Badger Meter, Inc.
US ˙ NYSE ˙ US0565251081

SecurityBMI / Badger Meter, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership663,192 shares
Latest Disclosed Value $ 101,037,915
Morgan Stanley reports 8.01% decrease in ownership of BMI / Badger Meter, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 663,192 shares of Badger Meter, Inc. (US:BMI) valued at $101,037,301 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 720,969 shares of Badger Meter, Inc.. This represents a change in shares of -8.01% during the quarter. The current value of the position is $86,082,322 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F BADGER METER COM 056525108 663,192 -57,777 -8.01 101,038 -19.65 0.0061
2026-05-27 2025-12-31 13F/A-1 BADGER METER COM 056525108 720,969 -31,303 -4.16 125,745 -6.40 0.0075
2026-02-13 2025-12-31 13F BADGER METER COM 056525108 720,969 -31,303 125,745 0.0075
2026-05-27 2025-09-30 13F/A-1 BADGER METER COM 056525108 752,272 -3,153 -0.42 134,341 -27.40 0.0081
2025-11-14 2025-09-30 13F BADGER METER COM 056525108 752,272 -3,153 134,341 0.0081
2025-08-15 2025-06-30 13F BADGER METER COM 056525108 755,425 26,245 3.60 185,042 33.39 0.0121
2025-05-15 2025-03-31 13F BADGER METER COM 056525108 729,180 -20,941 -2.79 138,727 -12.81 0.0099
2025-05-15 2024-12-31 13F/A-1 BADGER METER COM 056525108 750,121 23,860 3.29 159,117 0.31 0.0111
2025-02-14 2024-12-31 13F BADGER METER COM 056525108 750,121 23,860 159,117 0.0111
2025-05-14 2024-09-30 13F/A-2 BADGER METER COM 056525108 726,261 71,027 10.84 158,623 29.91 0.0115
2025-02-14 2024-09-30 13F/A-1 BADGER METER COM 056525108 726,261 71,027 158,623 0.0115
2024-11-14 2024-09-30 13F BADGER METER COM 056525108 726,261 71,027 158,623 0.0014
2025-05-14 2024-06-30 13F/A-2 BADGER METER COM 056525108 655,234 57,248 9.57 122,103 26.19 0.0094
2024-10-17 2024-06-30 13F/A-1 BADGER METER COM 056525108 655,234 57,248 122,103 0.0094
2024-08-14 2024-06-30 13F BADGER METER COM 056525108 655,234 57,248 122,103 0.0094
2024-10-17 2024-03-31 13F/A-2 BADGER METER COM 056525108 597,986 201,388 50.78 96,760 58.05 0.0078
2024-08-16 2024-03-31 13F/A-1 BADGER METER COM 056525108 597,986 201,388 96,760 0.0009
2024-05-15 2024-03-31 13F BADGER METER COM 056525108 597,986 201,388 96,760 0.0078
2024-08-16 2023-12-31 13F/A-1 BADGER METER COM 056525108 396,598 37,541 10.46 61,223 18.52 0.0054
2024-02-13 2023-12-31 13F BADGER METER COM 056525108 396,598 37,541 61,223 0.0054
2023-11-15 2023-09-30 13F BADGER METER COM 056525108 359,057 -20,061 -5.29 51,658 -7.66 0.0053
2023-08-14 2023-06-30 13F BADGER METER COM 056525108 379,118 27,656 7.87 55,943 30.66 0.0055
2023-05-15 2023-03-31 13F BADGER METER COM 056525108 351,462 -8,820 -2.45 42,815 9.00 0.0046
2023-02-14 2022-12-31 13F BADGER METER COM 056525108 360,282 -350 -0.10 39,282 17.89 0.0045
2022-11-14 2022-09-30 13F BADGER METER COM 056525108 360,632 116,709 47.85 33,319 68.86 0.0045
2022-10-27 2022-06-30 13F/A-1 BADGER METER COM 056525108 243,923 71,081 41.12 19,732 14.50 0.0026
2022-08-15 2022-06-30 13F BADGER METER COM 056525108 243,923 71,081 19,732 0.0005
2022-10-27 2022-03-31 13F/A-1 BADGER METER COM 056525108 172,842 11,403 7.06 17,233 0.17 0.0023
2022-05-13 2022-03-31 13F BADGER METER COM 056525108 172,842 11,403 17,233 0.0023
2022-02-14 2021-12-31 13F BADGER METER COM 056525108 161,439 -2,452 -1.50 17,203 3.78 0.0021
2021-11-15 2021-09-30 13F BADGER METER COM 056525108 163,891 -45,640 -21.78 16,577 -19.37 0.0022
2021-08-23 2021-06-30 13F/A-1 BADGER METER COM 056525108 209,531 33,956 19.34 20,560 25.83 0.0027
2021-08-16 2021-06-30 13F BADGER METER COM 056525108 209,531 33,956 20,560 0.0006
2021-05-17 2021-03-31 13F BADGER METER COM 056525108 175,575 -37,570 -17.63 16,340 -18.50 0.0024
2021-02-16 2020-12-31 13F BADGER METER COM 056525108 213,145 21,700 11.33 20,048 60.19 0.0031
2020-11-13 2020-09-30 13F BADGER METER COM 056525108 191,445 26,140 15.81 12,515 20.34 0.0024
2020-08-14 2020-06-30 13F BADGER METER COM 056525108 165,305 63,317 62.08 10,400 90.27 0.0023
2020-05-26 2020-03-31 13F/A-1 BADGER METER COM 056525108 101,988 -61,109 -37.47 5,466 -48.38 0.0015
2020-05-15 2020-03-31 13F BADGER METER COM 056525108 101,988 -61,109 5,466 1,482.7148
2020-02-14 2019-12-31 13F BADGER METER COM 056525108 163,097 20,829 14.64 10,589 38.62 0.0025
2019-11-14 2019-09-30 13F BADGER METER COM 056525108 142,268 -24,735 -14.81 7,639 -23.36 0.0020
2019-08-14 2019-06-30 13F BADGER METER COM 056525108 167,003 14,234 9.32 9,968 17.26 0.0027
2019-05-15 2019-03-31 13F BADGER METER COM 056525108 152,769 31,265 25.73 8,501 42.13 0.0024
2019-02-14 2018-12-31 13F BADGER METER COM 056525108 121,504 42,030 52.89 5,981 42.13 0.0018
2019-04-23 2018-09-30 13F/A-2 BADGER METER COM 056525108 79,474 3,816 5.04 4,208 24.42 0.0011
2018-11-20 2018-09-30 13F/A-1 BADGER METER COM 056525108 79,474 0 4,208 0.0011
2018-11-14 2018-09-30 13F BADGER METER COM 056525108 79,474 3,816 4,208
2019-04-23 2018-06-30 13F/A-1 BADGER METER COM 056525108 75,658 160 0.21 3,382 -5.00 0.0009
2018-08-14 2018-06-30 13F BADGER METER COM 056525108 75,658 160 3,382
2019-04-23 2018-03-31 13F/A-1 BADGER METER COM 056525108 75,498 1,406 1.90 3,560 0.51 0.0010
2018-05-14 2018-03-31 13F BADGER METER COM 056525108 75,498 1,406 3,560
2019-04-23 2017-12-31 13F/A-1 BADGER METER COM 056525108 74,092 31,088 72.29 3,542 68.11 0.0010
2018-02-14 2017-12-31 13F BADGER METER COM 056525108 74,092 31,088 3,542
2017-11-14 2017-09-30 13F BADGER METER COM 056525108 43,004 12,343 40.26 2,107 72.28 0.0006
2017-08-11 2017-06-30 13F BADGER METER COM 056525108 30,661 -14,422 -31.99 1,223 -26.15 0.0004
2017-05-22 2017-03-31 13F/A-1 BADGER METER COM 056525108 45,083 -50,140 -52.66 1,656 -52.94 0.0005
2017-05-12 2017-03-31 13F BADGER METER COM 056525108 45,083 1,656
2017-02-22 2016-12-31 13F/A-1 BADGER METER COM 056525108 95,223 54,539 134.06 3,519 158.18 0.0012
2017-02-13 2016-12-31 13F BADGER METER COM 056525108 95,223 3,519
2016-11-10 2016-09-30 13F BADGER METER COM 056525108 40,684 29,985 280.26 1,363 74.30 0.0005
2016-08-12 2016-06-30 13F BADGER METER COM 056525108 10,699 -2,028 -15.93 782 -7.57 0.0003
2016-05-12 2016-03-31 13F BADGER METER COM 056525108 12,727 2,846 28.80 846 46.11 0.0003
2016-02-09 2015-12-31 13F BADGER METER COM 056525108 9,881 2 0.02 579 0.87 0.0002
2016-02-08 2015-09-30 13F/A-1 BADGER METER COM 056525108 9,879 -5,478 -35.67 574 -41.07 0.0002
2015-11-09 2015-09-30 13F BADGER METER COM 056525108 9,879 574
2015-08-12 2015-06-30 13F BADGER METER COM 056525108 15,357 7,736 101.51 974 113.60 0.0003
2015-05-14 2015-03-31 13F BADGER METER COM 056525108 7,621 22 0.29 456 1.11 0.0002
2015-02-13 2014-12-31 13F BADGER METER COM 056525108 7,599 -4,497 -37.18 451 -26.07 0.0002
2014-12-16 2014-09-30 13F/A-1 BADGER METER COM 056525108 12,096 4,025 49.87 610 43.53 0.0002
2014-11-14 2014-09-30 13F BADGER METER COM 056525108 12,096 610
2014-08-12 2014-06-30 13F BADGER METER COM 056525108 8,071 1,599 24.71 425 19.05 0.0007
2014-05-13 2014-03-31 13F BADGER METER COM 056525108 6,472 385 6.32 357 7.53 0.0001
2014-02-13 2013-12-31 13F BADGER METER COM 056525108 6,087 -4,669 -43.41 332 -33.60 0.0001
2013-11-13 2013-09-30 13F BADGER METER INC COM ST COM 056525108 10,756 -9,511 -46.93 500 -44.63 0.0002
2013-08-08 2013-06-30 13F BADGER METER INC COM ST COM 056525108 20,267 20,267 903 0.0005
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.