DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
H•• F••• M••••••••• L•
Latest filing Sep 9, 2026
First filing on the tape Jul 15, 2016 · 16 filings
SEC status approved since Jul 25, 2016
RAUM
$347M
reported, Item 5.F
Discretionary
86%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
11
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$347M as of Mar 27, 2026
Mar 31, 2017$250M then
HNW client RAUM$0 as of Mar 27, 2026
Mar 29, 2018$0 then
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 31, 20170 then
Employees (5.A)11 as of Mar 27, 2026
Mar 31, 20175 then
Private funds10 as of Mar 27, 2026
Mar 31, 20172 then
RAUM -27% over the last fiscal year-31% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Sep 9, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $23.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 86%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -27%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $177M, 5 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has discretionary authority over which securities are bought or sold (8.C.1)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$347M100%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 15reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- $177M for 5 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
7 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| H•• D•••••• F•••••• L• | Hedge Fund | $587M | 58 | Jul 15, 2016 |
| H•• C••••••• C••••• I• L•no longer reported | Other Private Fund | $102M | 41 | Jul 15, 2016 |
| H•• F•••••• D•• | Other Private Fund | $83.1M | 4 | Mar 30, 2019 |
| H•• D•••••• V••••••• I•• L• | Venture Capital Fund | $13.5M | 50 | Mar 31, 2022 |
| H•• D•••••• V•••••••• L• | Venture Capital Fund | $9.4M | 33 | Mar 27, 2020 |
| H•• F••• C••••••• C• L•• | Venture Capital Fund | $1.4M | 15 | Mar 31, 2022 |
| H•• P•••• C••••••• B• L•• | Venture Capital Fund | $169,487 | 7 | Mar 30, 2021 |
Owners and control persons
Schedule A and B, latest filing
- H••••• H•••• F••• · Principalcontrolsince 01/2015 · owns less than 5%
- H•••••• G•••••• J••• · Chief Compliance Officercontrolsince 04/2018 · owns less than 5%
- P••••••• J•••• N•••• · Principalcontrolsince 01/2015 · owns less than 5%
- H••••• H•••• F••• · Sole Membercontrolsince 11/2014 · owns 75% or more of J•••••• L••
- P••••••• J•••• N•••• · Membercontrolsince 11/2014 · owns 75% or more of Mij A••••••••
Entity owners
- H•• F•••• L•• · General Partnerdirect · owns less than 5%
- J•••••• L•• · Limited Partnerdirect · owns 25% to 50%
- M•• A••••••••• L•• · Limited Partnerdirect · owns 25% to 50%
- J•••••• L•• · Memberindirect · owns 25% to 50% of H•• F•••• L••
- M•• A••••••••• L•• · Memberindirect · owns 25% to 50% of H•• F•••• L••
Related persons
Schedule D 7.A
- H•• D• L•• F••••• G• S•• R•••pooled vehicle sponsorn
- H•• D• G•• L••pooled vehicle sponsorn
- H•• D• I• G•• L••pooled vehicle sponsorn
- H•• P••••••• L••pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- RAUM down 25 %Change between filings · filing Mar 27, 2026RAUM (Item 5.F) moved from $478,098,041 to $347,291,670 (-27.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +4.0% (1148 comparable advisers, 10.0th percentile of changes)peers: asset managers, $100M to $500M (1,148) · 9.8% percentile
- private fund count surgeChange between filings · filing Mar 27, 2026private funds (Schedule D 7.B.1) moved from 6.0 to 10.0 (+67.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was 0.0% (735 comparable advisers, 98.0th percentile of changes)peers: asset managers, $100M to $500M (735) · 98% percentile
- employee count dropChange between filings · filing Mar 27, 2026employees (Item 5.A) moved from 23.0 to 11.0 (-52.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was 0.0% (393 comparable advisers, 2.0th percentile of changes)peers: asset managers, $100M to $500M (393) · 2.0% percentile
What changed
consecutive filings, newest first
- Financial planning clients · to unsetMar 27, 2026 to Sep 9, 2026
- Private funds · 10 to unsetMar 27, 2026 to Sep 9, 2026
- Succession · false to unsetMar 27, 2026 to Sep 9, 2026
- Accounts · 10 to 15Jan 29, 2026 to Mar 27, 2026
- Advisory employees · 7 to 5Jan 29, 2026 to Mar 27, 2026
- Pooled vehicle clients · 10 to 15Jan 29, 2026 to Mar 27, 2026
- Assets in custody · $228M to $177MJan 29, 2026 to Mar 27, 2026
- Employees · 23 to 11Jan 29, 2026 to Mar 27, 2026
- Private funds · 6 to 10Jan 29, 2026 to Mar 27, 2026
- Discretionary RAUM · $402M to $298MJan 29, 2026 to Mar 27, 2026
- Non-discretionary RAUM · $76.1M to $48.9MJan 29, 2026 to Mar 27, 2026
- Pooled vehicle RAUM · $478M to $347MJan 29, 2026 to Mar 27, 2026
- RAUM · $478M to $347MJan 29, 2026 to Mar 27, 2026
- Accounts · 11 to 10Mar 27, 2024 to Mar 26, 2025
- Advisory activities · 2 to 1Mar 27, 2024 to Mar 26, 2025
- Assets in custody · $279M to $228MMar 27, 2024 to Mar 26, 2025
- Employees · 27 to 23Mar 27, 2024 to Mar 26, 2025
- Financial planning clients · unset to Mar 27, 2024 to Mar 26, 2025
- Discretionary RAUM · $627M to $402MMar 27, 2024 to Mar 26, 2025
- Non-discretionary RAUM · $83.1M to $76.1MMar 27, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $694M to $478MMar 27, 2024 to Mar 26, 2025
- RAUM · $710M to $478MMar 27, 2024 to Mar 26, 2025
- Accounts · 10 to 11Mar 31, 2023 to Mar 27, 2024
- Advisory employees · 8 to 7Mar 31, 2023 to Mar 27, 2024
- Pooled vehicle clients · 9 to 10Mar 31, 2023 to Mar 27, 2024
- Assets in custody · $354M to $279MMar 31, 2023 to Mar 27, 2024
- Employees · 26 to 27Mar 31, 2023 to Mar 27, 2024
- Discretionary RAUM · $966M to $627MMar 31, 2023 to Mar 27, 2024
- Non-discretionary RAUM · $75.9M to $83.1MMar 31, 2023 to Mar 27, 2024
- Pooled vehicle RAUM · $838M to $694MMar 31, 2023 to Mar 27, 2024
- RAUM · $1.0B to $710MMar 31, 2023 to Mar 27, 2024
- Advisory employees · 4 to 8Jul 21, 2022 to Mar 31, 2023
- Advisory activities · 1 to 2Jul 21, 2022 to Mar 31, 2023
- Assets in custody · $88.9M to $354MJul 21, 2022 to Mar 31, 2023
- Employees · 13 to 26Jul 21, 2022 to Mar 31, 2023
- Discretionary RAUM · $658M to $966MJul 21, 2022 to Mar 31, 2023
- Non-discretionary RAUM · $88.9M to $75.9MJul 21, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $683M to $838MJul 21, 2022 to Mar 31, 2023
- RAUM · $747M to $1.0BJul 21, 2022 to Mar 31, 2023
- Accounts · 6 to 10Mar 30, 2021 to Mar 31, 2022
Signals
9 dated events
- H•• F••• M••••••••• L• reported RAUM $347.3M, down 27% from $478.1M (2026-01-29 to 2026-03-27)Mar 27, 2026 · RAUM change · derived
- H•• F••• M••••••••• L• reported RAUM $478.1M, down 33% from $709.8M (2024-03-27 to 2025-03-26)Mar 26, 2025 · RAUM change · derived
- H•• F••• M••••••••• L• reported RAUM $709.8M, down 32% from $1.0B (2023-03-31 to 2024-03-27)Mar 27, 2024 · RAUM change · derived
- H•• F••• M••••••••• L• reported RAUM $1.0B, up 39% from $747.1M (2022-07-21 to 2023-03-31)Mar 31, 2023 · RAUM change · derived
- H•• F••• M••••••••• L• reported RAUM $747.1M, up 48% from $504.2M (2021-03-30 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- Daniel Gregory Schwieder (Chief Financial Officer) no longer on Schedule A of H•• F••• M••••••••• L• (listed 2021-03-30, absent 2022-03-31)Mar 31, 2022 · Control person left · inference
- H•• F••• M••••••••• L• reported RAUM $554.0M, up 48% from $374.1M (2018-03-29 to 2019-03-30)Mar 30, 2019 · RAUM change · derived
- H•• F••• M••••••••• L• reported RAUM $374.1M, up 50% from $250.1M (2017-09-19 to 2018-03-29)Mar 29, 2018 · RAUM change · derived
- H•• F••• M••••••••• L• filed its initial SEC registration (Form ADV)Jul 15, 2016 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- H•• F••• M••••••••• L• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/hcg-fundsreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 919-300-7702reportedpublic record, Form ADV, Sep 9, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026