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Heritage Global
HGBL

41 hedge funds and large institutions have $16.5M invested in Heritage Global in 2025 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 13 increasing their positions, 8 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 4

63% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 8

8% more funds holding

Funds holding: 38 → 41 (+3)

0.39% more ownership

Funds ownership: 37.85% → 38.24% (+0.39%)

25% less capital invested

Capital invested by funds: $21.8M → $16.5M (-$5.35M)

Holders
41
Holders Change
+3
Holders Change %
+7.89%
% of All Funds
0.5%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
13
Reduced
8
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SL
Sentinus LLC
Illinois
+$501K
2
TCM
Topline Capital Management
California
+$239K
3
MBAM
Mink Brook Asset Management
Florida
+$204K
4
PCM
Perritt Capital Management
Illinois
+$90.2K
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$66.8K

Top Sellers

Rank Fund Capital Flow
1
WC
Wynnefield Capital
New York
-$446K
2
PAIM
Punch & Associates Investment Management
Minnesota
-$126K
3
RC
RBF Capital
California
-$90.1K
4
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$87K
5
GCP
GSA Capital Partners
United Kingdom
-$36K
Name Holding Trade Value Shares
Change 		Change in
Stake
XT
26
XTX Topco
Cayman Islands
$30.6K +$34.2K +24,667 New
Morgan Stanley
27
Morgan Stanley
New York
$23.1K – – –
Squarepoint
28
Squarepoint
New York
$16.9K +$18.9K +13,653 New
ECM
29
Evergreen Capital Management
Washington
$14.7K – – –
HF
30
HRT Financial
New York
$13K +$14.9K +10,726 New
Citigroup
31
Citigroup
New York
$12.3K +$13.7K +9,893 New
Royal Bank of Canada
32
Royal Bank of Canada
Ontario, Canada
$7K -$47 -34 -0.6%
PA
33
Parallel Advisors
California
$4.96K – – –
TRCT
34
Tower Research Capital (TRC)
New York
$4.37K +$904 +651 +23%
Osaic Holdings
35
Osaic Holdings
Arizona
$3.4K -$7 -5 -0.2%
Wells Fargo
36
Wells Fargo
California
$3.11K +$7 +5 +0.2%
UBS Group
37
UBS Group
Switzerland
$2.02K +$2.24K +1,615 +10,094%
TWC
38
TD Waterhouse Canada
Ontario, Canada
$841 – – –
Bank of America
39
Bank of America
North Carolina
$193 -$161 -116 -43%
SAM
40
Smartleaf Asset Management
Massachusetts
$125 +$139 +100 New
AIC
41
Archer Investment Corporation
Indiana
$31 – – –
RC
42
RBF Capital
California
– -$90.1K -54,283 Closed
GCP
43
GSA Capital Partners
United Kingdom
– -$36K -21,928 Closed
VF
44
Virtu Financial
New York
– -$28K -16,796 Closed
Charles Schwab
45
Charles Schwab
California
– -$27.9K -16,791 Closed
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HGBL Hedge Fund Activity: Q4 2025 in Review

41 of the 8,228 institutional investors tracked by Wall St. Rank reported a position in Heritage Global (HGBL) for Q4 2025, worth a combined $16.5M — down 25% from $21.8M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new HGBL positions and 4 closed out — a net gain of 4 holders — while 13 added to existing stakes and 8 trimmed.

The largest buyer was Sentinus LLC, opening a new position worth an estimated $501K. The largest seller was Wynnefield Capital, cutting an estimated $446K.

  • 41 institutional investors held Heritage Global (HGBL) as of Q4 2025, up from 38 in Q3 2025.
  • Funds reported $16.5M of Heritage Global stock for Q4 2025, down 25% quarter-over-quarter.
  • 8 funds opened new Heritage Global positions in Q4 2025 and 4 closed out, a net change of +4 holders.
  • The largest Heritage Global buyer in Q4 2025 was Sentinus LLC, an estimated $501K added.
  • The largest Heritage Global seller in Q4 2025 was Wynnefield Capital, an estimated $446K sold.

Based on aggregated 13F filings for Q4 2025.