BlackLine
308 hedge funds and large institutions have $3.55B invested in BlackLine in 2025 Q4 according to their latest regulatory filings, with 69 funds opening new positions, 75 increasing their positions, 123 reducing their positions, and 29 closing their positions.
398% more call options, than puts
Call options by funds: $150M | Put options by funds: $30.1M
138% more first-time investments, than exits
New positions opened: 69 | Existing positions closed: 29
43% more funds holding in top 10
Funds holding in top 10: 7 → 10 (+3)
13% more funds holding
Funds holding: 273 → 308 (+35)
8% more capital invested
Capital invested by funds: $3.29B → $3.55B (+$263M)
7.91% more ownership
Funds ownership: 99.99% → 107.89% (+7.9%)
39% less repeat investments, than reductions
Existing positions increased: 75 | Existing positions reduced: 123
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EC
Engaged Capital
Newport Beach,
California
|
+$34.7M |
| 2 |
Neuberger Berman Group
New York
|
+$33.9M |
| 3 |
Teacher Retirement System of Texas
Austin,
Texas
|
+$25.8M |
| 4 |
PCR
Potrero Capital Research
San Francisco,
California
|
+$20.4M |
| 5 |
First Manhattan
New York
|
+$18.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$20.9M |
| 2 |
RP
Riverbridge Partners
Minneapolis,
Minnesota
|
-$19.2M |
| 3 |
TCM
Topline Capital Management
Santa Monica,
California
|
-$18.3M |
| 4 |
MIM
MetLife Investment Management
Whippany,
New Jersey
|
-$16.2M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
-$14.4M |
BL Hedge Fund Activity: Q4 2025 in Review
308 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in BlackLine (BL) for Q4 2025, worth a combined $3.55B — up 8% from $3.29B a quarter earlier.
Buyers outnumbered sellers: 69 funds opened new BL positions and 29 closed out — a net gain of 40 holders — while 75 added to existing stakes and 123 trimmed.
The largest buyer was Engaged Capital, adding an estimated $34.7M. The largest seller was Fidelity Investments, cutting an estimated $20.9M.
- 308 institutional investors held BlackLine (BL) as of Q4 2025, up from 273 in Q3 2025.
- Funds reported $3.55B of BlackLine stock for Q4 2025, up 8% quarter-over-quarter.
- 69 funds opened new BlackLine positions in Q4 2025 and 29 closed out, a net change of +40 holders.
- The largest BlackLine buyer in Q4 2025 was Engaged Capital, an estimated $34.7M added.
- The largest BlackLine seller in Q4 2025 was Fidelity Investments, an estimated $20.9M sold.
Based on aggregated 13F filings for Q4 2025.