Bentley Systems, Incorporated

We believe Bentley Systems is attractive due to its strong free cash flow, high customer retention, and durable competitive advantages trading at a discount to our estimates of its long-term intrinsic value. We believe U.S. Physical Therapy may benefit from an aging population, increasing demand for outpatient rehabilitation services, and continued market consolidation. We exited the Essential Utilities position as the share price appreciated reducing the stock's potential upside and made its risk/reward profile less compelling redeploying the capital into what we view as higher conviction opportunities.

Bentley Systems, a newly initiated position during the quarter, is an example of a stock getting heavily discounted by a negative top-down industry narrative, with defensible and compelling long-term prospects. Watsco announced the acquisition of two separate family-run businesses. These acquisitions should increase revenue and cash flow by roughly 10%. We remained committed to MarketAxess stock for several reasons, including the fact that the company was exiting a heavy investment cycle, setting up strong operating leverage.

EXTON, Pa.--(BUSINESS WIRE)--Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, will release its third quarter 2026 results before the market opens on Thursday, November 5, 2026. Senior management will host a webcast to discuss the company's results at 8:15 a.m. ET. The results press release and link to the webcast will be available prior to the start of the webcast on the company's investor relations website at investors.bentley.com Webcast and regist.

SINGAPORE--(BUSINESS WIRE)--Bentley Systems announced the winners of the 2026 YII Awards, celebrating innovation in designing, building, and operating infrastructure.

On October 05, 2026, Bentley Systems Inc (BSY) shares rose 7.8% to $34.75. The stock has seen a 52-week range of $28.08 to $57.25, reflecting significant volati

Bentley Systems is undervalued, with the market overlooking its AI integration and resilient, high-retention engineering software business. BSY's core business delivers 12% ARR growth, 109% net revenue retention, and a 31% trailing FCF margin, supporting its current 22x forward P/E multiple. AI-enabled MCP servers position BSY as a critical platform for engineering workflows, with monetization of AI usage planned for 2027 and potential TAM expansion.

EXTON, Pa.--(BUSINESS WIRE)--Bentley Systems, Incorporated (Nasdaq: BSY) (the “Company”), the infrastructure engineering software company, today announced that its Board of Directors (the “Board”) declared a $0.07 per share dividend for the third quarter of 2026. The cash dividend is payable on September 29, 2026, to all stockholders of record of Class A and Class B common stock as of the close of business on September 22, 2026. About Bentley Systems Around the world, infrastructure professiona.

Public Employees Retirement System of Ohio purchased a new position in Bentley Systems, Incorporated (NASDAQ: BSY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 46,816 shares of the company's stock, valued at approximately $1,399,000. A number of other institutional investors