Vault-13

BENTLEY SYS INC BSY 0.125 01.15.26

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

70 institutional holders +12 vs Q2 2023
59,855,85859.9m shares reported held*
$669.8mreported value*
14 new 15 added 21 reduced 3 sold out net sold ≈ $23.1m (-6.6m 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 ≈ $11.19.

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 60Q4 22: 54Q1 23: 58Q2 23: 58Q3 23: 7070Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 202260
Q4 202254
Q1 202358
Q2 202358
Q3 202370

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 23Q2 23: 23 bought or addedQ2 23: 24 cut or sold outQ2 23Q3 23: 29 bought or addedQ3 23: 24 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222032
Q1 20233118
Q2 20232324
Q3 20232924

Biggest buyers

ADVENT CAPITAL MANAGEMENT /DE/ Added +22,008,000+22.0m
Nuveen Asset Management, LLC New +20,000,000+20.0m
CSS LLC/IL New +11,909,000+11.9m
Man Group plc Added +6,500,000+6.5m
MIZUHO SECURITIES USA LLC New +6,500,000+6.5m
MORGAN STANLEY Added +5,430,000+5.4m
JANE STREET GROUP, LLC New +4,778,000+4.8m
SHENKMAN CAPITAL MANAGEMENT INC Added +4,271,000+4.3m
BANK OF MONTREAL /CAN/ New +3,000,000+3.0m
JPMORGAN CHASE & CO Added +2,605,000+2.6m

Biggest sellers

WOLVERINE ASSET MANAGEMENT LLC Reduced -52,500,000-52.5m
LORD, ABBETT & CO. LLC Reduced -19,798,000-19.8m
LORD, ABBETT & CO. LLC Reduced -19,798,000-19.8m
VOYA INVESTMENT MANAGEMENT LLC Reduced -8,275,000-8.3m
WELLS FARGO & COMPANY/MN Reduced -7,016,000-7.0m
AVIVA PLC Sold out -3,000,000-3.0m
RWC Asset Management LLP Reduced -2,500,000-2.5m
DEUTSCHE BANK AG\ Reduced -2,000,000-2.0m
ROYAL BANK OF CANADA Reduced -1,744,000-1.7m
BARCLAYS PLC Sold out -1,259,000-1.3m

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio ATLANTA, GA 169,600,000169.6m $164.5m $164.5m 0.18% Reduced -8.3m -8,275,000
2 Calamos Advisors LLC 0.23% of their portfolio NAPERVILLE, IL 43,836,00043.8m $42.6m $42.6m 0.23% Unchanged
3 ADVENT CAPITAL MANAGEMENT /DE/ 0.98% of their portfolio NEW YORK, NY 43,199,00043.2m $41.9m $41.9m 0.98% Added +22.0m +22,008,000
4 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 36,357,00036.4m $35.2m $35.2m 0.07% Reduced -19.8m -19,798,000
5 LORD, ABBETT & CO. LLC 0.07% of their portfolio JERSEY CITY, NJ 36,357,00036.4m $35.2m $35.2m 0.07% Reduced -19.8m -19,798,000
6 BlackRock Inc. 0.00% of their portfolio New York, NY 28,020,00028.0m $27.0m $27.0m 0.00% Added +750.0k +750,000
7 LMR Partners LLP 0.52% of their portfolio LONDON, X0 24,000,00024.0m $23.2m $23.2m 0.52% Unchanged
8 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 21,397,00021.4m $20.8m $20.8m 0.00% Added +2.6m +2,605,000
9 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 20,000,00020.0m $19.4m $19.4m 0.01% New
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 18,160,00018.2m $17.7m $17.7m 0.00% Added +750.0k +750,000
11 WOLVERINE ASSET MANAGEMENT LLC 0.30% of their portfolio CHICAGO, IL 16,606,00016.6m $16.1m $16.1m 0.30% Reduced -52.5m -52,500,000
12 SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio London, X0 12,724,00012.7m $12.4m $12.4m 0.02% Reduced -525.0k -525,000
13 CSS LLC/IL 0.96% of their portfolio CHICAGO, IL 11,909,00011.9m $11.6m $11.6m 0.96% New
14 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,800,00011.8m $11.4m $11.4m 0.00% Added +5.4m +5,430,000
15 Man Group plc 0.04% of their portfolio LONDON, X0 11,800,00011.8m $11.5m $11.5m 0.04% Added +6.5m +6,500,000
16 SHENKMAN CAPITAL MANAGEMENT INC 0.85% of their portfolio NEW YORK, NY 11,518,00011.5m $11.3m $11.3m 0.85% Added +4.3m +4,271,000
17 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 11,092,00011.1m $10.7m $10.7m 0.00% Reduced -235.0k -235,000
18 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 10,924,00010.9m $10.5m $10.5m 0.00% Unchanged
19 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 9,348,0009.3m $9.1m $9.1m 0.00% Reduced -7.0m -7,016,000
20 MacKay Shields LLC 0.20% of their portfolio New York, NY 8,044,0008.0m $7.4m $7.4m 0.20% Added +370.0k +370,000
21 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 7,837,0007.8m $7.6m $7.6m 0.00% Reduced -2.0m -2,000,000
22 SSI INVESTMENT MANAGEMENT LLC 0.61% of their portfolio Los Angeles, CA 7,679,0007.7m $7.4m $7.4m 0.61% Reduced -957.0k -957,000
23 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 6,750,0006.8m $6.6m $6.6m 0.01% Unchanged
24 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 6,717,0006.7m $6.5m $6.5m 0.00% Reduced -1.7m -1,744,000
25 FMR LLC 0.00% of their portfolio BOSTON, MA 6,525,0006.5m $6.3m $6.3m 0.00% Reduced -375.0k -375,000
26 MIZUHO SECURITIES USA LLC 0.19% of their portfolio NEW YORK, NY 6,500,0006.5m $6.3m $6.3m 0.19% New
27 BlueCrest Capital Management Ltd 0.97% of their portfolio ST HELIER, Y9 6,404,0006.4m $6.2m $6.2m 0.97% Unchanged
28 Amundi 0.00% of their portfolio Paris, I0 6,000,0006.0m $5.9m $5.9m 0.00% Unchanged
29 RWC Asset Management LLP 0.35% of their portfolio LONDON, X0 5,500,0005.5m $5.3m $5.3m 0.35% Reduced -2.5m -2,500,000
30 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.70% of their portfolio Miamisburg, OH 5,000,0005.0m $4.8m $4.8m 0.70% Unchanged
31 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 5,000,0005.0m $4.9m $4.9m 0.01% Unchanged
32 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 4,778,0004.8m $4.7m $4.7m 0.01% New
33 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 4,251,0004.3m $4.1m $4.1m 0.01% Added +1.8m +1,751,000
34 Liberty Mutual Group Asset Management Inc. 0.83% of their portfolio Boston, MA 3,100,0003.1m $3.0m $3.0m 0.83% Unchanged
35 PALISADE CAPITAL MANAGEMENT, LP 0.08% of their portfolio FORT LEE, NJ 3,075,0003.1m $3.0m $3.0m 0.08% Reduced -16.0k -16,000
36 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,000,0003.0m $3.1m $3.1m 0.00% New
37 CAMDEN ASSET MANAGEMENT L P /CA 0.10% of their portfolio Los Angeles, CA 2,850,0002.9m $2.8m $2.8m 0.10% Added +850.0k +850,000
38 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 2,365,0002.4m $2.3m $2.3m 0.00% New
39 EDMOND DE ROTHSCHILD HOLDING S.A. 0.04% of their portfolio CHAMBESY, V8 2,060,0002.1m $2.0m $2.0m 0.04% Unchanged
40 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 1,800,0001.8m $1.8m $1.8m 0.00% Unchanged
41 Quaero Capital S.A. 1.49% of their portfolio GENEVE, V8 1,600,0001.6m $1.6m $1.6m 1.49% Added +400.0k +400,000
42 JUPITER ASSET MANAGEMENT LTD 0.02% of their portfolio London, X0 1,500,0001.5m $1.5m $1.5m 0.02% Added +500.0k +500,000
43 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,406,0001.4m $1.4m $1.4m 0.00% New
44 Nicholas Investment Partners, LP 0.10% of their portfolio RANCHO SANTA FE, CA 1,400,0001.4m $1.4m $1.4m 0.10% Unchanged
45 Jefferies Financial Group Inc. 0.03% of their portfolio NEW YORK, NY 1,309,0001.3m $1.3m $1.3m 0.03% Reduced -240.0k -240,000
46 LBP AM SA 0.03% of their portfolio Paris, I0 1,220,0001.2m $1.2m $1.2m 0.03% Unchanged
47 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 1,100,0001.1m $1.1m $1.1m 0.01% New
48 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,023,0001.0m $987.2k $987.2k 0.00% New
49 WESTWOOD HOLDINGS GROUP INC 0.01% of their portfolio DALLAS, TX 1,000,0001.0m $973.0k $973.0k 0.01% New
50 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 550,000550.0k $536.2k $536.2k 0.00% Unchanged
51 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 544,000544.0k $562.7k $562.7k 0.00% Reduced -365.0k -365,000
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 373,000373.0k $359.9k $359.9k 0.00% Reduced -647.0k -647,000
53 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 350,000350.0k $340.1k $340.1k 0.00% Reduced -400.0k -400,000
54 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 308,000308.0k $298.8k $298.8k 0.00% Added +70.0k +70,000
55 KBC Group NV 0.00% of their portfolio Brussels, C9 200,000200.0k $194.0k $194.0k 0.00% Reduced -100.0k -100,000
56 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 180,000180.0k $173.7k $173.7k 0.00% Reduced -1.0m -1,014,000
57 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 174,000174.0k $167.9k $167.9k 0.01% Unchanged
58 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 75,00075.0k $72.4k $72.4k 0.00% Reduced -125.0k -125,000
59 NOMURA HOLDINGS INC 0.03% of their portfolio TOKYO, M0 50,41450.4k $2.5m $2.5m 0.03% New
60 SG Americas Securities, LLC 0.06% of their portfolio NEW YORK, NY 46,71046.7k $4.6m $4.6m 0.06% New
61 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 38,00038.0k $36.7k $36.7k 0.00% Unchanged
62 COMERICA BANK 0.00% of their portfolio DALLAS, TX 21,00021.0k $20.3k $20.3k 0.00% New
63 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 19,00019.0k $18.0k $18.0k 0.00% First filing
64 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 18,00018.0k $17.0k $17.0k 0.00% Added +2.0k +2,000
65 Goldstein Advisors, LLC 0.00% of their portfolio Madison, WI 16,00016.0k $15.5k $15.5k 0.00% Unchanged
66 OFI INVEST ASSET MANAGEMENT 0.28% of their portfolio ISSY LES MOULINEAUX, I0 8,0008.0k $7.8m $7.8m 0.28% New
67 Context Capital Management, LLC 0.50% of their portfolio LAJOLLA, CA 6,5006.5k $6.3m $6.3m 0.50% Added +3.5k +3,500
68 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 6,0006.0k $5.8k $5.8k 0.00% Unchanged
69 LAFFER TENGLER INVESTMENTS, INC. 0.25% of their portfolio Scottsdale, AZ 858858 $833.5k $833.5k 0.25% Reduced -75 -75
70 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged