Blackline Inc (BL): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

Q: Is it too late to buy Blackline Inc (BL) following the 2026 Q1 hedge fund 13F filings?

As of today, BL has moved -1.7% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.4% for the XLK sector ETF — an outperformance of -7.1%. Since the quarter end (March 31, 2026), BL gained -27.6% vs +39.8% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Blackline Inc (BL)

271 + Investors. Track Smart Money conviction in BL. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — BL

Based on 274 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their BL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

📊

High ownership — 89% of 3.0Y peak

89% of all-time peak

274 funds currently hold this stock — 89% of the 3.0-year high of 309 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.

〰️

Stable — ownership unchanged year-over-year

fund count last 6Q

The number of hedge funds holding BL is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.

🟠

More sellers than buyers — 45% buying

143 buying178 selling

Last quarter: 178 funds reduced or exited vs 143 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

⚠️

Fewer new buyers each quarter (-12 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 55 → 33 → 66 → 54. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔒

58% of holders stayed for 2+ years

■ 58% conviction (2yr+) ■ 19% medium ■ 23% new

160 out of 274 hedge funds have held BL for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

💎

Buying through price weakness — shares -3%, value -35%

Value

-35%

-2%

Last quarter: funds added -3% more shares while total portfolio value only changed -35%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

📈

Growing discovery — still being found

40 → 55 → 33 → 66 → 54 new funds/Q

New funds entering each quarter: 55 → 33 → 66 → 54. A growing number of institutions are discovering BL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Veteran-anchored — 63% veterans vs 24% newcomers

■ 63% veterans ■ 13% 1-2yr ■ 24% new

Entry-cohort mix of 290 holders: 184 (63%) are 2+ year veterans, 37 entered 1–2 years ago, and 69 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

✅

Strong quality — 31% AUM from major funds

31% from top-100 AUM funds

47 of 272 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

3.3

out of 10

Low Exit Risk

Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	271	300	-9.67%
13F Shares	65M	67M	-2.83%
Total Value	$2.39B	$3.71B	-35.44%
New Positions	52	66	-14
Increased Positions	84	76	+8
Closed Positions	81	32	+49
Reduced Positions	96	119	-23
Total Calls	11	8	37.5%
Total Puts	7	7	-
PUT/CALL Ratio	0.64	0.88	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

271

300

-9.67%

13F Shares

65M

67M

-2.83%

Total Value

$2.39B

$3.71B

-35.44%

New Positions

-14

Increased Positions

Closed Positions

+49

Reduced Positions

119

-23

Total Calls

37.5%

Total Puts

PUT/CALL Ratio

0.64

0.88

Bullish

Institutional Holders (2026 Q1)

271 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BL. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 BL holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Clearlake Capital Group, L.P.	31.06%	5,712,300	$211.4M
2	Fivespan Partners, LP	29.55%	3,013,943	$111.5M
3	Engaged Capital LLC	16.68%	1,367,619	$50.6M
4	Potrero Capital Research LLC	9.56%	421,149	$15.6M
5	Scalar Gauge Management, LLC	5.46%	153,143	$5.7M
6	Tensile Capital Management LP	3.98%	750,786	$27.8M
7	Gagnon Advisors, LLC	3.54%	130,050	$4.8M
8	Westerly Capital Management, LLC	3.12%	310,000	$11.5M
9	Hawk Ridge Capital Management LP	2.54%	1,890,823	$70.0M
10	Gagnon Securities LLC	2.53%	296,424	$11.0M
11	Tejara Capital Ltd	1.98%	162,300	$6.0M
12	ICONIQ Capital, LLC	1.73%	2,087,081	$77.2M
13	Conestoga Capital Advisors, LLC	1.25%	1,685,484	$62.4M
14	Ewing Morris & Co. Investment Partners Ltd.	1.00%	60,000	$2.2M
15	Barton Investment Management	0.74%	158,644	$5.9M
16	Portman Square Capital LLP	0.63%	440,200	$16.3M
17	Palisade Capital Management, LP	0.54%	441,232	$16.3M
18	Redmond Asset Management, LLC	0.45%	44,570	$1.6M
19	P Schoenfeld Asset Management LP	0.43%	21,500	$796K
20	Invenomic Capital Management LP	0.40%	235,012	$8.7M
21	Westwood Holdings Group Inc	0.39%	1,456,649	$53.9M
22	Geneva Capital Management LLC	0.38%	478,086	$17.7M
23	Lavelle Capital LP	0.37%	16,119	$596K
24	Yorktown Management & Research Co Inc	0.34%	11,000	$407K
25	Hussman Strategic Advisors, INC.	0.34%	42,000	$1.6M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Blackline Inc (BL)

What does the Smart Money Trend signal show for BL?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their BL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BL?

More sellers than buyers — 45% buying: Last quarter: 178 funds reduced or exited vs 143 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for BL holders?

Strong quality — 31% AUM from major funds: 47 of 272 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held BL?

58% of holders stayed for 2+ years: 160 out of 274 hedge funds have held BL for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Blackline Inc (BL) following the 2026 Q1 hedge fund 13F filings?

As of today, BL has moved -1.7% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.4% for the XLK sector ETF — an outperformance of -7.1%. Since the quarter end (March 31, 2026), BL has gained -27.6% vs +39.8% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Blackline Inc (BL)

Smart Money Signals — BL

Selling streak — 1 quarter in a row

High ownership — 89% of 3.0Y peak

Stable — ownership unchanged year-over-year

More sellers than buyers — 45% buying

Fewer new buyers each quarter (-12 vs last Q)

58% of holders stayed for 2+ years

Buying through price weakness — shares -3%, value -35%

Growing discovery — still being found

Veteran-anchored — 63% veterans vs 24% newcomers

Strong quality — 31% AUM from major funds

Institutional Sentiment Summary — BL

Hedge Fund Ownership: BL

Market Analysis: BL

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: BL

Is It Too Late to Buy Blackline Inc (BL) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: BL

Statistics: BL

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Blackline Inc (BL)

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