Blackbaud

BLKB • NASDAQ

Blackbaud is a software - application company in the technology sector on NASDAQ, with a market cap of $3.0B. As of Q3 2025, 96% of shares are held by 305 institutional investors, with CLEARLAKE CAPITAL GROUP, L.P. as the largest holder at 20.1%.

Market Cap$3.0B

Software - Application

Technology

Employees3.0K

Websiteblackbaud.com

Country

United States of America

Overview

Overview of institutional ownership in BLKB as of Q3 2025 with a market cap of $3.1B

All Institutions

Institutions: 305
Value Held: $3.0B
Shares Held: 46.8M
Avg Position: $9.9M
Median Position: $571.4K

Hedge Funds

Hedge Funds: 52
Value Held: $306.9M
Shares Held: 4.8M
Avg Position: $5.9M
Median Position: $893.9K

Ownership Breakdown

Institutional (non-HF)

86.54%

$2.7B

Hedge Funds

9.84%

$306.9M

Retail & Other

3.62%

$113.0M

Based on market cap of $3.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BLKB as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
CLEARLAKE CAPITAL GROUP, L.P. Private Equity	Behdad Eghbali Managing Partner	$627.1M 58.58% of portfolio	20.10% 9.8M shares	Q4 2020 Held for 4y 11m	$1.1B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$354.8M 0.01% of portfolio	11.37% 5.5M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$317.2M 0.01% of portfolio	10.17% 4.9M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$278.4M 0.02% of portfolio	8.93% 4.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$101.8M 0.00% of portfolio	3.26% 1.6M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$100.4M 0.05% of portfolio	3.22% 1.6M shares	Q4 2014 Held for 10y 11m	$218.74B
GENEVA CAPITAL MANAGEMENT LTD/WI Long Only Manager	Jose Manuel Munoz Quiroga Managing Partner	$78.7M 1.35% of portfolio	2.52% 1.2M shares	Q1 2020 Held for 5y 8m	$5.8B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$62.3M 0.01% of portfolio	2.00% 969.4K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$62.2M 0.00% of portfolio	1.99% 967.1K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
G Greenhouse Funds LLLP Hedge Fund•Long/Short	Joseph Michael Milano CIO	$51.6M 2.01% of portfolio	1.66% 802.9K shares	Q1 2025 Held for 8 months	$2.6B

Net Capital Flow

Institutional buying and selling activity for BLKB in Q3 2025

Traded: +$12.0M
Buyers: 163
Sellers: 123
Total Bought: +$262.2M
Total Sold: −$250.2M
Avg Position: $9.1M

Biggest Buyers

Institution	Net Bought	Current Position
VANGUARD GROUP INC Institution	+$45.4M +706.7K shares	$354.8M 5.5M shares
SG Capital Management LLC Hedge Fund•Event Driven	+$34.1M +530.3K shares	$38.5M 598.5K shares
SHAPIRO CAPITAL MANAGEMENT CO INC Long Only Manager	+$19.2M +298.8K shares	$27.0M 419.2K shares
N Nuveen, LLC Institution	+$17.1M +265.7K shares	$25.8M 401.1K shares
Tributary Capital Management, LLC Long Only Manager	+$15.3M +238.3K shares	$32.4M 503.7K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$10.6M +164.6K shares	$10.6M 164.6K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$9.2M +145.4K shares	$18.9M 298.4K shares
P P2 Capital Partners, LLC Hedge Fund•Value	+$9.0M +139.5K shares	$40.5M 630.3K shares
Marshall Wace LLP Institution	+$9.0M +139.3K shares	$11.1M 172.6K shares
R ROYAL BANK OF CANADA Institution	+$8.8M +137.1K shares	$9.8M 152.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
A Arrowpoint Asset Management, LLC Hedge Fund•Multi-Strategy	−$42.4M −659.6K shares	$20.9M 325.2K shares
MORGAN STANLEY RIA/Wealth	−$26.7M −415.9K shares	$278.4M 4.3M shares
B BlackRock, Inc. Institution	−$13.5M −209.8K shares	$317.2M 4.9M shares
Indaba Capital Management, L.P. Hedge Fund•Event Driven	−$12.4M −193.0K shares	Sold Off 0 shares
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	−$12.1M −188.0K shares	Sold Off 0 shares
C CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM Institution	−$10.5M −163.4K shares	Sold Off 0 shares
Intrinsic Edge Capital Management LLC Hedge Fund•Multi-Strategy	−$8.9M −137.7K shares	$4.7M 73.7K shares
FULLER & THALER ASSET MANAGEMENT, INC. Long Only Manager	−$8.8M −137.4K shares	$22.5M 350.5K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$8.8M −136.5K shares	$5.8M 90.9K shares
HENDERSON GROUP PLC Institution	−$8.6M −133.4K shares	$100.4M 1.6M shares

Entry and Exit Activity

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

New Positions: 25
New Value: $10.8M
Exited Positions: 21
Exited Value: $50.1M

New Positions

Institution	Position Value
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	$2.4M 36.6K shares
Global Alpha Capital Management Ltd. Long Only Manager	$1.1M 17.5K shares
Cetera Investment Advisers RIA/Wealth	$948.3K 14.7K shares
P PICTON MAHONEY ASSET MANAGEMENT Institution	$942.8K 14.7K shares
Magnetar Financial LLC Hedge Fund•Multi-Strategy	$935.3K 14.5K shares
Vinva Investment Management Ltd Hedge Fund•Quant	$852.2K 8.9K shares
TradeLink Capital LLC Hedge Fund•Event Driven	$700.5K 10.9K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$564.8K 8.8K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	$518.7K 8.1K shares
1 111 Capital Institution	$364.5K 5.7K shares

Exited Positions

Institution	Previous Position
Indaba Capital Management, L.P. Hedge Fund•Event Driven	$12.4M 193.0K shares
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	$12.1M 188.0K shares
C CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM Institution	$10.5M 163.4K shares
H HRT FINANCIAL LLC Institution	$7.1M 111.2K shares
C CREDIT INDUSTRIEL ET COMMERCIAL Institution	$2.1M 33.1K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$2.0M 31.3K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$950.1K 14.8K shares
Groupe la Francaise Fund of Funds	$877.0K 13.7K shares
T TWO SIGMA SECURITIES, LLC Institution	$353.2K 5.5K shares
LEUCADIA NATIONAL CORP Institution	$321.1K 5.0K shares

Options Activity

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

Call Positions: 2
Call Value: $1.1M
Put Positions: 2
Put Value: $366.6K

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$662.4K 103.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$443.7K 69.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$366.6K 57.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Most Committed Institutions

Institutions with BLKB 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	58.58% $627.1M	20.10% 9.8M shares	Q4 2020 Held for 4y 11m	$1.1B
P P2 Capital Partners, LLC Hedge Fund•Value	Claus Jorgen Moller CEO	8.33% $40.5M	1.30% 630.3K shares	Q2 2022 Held for 3y 5m	$486.7M
TradeLink Capital LLC Hedge Fund•Event Driven	Steven Wesley Wolf CEO	5.82% $700.5K	0.02% 10.9K shares	Q3 2025 Held for 2 months	$12.0M
SG Capital Management LLC Hedge Fund•Event Driven	Glen Schneider President	3.86% $38.5M	1.23% 598.5K shares	Q2 2025 Held for 5 months	$998.2M
KESTREL INVESTMENT MANAGEMENT CORP Hedge Fund•Event Driven	David J. Steirman President	2.31% $4.1M	0.13% 63.7K shares	Q2 2024 Held for 1y 5m	$177.4M
G Greenhouse Funds LLLP Hedge Fund•Long/Short	Joseph Michael Milano CIO	2.01% $51.6M	1.66% 802.9K shares	Q1 2025 Held for 8 months	$2.6B
C Clearline Capital LP Hedge Fund•Event Driven	Mohit Bhasin CFO	1.73% $20.5M	0.66% 318.6K shares	Q1 2025 Held for 8 months	$1.2B
Tributary Capital Management, LLC Long Only Manager	Mark Alan Wynegar President	1.54% $32.4M	1.04% 503.7K shares	Q1 2021 Held for 4y 8m	$2.1B
CORBYN INVESTMENT MANAGEMENT INC/MD Long Only Manager	William Earle White President	1.41% $3.1M	0.10% 48.2K shares	Q1 2024 Held for 1y 8m	$220.0M
GENEVA CAPITAL MANAGEMENT LTD/WI Long Only Manager	Jose Manuel Munoz Quiroga Managing Partner	1.35% $78.7M	2.52% 1.2M shares	Q1 2020 Held for 5y 8m	$5.8B

Hedge Fund Spotlight

Discover hedge funds investing in BLKB

Quent Capital, LLC

Hedge Fund • Long/Short

Portfolio ManagerWilliam Albert Jollie

Portfolio Value: $1.2B
Positions: 1,433
Last Reported: Q3 2025

Sector Allocation

Position in Blackbaud

Market Value: $3.0K
Shares Held: 47.0
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Vanguard Russell 1000 Growth VONG	ETF ETF	$129.0M	10.81%
2 SPDR Nuveen Bloomberg Short Term Municipal Bond SHM	ETF ETF	$79.3M	6.64%
3 iShares MSCI EAFE Growth EFG	ETF ETF	$59.0M	4.94%