Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Blackbaud Inc (BLKB)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -11
Streak
3Q ▼
Buyers last Q
54%

Smart Money Signals — BLKB

Based on 281 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds reduced or closed their BLKB 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 — 92% of 3.0Y peak

92% of all-time peak
281 funds currently hold this stock — 92% of the 3.0-year high of 304 funds (reached 2025 Q3). 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 BLKB is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 54% buying

176 buying148 selling
Last quarter: 176 funds bought or added vs 148 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+16 vs last Q)

new funds entering per quarter
Funds opening a new BLKB position: 51 → 43 → 47 → 63. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 17% medium ■ 23% new
168 out of 281 hedge funds have held BLKB 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 +11%, value -14%

Value
-14%
Shares
+11%
Last quarter: funds added +11% more shares while total portfolio value only changed -14%. 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

43 → 51 → 43 → 47 → 63 new funds/Q
New funds entering each quarter: 51 → 43 → 47 → 63. A growing number of institutions are discovering BLKB each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 64% veterans vs 27% newcomers

■ 64% veterans ■ 9% 1-2yr ■ 27% new
Entry-cohort mix of 282 holders: 180 (64%) are 2+ year veterans, 25 entered 1–2 years ago, and 77 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 47% AUM from top-100 funds

47% from top-100 AUM funds
51 of 281 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in BLKB. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.2
out of 10
Low Exit Risk
Exit risk score 3.2/10 — 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 — BLKB

In 2026 Q2, 176 hedge funds were net buyers of BLKB (63 opened a new position, 113 added to an existing one), while 148 reduced or exited (74 trimmed, 74 sold completely) — a 54% buyer ratio, indicating a slight buying edge. This extends a 3-quarter selling streak, suggesting sustained institutional caution. 47% of total institutional value in BLKB is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -11 funds (more exits than new entries). Total institutional holders: 281.

Hedge Fund Ownership: BLKB

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

Market Analysis: BLKB

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BLKB

-- --

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

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

Signal Freshness measures how much BLKB has moved relative to its sector benchmark (XLK) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 84d ago
BLKB
+42.4%
XLK
+2.4%

BLKB outperformed XLK by +40.0% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 39d ago
BLKB
-6.8%
XLK
+2.7%

Since the filing became public, BLKB outperformed XLK by -9.5% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

14 top-rated funds 1 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: BLKB
277 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 277 292 -5.14%
13F Shares 50M 46M 8.57%
Total Value $1.44B $1.72B -16.48%
New Positions 62 47 +15
Increased Positions 110 112 -2
Closed Positions 77 56 +21
Reduced Positions 73 91 -18
Total Calls 0 0 -
Total Puts 1 1 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: BLKB

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

277 + investors

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

QUARTER:
Top 25 BLKB holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Clearlake Capital Group, L.P. 54.64% 9,751,837 $288.8M
2 P2 Capital Partners, LLC 5.82% 482,874 $14.3M
3 Lightrock Netherlands B.V. 3.36% 573,946 $17.0M
4 Villanova Investment Management Co LLC 1.28% 45,620 $1.4M
5 Shapiro Capital Management LLC 1.26% 703,612 $20.8M
6 Clearline Capital LP 1.22% 688,846 $20.4M
7 Kestrel Investment Management Corp 0.98% 61,050 $1.8M
8 Corbyn Investment Management Inc/Md 0.80% 93,466 $2.8M
9 Andrew Hill Investment Advisors, Inc. 0.67% 30,630 $907K
10 Tributary Capital Management, LLC 0.55% 224,561 $6.7M
11 Watershed Asset Management, L.L.C. 0.51% 19,392 $574K
12 Clark Estates Inc/Ny 0.42% 61,900 $1.8M
13 Geneva Capital Management LLC 0.38% 558,107 $16.5M
14 Aristides Capital LLC 0.28% 48,085 $1.4M
15 Palisade Capital Management, LP 0.27% 208,339 $6.2M
16 Cinctive Capital Management LP 0.24% 221,303 $6.6M
17 Sone Capital Management, LLC 0.20% 87,249 $2.6M
18 Amicus Financial Advisors, LLC 0.17% 23,365 $692K
19 Triodos Investment Management BV 0.17% 92,000 $2.7M
20 Landscape Capital Management, L.L.C. 0.16% 85,261 $2.5M
21 Numerai GP LLC 0.13% 54,209 $1.6M
22 R Squared Ltd 0.12% 7,462 $221K
23 Kesler, Norman & Wride, LLC 0.10% 22,078 $654K
24 Hillsdale Investment Management Inc. 0.10% 151,500 $4.5M
25 AlphaGrep UK Ltd 0.09% 4,140 $262K
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 — Blackbaud Inc (BLKB)

What does the Smart Money Trend signal show for BLKB?

Selling streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds reduced or closed their BLKB 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 BLKB?

Slight buying edge — 54% buying: Last quarter: 176 funds bought or added vs 148 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for BLKB holders?

Elite ownership — 47% AUM from top-100 funds: 51 of 281 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in BLKB. 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 BLKB?

60% of holders stayed for 2+ years: 168 out of 281 hedge funds have held BLKB 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 Blackbaud Inc (BLKB) following the 2026 Q2 hedge fund 13F filings?

As of today, BLKB has moved -6.8% since the 2026 Q2 13F filing date (August 14, 2026), compared to +2.7% for the XLK sector ETF — an outperformance of -9.5%. Since the quarter end (June 30, 2026), BLKB has gained +42.4% vs +2.4% 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.

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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