Heritage Global Inc. (HGBL)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Punch & Associates Investment Management, Inc.	2,501,000	$4,626,850	0.25%
2.	Vanguard Group Inc	1,882,365	$3,482,376	0%
3.	Mink Brook Asset Management Llc	1,867,021	$3,453,989	3.3%
4.	Koshinski Asset Management, Inc.	1,009,304	$1,867,212	0.15%
5.	Truffle Hound Capital, Llc	650,000	$1,202,500	0.42%