biote Corp. files Amendment No. 3 to a Schedule 13G/A reporting beneficial ownership. The filing states that Bandera Partners LLC, and its Managing Members Gregory Bylinsky and Jefferson Gramm, report shared beneficial ownership of 2,065,482 shares of Class A common stock as of the close of business on March 31, 2026. The reported stake equals 6.4% of the class, calculated using 32,046,352 shares outstanding as of March 23, 2026 from the issuer's proxy statement. The statement clarifies that the shares are held by Bandera Master Fund L.P., that Bandera Partners is the fund's investment manager, and that the Reporting Persons disclaim beneficial ownership under certain rules.
Positive
None.
Negative
None.
Insights
Bandera Partners reports a 6.4% beneficial position in biote Corp.
The filing identifies 2,065,482 shares held by Bandera Master Fund L.P. with Bandera Partners as investment manager. The disclosure attaches a precise ownership percentage using the issuer's stated outstanding share count as of March 23, 2026.
Disclosure language includes a disclaimer of beneficial ownership and manager attribution. Subsequent filings may clarify any group arrangements or changes in voting/dispositive authority.
Reporting structure shows indirect holdings via an investment fund.
The statement explains that the reported shares are owned by Bandera Master Fund L.P. and that Bandera Partners exercises voting and dispositive authority as the fund manager. Messrs. Bylinsky and Gramm are named as Managing Members.
Rule-based disclaimers (including Rule 13d-4) are used; the filing ties numbers to specific dates for clarity and traceability.
Key Figures
Reported shares owned:2,065,482 sharesPercent of class:6.4%Shares outstanding (context):32,046,352 shares+1 more
4 metrics
Reported shares owned2,065,482 sharesAmount beneficially owned as of March 31, 2026
Percent of class6.4%Calculated using 32,046,352 shares outstanding as of March 23, 2026
Shares outstanding (context)32,046,352 sharesIssuer's outstanding share count as of March 23, 2026 (proxy statement)
Reporting dateMarch 31, 2026Close of business ownership snapshot
Key Terms
beneficial ownership, Rule 13d-4, Schedule 13G/A
3 terms
beneficial ownershipregulatory
"Bandera Partners may be deemed to have beneficial ownership over the Shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Rule 13d-4regulatory
"Bandera Partners and Messrs. Bylinsky and Gramm disclaim beneficial ownership pursuant to Rule 13d-4"
Schedule 13G/Aregulatory
"Amendment No. 3 to a Schedule 13G/A reporting beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
What stake does Bandera Partners report in biote Corp. (BTMD)?
Bandera Partners reports beneficial ownership of 2,065,482 shares of Class A common stock. The filing states this equals 6.4% of the class using 32,046,352 shares outstanding as of March 23, 2026 cited in the issuer's proxy statement.
As of what date is the ownership reported for BTMD?
The ownership amounts are reported as of the close of business on March 31, 2026. The percentage calculation references an outstanding share count from the issuer dated March 23, 2026 as disclosed in the proxy statement.
Who legally holds the 2,065,482 BTMD shares reported in the filing?
The filing states the shares are directly held by Bandera Master Fund L.P., a Cayman Islands exempted limited partnership, for which Bandera Partners serves as investment manager and reports voting/dispositive authority.
Do the Reporting Persons claim direct beneficial ownership of the shares?
The filing includes disclaimers: Bandera Partners and Messrs. Bylinsky and Gramm state certain disclaimers of beneficial ownership and reference Rule 13d-4, while also describing manager voting and dispositive authority over the fund's shares.
Where can the outstanding share count used to compute 6.4% be found?
The percentage is calculated using 32,046,352 shares outstanding as disclosed in the issuer's definitive proxy statement on Schedule 14A filed and referenced in the filing for March 23, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
biote Corp.
(Name of Issuer)
Class A common stock, par value $0.0001 per share
(Title of Class of Securities)
090683103
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
090683103
1
Names of Reporting Persons
Bandera Partners LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,065,482.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,065,482.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,065,482.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.4 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
090683103
1
Names of Reporting Persons
Bylinsky Gregory
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,065,482.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,065,482.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,065,482.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.4 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
090683103
1
Names of Reporting Persons
Gramm Jefferson
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,065,482.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,065,482.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,065,482.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.4 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
biote Corp.
(b)
Address of issuer's principal executive offices:
1875 W. WALNUT HILL LN #100, IRVING, TX, 75038
Item 2.
(a)
Name of person filing:
This statement is filed by Bandera Partners LLC, a Delaware limited liability company ("Bandera Partners"), Gregory Bylinsky and Jefferson Gramm. Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."
Bandera Partners and Messrs. Bylinsky and Gramm are filing this Statement with respect to the 2,065,482 shares of Class A Common stock, par value $0.0001 per share, of the Issuer (the "Shares") directly held by Bandera Master Fund L.P., a Cayman Islands exempted limited partnership ("Bandera Master Fund").
Bandera Partners is the investment manager of Bandera Master Fund and may be deemed to have beneficial ownership over the Shares held by Bandera Master Fund by virtue of the sole and exclusive authority granted to Bandera Partners by Bandera Master Fund to vote and dispose of such Shares. Messrs. Bylinsky and Gramm are Managing Members of Bandera Partners and may be deemed to beneficially own the Shares held by Bandera Master Fund.
The filing of this Schedule 13G shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the Shares that it or he does not directly own. Without limiting the foregoing sentence, Bandera Master Fund specifically disclaims beneficial ownership of the Shares held by it by virtue of its inability to vote or dispose of such Shares.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is 138 Atlantic Avenue, Brooklyn, New York 11201.
(c)
Citizenship:
Bandera Partners is organized under the laws of the State of Delaware. Each of Messrs. Bylinsky and Gramm is a citizen of the United States of America.
(d)
Title of class of securities:
Class A common stock, par value $0.0001 per share
(e)
CUSIP No.:
090683103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
All ownership information reported in this Item 4 is as of the close of business on March 31, 2026.
Bandera Partners LLC
2,065,482 Shares
Gregory Bylinsky
2,065,482 Shares
Jefferson Gramm
2,065,482 Shares
(b)
Percent of class:
Bandera Partners LLC
6.4% (based on 32,046,352 Shares outstanding as of March 23, 2026, as disclosed in the Issuer's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 2, 2026)
Gregory Bylinsky
6.4% (based on 32,046,352 Shares outstanding as of March 23, 2026, as disclosed in the Issuer's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 2, 2026)
Jefferson Gramm
6.4% (based on 32,046,352 Shares outstanding as of March 23, 2026, as disclosed in the Issuer's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 2, 2026)
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Cover Pages Items 5-9.
(ii) Shared power to vote or to direct the vote:
See Cover Pages Items 5-9.
(iii) Sole power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
(iv) Shared power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The right to receive dividends from, or the proceeds from the sale of, the Shares reported herein is held by Bandera Master Fund, a private investment fund for which Bandera Partners serves as investment manager. Bandera Partners and Messrs. Bylinsky and Gramm disclaim beneficial ownership of the Shares reported in this statement pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on June 13, 2023.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
