86.8% 0.01% −0.11
BSCU Invesco Bulletshares 2030 CB Reduce -25.9% 0.17% −0.09
SOC Sable Offshore Corp. Reduce -90.6% 0.01% −0.08
WTTR Select Water Solutions Inc. Sold out 0.00% −0.08
BSJT Invesco Bulletshares 2029 HY Reduce -46.2% 0.05% −0.06

Portfolio Buys Q4 2025 → Q1 2026
SGOV iShares 0-3 Month Treasury B Add +54.5% 33.41% +9.09
MSCI MSCI Inc. New 1.20% +1.20
PAGP Plains GP Holdings LP Add +1.9% 0.61% +0.08
EPD Enterprise Products Partners Add +1.5% 0.54% +0.03
UNH Unitedhealth Group Inc. New 0.02% +0.02
MSFT Microsoft Corp. New 0.02% +0.02
BN Brookfield Corp. New 0.01% +0.01
PYPL PayPal Holdings Inc. New 0.01% +0.01
SPGI S&P Global Inc. New 0.01% +0.01
EQT Eqt Corp. New 0.01% +0.01
KHC The Kraft Heinz Co. New 0.00% +0.00
GIS General Mills Inc. New 0.00% +0.00
MU Micron Technology Inc. Add +18.2% 0.01% +0.00
SKM SK Telecom Co. Ltd.-Spon ADR New 0.00% +0.00
HYFI AB High Yield ETF Add +1.8% 0.06% −0.01
MPLX MPLX LP Add +1.9% 0.33% −0.01
WES Western Midstream Partners L Add +2.1% 0.33% −0.02
BSCT Invesco Bulletshares 2029 CB Add +0.6% 0.23% −0.03
TOTL SS Doubleline TR Tact ETF Add +0.6% 0.24% −0.03
NVDA Nvidia Corp. Add +0.7% 0.30% −0.06
IVV iShares Core S&P 500 ETF Add +0.2% 0.64% −0.12
VIG Vanguard Dividend Apprec ETF Add +0.1% 1.30% −0.20
IEFA iShares Core MSCI Eafe ETF Add +0.1% 5.35% −0.61
TSLA Tesla Inc. Add +0.9% 1.80% −0.63
SPY SS SPDR S&P 500 ETF Trust-US Add +0.2% 3.51% −0.64
IWD iShares Russell 1000 Value E Add +0.2% 9.40% −1.02
IQLT iShares MSCI International Q Add +0.1% 10.61% −1.15
IWF iShares Russell 1000 Growth Add +0.1% 8.33% −2.08
QUAL iShares MSCI USA Quality Fac Add +0.1% 16.25% −2.71

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