13FPulse
BS

BSY BENTLEY SYSTEMS INC-CLASS B

2026Q2 · CUSIP 08265T208 · Enterprise Software · Sector: Technology

Normal

Fund flows are within the usual range

Funds that own it
388
Institutions that reported holding it to the SEC
Net decrease in holders
53
Last quarter 441 → now 388
How unusual is that
Bottom 20%
Stronger than only 2% of US stocks
What the filings say, in one paragraph

388 funds held BSY at the end of 2026Q2, down 53 from the quarter before. Fund flows are within the usual range — nothing unusual. On the business itself, revenue over the last 12 months was $1.6B(YoY +12.8%), the P/E is 39.6x, return on equity is 24.1%. BSY has had 9 buying rushes in its history, and the price moved -8.1% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Technology sector, tagged Enterprise Software.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2020Q4: holders=82 2021Q1: holders=132 2021Q2: holders=225 2021Q3: holders=262 2021Q4: holders=254 2022Q1: holders=260 2022Q2: holders=260 2022Q3: holders=286 2022Q4: holders=312 2023Q1: holders=317 2023Q2: holders=342 2023Q3: holders=341 2023Q4: holders=384 2024Q1: holders=379 2024Q2: holders=421 2024Q3: holders=414 2024Q4: holders=434 2025Q1: holders=435 2025Q2: holders=452 2025Q3: holders=467 2025Q4: holders=491 2026Q1: holders=441 2026Q2: holders=388 -93 -46.5 +0 +46.5 +93 73295516 20Q421Q221Q422Q222Q423Q223Q424Q224Q425Q225Q426Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 9 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2025Q2 Top 20% -19.4% -36.0%
2024Q2 Top 5% -3.7% -4.9%
2023Q4 Top 20% +6.3% -5.2%
2023Q2 Top 10% +13.9% +12.0%
2022Q4 Top 20% +13.8% +12.4%
2022Q3 Top 5% +4.0% +17.1%
2021Q3 Top 5% -36.0% -45.3%
2021Q2 Top 1% in the market -6.5% -36.2%
2021Q1 Top 5% +21.1% +13.2%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
192
Change in large funds
+2
Total value they hold
$4.7B
Funds buying for the first time
61
Funds that sold out entirely
114
Price change that quarter
+7.1%
Funds holding puts (bearish)
4
Funds holding calls (bullish)
7

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
39.6
EPS (TTM)
$0.90
EPS YoY
+15.4%
Revenue (TTM)
$1.6B
Revenue YoY
+12.8%
Net margin
18.1%
ROE
24.1%
Debt ratio
66.5%
FCF (TTM)
$498M
Dividend (TTM)
$0.28
Quarterly Revenue & EPS
2021-09-30: EPS -0.16 2021-12-31: EPS 0.14 2022-03-31: EPS 0.18 2022-06-30: EPS 0.17 2022-09-30: EPS 0.12 2022-12-31: EPS 0.08 2023-03-31: EPS 0.14 2023-06-30: EPS 0.15 2023-09-30: EPS 0.16 2023-12-31: EPS 0.55 2024-03-31: EPS 0.22 2024-06-30: EPS 0.22 2024-09-30: EPS 0.13 2024-12-31: EPS 0.15 2025-03-31: EPS 0.28 2025-06-30: EPS 0.22 2025-09-30: EPS 0.18 2025-12-31: EPS 0.17 2026-03-31: EPS 0.30 2026-06-30: EPS 0.25 0M 212M 424M $M -0.18 0.21 0.61 2019202020212022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
4Y median 61 33 81 129 20222023202420252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
0K108M216M 20192020202120222023202420252026
Latest quarter $188M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

Email me the next update

2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.