> ## Content Index > Fetch the complete content index at: https://newsletter.richardtoad.com/llms.txt > Use this file to discover other available public pages before exploring further. # FAQs & Hedge Fund Sample Table - URL: https://newsletter.richardtoad.com/hf-sample/ - Published: 2025-11-20T06:54:27.000Z - Updated: 2026-10-03T05:08:53.000Z - Author: Richard Toad - Tags: Fund Intelligence All hedge funds in one place, sortable and searchable. ### What fund does into your database? - We only include independent, U.S.-headquartered single-stock picking institutional investment firms, which means excluding: - Bank-owned asset management firms (ie. GSAM) - multi-manager PMs (ie. a "pod") - single-manager seeded by a multi-manager platform (eg. Tamridge under Millennium) - U.S. subsidiaries of non-American investment firms (such as Vontobel) - wealth managers, financial advisors, financial planners, etc. - global macro funds, prop trading shops, family offices - most credit, cross-capital structure shops are NOT covered if they mostly focus on the credit (maybe do some equity stubs). - If a fund does other asset classes (such as privates), we focus our research entirely on the public equity investing side of a fund. - All firms covered are >$100 million RAUM. ### What info about the funds does your fund database contain? Refer to the [free sample database](https://newsletter.richardtoad.com/hf-sample/) to get a sense of depth of intel on each fund. *I do not receive a single dime from the covered firms. Content may change without prior notice. Certain funds may be unintentionally excluded, but we will update promptly if we discover more.* ### What resources did you use to create these primers? 100% based on public information. For legal reasons, I do not comment on firm culture, ongoing legal proceedings (unless they are facts publicized by major presses), founder personality, etc. ### How often do you update the primers? Updated quarterly in Mar/Jun/Sep/Dec. ### I only need one/two primers, do you sell by pieces? No, it's sold as a single interactive database. Otherwise an operational nightmare. ### Do you plan to produce a primer for Europe? Credit funds? Not priorities. # Fund database methodology ## Hedge funds #### **Style** I classify funds into **value**, **growth**, **event-driven**, **activist**, **healthcare (biotech/biopharma)**, **low-net/market-neutral (LN/MN)**, **Tiger lineage**, and **contrarian**. If a founder **worked at a fund started by someone who worked at Tiger Management or a Tiger Cub hedge fund**, I classify the fund as **Tiger lineage**. **“Contrarian”** are funds that are open to both growth and value ideas, or run **long GoodCo/short BadCo** type portfolios. Some hedge funds invest **long-only**. I still label them as hedge funds because the founders often came from hedge funds and tend to **trade more actively** than career long-only PMs. #### Key people alma mater I list the **more well-known schools first** for sorting purposes. You can always **search your school in the search box** and see which founders went to your school. #### Lineage I only list **hedge funds or notable long-onlys** to help you trace a fund’s style lineage (ie. if the founder worked at Soros, high chance the fund has a macro overlay). The key point: founder's prior employers heavily influence their investment style. ### Long-onlys AUM information will be updated by April of each year as funds file their annual disclose which should include updated AUM information. I classify them as **value, growth, or diversified.** **Diversified** means the firm offers multiple strategies - for example value, growth, income, or ESG funds. All mega long-onlys (eg. Fidelity, Wellington, Capital Group, T Rowe) fall into this category. I used to have a category called **“GARP / wide moat.”** But too many people argued with me about whether a firm is *really* wide moat or not, and I don’t want to fight that fight anymore. If relevant, I’ve left **“wide moat” or “GARP”** in the fund descriptions. You can just **search those keywords** to filter them. #### Use cases The search works for your keyword in all fields: from fund name, all the way to the text inside the details column. Example use cases: - If you want to find all Wharton / Penn alumni, search "Wharton" or "UPenn" This is particularly important when a fund has multiple founders, to save space on the table itself, I left the education info of all founders in the description, and a search will filter out all the funds with Wharton / Penn ties. - Looking for funds founded by alumni of Farallon? Search "Farallon" - Want to work for funds that do some level of activism, not just activist funds? Search for "activism" or "activist"; Same goes for biotech / biopharma / life science. - Looking for low-net / market-neutral funds? Search "low-net" or "market-neutral" (with or without spaces) or "LN/MN" - Looking for funds that fit your location and style filters? Use the two filters - Looking for funds that fit your desired Regulatory Assets Under Management? Use the RAUM filter. ****Very important**: RAUM are the gross assets under management, without subtraction of borrowings, short sales, or other forms of leverage. ****The figure might not be indicative of a hedge fund's true AUM.** #### Legends LN/MN - Low-net/market-neutral; LO - Long-only; EM - Emerging Market - ****Mid-Atlantic:** Maryland (****MD**), Pennsylvania (****PA**), Virginia (****VA**), Delaware (****DE**), District of Columbia (****DC**) - ****Midwest:** Iowa (****IA**), Kansas (****KS**), Michigan (****MI**), Minnesota (****MN**), Missouri (****MO**), Nebraska (****NE**), Ohio (****OH**), Wisconsin (****WI**) - ****Southeast:** Alabama (****AL**), Arkansas (****AR**), Georgia (****GA**), Kentucky (****KY**), North Carolina (****NC**), Oklahoma (****OK**), South Carolina (****SC**), Tennessee (****TN**) - ****West:** Colorado (****CO**), Hawaii (****HI**), Nevada (****NV**), New Mexico (****NM**), Oregon (****OR**), Utah (****UT**), Washington (****WA**), Puerto Rico (****PR**) ****RAUM**: we use the "Discretionary" figure from Form ADV Part 1, Item 5, Part (2)(a); the as-of date of the figure is in parentheses. RAUM are the GROSS assets under management, which includes borrowings, short sales, or other forms of leverage. ****The figure might not be indicative of a hedge fund's true AUM.** View all Filter by region ▼ Tags Clear all Filter by style ▼ Style Clear all Filter by RAUM ($M) ▼ RAUM ($M) Clear – ✕ Clear all filters Loading fund data… | Name | Style | Founded | City | Founder(s) | Alma Mater | Lineage | Details | RAUM | RAUM\_raw | Tags | New | | ---- | ----- | ------- | ---- | ---------- | ---------- | ------- | ------- | ---- | --------- | ---- | --- |