FBTC

FBTC

FBTC

Market Cap: $16.08B

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 8, 2025	Mountain Vista Wealth Management	-	-	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	diversification, Dollar, IPOs, Recovery, tariffs, volatility	Manager emphasizes that volatility is the price of admission for superior long-term returns, citing the April market decline and subsequent recovery. The VIX reached 60 during Liberation Day sell-off, the highest since March 2020.		View
2024 Q2	Jun 30, 2024	The Wolf of Harcourt Street	-0.6%	11.2%	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	diversification, Dollar, international, IPOs, tariffs, volatility	The manager emphasizes that volatility is the price of admission for superior long-term returns, citing the extreme market swings in April when the S&P 500 and Nasdaq 100 dropped 11% before recovering. Historical analysis shows strong returns following rapid market declines and near bear markets.		View
2026 Q1	Apr 9, 2026	Mountain Vista Wealth Management	-	-	FBTC, GLD, IWM, QQQ, SPY, USO, VXUS, XLE	AI, energy, Geopolitical, gold, inflation, Iran, private credit, software			View
2024 Q1	Apr 5, 2024	Brummer Multi-Strategy Fund	-	-	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	diversification, Dollar, international, IPOs, technology, Trade Policy, volatility	The manager emphasizes that volatility is the price of admission for superior long-term returns, citing the April market decline and subsequent recovery. During extreme volatility periods like Liberation Day, investors should avoid converting temporary losses into permanent ones by selling.		View
2025 Q1	Apr 10, 2025	Skybound Wealth Management	-	-	FBTC, IEMG, IVE, IVW, IWM, IYZ, QQQ, SPY, VXUS, XLB, XLC, XLE, XLF, XLI, XLK, XLP, XLRE, XLU, XLV, XLY	Capital markets, diversification, Dollar, Recovery, tariffs, Trade Policy, volatility	Market experienced extreme volatility in April with S&P 500 and Nasdaq 100 dropping 11% from March 31st to April 8th triggered by Trump's reciprocal tariffs announcement. VIX reached approximately 60 intraday during the Liberation Day sell-off, the highest reading since March 2020. Despite the volatility, markets recovered strongly with V-shaped recovery patterns.		View
2025 Q4	Jan 9, 2026	Mountain Vista Wealth Management	0.0%	0.0%	AGG, DBB, EMB, ETHA, FBTC, GLD, IVE, IVW, IWM, JNK, QQQ, SPY, TLT, USO, VXUS, XLK, XLP, XLRE, XLU, XLV	AI, Bitcoin, Economic Outlook, ETFs, Federal Reserve, gold, inflation, Market Commentary	A key question for 2026 is whether AI investments will translate into measurable productivity gains and margin expansion beyond the technology sector. The downside scenario involves a reassessment of AI and data center ROI which could trigger sharp corrections in high-flying growth stocks. Companies are investing in technology that allows them to make their existing workforce more productive, representing an AI-driven productivity boom. Inflation remains persistently above the Federal Reserve's 2% target for the fifth consecutive year, though showing signs of cooling on many fronts. Tariffs have pushed up goods prices, causing inflation to remain elevated. The psychological scars of 2021/22 inflation remain despite real wage growth trending up since Q3 2022. The FOMC delivered a 25 basis point rate cut to 3.50-3.75% range with significant division among policymakers. High interest rates and persistently high prices have pushed monthly payments up at a shocking rate relative to income growth. The Fed announced it would begin purchasing shorter-term Treasury securities to maintain ample reserves. Gold delivered exceptional gains consistently as investors sought assets tied to real scarcity and low correlation to financial assets. Persistent geopolitical risk, elevated fiscal deficits, and gradual erosion of confidence in fiat currencies supported sustained inflows. Central banks continued to be net buyers, with gold posting an extraordinary 63.7% annual return. Bitcoin exhibited far greater volatility and a different return profile than gold, experiencing powerful rallies earlier in the year but proving fragile as risk appetite faded. The sharp drawdown in Q4 highlighted Bitcoin's sensitivity to speculative positioning and leverage. Rather than behaving as a defensive hedge, Bitcoin traded more like a high-beta risk asset.		View
2024 Q4	Jan 13, 2025	Patient Capital Management	-	-	AMZN, BIIB, COST, CVS, DAL, EXPE, FBTC, GOOGL, KOS, META, NCLH, NVDA, OMF, PGEN, PLAY, RPRX, SDRL, TSLA, UAL	AI, Bull Market, Cyclical, energy, healthcare, technology, Travel, value	Manager believes we are in the midst of a technological revolution driven by AI. The most brilliant technology experts agree AI will transform the world, with massive data and capital requirements creating advantages for scaled incumbents like the Mag 7. This supports the manager's view that we're still early in the AI cycle.	BIIB CVS RPRX SDRL KOS FBTC OMF PGEN	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Patient Capital Management	Fidelity Wise Origin Bitcoin ETF	Financials	Asset Management & Custody Banks	Bull	NYSE Arca	Alternative Investment, Bitcoin, cryptocurrency, Digital Assets, Equity, ETF, Institutional Adoption	View Pitch

BSD Shareholders of FBTC

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
Israel Englander	Millennium Management LLC	$233.2B	$556.0M	0.24%	7,293,130	-153,875	-2.07%	3.4565%
Murray Stahl	Horizon Kinetics	$7.4B	$433,062	0.01%	5,681	+0	+0.00%	0.0027%
Mario Gabelli	GAMCO Investors	$10.4B	$1.3M	0.01%	17,500	+0	+0.00%	0.0083%

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