Pegasystems

PEGA • NASDAQ

Pegasystems is a software - application company in the technology sector on NASDAQ, led by Ken Stillwell, with a market cap of $9.7B. As of Q3 2025, 57% of shares are held by 416 institutional investors, with VANGUARD GROUP INC as the largest holder at 6.59%.

Chief Executive OfficerKen Stillwell

Market Cap$9.7B

Software - Application

Technology

Employees5.4K

Websitepega.com

Country

United States of America

Overview

Overview of institutional ownership in PEGA as of Q3 2025 with a market cap of $9.8B

All Institutions

Institutions: 416
Value Held: $5.6B
Shares Held: 97.0M
Avg Position: $13.4M
Median Position: $856.2K

Hedge Funds

Hedge Funds: 31
Value Held: $679.7M
Shares Held: 11.8M
Avg Position: $21.9M
Median Position: $3.0M

Ownership Breakdown

Institutional (non-HF)

49.79%

$4.9B

Hedge Funds

6.91%

$679.7M

Retail & Other

43.3%

$4.3B

Based on market cap of $9.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PEGA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$648.2M 0.01% of portfolio	6.59% 11.3M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$519.2M 0.01% of portfolio	5.28% 9.0M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	Edward Murray Maloney CEO	$286.8M 0.09% of portfolio	2.92% 5.0M shares	Q1 2025 Held for 8 months	$322.72B
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	David Gary Kabiller Founder	$195.0M 0.12% of portfolio	1.98% 3.4M shares	≤ Q2 2013 Held for 12y 5m+	$156.17B
Bares Capital Management, Inc. Long Only Manager	James Jeffrey Creel CEO	$194.4M 17.93% of portfolio	1.98% 3.4M shares	Q3 2019 Held for 6y 2m	$1.1B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$159.3M 0.01% of portfolio	1.62% 2.8M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$156.7M 0.02% of portfolio	1.59% 2.7M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B
Capital Research Global Investors RIA/Wealth	Sardar Sheraz Iftikhar CEO	$144.8M 0.03% of portfolio	1.47% 2.5M shares	Q2 2019 Held for 6y 5m	$532.36B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	Gerard Kieran O'Reilly CEO	$142.0M 0.03% of portfolio	1.44% 2.5M shares	Q1 2024 Held for 1y 8m	$466.32B
North Peak Capital Management, LLC Hedge Fund•Long/Short	Jeremy Steven Kahan Managing Partner	$134.9M 15.32% of portfolio	1.37% 2.3M shares	Q2 2025 Held for 5 months	$880.7M

Net Capital Flow

Institutional buying and selling activity for PEGA in Q3 2025

Net Flow: +$29.1M
Buyers: 171
Sellers: 190
Total Bought: +$532.7M
Total Sold: −$503.6M
Avg Position: $13.3M

Biggest Buyers

Institution	Net Bought	Current Position
North Peak Capital Management, LLC Hedge Fund•Long/Short	+$74.1M +1.3M shares	$134.9M 2.3M shares
A AMERICAN CENTURY COMPANIES INC Institution	+$71.3M +1.2M shares	$91.2M 1.6M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	+$53.9M +937.2K shares	$286.8M 5.0M shares
P Pacer Advisors, Inc. Institution	+$47.7M +828.9K shares	$48.9M 850.9K shares
FIRST TRUST ADVISORS LP ETF Provider	+$46.7M +812.6K shares	$63.9M 1.1M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$28.1M +488.6K shares	$122.0M 2.1M shares
UBS Group AG Institution	+$20.5M +356.1K shares	$105.4M 1.8M shares
Invesco Ltd. ETF Provider	+$16.1M +280.3K shares	$156.7M 2.7M shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$16.1M +279.5K shares	$49.1M 853.7K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$14.0M +244.1K shares	$16.1M 279.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
Capital Research Global Investors RIA/Wealth	−$83.7M −1.5M shares	$144.8M 2.5M shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	−$47.1M −819.3K shares	$20.2M 351.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$37.1M −645.8K shares	$195.0M 3.4M shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$25.4M −468.3K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$16.7M −290.2K shares	$84.9M 1.5M shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$14.1M −245.7K shares	$133.3M 2.3M shares
P PineBridge Investments Ltd Institution	−$12.3M −213.1K shares	$1.3M 22.4K shares
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	−$11.8M −201.4K shares	$1.2M 20.1K shares
Trexquant Investment LP Hedge Fund•Quant	−$11.5M −200.2K shares	$3.0M 52.3K shares
FMR LLC Institution	−$10.6M −183.7K shares	$45.1M 785.0K shares

Entry and Exit Activity

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

New Positions: 44
New Value: $129.8M
Exited Positions: 61
Exited Value: $103.2M

New Positions

Institution	Position Value
Hood River Capital Management LLC Long Only Manager	$90.8M 1.6M shares
COOKSON PEIRCE & CO INC RIA/Wealth	$12.0M 209.3K shares
ARMISTICE CAPITAL, LLC Hedge Fund•Long/Short	$5.0M 86.8K shares
Vident Advisory, LLC ETF Provider	$3.9M 67.7K shares
J JB Capital LLC Institution	$3.2M 56.4K shares
Strategic Global Advisors, LLC Long Only Manager	$2.2M 39.0K shares
CBOE Vest Financial, LLC ETF Provider	$1.5M 26.3K shares
Smith Group Asset Management, LLC Long Only Manager	$1.3M 21.8K shares
W WILSON ASSET MANAGEMENT PTY LTD Institution	$1.2M 20.0K shares
Main Management ETF Advisors, LLC Institution	$1.1M 19.4K shares

Exited Positions

Institution	Previous Position
S Squarepoint Ops LLC Hedge Fund•Quant	$25.4M 468.3K shares
F FIL Ltd Institution	$10.5M 193.6K shares
L LMR Partners LLP Institution	$8.1M 150.0K shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	$6.2M 115.2K shares
Beacon Harbor Wealth Advisors, Inc. RIA/Wealth	$6.2M 115.0K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$6.0M 110.2K shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC Hedge Fund•Distressed	$5.6M 103.8K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$3.9M 72.7K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$3.4M 63.5K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$3.1M 57.6K shares

Options Activity

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

Call Positions: 11
Call Value: $18.1M
Put Positions: 9
Put Value: $10.0M

Call Positions

Institution	Position Value
BARCLAYS PLC Institution	$5.8M 1.0K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$4.1M 720.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.4M 409.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.5M 259.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.5M 257.0 contracts
J JANE STREET GROUP, LLC Institution	$1.1M 196.0 contracts
W WOLVERINE TRADING, LLC Institution	$978.5K 167.0 contracts
Walleye Trading LLC RIA/Wealth	$339.3K 59.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$230.0K 40.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$201.3K 35.0 contracts

Put Positions

Institution	Position Value
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.9M 507.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.9M 330.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.6M 273.0 contracts
J JANE STREET GROUP, LLC Institution	$1.5M 256.0 contracts
Walleye Trading LLC RIA/Wealth	$868.3K 151.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$747.5K 130.0 contracts
W WOLVERINE TRADING, LLC Institution	$533.2K 91.0 contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	- - contracts
S Shannon River Fund Management CO LLC Hedge Fund•Long/Short	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Bares Capital Management, Inc. Long Only Manager	James Jeffrey Creel CEO	17.93% $194.4M	1.98% 3.4M shares	Q3 2019 Held for 6y 2m	$1.1B
North Peak Capital Management, LLC Hedge Fund•Long/Short	Jeremy Steven Kahan Managing Partner	15.32% $134.9M	1.37% 2.3M shares	Q2 2025 Held for 5 months	$880.7M
S Shannon River Fund Management CO LLC Hedge Fund•Long/Short	Spencer Marshal Waxman Managing Partner	12.81% $79.6M	0.81% 1.4M shares	Q3 2024 Held for 1y 2m	$621.2M
H Herald Investment Management Ltd Institution	-	5.42% $40.4M	0.41% 703.6K shares	Q3 2015 Held for 10y 2m	$745.8M
H HARBER ASSET MANAGEMENT LLC Institution	-	3.97% $10.9M	0.11% 190.2K shares	Q1 2022 Held for 3y 8m	$275.3M
Ranger Investment Management, L.P. Long Only Manager	Andrew Ferguson Hill President	3.91% $56.1M	0.57% 975.5K shares	Q2 2016 Held for 9y 5m	$1.4B
S Summit Creek Advisors LLC Long Only Manager	Joseph John Docter Managing Partner	2.54% $17.4M	0.18% 303.1K shares	Q3 2024 Held for 1y 2m	$686.1M
1492 Capital Management LLC Long Only Manager	Timothy Terrill Stracka Managing Partner	2.24% $5.6M	0.06% 97.4K shares	Q3 2024 Held for 1y 2m	$249.8M
Luxor Capital Group, LP Hedge Fund•Multi-Strategy	Christian Alexander Leone CEO	2.16% $15.4M	0.16% 268.3K shares	Q4 2018 Held for 6y 11m	$713.8M
IRONWOOD INVESTMENT MANAGEMENT LLC Long Only Manager	Charles Earl Osborne Managing Partner	2.01% $4.6M	0.05% 79.5K shares	≤ Q2 2013 Held for 12y 5m+	$227.0M

Hedge Fund Spotlight

Discover hedge funds investing in PEGA

Bayforest Capital Ltd

Hedge Fund • Quant

Portfolio ManagerTheodoros Tsagaris

Portfolio Value: $209.9M
Positions: 718
Last Reported: Q3 2025

Sector Allocation

Position in Pegasystems

Market Value: $9.7K
Shares Held: 169.0
Portfolio Weight: 0.00%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 SolarEdge Technologies SEDG	Solar Energy	$1.5M	0.72%
2 Peloton Interactive, Inc. PTON	Leisure Consumer Cyclical	$1.3M	0.64%
3 Crown Castle CCI	REIT - Specialty Real Estate	$1.3M	0.62%