BlackLine

BL • NASDAQ

BlackLine is a software - application company in the technology sector on NASDAQ, led by Owen Ryan, with a market cap of $3.5B. As of Q3 2025, 100% of shares are held by 265 institutional investors, with BlackRock, Inc. as the largest holder at 12.52%.

sole CEO and ChairmanOwen Ryan

Market Cap$3.5B

Software - Application

Technology

Employees1.8K

Websiteblackline.com

Country

United States of America

Overview

Overview of institutional ownership in BL as of Q3 2025 with a market cap of $3.3B

All Institutions

Institutions: 265
Value Held: $3.3B
Shares Held: 61.8M
Avg Position: $12.4M
Median Position: $780.0K

Hedge Funds

Hedge Funds: 30
Value Held: $328.8M
Shares Held: 6.2M
Avg Position: $11.0M
Median Position: $3.5M

Ownership Breakdown

Institutional (non-HF)

89.88%

$3.0B

Hedge Funds

10.0%

$328.8M

Retail & Other

0.114%

$3.7M

Based on market cap of $3.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$411.3M 0.01% of portfolio	12.52% 7.7M shares	Q4 2016 Held for 8y 11m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$374.8M 0.01% of portfolio	11.40% 7.1M shares	Q4 2016 Held for 8y 11m	$6.69T
CLEARLAKE CAPITAL GROUP, L.P. Private Equity	Behdad Eghbali Managing Partner	$303.3M 28.33% of portfolio	9.23% 5.7M shares	Q2 2022 Held for 3y 5m	$1.1B
FIRST MANHATTAN CO Institution	Zachary A Wydra CEO	$110.9M 0.29% of portfolio	3.37% 2.1M shares	Q4 2024 Held for 11 months	$37.6B
ICONIQ Capital, LLC Family Office	Kevin Noel Foster Managing Partner	$110.8M 1.38% of portfolio	3.37% 2.1M shares	Q4 2021 Held for 3y 11m	$8.0B
Conestoga Capital Advisors, LLC Long Only Manager	Joseph Francis Monahan Partner	$109.7M 1.76% of portfolio	3.34% 2.1M shares	Q3 2017 Held for 8y 2m	$6.2B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$109.2M 0.00% of portfolio	3.32% 2.1M shares	Q4 2016 Held for 8y 11m	$2.88T
FMR LLC Institution	-	$87.5M 0.00% of portfolio	2.66% 1.6M shares	Q1 2018 Held for 7y 8m	$1.92T
Hawk Ridge Management LLC Hedge Fund•Long/Short	David Graham Brown CIO	$87.4M 4.10% of portfolio	2.66% 1.6M shares	Q3 2023 Held for 2y 2m	$2.1B
N Neuberger Berman Group LLC Institution	-	$81.8M 0.06% of portfolio	2.49% 1.5M shares	Q1 2025 Held for 8 months	$136.94B

Net Capital Flow

Institutional buying and selling activity for BL in Q3 2025

Traded: −$146.3M
Buyers: 129
Sellers: 144
Total Bought: +$140.7M
Total Sold: −$287.0M
Avg Position: $10.5M

Biggest Buyers

Institution	Net Bought	Current Position
E Engaged Capital LLC Hedge Fund•Activist	+$24.1M +453.8K shares	$24.1M 453.8K shares
FIRST MANHATTAN CO Institution	+$13.8M +260.1K shares	$110.9M 2.1M shares
UBS Group AG Institution	+$9.7M +183.6K shares	$24.3M 457.2K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$8.9M +168.3K shares	$10.2M 191.7K shares
Ananym Capital Management, LP Hedge Fund•Activist	+$6.4M +120.6K shares	$23.5M 442.5K shares
SCHWARTZ INVESTMENT COUNSEL INC Long Only Manager	+$5.3M +100.0K shares	$36.6M 690.0K shares
GOLDMAN SACHS GROUP INC Institution	+$5.3M +99.0K shares	$35.5M 668.5K shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	+$5.0M +93.5K shares	$7.1M 134.5K shares
J JANE STREET GROUP, LLC Institution	+$4.8M +91.0K shares	$8.6M 162.0K shares
W Winton Capital Group Ltd Institution	+$4.8M +90.0K shares	$5.5M 104.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
FMR LLC Institution	−$39.9M −752.1K shares	$87.5M 1.6M shares
C Capital World Investors Institution	−$33.7M −595.0K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$18.3M −345.0K shares	$3.9M 73.5K shares
B BlackRock, Inc. Institution	−$14.9M −280.6K shares	$411.3M 7.7M shares
L LIGHT STREET CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	−$14.6M −257.5K shares	Sold Off 0 shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	−$14.3M −252.0K shares	Sold Off 0 shares
Topline Capital Management, LLC Hedge Fund•Long/Short	−$14.1M −265.4K shares	$30.3M 569.9K shares
Marshall Wace LLP Institution	−$14.0M −263.5K shares	$4.1M 76.6K shares
B BAILLIE GIFFORD & CO Institution	−$11.0M −193.7K shares	Sold Off 0 shares
AMERIPRISE FINANCIAL INC Institution	−$8.6M −162.3K shares	$17.0M 320.5K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BL in Q3 2025

New Positions: 15
New Value: $7.7M
Exited Positions: 47
Exited Value: $115.7M

New Positions

Institution	Position Value
H HUSSMAN STRATEGIC ADVISORS, INC. Institution	$2.2M 42.0K shares
Bridge City Capital, LLC Long Only Manager	$1.9M 36.0K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$1.4M 26.5K shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	$524.3K 9.9K shares
Legato Capital Management LLC Fund of Funds	$502.9K 9.5K shares
R Resona Asset Management Co.,Ltd. Institution	$406.2K 7.7K shares
ISAM Funds Ltd Hedge Fund•Quant	$345.3K 6.5K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$332.4K 6.0K shares
Measured Wealth Private Client Group, LLC RIA/Wealth	$25.2K 474.0 shares
S Salomon & Ludwin, LLC Institution	$23.1K 447.0 shares

Exited Positions

Institution	Previous Position
C Capital World Investors Institution	$33.7M 595.0K shares
L LIGHT STREET CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$14.6M 257.5K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$14.3M 252.0K shares
B BAILLIE GIFFORD & CO Institution	$11.0M 193.7K shares
N NATIONAL BANK OF CANADA /FI/ Institution	$8.5M 150.0K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$8.3M 146.7K shares
C CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM Institution	$8.0M 141.4K shares
F FIRST SABREPOINT CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$5.7M 100.0K shares
J Jump Financial, LLC Institution	$2.3M 39.8K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$1.3M 23.5K shares

Options Activity

Institutions with the largest Call and Put options positions in BL as of Q3 2025

Call Positions: 7
Call Value: $132.8M
Put Positions: 6
Put Value: $25.6M

Call Positions

Institution	Position Value
UBS Group AG Institution	$125.8M 23.7K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.7M 500.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.4M 448.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$918.6K 173.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$387.6K 73.0 contracts
W WOLVERINE TRADING, LLC Institution	$343.8K 65.0 contracts
Walleye Trading LLC RIA/Wealth	$329.2K 62.0 contracts

Put Positions

Institution	Position Value
P Portman Square Capital LLP Hedge Fund•Vol Arbitrage	$18.6M 3.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.1M 777.0 contracts
J JANE STREET GROUP, LLC Institution	$1.2M 227.0 contracts
Walleye Trading LLC RIA/Wealth	$1.0M 191.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$424.8K 80.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$212.4K 40.0 contracts

Most Committed Institutions

Institutions with BL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
CLEARLAKE CAPITAL GROUP, L.P. Private Equity	Behdad Eghbali Managing Partner	28.33% $303.3M	9.23% 5.7M shares	Q2 2022 Held for 3y 5m	$1.1B
SCALAR GAUGE MANAGEMENT, LLC Hedge Fund•Long/Short	Sumit Gautam CEO	16.67% $32.7M	1.00% 615.8K shares	Q2 2024 Held for 1y 5m	$196.1M
Ananym Capital Management, LP Hedge Fund•Activist	Alexander Jonathan Silver CIO	9.03% $23.5M	0.72% 442.5K shares	Q4 2024 Held for 11 months	$260.1M
P Portman Square Capital LLP Hedge Fund•Vol Arbitrage	Sutesh Kumar Sharma CEO	7.70% $3.5M	0.11% 66.4K shares	Q2 2024 Held for 1y 5m	$45.7M
E Engaged Capital LLC Hedge Fund•Activist	Glenn William Welling CIO	5.91% $24.1M	0.73% 453.8K shares	Q3 2025 Held for 2 months	$407.6M
Topline Capital Management, LLC Hedge Fund•Long/Short	Collin Mcbirney Managing Partner	5.78% $30.3M	0.92% 569.9K shares	Q4 2024 Held for 11 months	$523.6M
Tensile Capital Management LLC Hedge Fund•Value	Arthur Chiakai Young Managing Partner	5.39% $43.2M	1.31% 812.7K shares	Q4 2022 Held for 2y 11m	$800.4M
G Gagnon Advisors, LLC Hedge Fund•Long/Short	Neil Joseph Gagnon CEO	4.26% $6.9M	0.21% 130.1K shares	Q3 2018 Held for 7y 2m	$162.0M
Hawk Ridge Management LLC Hedge Fund•Long/Short	David Graham Brown CIO	4.10% $87.4M	2.66% 1.6M shares	Q3 2023 Held for 2y 2m	$2.1B
GAGNON SECURITIES LLC RIA/Wealth	Neil Joseph Gagnon CEO	3.00% $14.8M	0.45% 278.9K shares	Q3 2018 Held for 7y 2m	$493.8M

Hedge Fund Spotlight

Discover hedge funds investing in BL

AQR CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Gary Kabiller

Portfolio Value: $156.17B
Positions: 3,453
Last Reported: Q3 2025

Sector Allocation

Position in BlackLine

Market Value: $547.0K
Shares Held: 10.3K
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$4.1B	2.62%
2 Microsoft MSFT	Software - Infrastructure Technology	$3.2B	2.05%
3 Apple AAPL	Consumer Electronics Technology	$2.8B	1.76%