Yes, it’s March, which means conference tournaments and eventually the NCAA championship will be decided. But for the real title — the College Basketball Championship Belt — business continues as usual.
Recall the rules: If you beat the owner of the Belt, you win the Belt and become the new champion. Duquesne claimed the title by upsetting St. Louis, which had held the Belt for nearly two months. According to this database (via reddit user boneillhawk), the Minutemen last held the Belt in December of 2004, winning it from Connecticut but losing it to Miami three days later.
St. Louis can win back the Belt from UMass in the regular-season finale, but either way, don’t expect it to stay with one team for long. No team that finished the regular season with the Belt has held it through its conference tournament since Duke in 1999, and none has gone all the way since Duke (who else?) in 1992.