Vault-13

BENTLEY SYS INC BSY 0.125 01.15.26

NOTE 0.125% 1/1 · US DOMESTIC · CUSIP 08265TAB5

58 institutional holders +4 vs Q4 2022
45,625,02445.6m shares reported held*
$661.9mreported value*
11 new 20 added 11 reduced 7 sold out net bought ≈ $45.7m (+8.9m shares)

* 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. Holder counts are more reliable. Implied quarter-end price ≈ $14.51.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 60Q4 22: 54Q1 23: 5858Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202260
Q4 202254
Q1 202358

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 22: 20 bought or addedQ4 22: 32 cut or sold outQ4 22Q1 23: 31 bought or addedQ1 23: 18 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222032
Q1 20233118

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6mQ3 22 calls: $0Q3 22 puts: $4.8mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$4.8m—
Q4 2022$0$0—
Q1 2023$0$0—

Biggest buyers

LORD, ABBETT & CO. LLC Added +12,500,000+12.5m
LORD, ABBETT & CO. LLC Added +12,500,000+12.5m
VOYA INVESTMENT MANAGEMENT LLC Added +11,110,000+11.1m
Nuveen Asset Management, LLC New +10,721,000+10.7m
FMR LLC Added +6,900,000+6.9m
Aequim Alternative Investments LP New +6,300,000+6.3m
BlackRock Inc. Added +5,220,000+5.2m
WELLS FARGO & COMPANY/MN Added +5,142,000+5.1m
READYSTATE ASSET MANAGEMENT LP Added +3,860,000+3.9m
BANK OF MONTREAL /CAN/ New +3,550,000+3.5m

Biggest sellers

BNP PARIBAS FINANCIAL MARKETS Reduced -6,544,000-6.5m
D. E. Shaw & Co., Inc. Sold out -6,396,000-6.4m
Aequim Alternative Investments LP Sold out -6,300,000-6.3m
BANK OF AMERICA CORP /DE/ Reduced -4,701,000-4.7m
WOLVERINE ASSET MANAGEMENT LLC Reduced -4,500,000-4.5m
AVIVA PLC Sold out -4,000,000-4.0m
Man Group plc Reduced -3,500,000-3.5m
STATE STREET CORP Reduced -2,250,000-2.2m
EDMOND DE ROTHSCHILD HOLDING S.A. Reduced -2,170,000-2.2m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -1,521,000-1.5m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.17% of their portfolio ATLANTA, GA 170,375,000170.4m $162.2m $162.2m 0.17% Added +11.1m +11,110,000
2 WOLVERINE ASSET MANAGEMENT LLC 1.73% of their portfolio CHICAGO, IL 102,812,000102.8m $97.7m $97.7m 1.73% Reduced -4.5m -4,500,000
3 Calamos Advisors LLC 0.21% of their portfolio NAPERVILLE, IL 43,836,00043.8m $41.6m $41.6m 0.21% Unchanged
4 LORD, ABBETT & CO. LLC 0.06% of their portfolio JERSEY CITY, NJ 33,820,00033.8m $32.1m $32.1m 0.06% Added +12.5m +12,500,000
5 LORD, ABBETT & CO. LLC 0.06% of their portfolio JERSEY CITY, NJ 33,820,00033.8m $32.1m $32.1m 0.06% Added +12.5m +12,500,000
6 ADVENT CAPITAL MANAGEMENT /DE/ 0.42% of their portfolio NEW YORK, NY 23,255,00023.3m $22.1m $22.1m 0.42% Reduced -1.5m -1,521,000
7 LMR Partners LLP 0.38% of their portfolio LONDON, X0 21,786,00021.8m $20.8m $20.8m 0.38% Added +786.0k +786,000
8 BlackRock Inc. 0.00% of their portfolio New York, NY 21,160,00021.2m $20.0m $20.0m 0.00% Added +5.2m +5,220,000
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 18,780,00018.8m $17.8m $17.8m 0.00% Added +225.0k +225,000
10 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 17,999,00018.0m $17.1m $17.1m 0.01% Added +5.1m +5,142,000
11 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 13,827,00013.8m $13.1m $13.1m 0.01% Reduced -100.0k -100,000
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,810,00013.8m $13.1m $13.1m 0.00% Reduced -2.2m -2,250,000
13 FMR LLC 0.00% of their portfolio BOSTON, MA 13,800,00013.8m $13.1m $13.1m 0.00% Added +6.9m +6,900,000
14 SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio London, X0 13,749,00013.7m $13.0m $13.0m 0.02% Unchanged
15 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 10,721,00010.7m $10.2m $10.2m 0.00% New
16 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 9,617,0009.6m $9.1m $9.1m 0.00% Added +800.0k +800,000
17 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 9,517,0009.5m $9.0m $9.0m 0.00% Added +432.0k +432,000
18 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 8,924,0008.9m $8.5m $8.5m 0.00% Added +1.0m +1,000,000
19 SSI INVESTMENT MANAGEMENT LLC 0.58% of their portfolio Los Angeles, CA 8,658,0008.7m $8.2m $8.2m 0.58% Added +176.0k +176,000
20 RWC Asset Management LLP 0.23% of their portfolio LONDON, X0 8,000,0008.0m $7.6m $7.6m 0.23% Reduced -500.0k -500,000
21 Man Group plc 0.03% of their portfolio LONDON, X0 7,700,0007.7m $7.3m $7.3m 0.03% Reduced -3.5m -3,500,000
22 MacKay Shields LLC 0.20% of their portfolio New York, NY 7,694,0007.7m $7.3m $7.3m 0.20% Added +245.0k +245,000
23 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 6,750,0006.8m $6.4m $6.4m 0.01% Unchanged
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6,492,0006.5m $6.1m $6.1m 0.00% Added +1.1m +1,050,000
25 Aequim Alternative Investments LP 0.19% of their portfolio MILL VALLEY, CA 6,300,0006.3m $6.0m $6.0m 0.19% New
26 Amundi 0.00% of their portfolio Paris, I0 6,000,0006.0m $5.7m $5.7m 0.00% Unchanged
27 READYSTATE ASSET MANAGEMENT LP 0.69% of their portfolio CHICAGO, IL 5,860,0005.9m $5.6m $5.6m 0.69% Added +3.9m +3,860,000
28 SHENKMAN CAPITAL MANAGEMENT INC 0.40% of their portfolio NEW YORK, NY 5,546,0005.5m $5.2m $5.2m 0.40% Added +272.0k +272,000
29 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.69% of their portfolio Miamisburg, OH 5,000,0005.0m $4.7m $4.7m 0.69% Unchanged
30 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 5,000,0005.0m $4.7m $4.7m 0.02% Unchanged
31 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,550,0003.5m $3.3m $3.3m 0.00% New
32 Liberty Mutual Group Asset Management Inc. 0.67% of their portfolio Boston, MA 3,100,0003.1m $2.9m $2.9m 0.67% Added +200.0k +200,000
33 PALISADE CAPITAL MANAGEMENT, LP 0.08% of their portfolio FORT LEE, NJ 3,000,0003.0m $2.8m $2.8m 0.08% New
34 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 2,470,0002.5m $2.3m $2.3m 0.01% Reduced -6.5m -6,544,000
35 WESTWOOD HOLDINGS GROUP INC 0.02% of their portfolio DALLAS, TX 2,400,0002.4m $2.3m $2.3m 0.02% Unchanged
36 EDMOND DE ROTHSCHILD HOLDING S.A. 0.04% of their portfolio CHAMBESY, V8 2,060,0002.1m $2.0m $2.0m 0.04% Reduced -2.2m -2,170,000
37 CAMDEN ASSET MANAGEMENT L P /CA 0.06% of their portfolio Los Angeles, CA 2,000,0002.0m $1.9m $1.9m 0.06% New
38 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,000,0002.0m $1.9m $1.9m 0.00% New
39 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,949,0001.9m $1.8m $1.8m 0.00% Reduced -4.7m -4,701,000
40 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 1,800,0001.8m $1.7m $1.7m 0.00% Added +200.0k +200,000
41 Quaero Capital S.A. 0.83% of their portfolio GENEVE, V8 1,200,0001.2m $1.1m $1.1m 0.83% Unchanged
42 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 1,011,0001.0m $959.5k $959.5k 0.00% Added +368.0k +368,000
43 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 909,000909.0k $835.6k $835.6k 0.00% New
44 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 750,000750.0k $711.8k $711.8k 0.00% Added +500.0k +500,000
45 LBP AM SA 0.02% of their portfolio Paris, I0 720,000720.0k $683.5k $683.5k 0.02% Unchanged
46 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 700,000700.0k $663.6k $663.6k 0.00% Unchanged
47 KBC Group NV 0.00% of their portfolio Brussels, C9 300,000300.0k $285.0k $285.0k 0.00% Unchanged
48 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 238,000238.0k $226.6k $226.6k 0.00% Unchanged
49 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 200,000200.0k $189.4k $189.4k 0.00% Unchanged
50 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 174,000174.0k $164.8k $164.8k 0.01% Unchanged
51 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 18,00018.0k $17.0k $17.0k 0.00% New
52 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 16,00016.0k $15.0k $15.0k 0.00% Unchanged
53 Goldstein Advisors, LLC 0.00% of their portfolio Madison, WI 16,00016.0k $15.2k $15.2k 0.00% Reduced -5.0k -5,000
54 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 12,00012.0k $11.4k $11.4k 0.00% New
55 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 11,58311.6k $497.6k $497.6k 0.00% New
56 Context Capital Management, LLC 0.32% of their portfolio LAJOLLA, CA 4,0094.0k $3.8m $3.8m 0.32% New
57 LAFFER TENGLER INVESTMENTS, INC. 0.26% of their portfolio Scottsdale, AZ 1,0241.0k $971.9k $971.9k 0.26% Reduced -18 -18
58 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged