> ## 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. # Hedge Fund Database Terms and Conditions & FAQs - URL: https://newsletter.richardtoad.com/public-equity-fund-intelligence-terms-and-conditions/ - Published: 2025-11-22T22:18:04.000Z - Updated: 2026-10-18T04:23:51.000Z - Author: Richard Toad Updated as of: 10/15/2026 ### 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 the database? 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 hedge fund database? Updated quarterly in Mar/Jun/Sep/Dec. ### I only need one of two regions / styles, do you sell by pieces? No, it's sold as a single interactive database. Otherwise an operational nightmare. ### Do you plan to produce similar database for Europe? Credit? Not priorities. # 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. # Terms & Conditions ### Refund policy - **Your first annual payment is non-refundable - no exceptions.** - **We will automatically cancel your subscription, to minimize incidents of accidental renewals.** You will retain access to the service through the end of the billing term already paid for from the original payment date. - If you have any payment-related issues, please [contact us](https://www.richardtoad.com/about?ref=newsletter.richardtoad.com) first so we can resolve them without involving your bank. 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