Hercules Capital
HTGC
354 hedge funds and large institutions have $1.02B invested in Hercules Capital in 2025 Q4 according to their latest regulatory filings, with 56 funds opening new positions, 134 increasing their positions, 97 reducing their positions, and 33 closing their positions.
70% more first-time investments, than exits
New positions opened: 56 | Existing positions closed: 33
66% more call options, than puts
Call options by funds: $26M | Put options by funds: $15.7M
38% more repeat investments, than reductions
Existing positions increased: 134 | Existing positions reduced: 97
25% more funds holding in top 10
Funds holding in top 10: 4 → 5 (+1)
2.96% more ownership
Funds ownership: 25.86% → 28.82% (+3%)
3% more funds holding
Funds holding: 344 → 354 (+10)
4% more capital invested
Capital invested by funds: $985M → $1.02B (+$34.5M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$9.01M |
| 2 |
Point72 Asset Management
Stamford,
Connecticut
|
+$8.7M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$6.37M |
| 4 |
MC
Muzinich & Co
New York
|
+$6.19M |
| 5 |
D.E. Shaw & Co
New York
|
+$5.58M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
|
-$8.21M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$7.79M |
| 3 |
AI
Atom Investors
Austin,
Texas
|
-$7.29M |
| 4 |
Marshall Wace
London,
United Kingdom
|
-$5.04M |
| 5 |
Credit Agricole
Montrouge Cedex,
France
|
-$3.63M |
HTGC Hedge Fund Activity: Q4 2025 in Review
354 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Hercules Capital (HTGC) for Q4 2025, worth a combined $1.02B — up 3.5% from $985M a quarter earlier.
Buyers outnumbered sellers: 56 funds opened new HTGC positions and 33 closed out — a net gain of 23 holders — while 134 added to existing stakes and 97 trimmed.
The largest buyer was Qube Research & Technologies (QRT), adding an estimated $9.01M. The largest seller was Connor, Clark & Lunn Investment Management (CC&L), exiting entirely with an estimated $8.21M sold.
- 354 institutional investors held Hercules Capital (HTGC) as of Q4 2025, up from 344 in Q3 2025.
- Funds reported $1.02B of Hercules Capital stock for Q4 2025, up 3.5% quarter-over-quarter.
- 56 funds opened new Hercules Capital positions in Q4 2025 and 33 closed out, a net change of +23 holders.
- The largest Hercules Capital buyer in Q4 2025 was Qube Research & Technologies (QRT), an estimated $9.01M added.
- The largest Hercules Capital seller in Q4 2025 was Connor, Clark & Lunn Investment Management (CC&L), an estimated $8.21M sold.
Based on aggregated 13F filings for Q4 2025.