Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in HGBL held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | 2.2M | $3.1M | -5.9% | 6.460% | 0.18% |
| 2 | Mink Brook Asset Management LLC | 2.2M | $3.0M | +10.3% | 6.443% | 1.70% |
| 3 | Topline Capital Management, LLC | 1.8M | $2.4M | -3.5% | 5.139% | 0.40% |
| 4 | Truffle Hound Capital, LLC | 1.1M | $1.5M | 0.0% | 3.166% | 0.92% |
| 5 | Koshinski Asset Management, Inc. | 917K | $1.2M | 0.0% | 2.640% | 0.08% |
| 6 | Militia Capital Management LLC | 564K | $767K | — | 1.623% | 0.18% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 342K | $465K | -5.0% | 0.985% | 0.00% |
| 8 | RENAISSANCE TECHNOLOGIES LLC | 244K | $332K | -35.3% | 0.703% | 0.00% |
| 9 | Ridgewood Investments LLC | 237K | $323K | — | 0.683% | 0.13% |
| 10 | DIMENSIONAL FUND ADVISORS LP | 205K | $278K | -2.4% | 0.589% | 0.00% |
| 11 | Evernest Financial Advisors, LLC | 194K | $274K | — | 0.558% | 0.06% |
| 12 | BlackRock, Inc. | 147K | $200K | +5.1% | 0.423% | 0.00% |
| 13 | STATE STREET CORP | 117K | $159K | 0.0% | 0.335% | 0.00% |
| 14 | Rothschild Wealth LLC | 81K | $111K | — | 0.234% | 0.01% |
| 15 | Man Group plc | 80K | $108K | +34.4% | 0.229% | 0.00% |
| 16 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 47K | $63K | -48.8% | 0.134% | 0.00% |
| 17 | NORTHERN TRUST CORP | 37K | $50K | 0.0% | 0.106% | 0.00% |
| 18 | GOLDMAN SACHS GROUP INC | 35K | $48K | -29.5% | 0.101% | 0.00% |
| 19 | NorthRock Partners, LLC | 34K | $46K | 0.0% | 0.098% | 0.00% |
| 20 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 26K | $36K | 0.0% | 0.074% | 0.00% |
| 21 | JANE STREET GROUP, LLC | 19K | $26K | -35.9% | 0.055% | 0.00% |
| 22 | MORGAN STANLEY | 19K | $25K | 0.0% | 0.054% | 0.00% |
| 23 | XTX Topco Ltd | 14K | $19K | -43.5% | 0.040% | 0.00% |
| 24 | EVERGREEN CAPITAL MANAGEMENT LLC | 12K | $16K | 0.0% | 0.034% | 0.00% |
| 25 | ROYAL BANK OF CANADA | 6K | $8K | 0.0% | 0.017% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in HGBL — a direct measure of their conviction.
Filings activity in HGBL during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 35 | 13% | 33.19% | 3.02 pp | $15M | 8.3% |
| Q4 2025 | 40 | +5.3% | 36.21% | 13.12 pp | $16M | 27% |
| Q3 2025 | 38 | +0.0% | 49.33% | 15.73 pp | $22M | 24% |
| Q2 2025 | 38 | 7.3% | 65.06% | +2.61 pp | $29M | +4.2% |
| Q1 2025 | 41 | +5.1% | 62.45% | +7.72 pp | $28M | +14% |
| Q4 2024 | 39 | 9.3% | 54.73% | +22.35 pp | $24M | +69% |
| Q3 2024 | 43 | 12% | 32.38% | 12.67 pp | $14M | 28% |
| Q2 2024 | 49 | — | 45.05% | — | $20M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying HGBL stock.
Based on Q1 2026 13F filings, institutional ownership of Heritage Global Inc. stands at 33.2%, held across 35 reporting institutions.
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. is the largest reported institutional holder of HGBL, with approximately 2,244,148 shares worth $0.00B as of Q1 2026.
Yes — 3 widely-followed marquee investors appear among the top 25 institutional holders of HGBL, including RENAISSANCE TECHNOLOGIES LLC, SUSQUEHANNA INTERNATIONAL GROUP, LLP, JANE STREET GROUP, LLC.
Our composite Smart Money Score for HGBL is 42 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
5 institutions opened new positions in HGBL during Q1 2026, while 10 fully exited. 22 added to existing positions and 8 trimmed.
HGBL institutional ownership fell by 3.02 percentage points quarter-over-quarter, with a net change of -5 holders.
The top 10 institutions account for 91.7% of all reported 13F value in HGBL, and the top 25 account for 99.8%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Heritage Global Inc. (HGBL) Institutional Ownership