Blackbaud
BLKB
304 hedge funds and large institutions have $2.87B invested in Blackbaud in 2025 Q4 according to their latest regulatory filings, with 41 funds opening new positions, 99 increasing their positions, 127 reducing their positions, and 44 closing their positions.
547% more call options, than puts
Call options by funds: $1.84M | Put options by funds: $285K
4% less capital invested
Capital invested by funds: $2.99B → $2.87B (-$122M)
7% less first-time investments, than exits
New positions opened: 41 | Existing positions closed: 44
1.16% less ownership
Funds ownership: 96% → 94.84% (-1.2%)
3% less funds holding
Funds holding: 315 → 304 (-11)
22% less repeat investments, than reductions
Existing positions increased: 99 | Existing positions reduced: 127
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AQR Capital Management
Greenwich,
Connecticut
|
+$29M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$8.54M |
| 3 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
+$7.54M |
| 4 |
VBA
Van Berkom & Associates
Montreal,
Quebec, Canada
|
+$6.89M |
| 5 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
+$6.28M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GF
Greenhouse Funds
Baltimore,
Maryland
|
-$51.6M |
| 2 |
ACH
ArrowMark Colorado Holdings
Denver,
Colorado
|
-$20.9M |
| 3 |
SCM
SG Capital Management
Chicago,
Illinois
|
-$16M |
| 4 |
Millennium Management
New York
|
-$14.1M |
| 5 |
BlackRock
New York
|
-$11.7M |
BLKB Hedge Fund Activity: Q4 2025 in Review
304 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Blackbaud (BLKB) for Q4 2025, worth a combined $2.87B — down 4.1% from $2.99B a quarter earlier.
Sellers outnumbered buyers: 44 funds closed out of BLKB and 41 opened new positions — a net loss of 3 holders — while 127 trimmed existing stakes and 99 added.
The largest buyer was AQR Capital Management, adding an estimated $29M. The largest seller was Greenhouse Funds, exiting entirely with an estimated $51.6M sold.
- 304 institutional investors held Blackbaud (BLKB) as of Q4 2025, down from 315 in Q3 2025.
- Funds reported $2.87B of Blackbaud stock for Q4 2025, down 4.1% quarter-over-quarter.
- 41 funds opened new Blackbaud positions in Q4 2025 and 44 closed out, a net change of -3 holders.
- The largest Blackbaud buyer in Q4 2025 was AQR Capital Management, an estimated $29M added.
- The largest Blackbaud seller in Q4 2025 was Greenhouse Funds, an estimated $51.6M sold.
Based on aggregated 13F filings for Q4 2025.