BENTLEY SYS INC BSY
COM CL B · Common Stock · CUSIP 08265T208 · ISIN US08265T2087
Software company for CAD-Design
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersExton, PA
- Founded1984
- Websitebentley.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($25.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $51.52. Options: 16 managers hold calls ($137.9m notional), 12 hold puts ($16.0m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 288 |
| Q4 2022 | 313 |
| Q1 2023 | 319 |
| Q2 2023 | 348 |
| Q3 2023 | 343 |
| Q4 2023 | 382 |
| Q1 2024 | 381 |
| Q2 2024 | 421 |
| Q3 2024 | 415 |
| Q4 2024 | 436 |
| Q1 2025 | 437 |
| Q2 2025 | 455 |
| Q3 2025 | 467 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 206 | 147 |
| Q1 2024 | 190 | 187 |
| Q2 2024 | 236 | 171 |
| Q3 2024 | 209 | 205 |
| Q4 2024 | 172 | 227 |
| Q1 2025 | 216 | 220 |
| Q2 2025 | 240 | 216 |
| Q3 2025 | 241 | 201 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $28.1m | $569.7k | 0.02 |
| Q1 2025 | $10.3m | $1.3m | 0.13 |
| Q2 2025 | $61.2m | $17.5m | 0.29 |
| Q3 2025 | $137.9m | $16.0m | 0.12 |
Biggest buyers
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | New | +2.9m |
| MANNING & NAPIER ADVISORS LLC | New | +2.3m |
| VANGUARD GROUP INC | Added | +1.8m |
| JPMORGAN CHASE & CO | Added | +1.4m |
| BESSEMER GROUP INC | Added | +534.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +471.8k |
| Pacer Advisors, Inc. | Added | +322.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +318.0k |
| MORGAN STANLEY | Added | +299.5k |
| GOLDMAN SACHS GROUP INC | Added | +277.8k |
Biggest sellers
| AXA S.A. | Sold out | -1.5m |
| ROYAL BANK OF CANADA | Reduced | -938.8k |
| Pictet Asset Management Holding SA | Reduced | -658.8k |
| Clearbridge Investments, LLC | Reduced | -531.0k |
| MARSHALL WACE, LLP | Reduced | -501.6k |
| Impax Asset Management Group plc | Reduced | -420.3k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Reduced | -351.6k |
| CITIGROUP INC | Reduced | -338.9k |
| WORLDQUANT MILLENNIUM ADVISORS LLC | Sold out | -283.7k |
| Creative Planning | Reduced | -271.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $37.4m725.7k shares |
| PEAK6 LLC | Added | $33.4m649.2k shares |
| NOMURA HOLDINGS INC | Added | $27.3m530.0k shares |
| JANE STREET GROUP, LLC | Added | $7.9m152.8k shares |
| CITADEL ADVISORS LLC | Added | $6.5m126.4k shares |
| GOLDMAN SACHS GROUP INC | New | $5.1m100.0k shares |
| Balyasny Asset Management L.P. | Added | $5.1m100.0k shares |
| GROUP ONE TRADING LLC | Added | $3.9m75.3k shares |
| UBS Group AG | New | $2.7m52.5k shares |
| IMC-Chicago, LLC | Added | $2.5m49.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.9m56.1k shares |
| Walleye Trading LLC | Added | $2.8m55.2k shares |
| CITADEL ADVISORS LLC | Reduced | $2.4m45.7k shares |
| Caption Management, LLC | New | $1.8m34.8k shares |
| BNP PARIBAS FINANCIAL MARKETS | New | $1.5m300 shares |
| Parallax Volatility Advisers, L.P. | Unchanged | $1.0m20.0k shares |
| GROUP ONE TRADING LLC | Reduced | $854.6k16.6k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $777.3k15.1k shares |
| WOLVERINE TRADING, LLC | Reduced | $680.9k13.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $669.0k13.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BENTLEY RICHARD P. 13G · exempt (held before listing) filed 2025-02-05 | 62.8% |
| Bentley Corinne Patricia 13G · exempt (held before listing) -2.8 pts · filed 2026-05-15 | 13.2% |
| BlackRock, Inc. 13G · institution -1.2 pts · filed 2026-07-27 | 5.4% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26), KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC (4.4%, 2026-02-13)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 1 | $16.0m | $16.0m |
| Q1 2024 | 0 | — | 1 | $35.2m | $35.2m |
| Q2 2024 | 0 | — | 2 | $16.9m | $16.9m |
| Q3 2024 | 0 | — | 3 | $40.1m | $40.1m |
| Q4 2024 | 0 | — | 1 | $14.7m | $14.7m |
| Q1 2025 | 0 | — | 3 | $5.8m | $5.8m |
| Q2 2025 | 0 | — | 2 | $50.9m | $50.9m |
| Q3 2025 | 0 | — | 3 | $12.6m | $10.6m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-02 | BENTLEY GREGORY S Executive Chair & President, director | Sold | $2.0m37.2k shares |
| 2025-07-29 | Shaman David R. Chief Legal Officer | Sold plan | $23.7k400 shares |
| 2025-07-14 | Shaman David R. Chief Legal Officer | Sold plan | $1.1m19.3k shares |
| 2025-07-11 | Shaman David R. Chief Legal Officer | Sold plan | $54.9k965 shares |
| 2025-07-07 | Bentley Keith A. Director | Sold plan | $8.3m150.0k shares |
| 2025-07-03 | Shaman David R. Chief Legal Officer | Sold plan | $1.1m19.2k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 18.6m $957.9m | Added +1.8m |
| BlackRock, Inc. 0.02% of their portfolio | 18.4m $949.2m | Added +159.2k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 1.86% of their portfolio | 14.9m $765.0m | Reduced -351.6k |
| Swedbank AB 0.38% of their portfolio | 7.3m $373.3m | Added +160.6k |
| MORGAN STANLEY 0.01% of their portfolio | 4.5m $229.8m | Added +299.5k |
| STATE STREET CORP 0.01% of their portfolio | 3.8m $196.7m | Added +180.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.3m $167.0m | Added +21.7k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 3.2m $167.0m | Added +1.4m |
| Pictet Asset Management Holding SA 0.15% of their portfolio | 3.0m $156.2m | Reduced -658.8k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.39% of their portfolio | 2.9m $150.9m | New |
| Bank of New York Mellon Corp 0.03% of their portfolio | 2.9m $150.6m | Reduced -136.1k |
| BESSEMER GROUP INC 0.20% of their portfolio | 2.5m $128.0m | Added +534.8k |
| MANNING & NAPIER ADVISORS LLC 1.56% of their portfolio | 2.3m $122.0m | New |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 2.2m $114.0m | Reduced -80.9k |
| Impax Asset Management Group plc 0.58% of their portfolio | 1.9m $99.2m | Reduced -420.3k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.7m $89.1m | Added +109.8k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.5m $76.6m | Reduced -938.8k |
| AXA Investment Managers S.A. 0.20% of their portfolio | 1.5m $75.2m | First filing |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 1.3m $69.0m | Reduced -54.9k |
| MACQUARIE GROUP LTD 0.07% of their portfolio | 1.2m $60.9m | Reduced -52.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.2m $60.3m | Reduced -142.5k |
| Fiera Capital Corp 0.19% of their portfolio | 1.1m $59.0m | Reduced -39.3k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.1m $56.3m | Added +99.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.1m $54.9m | Reduced -81.4k |
| TimesSquare Capital Management, LLC 0.72% of their portfolio | 981.4k $50.5m | Reduced -78.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 974.0k $50.1m | Reduced -58.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 954.9k $49.2m | Added +51.9k |
| Skandinaviska Enskilda Banken AB (publ) 0.19% of their portfolio | 927.7k $47.8m | Added +6.3k |
| Creative Planning 0.03% of their portfolio | 874.9k $45.0m | Reduced -271.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio | 808.5k $41.6m | Added +318.0k |
| Legal & General Group Plc 0.01% of their portfolio | 759.4k $39.1m | Reduced -3.8k |
| Handelsbanken Fonder AB 0.11% of their portfolio | 701.9k $36.1m | Added +80.0k |
| Pacer Advisors, Inc. 0.09% of their portfolio | 676.7k $34.8m | Added +322.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 631.8k $32.5m | Added +277.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 627.2k $32.3m | Added +471.8k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.07% of their portfolio | 579.8k $29.8m | Added +91.6k |
| Copeland Capital Management, LLC 0.62% of their portfolio | 577.3k $29.7m | Reduced -26.2k |
| FEDERATED HERMES, INC. 0.05% of their portfolio | 574.9k $29.6m | Added +55.9k |
| UBS Group AG 0.01% of their portfolio | 555.8k $28.6m | Reduced -102.3k |
| DekaBank Deutsche Girozentrale 0.05% of their portfolio | 540.7k $27.8m | Unchanged |
| Thematics Asset Management 1.24% of their portfolio | 531.5k $27.4m | Unchanged |
| RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio | 508.0k $26.2m | Added +108.2k |
| Nuveen, LLC 0.01% of their portfolio | 470.5k $24.2m | Added +123.8k |
| California Public Employees Retirement System 0.01% of their portfolio | 469.3k $24.2m | Reduced -70.1k |
| Swiss National Bank 0.01% of their portfolio | 462.5k $23.8m | Reduced -22.9k |
| Montanaro Asset Management Ltd 5.93% of their portfolio | 460.9k $23.7m | Added +24.0k |
| Balyasny Asset Management L.P. 0.04% of their portfolio | 406.6k $20.9m | Added +253.9k |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 404.0k $20.8m | Reduced -15.3k |
| Invesco Ltd. 0.00% of their portfolio | 394.6k $20.3m | Added +19.5k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 378.9k $19.5m | Added +218.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 338.8k $17.4m | Added +4.4k |
| BARCLAYS PLC 0.01% of their portfolio | 336.7k $17.3m | Reduced -14.9k |
| COOPER INVESTORS PTY LTD 4.54% of their portfolio | 322.9k $16.6m | Reduced -44.6k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 316.7k $16.3m | Reduced -32.8k |
| Clearbridge Investments, LLC 0.01% of their portfolio | 300.9k $15.5m | Reduced -531.0k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 295.2k $15.2m | Added +154 |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 293.3k $15.1m | Added +194.3k |
| Robeco Schweiz AG 0.33% of their portfolio | 288.5k $14.9m | Reduced -8.2k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 276.6k $14.2m | Reduced -42.4k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.55% of their portfolio | 271.9k $14.0m | Added +23.7k |
| MIROVA 1.98% of their portfolio | 271.7k $14.0m | Added +5.9k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 270.1k $13.9m | Added +13.6k |
| Gotham Asset Management, LLC 0.06% of their portfolio | 266.2k $13.7m | Added +185.2k |
| BLI - Banque de Luxembourg Investments 0.40% of their portfolio | 263.0k $13.7m | Reduced -86.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 251.6k $13.0m | Reduced -7.8k |
| Amundi 0.00% of their portfolio | 237.2k $13.5m | Added +70.5k |
| KBC Group NV 0.03% of their portfolio | 225.4k $11.6m | Reduced -53.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 223.5k $11.5m | Added +4.7k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 214.4k $11.0m | Reduced -3.5k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 202.6k $10.4m | Added +8.3k |
| CITIGROUP INC 0.01% of their portfolio | 196.6k $10.1m | Reduced -338.9k |
| BAR HARBOR WEALTH MANAGEMENT 0.60% of their portfolio | 194.9k $10.0m | Reduced -1.5k |
| Legacy Advisors, LLC 1.23% of their portfolio | 194.0k $10.0m | Added +183.5k |
| AGF MANAGEMENT LTD 0.04% of their portfolio | 180.6k $9.3m | Added +70.7k |
| Janney Montgomery Scott LLC 0.02% of their portfolio | 174.7k $9.0m | Reduced -10.9k |
| LBP AM SA 0.11% of their portfolio | 173.4k $8.9m | Reduced -93.0k |
| Fisher Asset Management, LLC 0.00% of their portfolio | 171.8k $8.8m | Added +31.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 164.7k $8.5m | Added +13.1k |
| Candriam S.C.A. 0.04% of their portfolio | 161.7k $8.3m | Added +11.5k |
| LPL Financial LLC 0.00% of their portfolio | 160.8k $8.3m | Added +9.9k |
| MACKENZIE FINANCIAL CORP 0.01% of their portfolio | 159.4k $8.2m | Added +114.9k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 153.2k $7.9m | Reduced -52.4k |
| TRUIST FINANCIAL CORP 0.01% of their portfolio | 149.7k $7.7m | Reduced -1.5k |
| SG Americas Securities, LLC 0.03% of their portfolio | 144.1k $7.4m | Added +81.7k |
| Sanctuary Advisors, LLC 0.02% of their portfolio | 141.9k $6.5m | Added +74.7k |
| COMMERCE BANK 0.04% of their portfolio | 138.2k $7.1m | Added +161 |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 136.9k $7.0m | Added +34.9k |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 136.9k $7.0m | Reduced -4.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 133.0k $6.8m | Added +572 |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 0.06% of their portfolio | 126.6k $6.5m | Added +8.7k |
| GENEVA CAPITAL MANAGEMENT LLC 0.11% of their portfolio | 126.3k $6.5m | Reduced -6.1k |
| NewEdge Wealth, LLC 0.09% of their portfolio | 125.3k $6.1m | Reduced -2.8k |
| Concurrent Investment Advisors, LLC 0.11% of their portfolio | 125.1k $6.4m | Reduced -589 |
| Walleye Trading LLC 0.10% of their portfolio | 124.2k $6.4m | Reduced -148.1k |
| Vestmark Advisory Solutions, Inc. 0.12% of their portfolio | 124.0k $6.4m | Reduced -12.3k |
| Jain Global LLC 0.08% of their portfolio | 123.8k $6.4m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 119.8k $6.2m | Reduced -71.2k |
| Jefferies Financial Group Inc. 0.06% of their portfolio | 118.7k $6.1m | New |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 111.8k $5.8m | Added +24.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 110.0k $5.7m | Added +8.2k |