Hercules Capital, Inc. (HCXY) is the 46th largest of 250 Business Development Companies companies by market capitalisation, at 4.65 Bn, behind Colliers International Group Inc. at 4.85 Bn. It trades on a P/E of 20.07, 12% below the peer median of 22.85. The table below compares all 250 on 8 financial metrics.
| # | Ticker | Company | match | industry_code | industry_group | industry_group_code | Market Capitalization | P/E | P/S | Enterprise Value |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ARCC | Ares Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 14.14 Bn | 22.85 | 4.55 | 13.76 Bn |
| 2 | BXSL | Blackstone Secured Lending Fund | primary | F-07 | Lending and Credit | FG-02 | 5.70 Bn | 17.26 | 4.19 | 5.44 Bn |
| 3 | OBDC | Blue Owl Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 5.54 Bn | 33.60 | 3.26 | 5.30 Bn |
| 4 | MAIN | Main Street Capital CORP | primary | F-07 | Lending and Credit | FG-02 | 5.29 Bn | 15.43 | 9.20 | 5.23 Bn |
| 5 | OTF | Blue Owl Technology Finance Corp. | primary | F-07 | Lending and Credit | FG-02 | 5.08 Bn | 114.51 | 3.89 | 4.87 Bn |
| 6 | HCXY | Hercules Capital, Inc. | primary | F-07 | Lending and Credit | FG-02 | 4.65 Bn | 20.07 | 8.21 | 4.60 Bn |
| 7 | FSK | FS KKR Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 3.42 Bn | — | 2.60 | 3.31 Bn |
| 8 | GBDC | GOLUB CAPITAL BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 3.32 Bn | -38.05 | 4.14 | 3.27 Bn |
| 9 | PFLA | PennantPark Floating Rate Capital Ltd. | primary | F-07 | Lending and Credit | FG-02 | 2.48 Bn | 157.39 | 9.14 | -0.13 Bn |
| 10 | MFICL | MidCap Financial Investment Corp | primary | F-07 | Lending and Credit | FG-02 | 2.07 Bn | 110.21 | 6.87 | 2.03 Bn |
| 11 | TSLX | Sixth Street Specialty Lending, Inc. | primary | F-07 | Lending and Credit | FG-02 | 1.71 Bn | 28.21 | 4.18 | 1.52 Bn |
| 12 | TRIN | Trinity Capital Inc. | primary | F-07 | Lending and Credit | FG-02 | 1.64 Bn | 9.63 | 4.88 | 1.62 Bn |
| 13 | CSWC | Capital Southwest Corp | primary | F-07 | Lending and Credit | FG-02 | 1.49 Bn | 21.46 | 6.28 | 1.43 Bn |
| 14 | MSDL | Morgan Stanley Direct Lending Fund | primary | F-07 | Lending and Credit | FG-02 | 1.27 Bn | 36.54 | 3.41 | 1.19 Bn |
| 15 | CICB | CION Investment Corp | primary | F-07 | Lending and Credit | FG-02 | 1.25 Bn | -135.05 | 5.39 | 1.25 Bn |
| 16 | OCSL | Oaktree Specialty Lending Corp | primary | F-07 | Lending and Credit | FG-02 | 1.12 Bn | 20.76 | 2.48 | 1.08 Bn |
| 17 | GSBD | Goldman Sachs BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 1.09 Bn | 2.88 | 3.58 | 1.09 Bn |
| 18 | PSEC | Prospect Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 1.06 Bn | 35.88 | 1.07 | 1.01 Bn |
| 19 | FRBP | Franklin BSP Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 1.01 Bn | 1,233.29 | 2.52 | 0.98 Bn |
| 20 | BBDC | Barings BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.93 Bn | 164.38 | 3.49 | 0.88 Bn |
| 21 | KBDC | Kayne Anderson BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.88 Bn | -10.88 | — | 0.88 Bn |
| 22 | CGBD | Carlyle Secured Lending, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.80 Bn | 21.55 | 3.07 | 0.75 Bn |
| 23 | BCSF | Bain Capital Specialty Finance, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.76 Bn | 32.86 | 2.87 | 0.66 Bn |
| 24 | FDUS | FIDUS INVESTMENT Corp | primary | F-07 | Lending and Credit | FG-02 | 0.74 Bn | — | 4.37 | 0.71 Bn |
| 25 | NMFC | New Mountain Finance Corp | primary | F-07 | Lending and Credit | FG-02 | 0.69 Bn | 62.00 | 2.41 | 0.63 Bn |
| 26 | SLRC | SLR Investment Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.68 Bn | 7.62 | 3.24 | 0.68 Bn |
| 27 | GAIN | Gladstone Investment Corporation\De | primary | F-07 | Lending and Credit | FG-02 | 0.65 Bn | 209.56 | 6.23 | 0.65 Bn |
| 28 | NCDL | Nuveen Churchill Direct Lending Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.61 Bn | — | 3.19 | 0.57 Bn |
| 29 | MSIF | Msc Income Fund, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.57 Bn | 21.82 | 4.09 | 0.54 Bn |
| 30 | GLAD | Gladstone Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 0.45 Bn | 10.35 | 4.54 | 0.45 Bn |
| 31 | SAJ | Saratoga Investment Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.41 Bn | -23.29 | 4.23 | 0.03 Bn |
| 32 | CCAP | Crescent Capital BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.38 Bn | 6.12 | 2.42 | -1.18 Bn |
| 33 | TCPC | BlackRock TCP Capital Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.34 Bn | 1.69 | — | 0.18 Bn |
| 34 | PSBD | Palmer Square Capital BDC Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.32 Bn | 3.55 | 2.77 | 0.32 Bn |
| 35 | HRZN | Horizon Technology Finance Corp | primary | F-07 | Lending and Credit | FG-02 | 0.32 Bn | 4.53 | 3.29 | 0.32 Bn |
| 36 | RWAY | Runway Growth Finance Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.28 Bn | -2.95 | 2.08 | 0.27 Bn |
| 37 | NSLR | Neostellar Capital Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.26 Bn | -5.97 | — | -0.15 Bn |
| 38 | SCM | Stellus Capital Investment Corp | primary | F-07 | Lending and Credit | FG-02 | 0.24 Bn | -61.99 | 2.50 | 0.24 Bn |
| 39 | PNNT | Pennantpark Investment Corp | primary | F-07 | Lending and Credit | FG-02 | 0.24 Bn | -96.93 | 2.27 | -0.99 Bn |
| 40 | LIEN | Chicago Atlantic BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.23 Bn | 7.54 | 4.14 | 0.23 Bn |
| 41 | TPVG | TriplePoint Venture Growth BDC Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.21 Bn | 2.61 | 2.34 | 0.21 Bn |
| 42 | WHF | WhiteHorse Finance, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.15 Bn | -60.06 | 2.34 | 0.14 Bn |
| 43 | OXSQ | Oxford Square Capital Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.13 Bn | 4.46 | 3.39 | 0.13 Bn |
| 44 | BCIC | BCP Investment Corp | primary | F-07 | Lending and Credit | FG-02 | 0.09 Bn | — | 1.29 | 0.09 Bn |
| 45 | PFX | PhenixFIN Corp | primary | F-07 | Lending and Credit | FG-02 | 0.09 Bn | 3.92 | 9.05 | -0.22 Bn |
| 46 | GECC | Great Elm Capital Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.08 Bn | 76.48 | 1.93 | -0.15 Bn |
| 47 | AFCG | Advanced Flower Capital Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.08 Bn | -25.03 | 2.69 | 0.08 Bn |
| 48 | OFS | OFS Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 0.05 Bn | -7.26 | 1.49 | 0.05 Bn |
| 49 | RAND | Rand Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 0.03 Bn | 10.89 | 5.62 | 0.03 Bn |
| 50 | EQS | Equus Total Return, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.01 Bn | 2.07 | 10.12 | 0.01 Bn |
| 51 | ICMB | Investcorp Credit Management BDC, Inc. | primary | F-07 | Lending and Credit | FG-02 | 0.01 Bn | -4.00 | 5.36 | 0.00 Bn |
| 52 | PIAC | Princeton Capital Corp | primary | F-07 | Lending and Credit | FG-02 | 0.00 Bn | 22.08 | 5.07 | -0.01 Bn |
| 53 | LAAI | Loan Artificial Intelligence Corp. | primary | F-07 | Lending and Credit | FG-02 | 0.00 Bn | -0.06 | — | 0.00 Bn |
| 54 | QCOM | Qualcomm Inc/De | secondary | T-01 | Semiconductors | TG-01 | 182.52 Bn | 19.71 | 4.14 | 174.22 Bn |
| 55 | UBS | UBS Group AG | secondary | F-02 | Banking | FG-01 | 173.66 Bn | 20.08 | 7.54 | 173.66 Bn |
| 56 | BLK | BlackRock, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 169.89 Bn | 25.81 | 6.22 | 156.02 Bn |
| 57 | BNY | Bank of New York Mellon Corp | secondary | F-21 | Capital Markets | FG-05 | 111.71 Bn | 18.54 | 5.23 | 50.49 Bn |
| 58 | BX | Blackstone Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 107.26 Bn | 15.71 | 6.66 | 104.75 Bn |
| 59 | KKR | KKR & Co. Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 94.91 Bn | 31.74 | 4.45 | -182.16 Bn |
| 60 | BN | BROOKFIELD Corp /ON/ | secondary | F-11 | Asset and Wealth Management | FG-03 | 88.30 Bn | 61.84 | 1.15 | 57.51 Bn |
| 61 | DB | Deutsche Bank Aktiengesellschaft | secondary | F-02 | Banking | FG-01 | 80.28 Bn | 9.55 | 2.15 | 80.28 Bn |
| 62 | APO | Apollo Global Management, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 78.20 Bn | 43.98 | 2.18 | 52.83 Bn |
| 63 | BAM | Brookfield Asset Management Ltd. | secondary | F-11 | Asset and Wealth Management | FG-03 | 78.08 Bn | 27.84 | 13.61 | 76.58 Bn |
| 64 | WPM | Wheaton Precious Metals Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 70.42 Bn | 31.42 | 21.46 | 70.32 Bn |
| 65 | FNV | FRANCO NEVADA Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 50.91 Bn | 32.89 | 21.98 | 49.37 Bn |
| 66 | IX | Orix Corp | secondary | F-06 | Lending and Credit | FG-02 | 43.85 Bn | 10.93 | 1.96 | 43.85 Bn |
| 67 | ARES | Ares Management Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 31.30 Bn | 58.49 | 5.23 | 31.30 Bn |
| 68 | PFG | Principal Financial Group Inc | secondary | F-09 | Asset and Wealth Management | FG-03 | 24.84 Bn | 15.75 | 1.58 | -28.13 Bn |
| 69 | MKL | Markel Group Inc. | secondary | F-13 | Insurance | FG-04 | 22.46 Bn | 9.80 | 1.45 | 5.58 Bn |
| 70 | FTAI | FTAI Aviation Ltd. | secondary | I-01 | Aerospace and Defense | IG-01 | 20.18 Bn | 42.25 | 6.48 | 19.85 Bn |
| 71 | LEN | Lennar Corp /New/ | secondary | D-08 | Homebuilding | DG-03 | 19.36 Bn | 9.69 | 0.59 | 17.17 Bn |
| 72 | BEN | Franklin Resources Inc | secondary | F-09 | Asset and Wealth Management | FG-03 | 17.84 Bn | 15.69 | 1.91 | 14.12 Bn |
| 73 | CG | Carlyle Group Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 16.48 Bn | 30.47 | 4.56 | 15.22 Bn |
| 74 | IVZ | Invesco Ltd. | secondary | F-09 | Asset and Wealth Management | FG-03 | 14.63 Bn | -47.33 | 2.12 | 13.72 Bn |
| 75 | RNR | Renaissancere Holdings Ltd | secondary | F-15 | Insurance | FG-04 | 13.36 Bn | 5.14 | 1.20 | -13.13 Bn |
| 76 | AFG | American Financial Group Inc | secondary | F-13 | Insurance | FG-04 | 11.72 Bn | 13.42 | 1.42 | -6.13 Bn |
| 77 | JEF | Jefferies Financial Group Inc. | secondary | F-17 | Capital Markets | FG-05 | 11.68 Bn | 14.66 | 0.99 | -3.77 Bn |
| 78 | AMG | Affiliated Managers Group, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 9.51 Bn | 9.03 | 4.19 | 9.10 Bn |
| 79 | VOYA | Voya Financial, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 9.31 Bn | 16.43 | 1.14 | 6.96 Bn |
| 80 | ARE | Alexandria Real Estate Equities, Inc. | secondary | R-02 | Property REITs | RG-01 | 8.70 Bn | -8.43 | 3.06 | 7.59 Bn |
| 81 | TPG | TPG Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 8.40 Bn | 12.39 | 1.62 | 7.45 Bn |
| 82 | OWL | Blue Owl Capital Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 7.74 Bn | 22.86 | 2.59 | 7.57 Bn |
| 83 | VCTR | Victory Capital Holdings, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 7.05 Bn | 19.94 | 4.52 | 6.98 Bn |
| 84 | TFPM | Triple Flag Precious Metals Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 6.89 Bn | 14.36 | 14.11 | 6.88 Bn |
| 85 | RITM | Rithm Capital Corp. | secondary | F-08 | Lending and Credit | FG-02 | 5.57 Bn | 16.64 | 1.10 | 5.57 Bn |
| 86 | PFH | Prudential Financial Inc | secondary | F-12 | Insurance | FG-04 | 5.31 Bn | 1.36 | 0.08 | -26.61 Bn |
| 87 | PIPR | Piper Sandler Companies | secondary | F-17 | Capital Markets | FG-05 | 5.21 Bn | 14.31 | 2.46 | 4.90 Bn |
| 88 | GLXY | Galaxy Digital Inc. | secondary | F-22 | Capital Markets | FG-05 | 5.20 Bn | -18.70 | 0.09 | 3.65 Bn |
| 89 | HASI | HA Sustainable Infrastructure Capital, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 5.04 Bn | 56.66 | 10.89 | 4.79 Bn |
| 90 | WTM | White Mountains Insurance Group Ltd | secondary | F-13 | Insurance | FG-04 | 5.01 Bn | 4.24 | 1.31 | -6.41 Bn |
| 91 | PECO | Phillips Edison & Company, Inc. | secondary | R-03 | Property REITs | RG-01 | 4.93 Bn | — | 6.57 | 4.93 Bn |
| 92 | PJT | PJT Partners Inc. | secondary | F-17 | Capital Markets | FG-05 | 4.88 Bn | 13.01 | 2.59 | 4.27 Bn |
| 93 | CIGI | Colliers International Group Inc. | secondary | R-16 | Real Estate Services | RG-04 | 4.85 Bn | 29.17 | 0.81 | 4.58 Bn |
| 94 | IEP | Icahn Enterprises L.P. | secondary | E-06 | Refining and Marketing | EG-03 | 4.62 Bn | -10.43 | 0.43 | 2.65 Bn |
| 95 | IBOC | International Bancshares Corp | secondary | F-01 | Banking | FG-01 | 4.45 Bn | 10.79 | 58.07 | 4.45 Bn |
| 96 | LAZ | Lazard, Inc. | secondary | F-17 | Capital Markets | FG-05 | 4.45 Bn | 29.38 | 1.34 | 3.35 Bn |
| 97 | HLNE | Hamilton Lane INC | secondary | F-11 | Asset and Wealth Management | FG-03 | 4.20 Bn | 9.65 | 4.90 | 3.87 Bn |
| 98 | STEP | StepStone Group Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 4.02 Bn | — | — | 3.12 Bn |
| 99 | CNS | Cohen & Steers, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 4.00 Bn | 15.09 | 4.73 | 3.94 Bn |
| 100 | WT | WisdomTree, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 3.61 Bn | 45.10 | 5.93 | 3.32 Bn |
| 101 | BRBI | BRBI BR Partners S.A. | secondary | F-17 | Capital Markets | FG-05 | 3.49 Bn | 223.06 | 31.37 | 3.38 Bn |
| 102 | AB | Alliancebernstein Holding L.P. | secondary | F-09 | Asset and Wealth Management | FG-03 | 3.43 Bn | — | — | 3.43 Bn |
| 103 | SII | Sprott Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 3.32 Bn | 31.60 | 8.30 | 3.13 Bn |
| 104 | AAMI | Acadian Asset Management Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 3.30 Bn | 28.08 | 4.94 | 3.24 Bn |
| 105 | AGO | Assured Guaranty Ltd | secondary | F-13 | Insurance | FG-04 | 3.24 Bn | 8.46 | 3.45 | -0.55 Bn |
| 106 | DBRG | DigitalBridge Group, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 2.88 Bn | 10.24 | 3.63 | 2.38 Bn |
| 107 | APAM | Artisan Partners Asset Management Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 2.72 Bn | 7.29 | 2.18 | 2.39 Bn |
| 108 | AKR | Acadia Realty Trust | secondary | R-03 | Property REITs | RG-01 | 2.71 Bn | 51.87 | 6.73 | 2.71 Bn |
| 109 | OAK-PA | Brookfield Oaktree Holdings, LLC | secondary | F-11 | Asset and Wealth Management | FG-03 | 2.40 Bn | 7.99 | 3.89 | 2.40 Bn |
| 110 | PGY | Pagaya Technologies Ltd. | secondary | T-56 | Fintech | TG-09 | 1.85 Bn | 15.83 | 1.33 | 1.60 Bn |
| 111 | PAX | Patria Investments Ltd | secondary | F-11 | Asset and Wealth Management | FG-03 | 1.79 Bn | -156.29 | 57.63 | 1.61 Bn |
| 112 | INVA | Innoviva, Inc. | secondary | H-01 | Pharmaceuticals and Biotechnology | HG-01 | 1.56 Bn | 7.97 | 3.03 | 0.98 Bn |
| 113 | KW | Kennedy-Wilson Holdings, Inc. | secondary | R-19 | Property Developers | RG-05 | 1.52 Bn | 96.40 | 3.11 | 1.37 Bn |
| 114 | WD | Walker & Dunlop, Inc. | secondary | F-05 | Lending and Credit | FG-02 | 1.40 Bn | 39.62 | 1.09 | 1.24 Bn |
| 115 | PWP | Perella Weinberg Partners | secondary | F-17 | Capital Markets | FG-05 | 1.22 Bn | 43.73 | 1.77 | 1.11 Bn |
| 116 | BTCK | Teucrium Commodity Trust | secondary | F-09 | Asset and Wealth Management | FG-03 | 1.10 Bn | -19.62 | 12.00 | 0.57 Bn |
| 117 | CIM | Chimera Investment Corp | secondary | F-08 | Lending and Credit | FG-02 | 0.97 Bn | -11.53 | — | 0.53 Bn |
| 118 | BUR | Burford Capital Ltd | secondary | F-06 | Lending and Credit | FG-02 | 0.96 Bn | -0.57 | 0.50 | 0.96 Bn |
| 119 | PURR | Hyperliquid Strategies Inc | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.96 Bn | 2.31 | 153.40 | 0.82 Bn |
| 120 | ABX | Abacus Global Management, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.93 Bn | 32.96 | 3.48 | 0.91 Bn |
| 121 | RPC | Ridgepost Capital, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.91 Bn | 27.46 | 2.90 | 0.87 Bn |
| 122 | ANSC | Agriculture & Natural Solutions Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.85 Bn | -71.21 | 55.39 | 0.85 Bn |
| 123 | GCMG | GCM Grosvenor Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.80 Bn | 5.23 | 1.40 | 0.66 Bn |
| 124 | FPH | Five Point Holdings, LLC | secondary | R-18 | Property Developers | RG-05 | 0.76 Bn | 5.45 | 6.49 | 0.41 Bn |
| 125 | CNNE | Cannae Holdings, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.68 Bn | -1.55 | 1.14 | 0.61 Bn |
| 126 | FERA | Fifth Era Acquisition Corp I | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.66 Bn | 167.87 | — | 0.66 Bn |
| 127 | DMII | Drugs Made In America Acquisition II Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.65 Bn | 187.73 | — | 0.65 Bn |
| 128 | ELE | Elemental Royalty Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.63 Bn | 0.14 | 8.61 | 0.56 Bn |
| 129 | LPBB | Launch Two Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.62 Bn | 90.72 | — | 0.62 Bn |
| 130 | LPAA | Launch One Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.62 Bn | 101.38 | — | 0.62 Bn |
| 131 | VINP | Vinci Compass Investments Ltd. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.61 Bn | 15.11 | 3.07 | 0.59 Bn |
| 132 | ABTC | American Bitcoin Corp. | secondary | T-59 | Fintech | TG-09 | 0.60 Bn | -2.41 | 2.21 | 0.58 Bn |
| 133 | ALFUU | Centurion Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.60 Bn | 80.86 | — | 0.60 Bn |
| 134 | HCAC | Hall Chadwick Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.59 Bn | -882.00 | — | 0.59 Bn |
| 135 | NOAH | Noah Holdings Ltd | secondary | F-09 | Asset and Wealth Management | FG-03 | 0.58 Bn | 6.83 | 1.54 | -0.16 Bn |
| 136 | AXIN | Axiom Intelligence Acquisition Corp 1 | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.56 Bn | 132.31 | — | 0.56 Bn |
| 137 | GLRE | Greenlight Capital Re, Ltd. | secondary | F-15 | Insurance | FG-04 | 0.50 Bn | 9.80 | 0.69 | -0.20 Bn |
| 138 | PLMKU | Plum Acquisition Corp, IV | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.46 Bn | 120.26 | — | 0.46 Bn |
| 139 | ACTG | Acacia Research Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.44 Bn | -29.46 | 1.59 | 0.12 Bn |
| 140 | HAVA | Harvard Ave Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.42 Bn | 197.87 | — | 0.42 Bn |
| 141 | ALDFU | Aldel Financial II Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.40 Bn | 46.56 | — | 0.40 Bn |
| 142 | ALTI | AlTi Global, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 0.38 Bn | -2.63 | 1.37 | 0.35 Bn |
| 143 | SDHI | Siddhi Acquisition Corp (Cayman Islands) | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.37 Bn | 46.22 | — | 0.37 Bn |
| 144 | BDCI | BTC Development Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.35 Bn | 133.55 | — | 0.35 Bn |
| 145 | SBXD | SilverBox Corp IV | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.35 Bn | 43.77 | — | 0.35 Bn |
| 146 | BEAG | Bold Eagle Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.34 Bn | 51.68 | — | 0.34 Bn |
| 147 | NMP | NMP Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.33 Bn | 144.45 | — | 0.33 Bn |
| 148 | SZZL | Sizzle Acquisition Corp. II | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.33 Bn | 55.14 | — | 0.33 Bn |
| 149 | VOXR | Vox Royalty Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.32 Bn | 6.15 | 33.95 | 0.29 Bn |
| 150 | TVA | Texas Ventures Acquisition III Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.32 Bn | 114.05 | — | 0.32 Bn |
| 151 | ATII | Archimedes Tech SPAC Partners II Co. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.32 Bn | -3.12 | — | 0.32 Bn |
| 152 | TACO | Berto Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.31 Bn | 45.31 | — | 0.31 Bn |
| 153 | NPAC | New Providence Acquisition Corp. III/Cayman | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.31 Bn | 38.74 | — | 0.31 Bn |
| 154 | MRLN | Merlin, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.31 Bn | -1.40 | 42.72 | 0.31 Bn |
| 155 | BACCU | Blue Acquisition Corp/Cayman | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.30 Bn | 96.11 | — | 0.30 Bn |
| 156 | ANVI | Anvi Global Holdings, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.30 Bn | -1,464.07 | — | 0.30 Bn |
| 157 | AACB | Artius II Acquisition Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.29 Bn | 75.58 | — | 0.29 Bn |
| 158 | NHIC | NewHold Investment Corp. III | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.29 Bn | 9,172.61 | — | 0.29 Bn |
| 159 | UCFI | CN Healthy Food Tech Group Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.29 Bn | — | — | 0.25 Bn |
| 160 | FACTU | FACT II Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.26 Bn | 90.42 | — | 0.26 Bn |
| 161 | TMCR | Metals Royalty Co Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.26 Bn | -15.00 | — | 0.26 Bn |
| 162 | BLUW | Blue Water Acquisition Corp. III | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.26 Bn | 214.32 | — | 0.26 Bn |
| 163 | VNME | Vendome Acquisition Corp I | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.26 Bn | — | — | 0.26 Bn |
| 164 | CUB | Lionheart Holdings | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.25 Bn | 165.47 | — | 0.25 Bn |
| 165 | TONT | Graf Global Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.25 Bn | 61.18 | — | 0.25 Bn |
| 166 | COPL | Copley Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.25 Bn | -449.38 | — | 0.07 Bn |
| 167 | DYNC | Dynamix Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.24 Bn | 7.60 | — | 0.24 Bn |
| 168 | DAAQ | Digital Asset Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.24 Bn | 42.57 | — | 0.24 Bn |
| 169 | IRHO | Iron Horse Acquisition II Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.24 Bn | 118.57 | — | 0.24 Bn |
| 170 | HDSN | Hudson Technologies Inc /Ny | secondary | M-02 | Chemicals | MG-01 | 0.23 Bn | 25.17 | 0.88 | 0.20 Bn |
| 171 | LWAC | LightWave Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.22 Bn | 38.83 | — | 0.22 Bn |
| 172 | QSEAU | Quartzsea Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.22 Bn | 478.40 | — | 0.22 Bn |
| 173 | CEPO | Cantor Equity Partners I, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.22 Bn | -38.07 | — | 0.22 Bn |
| 174 | EGHA | EGH Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.21 Bn | 57.18 | — | 0.21 Bn |
| 175 | DEFT | Defi Technologies, Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 0.21 Bn | 8.90 | 3.47 | 0.13 Bn |
| 176 | PGAC | PANTAGES CAPITAL ACQUISITION Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.20 Bn | 126.41 | — | 0.20 Bn |
| 177 | ENHA | Enhanced Group Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.19 Bn | -2.97 | 34.84 | 0.19 Bn |
| 178 | FRNM | Freenome, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.17 Bn | — | — | 0.17 Bn |
| 179 | CHEC | Chenghe Acquisition III Co. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.17 Bn | 95.75 | — | 0.17 Bn |
| 180 | NAKA | Nakamoto Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.16 Bn | -0.38 | 4.01 | 0.14 Bn |
| 181 | GSHR | Gesher Acquisition Corp. II | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.16 Bn | 49.04 | — | 0.16 Bn |
| 182 | INAC | Indigo Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.15 Bn | 51.89 | — | 0.15 Bn |
| 183 | CEPS | Cantor Equity Partners VI, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.15 Bn | 222.02 | — | 0.15 Bn |
| 184 | NBRG | Newbridge Acquisition Ltd | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.15 Bn | 768.59 | — | 0.15 Bn |
| 185 | QUMS | Quantumsphere Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.15 Bn | -333.51 | — | 0.15 Bn |
| 186 | TAVIU | Tavia Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.15 Bn | 84.09 | — | 0.15 Bn |
| 187 | GHI | Greystone Housing Impact Investors LP | secondary | F-08 | Lending and Credit | FG-02 | 0.15 Bn | -17.58 | 1.85 | 0.15 Bn |
| 188 | KVAC | Keen Vision Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.13 Bn | 122.37 | — | 0.13 Bn |
| 189 | CHARU | Charlton Aria Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.12 Bn | 56.42 | — | 0.12 Bn |
| 190 | GTEN | Gores Holdings X, Inc. / CI | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.09 Bn | 99.03 | — | 0.09 Bn |
| 191 | ALCUF | Alchemy Investments Acquisition Corp 1 | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.09 Bn | -32.59 | — | 0.09 Bn |
| 192 | ORIQ | Origin Investment Corp I | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.09 Bn | — | — | 0.09 Bn |
| 193 | LCCC | Lakeshore Acquisition III Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.09 Bn | -33.68 | — | 0.09 Bn |
| 194 | INV | Innventure, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.09 Bn | -0.14 | 28.09 | 0.09 Bn |
| 195 | ESHA | ESH Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.08 Bn | -42.04 | — | 0.08 Bn |
| 196 | FVN | Future Vision II Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.08 Bn | 37.41 | — | 0.08 Bn |
| 197 | BHIC | BioScience Health Innovations, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.07 Bn | -117.63 | 15.22 | 0.07 Bn |
| 198 | GEG | Great Elm Group, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.07 Bn | -1.88 | 2.40 | 0.01 Bn |
| 199 | UYSC | UY Scuti Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.06 Bn | — | — | 0.02 Bn |
| 200 | BPAC | Blueport Acquisition Ltd | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.06 Bn | 75.33 | — | 0.06 Bn |
| 201 | EURK | Eureka Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.06 Bn | 1,211.65 | — | 0.06 Bn |
| 202 | LGL | Lgl Group Inc | secondary | T-15 | Computer Hardware | TG-02 | 0.05 Bn | -274.90 | 10.24 | 0.05 Bn |
| 203 | DOMH | Dominari Holdings Inc. | secondary | F-09 | Asset and Wealth Management | FG-03 | 0.05 Bn | -0.44 | 0.35 | 0.02 Bn |
| 204 | BXBL | BOXABL Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.04 Bn | -3.50 | — | 0.04 Bn |
| 205 | CAPN | Cayson Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.04 Bn | 31.89 | — | 0.04 Bn |
| 206 | LKSP | Lake Superior Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.04 Bn | 40.79 | — | 0.04 Bn |
| 207 | TRLC | TriLinc Global Impact Fund LLC | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.04 Bn | 10.44 | — | 0.04 Bn |
| 208 | PLUT | Plutus Financial Group Ltd | secondary | F-17 | Capital Markets | FG-05 | 0.04 Bn | -7.97 | 29.19 | 0.04 Bn |
| 209 | MLCI | Mount Logan Capital Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.04 Bn | -0.61 | 0.76 | -0.06 Bn |
| 210 | BSAA | BEST SPAC I Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.03 Bn | 15.69 | — | 0.03 Bn |
| 211 | GRNQ | Greenpro Capital Corp. | secondary | F-10 | Asset and Wealth Management | FG-03 | 0.03 Bn | -11.93 | 16.44 | 0.03 Bn |
| 212 | SDEV | Stablecoin Development Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.03 Bn | 0.05 | 5.36 | 0.02 Bn |
| 213 | CTRM | Castor Maritime Inc. | secondary | I-21 | Transportation | IG-05 | 0.02 Bn | 0.29 | 0.29 | 0.02 Bn |
| 214 | ASPC | ASPAC III Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.02 Bn | -22.64 | — | 0.02 Bn |
| 215 | YTFD | Yale Transaction Finders, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.02 Bn | -489.45 | — | 0.02 Bn |
| 216 | WTG | Wintergreen Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.02 Bn | 25.09 | — | 0.02 Bn |
| 217 | MDRR | Medalist Diversified, Inc. | secondary | R-19 | Property Developers | RG-05 | 0.02 Bn | 1.46 | 2.03 | 0.01 Bn |
| 218 | EVAC-WT | EQV Ventures Acquisition Corp. II | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.02 Bn | 1.33 | — | 0.02 Bn |
| 219 | MDBH | MDB Capital Holdings, LLC | secondary | F-17 | Capital Markets | FG-05 | 0.02 Bn | -1.25 | — | 0.01 Bn |
| 220 | VLOSW | Velos Acquisition I Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | 3.96 | — | 0.01 Bn |
| 221 | FACWW | Factorial Energy Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | -2.33 | — | 0.01 Bn |
| 222 | NGLD | Nevada Canyon Gold Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | — | — | 0.01 Bn |
| 223 | AGLY | Atlantis Glory Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | -303.33 | — | 0.01 Bn |
| 224 | HWKE | Hawkeye Systems, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | -23.89 | — | 0.01 Bn |
| 225 | HDRNW | Hadron Energy, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | 0.52 | — | 0.01 Bn |
| 226 | HVIIR | Hennessy Capital Investment Corp. VII | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | — | — | 0.01 Bn |
| 227 | RANGR | Range Capital Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | 2.21 | — | 0.01 Bn |
| 228 | XITO | Xenous Holdings, Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | — | — | 0.01 Bn |
| 229 | SRRE | Sunrise Real Estate Group Inc | secondary | R-18 | Property Developers | RG-05 | 0.01 Bn | -0.24 | 1.90 | -0.07 Bn |
| 230 | ALISR | Calisa Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | 93.63 | — | 0.01 Bn |
| 231 | CRAQR | Cal Redwood Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.01 Bn | 1.14 | — | 0.01 Bn |
| 232 | KOYNW | CSLM Digital Asset Acquisition Corp III, Ltd | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 2.44 | — | 0.00 Bn |
| 233 | JACS-RI | Jackson Acquisition Co II | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.71 | — | 0.00 Bn |
| 234 | CWD | CaliberCos Inc. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | -0.19 | 0.28 | 0.00 Bn |
| 235 | GPATW | GP-Act III Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.58 | — | 0.00 Bn |
| 236 | DMAAR | Drugs Made In America Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.90 | — | 0.00 Bn |
| 237 | KCHVR | Kochav Defense Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.70 | — | 0.00 Bn |
| 238 | KFIIR | K&F Growth Acquisition Corp. Ii | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.32 | — | 0.00 Bn |
| 239 | FMHS | Farmhouse, Inc. /Nv | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | -2.69 | 4,595.96 | 0.00 Bn |
| 240 | SPEGR | Silver Pegasus Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 3.66 | — | 0.00 Bn |
| 241 | LAFAR | LaFayette Acquisition Corp. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 3.86 | — | 0.00 Bn |
| 242 | GTERR | Globa Terra Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | — | — | 0.00 Bn |
| 243 | BNBX | Bnb Plus Corp. | secondary | H-10 | Medical Devices and Diagnostics | HG-02 | 0.00 Bn | -0.04 | 0.52 | 0.00 Bn |
| 244 | CHPGR | ChampionsGate Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.34 | — | 0.00 Bn |
| 245 | IPEXR | Inflection Point Acquisition Corp. V | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.24 | — | 0.00 Bn |
| 246 | AFJKR | Aimei Health Technology Co., Ltd. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | — | — | 0.00 Bn |
| 247 | DTSQR | DT Cloud Star Acquisition Corp | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | -1.25 | — | 0.00 Bn |
| 248 | YHNAR | YHN Acquisition I Ltd | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.31 | — | 0.00 Bn |
| 249 | PLTYF | Plastec Technologies, Ltd. | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | -1.04 | — | -0.01 Bn |
| 250 | RFAIR | RF Acquisition Corp II | secondary | F-11 | Asset and Wealth Management | FG-03 | 0.00 Bn | 0.07 | — | 0.00 Bn |