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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SL
Sentinus LLC
Oak Brook,
Illinois
|
+$501K |
| 2 |
TCM
Topline Capital Management
Santa Monica,
California
|
+$239K |
| 3 |
MBAM
Mink Brook Asset Management
West Palm Beach,
Florida
|
+$204K |
| 4 |
PCM
Perritt Capital Management
Chicago,
Illinois
|
+$90.2K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$66.8K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WC
Wynnefield Capital
New York
|
-$446K |
| 2 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
-$126K |
| 3 |
RC
RBF Capital
San Francisco,
California
|
-$90.1K |
| 4 |
Dimensional Fund Advisors
Austin,
Texas
|
-$87K |
| 5 |
GCP
GSA Capital Partners
London,
United Kingdom
|
-$36K |
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.