Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Bentley Sys Inc (BSY)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -45
Streak
2Q ▼
Buyers last Q
43%

Smart Money Signals — BSY

Based on 398 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 BSY 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 — 82% of 3.0Y peak

82% of all-time peak
398 funds currently hold this stock — 82% of the 3.0-year high of 483 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 10% fewer funds vs a year ago

fund count last 6Q
45 fewer hedge funds hold BSY compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 43% buying

200 buying269 selling
Last quarter: 269 funds reduced or exited vs 200 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 (-18 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 75 → 111 → 80 → 62. 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.
🔒

53% of holders stayed for 2+ years

■ 53% conviction (2yr+) ■ 23% medium ■ 24% new
212 out of 398 hedge funds have held BSY 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.
📊

Peak discovery — momentum slowing

86 → 75 → 111 → 80 → 62 new funds/Q
New funds entering each quarter: 75 → 111 → 80 → 62. BSY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 57% veterans vs 27% newcomers

■ 57% veterans ■ 16% 1-2yr ■ 27% new
Entry-cohort mix of 407 holders: 232 (57%) are 2+ year veterans, 67 entered 1–2 years ago, and 108 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 61% AUM from top-100 funds

61% from top-100 AUM funds
59 of 395 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in BSY. 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 — BSY

In 2026 Q2, 200 hedge funds were net buyers of BSY (62 opened a new position, 138 added to an existing one), while 269 reduced or exited (162 trimmed, 107 sold completely) — a 43% buyer ratio, indicating roughly balanced activity. Net selling has persisted for two consecutive quarters. 61% of total institutional value in BSY is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -45 funds (more exits than new entries). Total institutional holders: 398.

Hedge Fund Ownership: BSY

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

Market Analysis: BSY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BSY

-- --

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.

14 top-rated funds 1 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
1.9
/ 10
conviction
Hedge Fund Positioning: BSY
389 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 389 443 -12.19%
13F Shares 156M 150M 4.25%
Total Value $4.29B $4.79B -10.36%
New Positions 59 80 -21
Increased Positions 131 165 -34
Closed Positions 110 119 -9
Reduced Positions 162 159 +3
Total Calls 7 6 16.67%
Total Puts 5 4 25.0%
PUT/CALL Ratio 0.71 0.67 Neutral

Statistics: BSY

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Financial Highlights

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Institutional Holders (2026 Q2)

389 + investors

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

QUARTER:
Top 25 BSY holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Ecofi Investissements SA 7.88% 73,800 $2.2M
2 Montanaro Asset Management Ltd 3.59% 380,833 $11.4M
3 Sone Capital Management, LLC 1.79% 786,538 $23.5M
4 Foresight Group Ltd Liability Partnership 1.56% 293,803 $8.7M
5 Mirova 1.52% 1,373,004 $41.0M
6 Prentiss Smith & Co Inc 1.03% 62,499 $1.9M
7 Whetstone Capital Advisors, LLC 0.77% 98,200 $2.9M
8 Sierra Legacy Group 0.77% 33,275 $995K
9 Aurora Investment Counsel 0.75% 48,987 $1.5M
10 MY Wealth Management Inc. 0.70% 33,356 $997K
11 Benchmark Financial, LLC 0.66% 27,168 $812K
12 Legacy Advisors, LLC 0.54% 194,576 $5.8M
13 William Blair Investment Management, LLC 0.53% 5,942,507 $177.6M
14 Needham Investment Management LLC 0.49% 542,300 $16.2M
15 Madison Asset Management, LLC 0.49% 1,365,230 $40.8M
16 Copeland Capital Management, LLC 0.34% 546,221 $16.3M
17 Impax Asset Management Group plc 0.32% 1,657,397 $49.5M
18 Bright Rock Capital Management, LLC 0.30% 50,000 $1.5M
19 Atom Investors LP 0.30% 111,872 $3.3M
20 Lighthouse Investment Partners, LLC 0.29% 358,569 $10.7M
21 Numerai GP LLC 0.29% 118,178 $3.5M
22 Axq Capital, LP 0.28% 84,894 $2.5M
23 Mairs & Power Inc 0.27% 970,114 $29.0M
24 iSAM Funds (UK) Ltd 0.25% 11,900 $356K
25 Swedbank AB 0.23% 9,000,000 $269.0M
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 — Bentley Sys Inc (BSY)

What does the Smart Money Trend signal show for BSY?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their BSY 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 BSY?

More sellers than buyers — 43% buying: Last quarter: 269 funds reduced or exited vs 200 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 BSY holders?

Elite ownership — 61% AUM from top-100 funds: 59 of 395 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in BSY. 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 BSY?

53% of holders stayed for 2+ years: 212 out of 398 hedge funds have held BSY 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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