Hedgeye Fourth Turning ETF
HEFT
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- Hedgeye Asset Management, LLC (HAM) provides actively managed exchange-traded funds grounded in proprietary macro research and generational theory; its flagship offering, the Hedgeye Fourth Turning ETF (HEFT, NYSE Arca), employs a dynamic long-short equity strategy seeking long-term real capital appreciation through investments in equities, fixed income, commodities, currencies, ETFs, and derivatives, including up to 150% long exposure and 50% short exposure via swaps, options, futures, or other instruments. HEFT integrates Hedgeye's quantitative models—such as Quads and Signals—with thematic insights from Fourth Turning theory to target opportunities amid demographic shifts, reinflation, protectionism, industrial policy, re-armament, and geopolitical tensions from 2026 to 2036; the fund maintains neutral or reduced market beta via dynamic hedging and invests across U.S. and limited international securities (up to 20%). As of December 2025, HEFT's portfolio features long positions in commodities like gold (GLD), silver (SLV), platinum (PPLT), Walmart (WMT), Exxon Mobil (XOM), and defense names such as General Dynamics (GD) and Huntington Ingalls (HII), alongside shorts in high-yield bonds (HYG, JNK), long Treasuries (TLT, XTEN), and consumer discretionary stocks like Chipotle (CMG). A subsidiary of Hedgeye Risk Management, LLC—founded in 2008 and headquartered in Stamford, Connecticut—HAM operates in the financial services industry, serving institutional and retail investors seeking macro-driven, risk-managed strategies. The firm develops ETFs, indices, and model portfolios based on Hedgeye's intellectual property, with a focus on U.S. equity and hedged strategies amid macroeconomic regime changes. In November 2025, HAM launched HEFT, co-managed by demographer Neil Howe—author of Fourth Turning theory—and veteran portfolio manager R. Patrick “RPK” Kent, formerly of Wellington Management, BNY Mellon, and CR Intrinsic, marking HAM's expansion into thematic ETFs responsive to generational cycles. This debut builds on HAM's prior ETF introductions, such as the Hedgeye 130/30 Equity ETF (HELS), and leverages partnerships with ETF Opportunities Trust for issuance, enhancing its lineup of actively managed funds amid rising demand for non-consensus macro strategies. No further acquisitions, funding rounds, or major reorganizations have been reported for HAM or HEFT in the past year.