Bentley Systems
490 hedge funds and large institutions have $5.39B invested in Bentley Systems in 2025 Q4 according to their latest regulatory filings, with 106 funds opening new positions, 160 increasing their positions, 171 reducing their positions, and 75 closing their positions.
41% more first-time investments, than exits
New positions opened: 106 | Existing positions closed: 75
39% more call options, than puts
Call options by funds: $31.1M | Put options by funds: $22.4M
5% more funds holding
Funds holding: 467 → 490 (+23)
2.27% more ownership
Funds ownership: 45.97% → 48.24% (+2.3%)
6% less repeat investments, than reductions
Existing positions increased: 160 | Existing positions reduced: 171
22% less capital invested
Capital invested by funds: $6.92B → $5.39B (-$1.53B)
75% less funds holding in top 10
Funds holding in top 10: 4 → 1 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$111M |
| 2 |
State Street
Boston,
Massachusetts
|
+$89.7M |
| 3 |
Swedbank
Stockholm,
Sweden
|
+$61M |
| 4 |
BNP Paribas Asset Management
Paris,
France
|
+$57.5M |
| 5 |
Morgan Stanley
New York
|
+$46M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
-$98.5M |
| 2 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
-$90.8M |
| 3 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$53.6M |
| 4 |
Pictet Asset Management
Carouge,
Switzerland
|
-$53.6M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$38.4M |
BSY Hedge Fund Activity: Q4 2025 in Review
490 of the 8,263 institutional investors tracked by Wall St. Rank reported a position in Bentley Systems (BSY) for Q4 2025, worth a combined $5.39B — down 22% from $6.92B a quarter earlier.
Buyers outnumbered sellers: 106 funds opened new BSY positions and 75 closed out — a net gain of 31 holders — while 160 added to existing stakes and 171 trimmed.
The largest buyer was BlackRock, adding an estimated $111M. The largest seller was Vanguard Group, cutting an estimated $98.5M.
- 490 institutional investors held Bentley Systems (BSY) as of Q4 2025, up from 467 in Q3 2025.
- Funds reported $5.39B of Bentley Systems stock for Q4 2025, down 22% quarter-over-quarter.
- 106 funds opened new Bentley Systems positions in Q4 2025 and 75 closed out, a net change of +31 holders.
- The largest Bentley Systems buyer in Q4 2025 was BlackRock, an estimated $111M added.
- The largest Bentley Systems seller in Q4 2025 was Vanguard Group, an estimated $98.5M sold.
Based on aggregated 13F filings for Q4 2025.