Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Bentley Sys Inc (BSY)

437 + 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
↓ -41
Streak
1Q ▼
Buyers last Q
47%

Smart Money Signals — BSY

Based on 440 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 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 — 91% of 3.0Y peak

91% of all-time peak
440 funds currently hold this stock — 91% of the 3.0-year high of 481 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶

Steady growth — +4% more funds vs a year ago

fund count last 6Q
+17 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 47% buying

246 buying281 selling
Last quarter: 281 funds reduced or exited vs 246 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 (-31 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 85 → 75 → 110 → 79. 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.
🔒

49% of holders stayed for 2+ years

■ 49% conviction (2yr+) ■ 24% medium ■ 27% new
216 out of 440 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.
💎

Buying through price weakness — shares +6%, value -12%

Value
-11%
Shares
+5%
Last quarter: funds added +6% more shares while total portfolio value only changed -12%. 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

66 → 85 → 75 → 110 → 79 new funds/Q
New funds entering each quarter: 85 → 75 → 110 → 79. A growing number of institutions are discovering BSY each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 57% veterans vs 30% newcomers

■ 57% veterans ■ 13% 1-2yr ■ 30% new
Entry-cohort mix of 447 holders: 255 (57%) are 2+ year veterans, 60 entered 1–2 years ago, and 132 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 34% AUM from major funds

34% from top-100 AUM funds
55 of 437 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — 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 Q1, 246 hedge funds were net buyers of BSY (79 opened a new position, 167 added to an existing one), while 281 reduced or exited (161 trimmed, 120 sold completely) — a 47% buyer ratio, indicating roughly balanced activity. 34% of total institutional value in BSY is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -41 funds (more exits than new entries). Total institutional holders: 440.

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.

Is It Too Late to Buy Bentley Sys Inc (BSY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much BSY has moved relative to its sector benchmark (XLK) since the 2026 Q1 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 March 31, 2026 · 76d ago
BSY
-12.7%
XLK
+39.1%

BSY outperformed XLK by -51.8% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 31d ago
BSY
-4.2%
XLK
+4.8%

Since the filing became public, BSY outperformed XLK by -9.0% .

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.

31 top-rated funds 2 high-conviction
Consensus
6.5
/ 10
breadth
×
Elite
3.4
/ 10
conviction
Hedge Fund Positioning: BSY
437 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 437 481 -9.15%
13F Shares 150M 142M 5.51%
Total Value $4.78B $5.44B -12.01%
New Positions 78 110 -32
Increased Positions 162 154 +8
Closed Positions 122 84 +38
Reduced Positions 158 167 -9
Total Calls 6 8 -25.0%
Total Puts 4 5 -20.0%
PUT/CALL Ratio 0.67 0.62 Bullish

Statistics: BSY

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Valuation Measures Data as of: --

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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 Q1)

437 + 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 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Seldon Capital LP 10.24% 793,374 $27.9M
2 Montanaro Asset Management Ltd 4.20% 400,300 $14.1M
3 Ecofi Investissements SA 3.39% 53,000 $1.9M
4 Foresight Group Ltd Liability Partnership 2.03% 327,158 $11.5M
5 Mirova 1.79% 1,257,702 $44.2M
6 MY Wealth Management Inc. 1.69% 44,429 $1.7M
7 Tensor Edge Capital, LLC 1.57% 260,400 $9.1M
8 Prentiss Smith & Co Inc 1.28% 62,736 $2.2M
9 Cooper Investors Pty Ltd 1.18% 82,120 $2.9M
10 Sone Capital Management, LLC 1.10% 374,524 $13.2M
11 Aurora Investment Counsel 0.98% 50,195 $1.8M
12 Legacy Advisors, LLC 0.80% 194,325 $6.8M
13 Kayne Anderson Rudnick Investment Management LLC 0.73% 7,059,346 $247.9M
14 Manning & Napier Advisors LLC 0.63% 1,277,419 $44.9M
15 Sierra Legacy Group 0.60% 22,348 $785K
16 Future Fund LLC 0.59% 47,599 $1.7M
17 Copeland Capital Management, LLC 0.54% 687,682 $24.2M
18 Madison Asset Management, LLC 0.43% 981,380 $34.5M
19 Impax Asset Management Group plc 0.41% 1,677,588 $58.9M
20 Needham Investment Management LLC 0.39% 215,000 $7.6M
21 William Blair Investment Management, LLC 0.39% 3,322,723 $116.7M
22 Lighthouse Investment Partners, LLC 0.35% 289,645 $10.2M
23 Bright Rock Capital Management, LLC 0.35% 50,000 $1.8M
24 Lecap Asset Management Ltd 0.34% 25,755 $905K
25 Benchmark Financial, LLC 0.33% 10,590 $372K
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 — 1 quarter in a row: For 1 consecutive quarter, 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 — 47% buying: Last quarter: 281 funds reduced or exited vs 246 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?

Strong quality — 34% AUM from major funds: 55 of 437 holders rank in the top 100 by AUM, accounting for 34% 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 BSY?

49% of holders stayed for 2+ years: 216 out of 440 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.

Is it too late to buy Bentley Sys Inc (BSY) following the 2026 Q1 hedge fund 13F filings?

As of today, BSY has moved -4.2% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLK sector ETF — an outperformance of -9.0%. Since the quarter end (March 31, 2026), BSY has gained -12.7% vs +39.1% 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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