HGBL · Heritage Global Inc. · Holdings

$1.27 -0.01 (-0.78%) At close · Oct 20

Market Cap

$43.99M

34.64M

Volume · Oct 20 29.18K Avg daily vol (3M) 190.95K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of HGBL: 13F, 13D and 13G, insiders and funds →

Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.

The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.

Quarter:

Holders: 36

Total Value: $14,301,196

Total Shares: 11,802,479

Institutional Ownership Trend

25 quarters

Holder Concentration

Across 36 13F filers

Top Holder

19.2%

of institutional value

Top 5

72.5%

of institutional value

Top 10

92.0%

of institutional value

HHI

1,223

Broadly held

Who Holds HGBL

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 36 filers, like-for-like change -6.2%; actively managed books -5.7%; index-like books -8.3%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	77.4%	17	-5.2%	1	1
Adviser	15.1%	1	0.0%	0	0
Bank	1.5%	5	+4.6%	1	1
Holding company	1.9%	4	+10.6%	0	0
Unknown	4.1%	9	-39.5%	1	3

Style	Share	Filers	Change	New	Exited
Index-like	19.5%	8	-8.3%	0	0
Systematic-like	0.5%	3	+205.5%	1	0
Concentrated	34.6%	3	+0.9%	0	0
Diversified active	45.4%	22	-10.7%	2	5
Not measured	0.0%	0	—	0	0
Unknown	0.0%	0	—	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	52.5%	18	-6.6%	0	2
Medium turnover	26.7%	8	-2.7%	1	2
High turnover	0.8%	5	+16.3%	2	1
Unknown	19.9%	5	-10.5%	0	0
Not measured	0.0%	0	—	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	18.1%	6	-11.1%	1	0
Medium horizon	45.0%	5	-5.3%	0	3
Long horizon	36.8%	25	-4.8%	2	2
Unknown	0.0%	0	—	0	0
Not measured	0.0%	0	—	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	50.3%	7	-4.1%	1	2
$1B to $10B	25.4%	9	-7.0%	0	0
$10B to $100B	2.5%	5	-21.4%	0	1
$100B or more	21.9%	15	-8.1%	2	2
Not measured	0.0%	0	—	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	25.3%	7	-9.2%	0	1
Pooled investment vehicles	16.6%	5	+2.3%	1	0
Registered funds and BDCs	16.3%	3	-12.3%	0	0
Other investment advisers	0.0%	1	0.0%	0	0
Corporations	0.0%	0	—	0	0
Unknown	41.8%	20	-4.9%	2	4

Private funds	Share	Filers	Change	New	Exited
Hedge funds	52.8%	6	-2.3%	1	0
Private equity funds	0.1%	1	0.0%	0	0
Other private funds	1.8%	2	-10.6%	0	0
No private funds	22.7%	8	-8.4%	0	0
Venture capital funds	0.0%	0	-100.0%	0	1
Unknown	22.6%	19	-9.7%	2	4

Location	Share	Filers	Change	New	Exited
United States	99.9%	30	-5.6%	1	4
Outside the US	0.1%	6	-83.7%	2	1

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Conviction and Crowding

36 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

0.000% of filers hold it in their top 10

Mar 31, 2026: 0

Holders above 5%

median weight 0.000%

Mar 31, 2026: 0

Crowding

18.8%

of shares outstanding, 55th percentile

Mar 31, 2026: 19.6%

Private-fund advisers

18.6%

of shares outstanding

Institutional ownership

34.0%

39.7% of the estimated free float

Top 10 holders

92.0%

of 13F shares, Herfindahl 0.122

Active holders

-5.7%

like-for-like share change of active filers

5% stakes on record

0 13D, 4 13G (2 institutional, 2 passive, 0 exempt)

How long holders have held it value-weighted 10.5 quarters

Under 1 year 18.9% 1 to 3 years 54.0% 3 years or more 27.1% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$2.22

estimated per share

Mar 31, 2026: $2.20

Quarter-end price

$1.21

implied by 13F values

Estimated gain or loss

-45.6%

price against the estimated cost

Estimated at a loss

100.0%

of costed 13F value

Estimated cost covers 36.4% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Shared Holders

Companies HGBL's active holders also own, quarter ended Mar 31, 2026

#	Company	Shared holders	Similarity
1	NTWK Netsol Technologies Inc	3	0.866

Shareholder Targets

13F filers that own its peers but not HGBL, quarter ended Mar 31, 2026

Found through its holder-overlap peers: NTWK. 12 filers in all.

#	Filer	In peers	Of book	Largest peers
1	CITADEL ADVISORS LLC Registered adviser, Systematic-like	$279,220 1 held	0.000%	NTWK
2	BRIDGEWAY CAPITAL MANAGEMENT, LLC Registered adviser, Diversified active	$239,506 1 held	0.000%	NTWK
3	Empowered Funds, LLC Registered adviser, Diversified active	$231,031 1 held	0.000%	NTWK
4	ESSEX INVESTMENT MANAGEMENT CO LLC Registered adviser, Diversified active	$127,101 1 held	0.020%	NTWK
5	PFG Investments, LLC Unknown, Diversified active	$84,750 1 held	0.000%	NTWK
6	Dynamic Technology Lab Private Ltd Unknown, Systematic-like	$49,212 1 held	0.010%	NTWK
7	Stratos Wealth Partners, LTD. Registered adviser, Diversified active	$33,900 1 held	0.000%	NTWK
8	IFP Advisors, Inc Registered adviser, Diversified active	$32,391 1 held	0.000%	NTWK
9	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Unknown, Diversified active	$2,034 1 held	0.000%	NTWK
10	JONES FINANCIAL COMPANIES LLLP Unknown, Diversified active	$339 1 held	0.000%	NTWK

Fund Ownership of HGBL by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 5.39% of shares outstanding.

Fund type	Of shares outstanding	Change	Shares	Funds
Index funds	0.83%	-0.03 pp	287,846	5
Index ETFs	4.56%	-0.46 pp	1,580,733	3
Active ETFs	0.21%	-0.01 pp	72,715	2
Active funds	0.20%	-1.00 pp	70,173	4
Unclassified	0.00%	0.00 pp	0	0
All registered funds	5.81%	-1.50 pp	2,011,467	14

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 18 Adviser 1 Bank 5 Holding company 4 Unknown 8

Showing 36 of 36

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

Mink Brook Asset Management LLC

$2,750,423

19.23%

2,273,077

PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.

$2,445,964

17.10%

2,021,458

Topline Capital Management, LLC

$2,160,440

15.11%

1,785,488

VANGUARD CAPITAL MANAGEMENT LLC

$1,686,301

11.79%

1,393,638

Truffle Hound Capital, LLC

$1,331,000

9.31%

1,100,000

Koshinski Asset Management, Inc.

$1,109,937

7.76%

917,304

Militia Capital Management LLC

$682,286

4.77%

563,873

GEODE CAPITAL MANAGEMENT, LLC

$434,812

3.04%

359,349

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GEODE CAPITAL MANAGEMENT TRUST COMPANY, LLC	73,934	$89,460	20.6%	Defined
Held directly	285,415	$345,352	79.4%	Defined

RENAISSANCE TECHNOLOGIES LLC

$302,036

2.11%

249,617

Ridgewood Investments LLC

$269,314

1.88%

207,165

DIMENSIONAL FUND ADVISORS LP

$216,871

1.52%

179,234

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Dimensional Fund Advisors Ltd.	4,446	$5,379	2.5%	Defined
DFA Australia Ltd.	4,444	$5,377	2.5%	Defined
Dimensional Ireland Ltd	45,056	$54,517	25.1%	Defined
Held directly	125,288	$151,598	69.9%	Sole

BlackRock, Inc.

$203,789

1.42%

168,422

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BlackRock Investment Management, LLC	5,838	$7,063	3.5%	Sole
BlackRock Fund Advisors	104,429	$126,359	62.0%	Sole
BlackRock Institutional Trust Company, N.A.	58,155	$70,367	34.5%	Sole

VANGUARD FIDUCIARY TRUST CO

$202,396

1.42%

167,270

STATE STREET CORP

$141,044

0.99%

116,566

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
STATE STREET GLOBAL ADVISORS TRUST COMPANY	116,566	$141,044	100.0%	Defined

NORTHERN TRUST CORP

$61,956

0.43%

51,204

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
NORTHERN TRUST CO joint	51,204	$61,956	100.0%	Defined

JANE STREET GROUP, LLC

$51,977

0.36%

42,957

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Jane Street Capital, LLC	22,909	$27,719	53.3%	Defined
Jane Street Global Trading, LLC	20,048	$24,258	46.7%	Defined

CITADEL ADVISORS LLC

$46,357

0.32%

38,312

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Citadel Securities GP LLC	38,312	$46,357	100.0%	Defined

GOLDMAN SACHS GROUP INC

$42,108

0.29%

34,800

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GOLDMAN SACHS & CO. LLC	34,800	$42,108	100.0%	Defined

NorthRock Partners, LLC

$41,308

0.29%

34,139

TD Waterhouse Canada Inc.

$22,664

0.16%

17,434

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
TORONTO DOMINION BANK	17,434	$22,664	100.0%	Defined

MORGAN STANLEY

$22,588

0.16%

18,668

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
PARAMETRIC PORTFOLIO ASSOCIATES LLC	18,668	$22,588	100.0%	Defined

EVERGREEN CAPITAL MANAGEMENT LLC

$14,372

0.10%

11,878

ACADIAN ASSET MANAGEMENT LLC

$13,904

0.10%

11,491

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Acadian Inc	11,491	$13,904	100.0%	Defined

Vanguard Global Advisers, LLC

$13,030

0.09%

10,769

XTX Topco Ltd

$12,100

0.08%

10,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
XTX EXECUTION SERVICES LLC joint	10,000	$12,100	100.0%	Defined

ROYAL BANK OF CANADA

$6,996

0.05%

5,782

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
RBC Dominion Securities Inc.	5,782	$6,996	100.0%	Defined

Tower Research Capital LLC (TRC)

$6,569

0.05%

5,429

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Latour Trading LLC (Latour)	5,429	$6,569	100.0%	Defined

Parallel Advisors, LLC

$4,840

0.03%

4,000

OSAIC HOLDINGS, INC.

$3,315

0.02%

2,740

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
OSAIC WEALTH, INC.	2,740	$3,315	100.0%	Defined

BARCLAYS PLC

$199

0.00%

165

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BARCLAYS CAPITAL INC.	165	$199	100.0%	Defined

Smartleaf Asset Management LLC

$121

0.00%

100

UBS Group AG

$114

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS AG	7	$8	7.0%	Defined
UBS Switzerland AG	9	$10	8.8%	Defined
UBS Securities LLC	80	$96	84.2%	Defined

Archer Investment Corp

$30

0.00%

Farther Finance Advisors, LLC

$18

0.00%

HARBOUR INVESTMENTS, INC.

$10

0.00%

Caitong International Asset Management Co., Ltd

0.00%

Key facts CIK 849145 CUSIP 42727E103 13F (30d) 4 filings 4 filers Visit website Investor relations