Terms of Service

Last Updated: June 1, 2025

Welcome to Hedge Recon (the "Site"). These Terms of Service ("Terms") govern your access to and use of the Site and its content, features, and services (collectively, the "Services") provided by Hedge Recon ("we," "us," or "our"). Please read these Terms carefully.

1. Acceptance of Terms

By accessing or using our Site and Services, you signify your agreement to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms, you are not authorized to access or use the Site or Services. We reserve the right to modify these Terms at any time. Such modifications will be effective immediately upon posting the modified Terms on the Site. Your continued access or use of the Site following such posting shall be deemed your conclusive acceptance of the modified Terms.

2. Description of Service and Data Source

Hedge Recon provides tools and analysis based on data extracted from SEC Form 13F filings. Form 13F is a quarterly report filed by institutional investment managers managing over $100 million in certain U.S. equity securities. Our Services involve processing, analyzing, and presenting this publicly available data in various formats.

3. Use of the Website and Services

a) Eligibility: You must be at least 18 years of age, or the age of legal majority in your jurisdiction, to use our Services. By using the Services, you represent and warrant that you meet this age requirement.

b) Permitted Use: We grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Site and Services for your personal, non-commercial informational and educational purposes only, strictly in accordance with these Terms.

c) Prohibited Conduct: You agree not to use the Site or Services for any unlawful purpose or in any way that could damage, disable, overburden, or impair the Site. Prohibited activities include, but are not limited to:

  • Violating any applicable laws or regulations.
  • Attempting to gain unauthorized access to our computer systems or engaging in any activity that disrupts, diminishes the quality of, interferes with the performance of, or impairs the functionality of, the Services or the Site.
  • Using any automated means (e.g., robots, spiders, scrapers) to access the Site for any purpose without our express written permission, particularly for bulk data extraction or replication of substantial portions of the Site's content or database.
  • Reproducing, duplicating, copying, selling, reselling, or exploiting any portion of the Service, use of the Service, or access to the Service without express written permission by us.
  • Circumventing or attempting to circumvent any security or access control measures implemented on the Site.

4. Intellectual Property Rights

The Site and its original content (excluding publicly sourced 13F data itself but including our analysis, compilations, textual descriptions, design, code, graphics, and user interface) features, and functionality are and will remain the exclusive property of Hedge Recon and its licensors. Our trademarks and trade dress may not be used in connection with any product or service without the prior written consent of Hedge Recon.

5. Disclaimers and Limitations of Liability

a) Nature of 13F Data and Our Services: You acknowledge and agree that the Services provided by Hedge Recon are based on SEC Form 13F data, which has significant inherent limitations. These limitations include, but are not limited to:

  • Reporting Lag: Data is filed up to 45 days after the end of a calendar quarter and can be 45-135 days old by the time it is processed and displayed. It is historical and not reflective of current real-time holdings.
  • Scope: Form 13F primarily covers long positions in U.S. exchange-traded equities and certain other securities. It generally excludes short positions, most bonds, derivatives, commodities, and direct foreign holdings. This provides an incomplete picture of a manager's total assets or strategy.
  • Snapshot Data: Filings represent holdings as of a specific quarter-end date only. Intra-quarter trading activity (positions bought and sold between reporting dates) is not captured.
  • Data Accuracy: 13F data is self-reported by institutional managers. While we strive to process this data accurately, we do not guarantee the accuracy, completeness, or timeliness of the source data or our interpretation thereof. Errors can exist in the original filings.
  • No Investment Rationale: Filings indicate what is held but not the reasons behind investment decisions. Interpretations of strategy are analytical inferences.

b) No Investment Advice: THE CONTENT AND DATA PROVIDED ON HEDGE RECON ARE FOR INFORMATIONAL, EDUCATIONAL, AND DEMONSTRATIONAL PURPOSES ONLY. NOTHING ON THIS SITE CONSTITUTES OR SHOULD BE CONSTRUED AS INVESTMENT ADVICE, FINANCIAL ADVICE, TRADING ADVICE, A RECOMMENDATION, OR AN OFFER OR SOLICITATION TO BUY OR SELL ANY SECURITY OR FINANCIAL INSTRUMENT. Hedge Recon is not a registered investment advisor or broker-dealer. You should conduct your own thorough research and due diligence, and consult with a qualified financial professional, before making any investment decisions. Reliance on any information provided by the Site is solely at your own risk.

c) "AS IS" and "AS AVAILABLE" Basis: THE SITE AND SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT ANY WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, ACCURACY, COMPLETENESS, OR RELIABILITY. WE DO NOT WARRANT THAT THE SITE WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

d) Limitation of Liability: TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, HEDGE RECON, ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND LICENSORS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS OR REVENUES, WHETHER INCURRED DIRECTLY OR INDIRECTLY, OR ANY LOSS OF DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES, RESULTING FROM (I) YOUR ACCESS TO OR USE OF OR INABILITY TO ACCESS OR USE THE SERVICES; (II) ANY CONDUCT OR CONTENT OF ANY THIRD PARTY ON THE SERVICES; (III) ANY CONTENT OBTAINED FROM THE SERVICES; OR (IV) UNAUTHORIZED ACCESS, USE, OR ALTERATION OF YOUR TRANSMISSIONS OR CONTENT, EVEN IF HEDGE RECON HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

6. Indemnification

You agree to indemnify, defend, and hold harmless Hedge Recon and its affiliates, officers, directors, employees, agents, and licensors from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) that such parties may incur as a result of or arising from your (or anyone using your account's) violation of these Terms or your use or misuse of the Site or Services.

7. Governing Law and Jurisdiction

All matters relating to the Site and these Terms, and any dispute or claim arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be governed by and construed in accordance with the internal laws of the State of California without giving effect to any choice or conflict of law provision or rule. Any legal suit, action, or proceeding arising out of, or related to, these Terms or the Site shall be instituted exclusively in the federal courts of the United States or the courts of the State of California located in Los Angeles, California.

8. Severability and Waiver

If any provision of these Terms is held to be unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these Terms and shall not affect the validity and enforceability of any remaining provisions. No waiver by Hedge Recon of any term or condition set forth in these Terms shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition.

9. Changes to Terms of Service

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will make reasonable efforts to provide at least 30 days' notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion. By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms.

10. Contact Information

If you have any questions about these Terms, please contact us:

By email: contact@hedgerecon.com

Or visit our Contact Page.