Vault-13

BENTLEY SYS INC BSY 0.375 07.01.27

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

37 institutional holders -4 vs Q1 2026
17,100,00017.1m shares reported held*
$541.1mreported value*
4 new 12 added 10 reduced 8 sold out net bought ≈ $4.4m (+1.6m 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 ($4.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $31.88.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 56Q4 22: 58Q1 23: 62Q2 23: 63Q3 23: 58Q4 23: 57Q1 24: 63Q2 24: 67Q3 24: 61Q4 24: 56Q1 25: 58Q2 25: 59Q3 25: 50Q4 25: 46Q1 26: 41Q2 26: 3737Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202256
Q4 202258
Q1 202362
Q2 202363
Q3 202358
Q4 202357
Q1 202463
Q2 202467
Q3 202461
Q4 202456
Q1 202558
Q2 202559
Q3 202550
Q4 202546
Q1 202641
Q2 202637

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 20 bought or addedQ3 24: 30 cut or sold outQ4 24: 17 bought or addedQ4 24: 21 cut or sold outQ4 24Q1 25: 22 bought or addedQ1 25: 24 cut or sold outQ2 25: 23 bought or addedQ2 25: 17 cut or sold outQ2 25Q3 25: 16 bought or addedQ3 25: 31 cut or sold outQ4 25: 20 bought or addedQ4 25: 20 cut or sold outQ4 25Q1 26: 20 bought or addedQ1 26: 20 cut or sold outQ2 26: 16 bought or addedQ2 26: 18 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242030
Q4 20241721
Q1 20252224
Q2 20252317
Q3 20251631
Q4 20252020
Q1 20262020
Q2 20261618

Biggest buyers

TORONTO DOMINION BANK New +11,225,000+11.2m
LORD, ABBETT & CO. LLC Added +9,177,000+9.2m
OAKTREE CAPITAL MANAGEMENT LP Added +7,269,000+7.3m
JPMORGAN CHASE & CO Added +4,766,000+4.8m
LBP AM SA New +4,300,000+4.3m
CAPSTONE INVESTMENT ADVISORS, LLC Added +3,781,000+3.8m
BlackRock, Inc. Added +2,500,000+2.5m
Aequim Alternative Investments LP Added +2,000,000+2.0m
TRUIST FINANCIAL CORP New +1,600,000+1.6m
STATE STREET CORP Added +1,000,000+1.0m

Biggest sellers

DeepCurrents Investment Group LLC Sold out -18,500,000-18.5m
FMR LLC Sold out -6,809,000-6.8m
Opti Capital Management, LP Reduced -5,500,000-5.5m
Verition Fund Management LLC Reduced -2,500,000-2.5m
CITIGROUP INC Reduced -2,145,000-2.1m
ROYAL BANK OF CANADA Sold out -2,000,000-2.0m
BANK OF AMERICA CORP /DE/ Sold out -1,636,000-1.6m
UBS Group AG Reduced -1,217,000-1.2m
Balyasny Asset Management L.P. Reduced -1,100,000-1.1m
ABSOLUTE INVESTMENT ADVISERS, LLC Reduced -1,000,000-1.0m

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 0.99% of their portfolio NEW YORK, NY 72,595,00072.6m $70.0m $70.0m 0.99% Unchanged
2 OAKTREE CAPITAL MANAGEMENT LP 0.98% of their portfolio LOS ANGELES, CA 54,264,00054.3m $52.2m $52.2m 0.98% Added +7.3m +7,269,000
3 Man Group plc 0.08% of their portfolio LONDON, X0 47,330,00047.3m $45.5m $45.5m 0.08% Reduced -486.0k -486,000
4 CAPSTONE INVESTMENT ADVISORS, LLC 0.30% of their portfolio NEW YORK, NY 45,543,00045.5m $43.8m $43.8m 0.30% Added +3.8m +3,781,000
5 Aequim Alternative Investments LP 0.66% of their portfolio MILL VALLEY, CA 44,500,00044.5m $42.8m $42.8m 0.66% Added +2.0m +2,000,000
6 Opti Capital Management, LP 2.38% of their portfolio New York, NY 40,500,00040.5m $38.9m $38.9m 2.38% Reduced -5.5m -5,500,000
7 READYSTATE ASSET MANAGEMENT LP 1.56% of their portfolio CHICAGO, IL 40,000,00040.0m $38.5m $38.5m 1.56% Unchanged
8 Davidson Kempner Capital Management LP 0.46% of their portfolio New York, NY 30,000,00030.0m $28.8m $28.8m 0.46% Unchanged
9 BlackRock, Inc. 0.00% of their portfolio New York, NY 29,815,00029.8m $28.6m $28.6m 0.00% Added +2.5m +2,500,000
10 Balyasny Asset Management L.P. 0.05% of their portfolio Chicago, IL 29,500,00029.5m $28.3m $28.3m 0.05% Reduced -1.1m -1,100,000
11 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 20,051,00020.1m $19.3m $19.3m 0.00% Added +4.8m +4,766,000
12 LORD, ABBETT & CO. LLC 0.05% of their portfolio JERSEY CITY, NJ 17,177,00017.2m $16.5m $16.5m 0.05% Added +9.2m +9,177,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,753,00013.8m $13.2m $13.2m 0.00% Added +1.0m +1,000,000
14 ABSOLUTE INVESTMENT ADVISERS, LLC 1.07% of their portfolio ROSEMARY BEACH, FL 11,500,00011.5m $11.0m $11.0m 1.07% Reduced -1.0m -1,000,000
15 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 11,225,00011.2m $10.7m $10.7m 0.02% New
16 Verition Fund Management LLC 0.05% of their portfolio GREENWICH, CT 7,500,0007.5m $7.2m $7.2m 0.05% Reduced -2.5m -2,500,000
17 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 6,700,0006.7m $6.4m $6.4m 0.01% Added +89.0k +89,000
18 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.68% of their portfolio Miamisburg, OH 6,000,0006.0m $5.8m $5.8m 0.68% Unchanged
19 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 6,000,0006.0m $57.7k $57.7k 0.00% Reduced -64.0k -64,000
20 PALISADE CAPITAL MANAGEMENT, LP 0.23% of their portfolio FORT LEE, NJ 5,416,0005.4m $5.2m $5.2m 0.23% Unchanged
21 WATER ISLAND CAPITAL LLC 0.51% of their portfolio NEW YORK, NY 5,000,0005.0m $4.8m $4.8m 0.51% Unchanged
22 LBP AM SA 0.04% of their portfolio Paris, I0 4,300,0004.3m $4.1m $4.1m 0.04% New
23 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 4,000,0004.0m $3.8m $3.8m 0.01% Added +1.0m +1,000,000
24 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 3,500,0003.5m $3.3m $3.3m 0.00% Unchanged
25 ADVENT CAPITAL MANAGEMENT /DE/ 0.04% of their portfolio NEW YORK, NY 1,980,0002.0m $1.9m $1.9m 0.04% Unchanged
26 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 1,600,0001.6m $1.5m $1.5m 0.00% New
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,391,0001.4m $1.3m $1.3m 0.00% Reduced -2.1m -2,145,000
28 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,101,0001.1m $1.1m $1.1m 0.00% Added +479.0k +479,000
29 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,000,0001.0m $962.3k $962.3k 0.00% Added +500.0k +500,000
30 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 414,000414.0k $399.5k $399.5k 0.00% New
31 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 400,000400.0k $383.0k $383.0k 0.00% Unchanged
32 UBS Group AG 0.00% of their portfolio ZURICH, V8 309,000309.0k $296.3k $296.3k 0.00% Reduced -1.2m -1,217,000
33 Kohlberg Kravis Roberts & Co. L.P. 0.00% of their portfolio NEW YORK, NY 291,000291.0k $279.7k $279.7k 0.00% Reduced -514.0k -514,000
34 ZAZOVE ASSOCIATES LLC 0.02% of their portfolio INCLINE VILLAGE, NV 260,000260.0k $249.7k $249.7k 0.02% Unchanged
35 Ares Systematic Credit Ltd 0.06% of their portfolio LONDON, X0 100,000100.0k $96.1k $96.1k 0.06% Reduced -900.0k -900,000
36 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 10,20010.2k $981.0k $981.0k 0.00% Unchanged
37 Candriam S.C.A. 0.03% of their portfolio STRASSEN, N4 7,2007.2k $6.9m $6.9m 0.03% Added +1.7k +1,700