# HG Capital Management, LLC

> HG Capital Management, LLC is an SEC-registered investment advisory firm in Nashville, TN, registered since 2021, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 163613
- Filed as: HG CAPITAL MANAGEMENT, LLC
- Also doing business as: HG CAPITAL MANAGEMENT III, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Nashville, TN
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/163613
- AdvisorCensus page: https://advisorcensus.com/firm/hg-capital-management-llc-nashville-tn-163613

## Quick answers

**How is HG Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), HG Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is HG Capital Management, LLC located?**
HG Capital Management, LLC's principal office is in Nashville, TN, according to its Form ADV.

**Is HG Capital Management, LLC registered with the SEC or a state?**
HG Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 163613.

**How much does HG Capital Management, LLC manage?**
HG Capital Management, LLC reports $1,210,962,266 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).

**How have HG Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for HG Capital Management, LLC: Regulatory assets under management: $745,360,153 in the October 2021 data and $1,210,962,266 in the October 2026 data, up 62%. Total employees: 14 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does HG Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does HG Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/163613

**What changed in HG Capital Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $1,210,962,266
- Discretionary: $1,210,962,266
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $1,210,962,266 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2021 (5 years)
- Employees: 14 total, 11 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TN
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- heritagegroupusa.com
- LinkedIn @heritage-group-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $745,360,153 | 14 | September 3, 2021 |
| October 2022 | $697,716,311 | 13 | March 22, 2022 |
| October 2023 | $736,648,988 | 14 | March 22, 2023 |
| October 2024 | $806,473,742 | 14 | March 15, 2024 |
| October 2025 | $1,119,575,438 | 14 | March 31, 2025 |
| October 2026 | $1,210,962,266 | 14 | March 25, 2026 |

Regulatory assets under management: $745,360,153 in the October 2021 data and $1,210,962,266 in the October 2026 data, up 62%.
Total employees: 14 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. HG Capital Management, LLC (CRD 163613): Form ADV filing data as of October 2026.