HGBL · Heritage Global Inc. · Shareholders & Ownership
$1.28
+0.01 (+0.79%)
At close · Oct 21
View the 10-Q filed May 7, 2026
Return incl. dividend (before tax)
Customer concentration
— top customer 78% of receivables
One customer — 78% of receivables (March 31, 2026)
“As of March 31, 2026, we held a gross balance of investments in notes receivable of $27.3 million, recorded in both notes receivable and equity method investments, and consisting of one borrower’s note balance of approximately $21.4 million, representing 78% of our total gross notes receivable balance as of March 31, 2026, as compared to 76% as of December 31, 2025.”
One customer — 76% of receivables (December 31, 2025)
“As of March 31, 2026, we held a gross balance of investments in notes receivable of $27.3 million, recorded in both notes receivable and equity method investments, and consisting of one borrower’s note balance of approximately $21.4 million, representing 78% of our total gross notes receivable balance as of March 31, 2026, as compared to 76% as of December 31, 2025.”
Market Cap
$44.34M
Shares
34.64M
Volume · Oct 21
54.04K
Avg daily vol (3M)
189.93K
Every disclosed holder of HGBL in one list: 13F institutions, Schedule 13D and 13G filers, insiders (Forms 3, 4 and 5) and registered funds, each from its own latest filing. Holders nest by CIK and SEC reporting links, never by name, and each is summed once.
Who Owns HGBL
13F quarter Sep 30, 2026, combined view: filers that have not filed yet carry their Jun 30, 2026 positions| Holder group | Shares | % Out |
|---|---|---|
| Institutional (13F) | 11,802,479 | 34.07% |
| Insiders (Forms 3, 4, 5) | 5,030,452 | 14.52% |
| 13D/G-only blocks | 2,424,680 | 7.00% |
| Remaining | 15,381,834 | 44.41% |
| Registered funds (N-PORT, not summed) | 1,986,157 | 5.73% |
Shares outstanding: 34,639,445, the issuer's latest cover-page count restated onto today's split basis.
13D/G-only counts each filer's latest 13D or 13G that no 13F report of the listing contains, that names no 13F filer and that no counted insider files. Funds are never summed: their shares sit inside their advisers' 13F reports.
Holders of HGBL
| # | Holder | Shares | As of | Notes |
|---|---|---|---|---|
| 1 |
Topline Capital Management, LLC
13G
CIK 1754074 · Unknown · Dec 31, 2023
Rule 13d-1(c), passive investor
|
2,424,680 | ||
| 2 |
Mink Brook Asset Management LLC
13F
CIK 2052205 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
2,273,077 | ||
| 3 |
|
2,021,917 | ||
| 3.1 |
|
2,021,917 | ||
| 4 |
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.
13F
CIK 1238990 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
2,021,458 | ||
| 5 |
Topline Capital Management, LLC
13F
CIK 1792549 · Investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
1,785,488 | ||
| 6 |
VANGUARD CAPITAL MANAGEMENT LLC
13F
CIK 2100119 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
1,393,638 | ||
| 6.1 |
VANGUARD CAPITAL MANAGEMENT LLC
13G
CIK 2100119 · Registered investment adviser · Jun 30, 2026
Rule 13d-1(b), qualified institution, not summed
|
1,571,677 | ||
| 7 |
VANGUARD TOTAL STOCK MARKET INDEX FUND
Fund
S000002848 · Registered fund · Jun 30, 2026
VANGUARD INDEX FUNDS, not summed
|
1,180,146 | ||
| 8 |
Truffle Hound Capital, LLC
13F
CIK 1595862 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
1,100,000 | ||
| 9 |
Koshinski Asset Management, Inc.
13F
CIK 1633389 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
917,304 | ||
| 10 |
|
900,479 | ||
| 11 |
Militia Capital Management LLC
13F
CIK 2130487 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
563,873 | ||
| 12 |
|
370,000 | ||
| 13 |
GEODE CAPITAL MANAGEMENT, LLC
13F
CIK 1214717 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
359,349 | ||
| 14 |
|
352,500 | ||
| 15 |
VANGUARD EXTENDED MARKET INDEX FUND
Fund
S000002841 · Registered fund · Jun 30, 2026
VANGUARD INDEX FUNDS, not summed
|
296,158 | ||
| 16 |
|
272,104 | ||
| 17 |
|
252,391 | ||
| 18 |
RENAISSANCE TECHNOLOGIES LLC
13F
CIK 1037389 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
249,617 | ||
| 19 |
|
245,353 | ||
| 20 |
|
222,608 | ||
| 21 |
Ridgewood Investments LLC
13F
CIK 1703556 · Unknown · Sep 30, 2026
|
207,165 | ||
| 22 |
|
186,000 | ||
| 23 |
DIMENSIONAL FUND ADVISORS LP
13F
CIK 354204 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
179,234 | ||
| 23.1 |
U.S. MICRO CAP PORTFOLIO
Fund
S000000948 · Registered fund · Jul 31, 2026
DFA INVESTMENT DIMENSIONS GROUP INC, not summed
|
53,201 | ||
| 23.2 |
Dimensional U.S. Core Equity 2 ETF
Fund
S000070903 · Registered fund · Jul 31, 2026
Dimensional ETF Trust, not summed
|
47,405 | ||
| 24 |
BlackRock, Inc.
13F
CIK 2012383 · Holding company · Jun 30, 2026
carried, not yet filed for the newest quarter
|
168,422 | ||
| 24.1 |
iShares Micro-Cap ETF
Fund
S000004439 · Registered fund · Jun 30, 2026
iShares Trust, not summed
|
104,429 | ||
| 25 |
VANGUARD FIDUCIARY TRUST CO
13F
CIK 933478 · Unknown · Jun 30, 2026
carried, not yet filed for the newest quarter
|
167,270 | ||
| 26 |
Fidelity Extended Market Index Fund
Fund
S000006021 · Registered fund · May 31, 2026
Fidelity Concord Street Trust, not summed
|
128,399 | ||
| 27 |
|
116,566 | ||
| 28 |
|
101,300 | ||
| 29 |
|
95,800 | ||
| 30 |
Fidelity Total Market Index Fund
Fund
S000006026 · Registered fund · May 31, 2026
Fidelity Concord Street Trust, not summed
|
65,633 | ||
| 31 |
NORTHERN TRUST CORP
13F
CIK 73124 · Bank · Jun 30, 2026
carried, not yet filed for the newest quarter
|
51,204 | ||
| 32 |
JANE STREET GROUP, LLC
13F
CIK 1595888 · Unknown · Jun 30, 2026
carried, not yet filed for the newest quarter
|
42,957 | ||
| 33 |
Fidelity Series Total Market Index Fund
Fund
S000065248 · Registered fund · May 31, 2026
Fidelity Concord Street Trust, not summed
|
42,869 | ||
| 34 |
CITADEL ADVISORS LLC
13F
CIK 1423053 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
38,312 | ||
| 35 |
GOLDMAN SACHS GROUP INC
13F
CIK 886982 · Holding company · Jun 30, 2026
carried, not yet filed for the newest quarter
|
34,800 | ||
| 36 |
NorthRock Partners, LLC
13F
CIK 1632097 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
34,139 | ||
| 37 |
Fidelity Nasdaq Composite Index Fund
Fund
S000055366 · Registered fund · May 31, 2026
Fidelity Concord Street Trust, not summed
|
31,260 | ||
| 38 |
VANGUARD BALANCED INDEX FUND
Fund
S000002560 · Registered fund · Jun 30, 2026
VANGUARD VALLEY FORGE FUNDS, not summed
|
19,685 | ||
| 39 |
MORGAN STANLEY
13F
CIK 895421 · Holding company · Jun 30, 2026
carried, not yet filed for the newest quarter
|
18,668 | ||
| 40 |
TD Waterhouse Canada Inc.
13F
CIK 1999606 · Unknown · Sep 30, 2026
|
17,434 | ||
| 41 |
EVERGREEN CAPITAL MANAGEMENT LLC
13F
CIK 1260824 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
11,878 | ||
| 42 |
ACADIAN ASSET MANAGEMENT LLC
13F
CIK 916542 · Unknown · Jun 30, 2026
carried, not yet filed for the newest quarter
|
11,491 | ||
| 43 |
Vanguard Global Advisers, LLC
13F
CIK 1811242 · Registered investment adviser · Jun 30, 2026
carried, not yet filed for the newest quarter
|
10,769 | ||
| 44 |
Hounsell Bruce Kenneth
Insider
CIK 2109866 · Aug 17, 2026
President, Heritage DebtX LLC, issuer-wide
|
10,000 | ||
| 45 |
XTX Topco Ltd
13F
CIK 1828301 · Unknown · Jun 30, 2026
carried, not yet filed for the newest quarter
|
10,000 | ||
| 46 |
1290 VT Micro Cap Portfolio
Fund
S000044688 · Registered fund · Jun 30, 2026
EQ Advisors Trust, not summed
|
5,838 | ||
| 47 |
ROYAL BANK OF CANADA
13F
CIK 1000275 · Bank · Jun 30, 2026
carried, not yet filed for the newest quarter
|
5,782 | ||
| 48 |
JNL/DFA U.S. Small Cap Fund
Fund
S000068110 · Registered fund · Jun 30, 2026
JNL Series Trust, not summed
|
5,700 | ||
| 49 |
LVIP Dimensional U.S. Core Equity 2 Fund
Fund
S000048564 · Registered fund · Jun 30, 2026
LINCOLN VARIABLE INSURANCE PRODUCTS TRUST, not summed
|
5,434 | ||
| 50 |
Tower Research Capital LLC (TRC)
13F
CIK 1533421 · Unknown · Jun 30, 2026
carried, not yet filed for the newest quarter
|
5,429 |
Shares are restated onto today's split basis. Change compares each row with the same holder's previous filing in the same source; a dash means there is none to compare. Nested 13D/G, insider and fund rows are not summed, since a 13F report already holds them.
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