Hercules Capital
HTGC
344 hedge funds and large institutions have $985M invested in Hercules Capital in 2025 Q3 according to their latest regulatory filings, with 51 funds opening new positions, 123 increasing their positions, 100 reducing their positions, and 28 closing their positions.
82% more first-time investments, than exits
New positions opened: 51 | Existing positions closed: 28
23% more repeat investments, than reductions
Existing positions increased: 123 | Existing positions reduced: 100
5% more funds holding
Funds holding: 327 → 344 (+17)
5% more capital invested
Capital invested by funds: $938M → $985M (+$46.9M)
0% more funds holding in top 10
Funds holding in top 10: 4 → 4 (0)
0.47% less ownership
Funds ownership: 26.33% → 25.86% (-0.47%)
31% less call options, than puts
Call options by funds: $8.68M | Put options by funds: $12.6M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Marshall Wace
London,
United Kingdom
|
+$11.4M |
| 2 |
LPL Financial
San Diego,
California
|
+$9.54M |
| 3 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$8.56M |
| 4 |
TI
Trexquant Investment
Stamford,
Connecticut
|
+$7.29M |
| 5 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
+$5.51M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$29.6M |
| 2 |
CSS
Cubist Systematic Strategies
Stamford,
Connecticut
|
-$5.81M |
| 3 |
Morgan Stanley
New York
|
-$4.91M |
| 4 |
TC
TwinBeech Capital
Purchase,
New York
|
-$4.61M |
| 5 |
SIS
Sound Income Strategies
Ft Lauderdale,
Florida
|
-$3.4M |
HTGC Hedge Fund Activity: Q3 2025 in Review
344 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in Hercules Capital (HTGC) for Q3 2025, worth a combined $985M — up 5% from $938M a quarter earlier.
Buyers outnumbered sellers: 51 funds opened new HTGC positions and 28 closed out — a net gain of 23 holders — while 123 added to existing stakes and 100 trimmed.
The largest buyer was Marshall Wace, opening a new position worth an estimated $11.4M. The largest seller was Millennium Management, cutting an estimated $29.6M.
- 344 institutional investors held Hercules Capital (HTGC) as of Q3 2025, up from 327 in Q2 2025.
- Funds reported $985M of Hercules Capital stock for Q3 2025, up 5% quarter-over-quarter.
- 51 funds opened new Hercules Capital positions in Q3 2025 and 28 closed out, a net change of +23 holders.
- The largest Hercules Capital buyer in Q3 2025 was Marshall Wace, an estimated $11.4M added.
- The largest Hercules Capital seller in Q3 2025 was Millennium Management, an estimated $29.6M sold.
Based on aggregated 13F filings for Q3 2025.