Hercules Capital

HTGC • NYSE

Hercules Capital is a asset management company in the financial services sector on NYSE, led by Scott Bluestein, with a market cap of $3.4B. As of Q3 2025, 26% of shares are held by 334 institutional investors, with VAN ECK ASSOCIATES CORP as the largest holder at 2.01%.

Chief Executive Officer and PresidentScott Bluestein

Market Cap$3.4B

Asset Management

Financial Services

Employees100.0

Websitehtgc.com

Country

United States of America

Overview

Overview of institutional ownership in HTGC as of Q3 2025 with a market cap of $3.4B

All Institutions

Institutions: 334
Value Held: $880.1M
Shares Held: 46.8M
Avg Position: $2.6M
Median Position: $415.2K

Hedge Funds

Hedge Funds: 27
Value Held: $153.3M
Shares Held: 8.1M
Avg Position: $5.7M
Median Position: $1.0M

Ownership Breakdown

Institutional (non-HF)

21.16%

$726.8M

Hedge Funds

4.46%

$153.3M

Retail & Other

74.38%

$2.6B

Based on market cap of $3.4B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in HTGC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$69.0M 0.07% of portfolio	2.01% 3.6M shares	≤ Q2 2013 Held for 12y 5m+	$96.6B
Sound Income Strategies, LLC RIA/Wealth	David Joseph Scranton Managing Partner	$47.0M 2.57% of portfolio	1.52% 2.8M shares	Q4 2017 Held for 7y 11m	$1.8B
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$37.0M 0.07% of portfolio	1.08% 2.0M shares	Q1 2020 Held for 5y 8m	$50.0B
L LPL Financial LLC Institution	-	$33.9M 0.01% of portfolio	0.99% 1.8M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$25.8M 0.02% of portfolio	0.75% 1.4M shares	Q4 2013 Held for 11y 11m	$121.98B
B BlackRock, Inc. Institution	-	$25.3M 0.00% of portfolio	0.74% 1.3M shares	Q1 2017 Held for 8y 8m	$5.67T
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$25.1M 0.04% of portfolio	0.73% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$62.0B
UBS Group AG Institution	Sergio P. Ermotti CEO	$24.9M 0.00% of portfolio	0.73% 1.3M shares	Q4 2014 Held for 10y 11m	$511.54B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$22.2M 0.00% of portfolio	0.65% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
L LEGAL & GENERAL GROUP PLC Institution	-	$22.2M 0.00% of portfolio	0.65% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$445.97B

Net Capital Flow

Institutional buying and selling activity for HTGC in Q3 2025

Traded: −$502.1M
Buyers: 169
Sellers: 127
Total Bought: +$109.9M
Total Sold: −$612.1M
Avg Position: $2.4M

Biggest Buyers

Institution	Net Bought	Current Position
Marshall Wace LLP Institution	+$11.2M +592.2K shares	$11.2M 592.2K shares
L LPL Financial LLC Institution	+$9.4M +497.6K shares	$33.9M 1.8M shares
Q Qube Research & Technologies Ltd Institution	+$8.5M +446.9K shares	$19.4M 1.0M shares
Trexquant Investment LP Hedge Fund•Quant	+$7.2M +380.5K shares	$7.2M 380.5K shares
Janney Montgomery Scott LLC RIA/Wealth	+$5.4M +287.5K shares	$5.4M 287.5K shares
B BlackRock, Inc. Institution	+$5.1M +272.2K shares	$25.3M 1.3M shares
S Sumitomo Mitsui Trust Holdings, Inc. Institution	+$5.0M +263.2K shares	$16.7M 884.9K shares
Muzinich & Co., Inc. Long Only Manager	+$4.8M +254.7K shares	$18.8M 992.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$4.5M +239.9K shares	$17.1M 904.1K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$4.1M +216.1K shares	$8.2M 434.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$519.5M −28.4M shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$29.2M −1.5M shares	$25.8M 1.4M shares
C Cubist Systematic Strategies, LLC Institution	−$5.7M −303.4K shares	$2.7M 144.3K shares
MORGAN STANLEY RIA/Wealth	−$4.8M −256.0K shares	$22.2M 1.2M shares
C CREDIT AGRICOLE S A Institution	−$4.7M −248.5K shares	$5.3M 278.7K shares
GOLDMAN SACHS GROUP INC Institution	−$3.0M −161.2K shares	$4.2M 221.8K shares
Sound Income Strategies, LLC RIA/Wealth	−$3.0M −177.5K shares	$47.0M 2.8M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$2.5M −133.8K shares	$364.3K 19.3K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$2.4M −125.2K shares	$37.0M 2.0M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$2.4M −129.0K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited HTGC in Q3 2025

New Positions: 20
New Value: $5.0M
Exited Positions: 29
Exited Value: $526.8M

New Positions

Institution	Position Value
SAGE ADVISORS, LLC RIA/Wealth	$1.1M 58.0K shares
SMH CAPITAL ADVISORS INC RIA/Wealth	$726.9K 40.6K shares
D DRW Securities, LLC Institution	$667.4K 35.9K shares
CX Institutional RIA/Wealth	$413.3K 21.9K shares
Investment Research Partners LLC Hedge Fund•Multi-Strategy	$393.7K 22.2K shares
W Whipplewood Advisors, LLC RIA/Wealth	$289.7K 15.3K shares
M Massar Capital Management, LP Institution	$275.6K 14.6K shares
Walleye Trading LLC RIA/Wealth	$273.6K 14.5K shares
WORLD EQUITY GROUP, INC. RIA/Wealth	$214.3K 11.3K shares
ARGA Investment Management, LP Long Only Manager	$212.2K 11.2K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$519.5M 28.4M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$2.4M 129.0K shares
B Bryce Point Capital, LLC Hedge Fund•Market Neutral	$673.5K 36.8K shares
Hennion & Walsh Asset Management, Inc. RIA/Wealth	$672.7K 36.8K shares
M MQS Management LLC Hedge Fund•Global Macro	$571.1K 31.2K shares
O OXFORD ASSET MANAGEMENT Institution	$554.6K 30.3K shares
AIGEN INVESTMENT MANAGEMENT, LP Hedge Fund•Long/Short	$427.1K 23.4K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	$352.7K 19.3K shares
B BROWN ADVISORY INC RIA/Wealth	$309.3K 16.9K shares
S Sciencast Management LP Hedge Fund•Quant	$282.3K 15.4K shares

Options Activity

Institutions with the largest Call and Put options positions in HTGC as of Q3 2025

Call Positions: 8
Call Value: $8.7M
Put Positions: 8
Put Value: $12.6M

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.1M 2.2K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.5M 1.3K contracts
W WOLVERINE TRADING, LLC Institution	$836.4K 443.0 contracts
J JANE STREET GROUP, LLC Institution	$813.1K 430.0 contracts
LEUCADIA NATIONAL CORP Institution	$472.8K 250.0 contracts
Walleye Trading LLC RIA/Wealth	$1.9K 1.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	- - contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.2M 2.2K contracts
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$2.8M 1.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.4M 1.2K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.1M 1.1K contracts
W WOLVERINE TRADING, LLC Institution	$915.7K 485.0 contracts
J JANE STREET GROUP, LLC Institution	$268.5K 142.0 contracts
Walleye Trading LLC RIA/Wealth	$28.4K 15.0 contracts
P PEAK6 LLC Institution	- - contracts

Most Committed Institutions

Institutions with HTGC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Muzinich & Co., Inc. Long Only Manager	Justin George Muzinich CEO	7.28% $18.8M	0.55% 992.8K shares	Q4 2014 Held for 10y 11m	$258.0M
Melia Wealth LLC RIA/Wealth	Gregory Scott Melia President	6.74% $15.4M	0.45% 813.5K shares	Q4 2023 Held for 1y 11m	$228.2M
SMH CAPITAL ADVISORS INC RIA/Wealth	Dwayne Alan Moyers President	2.89% $726.9K	0.02% 40.6K shares	Q3 2025 Held for 2 months	$25.1M
Sound Income Strategies, LLC RIA/Wealth	David Joseph Scranton Managing Partner	2.57% $47.0M	1.52% 2.8M shares	Q4 2017 Held for 7y 11m	$1.8B
Left Brain Wealth Management, LLC RIA/Wealth	Noland D Langford Managing Partner	1.73% $5.5M	0.16% 290.9K shares	Q4 2022 Held for 2y 11m	$317.6M
Gilman Hill Asset Management, LLC RIA/Wealth	Jenny Vanleeuwen Harrington CEO	1.71% $11.0M	0.32% 584.1K shares	≤ Q2 2013 Held for 12y 5m+	$646.5M
S SHARPEPOINT LLC RIA/Wealth	Brian David Robinson CCO	1.57% $1.7M	0.05% 88.3K shares	Q4 2024 Held for 11 months	$106.7M
Taylor Frigon Capital Management LLC RIA/Wealth	Gerard Joseph Frigon CIO	1.45% $2.9M	0.08% 154.4K shares	Q4 2017 Held for 7y 11m	$201.1M
S S&T BANK/PA Institution	-	1.43% $4.7M	0.14% 249.0K shares	Q2 2018 Held for 7y 5m	$330.2M
DELPHI MANAGEMENT INC /MA/ Long Only Manager	Scott Myles Black President	1.41% $1.4M	0.04% 74.7K shares	Q2 2023 Held for 2y 5m	$100.5M

Hedge Fund Spotlight

Discover hedge funds investing in HTGC

BALYASNY ASSET MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDmitry Balyasny

Portfolio Value: $48.1B
Positions: 1,894
Last Reported: Q3 2025

Sector Allocation

Position in Hercules Capital

Market Value: $364.3K
Shares Held: 19.3K
Portfolio Weight: 0.00%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 iShares Core S&P 500 ETF IVV	ETF ETF	$1.1B	2.29%
2 Microsoft MSFT	Software - Infrastructure Technology	$1.1B	2.23%
3 Nvidia NVDA	Semiconductors Technology	$905.7M	1.88%