Vault-13

BENTLEY SYS INC BSY 0.375 07.01.27

NOTE 0.375% 7/0 · US DOMESTIC · CUSIP 08265TAD1

67 institutional holders +4 vs Q1 2024
22,568,31422.6m shares reported held*
$503.7mreported value*
17 new 15 added 18 reduced 13 sold out net sold ≈ $4.6m (-10.2m 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 ($3.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $22.46.

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 56Q4 22: 58Q1 23: 62Q2 23: 63Q3 23: 58Q4 23: 57Q1 24: 63Q2 24: 6767Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202256
Q4 202258
Q1 202362
Q2 202363
Q3 202358
Q4 202357
Q1 202463
Q2 202467

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 26 bought or addedQ4 22: 21 cut or sold outQ4 22Q1 23: 26 bought or addedQ1 23: 23 cut or sold outQ2 23: 22 bought or addedQ2 23: 25 cut or sold outQ2 23Q3 23: 21 bought or addedQ3 23: 21 cut or sold outQ4 23: 20 bought or addedQ4 23: 25 cut or sold outQ4 23Q1 24: 29 bought or addedQ1 24: 17 cut or sold outQ2 24: 32 bought or addedQ2 24: 31 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20222621
Q1 20232623
Q2 20232225
Q3 20232121
Q4 20232025
Q1 20242917
Q2 20243231

Biggest buyers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +32,200,000+32.2m
AQR Arbitrage LLC New +24,415,000+24.4m
SILVERBACK ASSET MANAGEMENT LLC New +11,500,000+11.5m
Flow State Investments, L.P. New +11,000,000+11.0m
Paloma Partners Management Co New +9,221,000+9.2m
LMR Partners LLP Added +7,500,000+7.5m
RWC Asset Management LLP New +6,000,000+6.0m
DeepCurrents Investment Group LLC Added +6,000,000+6.0m
ADVENT CAPITAL MANAGEMENT /DE/ Added +5,621,000+5.6m
Shaolin Capital Management LLC New +4,872,000+4.9m

Biggest sellers

MILLENNIUM MANAGEMENT LLC Reduced -46,234,000-46.2m
Magnetar Financial LLC Sold out -29,000,000-29.0m
III Capital Management Sold out -13,700,000-13.7m
SHENKMAN CAPITAL MANAGEMENT INC Sold out -11,024,000-11.0m
Man Group plc Reduced -9,950,000-9.9m
MIZUHO SECURITIES USA LLC Sold out -8,443,000-8.4m
Aequim Alternative Investments LP Reduced -7,500,000-7.5m
VOYA INVESTMENT MANAGEMENT LLC Reduced -5,000,000-5.0m
READYSTATE ASSET MANAGEMENT LP Reduced -5,000,000-5.0m
LAZARD ASSET MANAGEMENT LLC Sold out -4,000,000-4.0m

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.10% of their portfolio BALA CYNWYD, PA 66,908,00066.9m $59.7m $59.7m 0.10% Added +32.2m +32,200,000
2 VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio ATLANTA, GA 43,905,00043.9m $39.4m $39.4m 0.04% Reduced -5.0m -5,000,000
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.44% of their portfolio NEW YORK, NY 31,061,00031.1m $27.9m $27.9m 0.44% Added +4.1m +4,061,000
4 ADVENT CAPITAL MANAGEMENT /DE/ 0.66% of their portfolio NEW YORK, NY 30,251,00030.3m $27.2m $27.2m 0.66% Added +5.6m +5,621,000
5 READYSTATE ASSET MANAGEMENT LP 1.22% of their portfolio CHICAGO, IL 28,500,00028.5m $25.6m $25.6m 1.22% Reduced -5.0m -5,000,000
6 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 27,867,00027.9m $24.9m $24.9m 0.01% Added +4.4m +4,393,000
7 AQR Arbitrage LLC 0.57% of their portfolio Greenwich, CT 24,415,00024.4m $21.9m $21.9m 0.57% New
8 BlackRock Inc. 0.00% of their portfolio New York, NY 21,060,00021.1m $18.8m $18.8m 0.00% Added +475.0k +475,000
9 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 17,500,00017.5m $15.7m $15.7m 0.02% Added +2.5m +2,500,000
10 CAPSTONE INVESTMENT ADVISORS, LLC 0.33% of their portfolio NEW YORK, NY 16,752,00016.8m $15.0m $15.0m 0.33% Added +3.0m +3,000,000
11 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 14,000,00014.0m $12.5m $12.5m 0.00% Reduced -2.0m -2,000,000
12 LMR Partners LLP 0.27% of their portfolio LONDON, X0 14,000,00014.0m $12.5m $12.5m 0.27% Added +7.5m +7,500,000
13 ABSOLUTE INVESTMENT ADVISERS, LLC 1.70% of their portfolio ROSEMARY BEACH, FL 12,824,00012.8m $11.5m $11.5m 1.70% Unchanged
14 WOLVERINE ASSET MANAGEMENT LLC 0.20% of their portfolio CHICAGO, IL 12,000,00012.0m $10.7m $10.7m 0.20% Unchanged
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 11,750,00011.8m $10.5m $10.5m 0.00% Reduced -750.0k -750,000
16 SILVERBACK ASSET MANAGEMENT LLC 1.27% of their portfolio DURHAM, NC 11,500,00011.5m $10.3m $10.3m 1.27% New
17 DeepCurrents Investment Group LLC 0.41% of their portfolio NEW YORK, NY 11,500,00011.5m $10.3m $10.3m 0.41% Added +6.0m +6,000,000
18 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 11,385,00011.4m $10.2m $10.2m 0.00% Added +1.0m +1,040,000
19 Flow State Investments, L.P. 3.13% of their portfolio CHICAGO, IL 11,000,00011.0m $9.9m $9.9m 3.13% New
20 Amundi 0.00% of their portfolio Paris, I0 10,204,00010.2m $9.1m $9.1m 0.00% Added +1.5m +1,500,000
21 Aequim Alternative Investments LP 0.33% of their portfolio MILL VALLEY, CA 10,000,00010.0m $9.0m $9.0m 0.33% Reduced -7.5m -7,500,000
22 Paloma Partners Management Co 0.71% of their portfolio GREENWICH, CT 9,221,0009.2m $8.3m $8.3m 0.71% New
23 FMR LLC 0.00% of their portfolio BOSTON, MA 8,405,0008.4m $7.5m $7.5m 0.00% Unchanged
24 RWC Asset Management LLP 0.38% of their portfolio LONDON, X0 6,000,0006.0m $5.4m $5.4m 0.38% New
25 CAMDEN ASSET MANAGEMENT L P /CA 0.14% of their portfolio Los Angeles, CA 5,012,0005.0m $4.5m $4.5m 0.14% Added +3.0m +3,012,000
26 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 5,000,0005.0m $4.5m $4.5m 0.00% Reduced -46.2m -46,234,000
27 Shaolin Capital Management LLC 0.13% of their portfolio Miami, FL 4,872,0004.9m $4.4m $4.4m 0.13% New
28 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 4,767,0004.8m $4.3m $4.3m 0.00% Reduced -2.4m -2,449,000
29 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 4,500,0004.5m $4.0m $4.0m 0.00% New
30 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 4,466,0004.5m $4.0m $4.0m 0.00% Reduced -1.0m -1,000,000
31 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,327,0004.3m $3.9m $3.9m 0.00% New
32 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,184,0004.2m $3.7m $3.7m 0.00% Added +1.1m +1,114,000
33 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 4,115,0004.1m $3.7m $3.7m 0.00% Unchanged
34 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 3,515,0003.5m $3.2m $3.2m 0.02% Added +1.8m +1,833,000
35 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 3,500,0003.5m $3.1m $3.1m 0.00% Unchanged
36 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 3,421,0003.4m $3.0m $3.0m 0.00% Unchanged
37 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,300,0003.3m $3.0m $3.0m 0.00% New
38 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 3,147,0003.1m $2.8m $2.8m 0.00% Reduced -23.0k -23,000
39 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 2,963,0003.0m $2.7m $2.7m 0.00% Reduced -1.0m -1,000,000
40 SSI INVESTMENT MANAGEMENT LLC 0.19% of their portfolio Los Angeles, CA 2,750,0002.8m $2.5m $2.5m 0.19% Unchanged
41 WATER ISLAND CAPITAL LLC 0.24% of their portfolio NEW YORK, NY 2,500,0002.5m $2.2m $2.2m 0.24% New
42 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 2,500,0002.5m $2.2m $2.2m 0.01% Unchanged
43 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,049,0002.0m $1.8m $1.8m 0.00% Reduced -1.5m -1,479,000
44 CSS LLC/IL 0.13% of their portfolio CHICAGO, IL 2,000,0002.0m $1.8m $1.8m 0.13% Unchanged
45 Man Group plc 0.00% of their portfolio LONDON, X0 1,900,0001.9m $1.7m $1.7m 0.00% Reduced -9.9m -9,950,000
46 OAKTREE CAPITAL MANAGEMENT LP 0.03% of their portfolio LOS ANGELES, CA 1,725,0001.7m $1.5m $1.5m 0.03% Unchanged
47 Parallax Volatility Advisers, L.P. 0.03% of their portfolio San Francisco, CA 1,500,0001.5m $1.3m $1.3m 0.03% New
48 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,499,0001.5m $1.3m $1.3m 0.00% Reduced -3.0m -2,983,000
49 DNCA FINANCE 0.10% of their portfolio PARIS, I0 1,350,0001.4m $1.2m $1.2m 0.10% First filing
50 ABN AMRO INVESTMENT SOLUTIONS 0.02% of their portfolio PARIS CEDEX 008, I0 1,200,0001.2m $1.1m $1.1m 0.02% Reduced -300.0k -300,000
51 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.13% of their portfolio Miamisburg, OH 1,000,0001.0m $893.0k $893.0k 0.13% New
52 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,000,0001.0m $893.0k $893.0k 0.00% New
53 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 811,000811.0k $729.8k $729.8k 0.00% Unchanged
54 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 500,000500.0k $446.5k $446.5k 0.00% Unchanged
55 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 250,000250.0k $223.8k $223.8k 0.00% New
56 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 200,000200.0k $178.5k $178.5k 0.00% Reduced -159.0k -159,000
57 KBC Group NV 0.00% of their portfolio Brussels, C9 200,000200.0k $179.0k $179.0k 0.00% Unchanged
58 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 75,00075.0k $66.7k $66.7k 0.00% Reduced -225.0k -225,000
59 NOMURA HOLDINGS INC 0.02% of their portfolio TOKYO, M0 64,55464.6k $3.2m $3.2m 0.02% Reduced -13.8k -13,764
60 Virtus Investment Advisers, LLC 0.04% of their portfolio HARTFORD, CT 50,00050.0k $44.6k $44.6k 0.04% Unchanged
61 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 22,00022.0k $19.6k $19.6k 0.00% New
62 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 12,00012.0k $10.7k $10.7k 0.00% New
63 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 10,20010.2k $913.0k $913.0k 0.01% New
64 Context Capital Management, LLC 0.16% of their portfolio LAJOLLA, CA 5,0005.0k $4.5m $4.5m 0.16% Unchanged
65 Boussard & Gavaudan Investment Management LLP 0.68% of their portfolio London, X0 4,7604.8k $4.3m $4.3m 0.68% Added +2.3k +2,260
66 Candriam S.C.A. 0.02% of their portfolio STRASSEN, N4 3,6003.6k $3.2m $3.2m 0.02% Reduced -500 -500
67 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged