Hercules Capital, Inc.: which funds bought and sold

Institutions that bought and sold Hercules Capital shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 163 institutions that filed 13F reports for both quarters added to or opened positions in Hercules Capital, and 147 cut or closed them. Together they added a net 1.3M shares, +2.5% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 1.2M shares (−10.9%); index fund managers were net buyers of 150K shares (+12.6%). 30 opened a new position and 46 sold out entirely.

Bought, Q2 2026 163 institutions, 30 of them new holders Sold, Q2 2026 147 institutions, 46 of them sold out

Net change, all compared +1.3M shares (+2.5%)

Net change, active managers −1.2M shares (−10.9%), 10 bought, 14 sold

Buyers versus sellers

institutions compared, 371

163 bought 61 147 sold

Active managers and hedge funds 10 bought · 14 sold · −1.2M

Index fund managers 4 bought · 0 sold · +150K

Other institutions 149 bought · 133 sold · +2.3M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Citadel Advisors LLC Hedge fund	+2.1M +260.2%	2.9M	$46.3M
Van Eck Associates Corp	+714K +22.6%	3.9M	$61.2M
Morgan Stanley	+548K +43.3%	1.8M	$28.6M
Janney Montgomery Scott LLC	+329K New position	329K	$5.2M
Sound Income Strategies, LLC	+285K +8.4%	3.7M	$57.8M
Franklin Resources Inc Active manager	+248K +21.9%	1.4M	$21.8M
Legal & General Group PLC	+183K +12.2%	1.7M	$26.5M
Cambridge Investment Research Advisors, Inc.	+155K +98.9%	312K	$4.9M
UBS Group AG	+152K +6.1%	2.6M	$41.7M
Ilex Capital Partners (UK) LLP	+146K New position	146K	$2.3M
Border To Coast Pensions Partnership Ltd	+125K +26.3%	600K	$9.5M
Elemental Capital Partners LLC	+121K New position	121K	$1.9M
HRT Financial LP	+118K +23.8%	613K	$9.7M
Tectonic Advisors LLC	+113K +12.7%	1.0M	$15.9M
Occudo Quantitative Strategies LP	+112K New position	112K	$1.8M
Osaic Holdings, Inc.	+90K +90.1%	191K	$3M
Summit Financial, LLC	+81K +200.9%	121K	$1.9M
Balyasny Asset Management L.P. Hedge fund	+81K +53.2%	233K	$3.7M
Blackrock, Inc. Index funds	+69K +8.1%	924K	$14.6M
Abundance Wealth Counselors	+66K +105.8%	128K	$2M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Citadel Advisors LLC Hedge fund	+2.1M +260.2%	2.9M	$46.3M
Franklin Resources Inc Active manager	+248K +21.9%	1.4M	$21.8M
Balyasny Asset Management L.P. Hedge fund	+81K +53.2%	233K	$3.7M
Capstone Investment Advisors, LLC Hedge fund	+49K New position	49K	$779,306
Mangrove Partners Im, LLC Hedge fund	+47K New position	47K	$743,524
Squarepoint Ops LLC Hedge fund	+28K +195.9%	42K	$669,847
Lazard Asset Management LLC Active manager	+24K +19.6%	149K	$2.3M
Quantbot Technologies LP Hedge fund	+17K +26.8%	81K	$1.3M
Neuberger Berman Group LLC Active manager	+2,900 +1.0%	305K	$4.8M
Riverbridge Partners LLC Active manager	+321 +0.4%	91K	$1.4M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Qube Research & Technologies Ltd Hedge fund	−1.5M −68.9%	694K	$10.9M
Millennium Management LLC Hedge fund	−921K −93.5%	64K	$1M
Trexquant Investment LP Hedge fund	−378K −80.3%	93K	$1.5M
Engineers Gate Manager LP Hedge fund	−354K −90.2%	38K	$605,773
Voloridge Investment Management, LLC Hedge fund	−279K −92.7%	22K	$345,063
Melia Wealth LLC	−246K −30.7%	554K	$8.7M
D. E. Shaw & Co., Inc. Hedge fund	−176K −11.3%	1.4M	$21.7M
Jump Financial, LLC	−167K −84.9%	30K	$466,571
Rare Wolf Capital LLC	−131K Sold out	0	—
Goldman Sachs Group Inc	−120K −31.3%	264K	$4.2M
Lansforsakringar Fondforvaltning AB (Publ)	−107K Sold out	0	—
Susquehanna International Group, LLP	−104K −23.6%	338K	$5.3M
Barclays PLC	−77K −32.2%	163K	$2.6M
Jefferies Financial Group Inc.	−75K −81.7%	17K	$266,261
International Assets Investment Management, LLC	−65K −51.8%	60K	$947,777
DNB Asset Management As	−60K Sold out	0	—
Brevan Howard Capital Management LP Hedge fund	−59K −48.5%	63K	$991,949
Two Sigma Investments, LP Hedge fund	−59K −2.5%	2.3M	$35.7M
Group One Trading LLC	−59K −57.7%	43K	$680,239
Xtx Topco Ltd	−52K −48.4%	56K	$877,853

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Qube Research & Technologies Ltd Hedge fund	−1.5M −68.9%	694K	$10.9M
Millennium Management LLC Hedge fund	−921K −93.5%	64K	$1M
Trexquant Investment LP Hedge fund	−378K −80.3%	93K	$1.5M
Engineers Gate Manager LP Hedge fund	−354K −90.2%	38K	$605,773
Voloridge Investment Management, LLC Hedge fund	−279K −92.7%	22K	$345,063
D. E. Shaw & Co., Inc. Hedge fund	−176K −11.3%	1.4M	$21.7M
Brevan Howard Capital Management LP Hedge fund	−59K −48.5%	63K	$991,949
Two Sigma Investments, LP Hedge fund	−59K −2.5%	2.3M	$35.7M
Magnetar Financial LLC Hedge fund	−29K Sold out	0	—
Caxton Associates LLP Hedge fund	−27K Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Janney Montgomery Scott LLC	329K	$5.2M
Ilex Capital Partners (UK) LLP	146K	$2.3M
Elemental Capital Partners LLC	121K	$1.9M
Occudo Quantitative Strategies LP	112K	$1.8M
J.W. Cole Advisors, Inc.	58K	$912,418
Capstone Investment Advisors, LLCHedge fund	49K	$779,306
Mangrove Partners Im, LLCHedge fund	47K	$743,524
Two Sigma Securities, LLC	28K	$436,529
Quantinno Capital Management LP	26K	$411,988
Mission Hills Financial Advisory, LLC	16K	$254,677

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Rare Wolf Capital LLC	131K	$1.9M
Lansforsakringar Fondforvaltning AB (Publ)	107K	$1.6M
DNB Asset Management As	60K	$883,261
Campbell & Co Investment Adviser LLC	51K	$758,853
Autumn Glory Partners, LLC	45K	$664,650
Fieldview Capital Management, LLC	40K	$596,974
Aquatic Capital Management LLC	39K	$582,972
Magnetar Financial LLCHedge fund	29K	$427,134
Entropy Technologies, LP	27K	$404,905
Caxton Associates LLPHedge fund	27K	$404,698

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 329
Ten largest holders: 45.4%
Index fund managers: 2.6%
Active managers and hedge funds: 19.5%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	10	14	2	4	−1.2M	−10.9%
Index fund managers	4	0	0	0	+150K	+12.6%
Other institutions	149	133	28	42	+2.3M	+6.2%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Hercules Capital.

Only managers that filed a holdings report for both quarters are compared (371 here). 12 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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