Swan Hedged Equity US Large Cap ETF
HEGD
80 hedge funds and large institutions have $538M invested in Swan Hedged Equity US Large Cap ETF in 2025 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 40 increasing their positions, 20 reducing their positions, and 4 closing their positions.
275% more first-time investments, than exits
New positions opened: 15 | Existing positions closed: 4
100% more repeat investments, than reductions
Existing positions increased: 40 | Existing positions reduced: 20
50% more funds holding in top 10
Funds holding in top 10: 6 → 9 (+3)
33% more capital invested
Capital invested by funds: $405M → $538M (+$133M)
16% more funds holding
Funds holding: 69 → 80 (+11)
7.84% more ownership
Funds ownership: 81.47% → 89.3% (+7.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Carson Wealth (CWM LLC)
Omaha,
Nebraska
|
+$34.6M |
| 2 |
LC
Legacy CG
Plano,
Texas
|
+$17M |
| 3 |
Franklin Resources
San Mateo,
California
|
+$13M |
| 4 |
SGI
Swan Global Investments
Durango,
Colorado
|
+$7.66M |
| 5 |
MWM
MY Wealth Management
Germantown,
Maryland
|
+$6.45M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$32.6M |
| 2 |
MSWA
Marshall & Sterling Wealth Advisors
Poughkeepsie,
New York
|
-$342K |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$326K |
| 4 |
RGF
Retirement Guys Formula
Maumee,
Ohio
|
-$236K |
| 5 |
IWA
Icon Wealth Advisors
Houston,
Texas
|
-$125K |
HEGD Hedge Fund Activity: Q4 2025 in Review
80 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Swan Hedged Equity US Large Cap ETF (HEGD) for Q4 2025, worth a combined $538M — up 33% from $405M a quarter earlier.
Buyers outnumbered sellers: 15 funds opened new HEGD positions and 4 closed out — a net gain of 11 holders — while 40 added to existing stakes and 20 trimmed.
The largest buyer was Carson Wealth (CWM LLC), adding an estimated $34.6M. The largest seller was Envestnet Asset Management, cutting an estimated $32.6M.
- 80 institutional investors held Swan Hedged Equity US Large Cap ETF (HEGD) as of Q4 2025, up from 69 in Q3 2025.
- Funds reported $538M of Swan Hedged Equity US Large Cap ETF stock for Q4 2025, up 33% quarter-over-quarter.
- 15 funds opened new Swan Hedged Equity US Large Cap ETF positions in Q4 2025 and 4 closed out, a net change of +11 holders.
- The largest Swan Hedged Equity US Large Cap ETF buyer in Q4 2025 was Carson Wealth (CWM LLC), an estimated $34.6M added.
- The largest Swan Hedged Equity US Large Cap ETF seller in Q4 2025 was Envestnet Asset Management, an estimated $32.6M sold.
Based on aggregated 13F filings for Q4 2025.