Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Blackline Inc (BL)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -27
Streak
2Q ▼
Buyers last Q
42%

Smart Money Signals — BL

Based on 249 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, 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 — 80% of 3.0Y peak

80% of all-time peak
249 funds currently hold this stock — 80% of the 3.0-year high of 311 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 14% fewer funds vs a year ago

fund count last 6Q
41 fewer hedge funds hold BL compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 42% buying

121 buying169 selling
Last quarter: 169 funds reduced or exited vs 121 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 (-8 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 34 → 67 → 54 → 46. 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.
🔒

61% of holders stayed for 2+ years

■ 61% conviction (2yr+) ■ 16% medium ■ 22% new
153 out of 249 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 -2%, value -26%

Value
-25%
Shares
-1%
Last quarter: funds added -2% more shares while total portfolio value only changed -26%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~46 new funds/quarter

56 → 34 → 67 → 54 → 46 new funds/Q
New funds entering each quarter: 34 → 67 → 54 → 46. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 68% veterans vs 24% newcomers

■ 68% veterans ■ 8% 1-2yr ■ 24% new
Entry-cohort mix of 259 holders: 177 (68%) are 2+ year veterans, 21 entered 1–2 years ago, and 61 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 46% AUM from top-100 funds

46% from top-100 AUM funds
48 of 247 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in BL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — 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.

Institutional Sentiment Summary — BL

In 2026 Q2, 121 hedge funds were net buyers of BL (46 opened a new position, 75 added to an existing one), while 169 reduced or exited (96 trimmed, 73 sold completely) — a 42% buyer ratio, indicating roughly balanced activity. Net selling has persisted for two consecutive quarters. 46% of total institutional value in BL is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -27 funds (more exits than new entries). Total institutional holders: 249.

Hedge Fund Ownership: BL

How many hedge funds hold BL — quarterly history vs. share price
Quarterly hedge fund ownership of BL vs. share price

Market Analysis: BL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BL

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

9 top-rated funds 2 high-conviction
Consensus
4.3
/ 10
breadth
×
Elite
2.6
/ 10
conviction
Hedge Fund Positioning: BL
245 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 245 276 -11.23%
13F Shares 63M 66M -4.32%
Total Value $1.72B $2.40B -28.25%
New Positions 46 54 -8
Increased Positions 74 85 -11
Closed Positions 75 80 -5
Reduced Positions 91 98 -7
Total Calls 6 11 -45.45%
Total Puts 6 7 -14.29%
PUT/CALL Ratio 1.0 0.64 Neutral

Statistics: BL

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Financial Highlights

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Institutional Holders (2026 Q2)

245 + 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:
Top 25 BL holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Clearlake Capital Group, L.P. 30.33% 5,712,300 $160.3M
2 Fivespan Partners, LP 22.25% 3,363,943 $94.4M
3 Engaged Capital LLC 7.10% 827,619 $23.2M
4 Potrero Capital Research LLC 3.72% 238,590 $6.7M
5 Tejara Capital Ltd 2.76% 239,237 $6.7M
6 Tensile Capital Management LP 2.69% 694,846 $19.5M
7 Gagnon Advisors, LLC 2.32% 130,050 $3.7M
8 Gagnon Securities LLC 2.03% 375,769 $10.5M
9 Lynrock Lake LP 1.89% 1,066,666 $29.9M
10 ICONIQ Capital, LLC 1.69% 2,087,081 $58.6M
11 Ewing Morris & Co. Investment Partners Ltd. 1.39% 95,000 $2.7M
12 Westerly Capital Management, LLC 1.30% 250,000 $7.0M
13 Hawk Ridge Capital Management LP 1.08% 1,197,966 $33.6M
14 Lavelle Capital LP 0.59% 49,181 $1.4M
15 Portman Square Capital LLP 0.58% 439,800 $12.3M
16 Fund 1 Investments, LLC 0.58% 125,000 $3.5M
17 Barton Investment Management 0.48% 125,977 $3.5M
18 Redmond Asset Management, LLC 0.30% 42,204 $1.2M
19 Westwood Holdings Group Inc 0.28% 1,318,230 $37.0M
20 Palisade Capital Management, LP 0.26% 210,544 $5.9M
21 Geneva Capital Management LLC 0.25% 389,591 $10.9M
22 P Schoenfeld Asset Management LP 0.25% 21,500 $604K
23 Unique Wealth Strategies, LLC 0.22% 10,357 $573K
24 First Manhattan CO. LLC. 0.17% 2,403,510 $67.5M
25 Schwartz Investment Counsel Inc 0.16% 175,000 $4.9M
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 — 2 quarters in a row: For 2 consecutive quarters, 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 — 42% buying: Last quarter: 169 funds reduced or exited vs 121 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?

Elite ownership — 46% AUM from top-100 funds: 48 of 247 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in BL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held BL?

61% of holders stayed for 2+ years: 153 out of 249 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.

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.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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