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.
SEC-registered adviser
Heard Capital LLC
Latest filing Aug 7, 2026
First filing on the tape Jun 25, 2018 · 22 filings
SEC status approved since Dec 2, 2019
RAUM
$2.4B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$1.2B
derived; firm RAUM over IAPD count
Employees
10
5 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
1
reported on Schedule D
History
22 filings and snapshots on the tape
RAUM$2.4B as of Aug 7, 2026
Mar 17, 2020$197M then
HNW client RAUM: no history
State-registered IARs (5.B.3)2 as of Aug 7, 2026
Mar 17, 20200 then
Employees (5.A)10 as of Aug 7, 2026
Mar 17, 20205 then
Private funds1 as of Aug 7, 2026
Mar 17, 20202 then
RAUM +25% over the last fiscal year+34% a year over threeIARs 2 to 2offices 0 to 2
Practice profile
derived from the filing of Aug 7, 2026; every figure names its basis
- RAUM per advisor
- $1.2BderivedRAUM 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
- $200MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 34%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 5.0derivedItem 5.A over advisors
- Advisors per office
- 0.7derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +25%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $1.5B, 2 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$1.5B65%
- Pension and profit-sharing plans$619M26%
- State and municipal entities$121M5.1%
- Charitable organizations$72.3M3.0%
- Other investment advisers$35.9M1.5%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 12reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $1.5B for 2 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=0.66 institutional_share=0.34 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Joseph Kyungmin LeeChartered Financial Analyst | Chicago, Il | Nov 3, 2018 | 11 y | 0 |
| William Ellak Heard | Chicago, Il | Nov 30, 2018 | 15 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
2 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Heard High Conviction Long Only Fund LLC | Hedge Fund | $1.0B | 82 | Oct 31, 2019 |
| Heard Opportunity Master Fund, L.P. | Hedge Fund | $26.4M | 16 | Jun 25, 2018 |
Owners and control persons
Schedule A and B, latest filing
- Mary Erin Casey · Cco, Gc, Caocontrolsince 03/2022 · owns less than 5%
- A Stephen Granstrand · Coo And Cfocontrolsince 04/2019 · owns less than 5%
- E William Heard · Ceo, Cio, Managercontrolsince 06/2010 · owns less than 5%
- E William Heard · Ownercontrolsince 05/2011 · owns 75% or more of Heard Investment Manager LLC
Entity owners
- Heard Investment Manager LLC · Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Chicago, Il · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- high institutional concentrationStatic outlier · filing Aug 7, 2026institutional share of RAUM of 34% against a peer median of 0% (1506 comparable advisers, 99.0th percentile, 11.4 robust deviations)peers: asset managers, $1B to $5B (1,506) · 99% percentile
What changed
consecutive filings, newest first
- Accounts · 13 to 12Mar 31, 2025 to Mar 30, 2026
- Advisory employees · 6 to 5Mar 31, 2025 to Mar 30, 2026
- Pooled vehicle clients · 4 to 2Mar 31, 2025 to Mar 30, 2026
- Assets in custody · $1.2B to $1.5BMar 31, 2025 to Mar 30, 2026
- Employees · 9 to 10Mar 31, 2025 to Mar 30, 2026
- Other offices · 0 to 2Mar 31, 2025 to Mar 30, 2026
- Private funds · 2 to 1Mar 31, 2025 to Mar 30, 2026
- Discretionary RAUM · $1.9B to $2.4BMar 31, 2025 to Mar 30, 2026
- Pension RAUM · $499M to $619MMar 31, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $1.2B to $1.5BMar 31, 2025 to Mar 30, 2026
- RAUM · $1.9B to $2.4BMar 31, 2025 to Mar 30, 2026
- Accounts · 15 to 13Feb 7, 2025 to Mar 31, 2025
- Advisory employees · 4 to 6Feb 7, 2025 to Mar 31, 2025
- Pooled vehicle clients · 5 to 4Feb 7, 2025 to Mar 31, 2025
- Assets in custody · $1.0B to $1.2BFeb 7, 2025 to Mar 31, 2025
- Employees · 7 to 9Feb 7, 2025 to Mar 31, 2025
- Financial planning clients · unset to Feb 7, 2025 to Mar 31, 2025
- Discretionary RAUM · $1.7B to $1.9BFeb 7, 2025 to Mar 31, 2025
- Pension RAUM · unset to 498968029.0Feb 7, 2025 to Mar 31, 2025
- Pooled vehicle RAUM · $1.0B to $1.2BFeb 7, 2025 to Mar 31, 2025
- RAUM · $1.7B to $1.9BFeb 7, 2025 to Mar 31, 2025
- Accounts · 14 to 15Mar 27, 2023 to Mar 26, 2024
- Advisory employees · 3 to 4Mar 27, 2023 to Mar 26, 2024
- Assets in custody · $598M to $1.0BMar 27, 2023 to Mar 26, 2024
- Employees · 6 to 7Mar 27, 2023 to Mar 26, 2024
- State-registered IARs · 0 to 2Mar 27, 2023 to Mar 26, 2024
- Discretionary RAUM · $1.0B to $1.7BMar 27, 2023 to Mar 26, 2024
- Pooled vehicle RAUM · $598M to $1.0BMar 27, 2023 to Mar 26, 2024
- RAUM · $1.0B to $1.7BMar 27, 2023 to Mar 26, 2024
- Accounts · 10 to 14Apr 10, 2022 to Mar 27, 2023
- Advisory employees · 4 to 3Apr 10, 2022 to Mar 27, 2023
- Advisory activities · 3 to 2Apr 10, 2022 to Mar 27, 2023
- Pooled vehicle clients · 4 to 5Apr 10, 2022 to Mar 27, 2023
- Assets in custody · $572M to $598MApr 10, 2022 to Mar 27, 2023
- Employees · 7 to 6Apr 10, 2022 to Mar 27, 2023
- Discretionary RAUM · $698M to $1.0BApr 10, 2022 to Mar 27, 2023
- Pooled vehicle RAUM · $572M to $598MApr 10, 2022 to Mar 27, 2023
- RAUM · $698M to $1.0BApr 10, 2022 to Mar 27, 2023
- Accounts · 9 to 10Oct 14, 2021 to Mar 30, 2022
- Advisory employees · 3 to 4Oct 14, 2021 to Mar 30, 2022
Signals
7 dated events
- Heard Capital Llc reported RAUM $2.4B, up 25% from $1.9B (2025-03-31 to 2026-03-30)Mar 30, 2026 · RAUM change · derived
- Heard Capital Llc reported RAUM $1.7B, up 64% from $1.0B (2023-03-27 to 2024-03-26)Mar 26, 2024 · RAUM change · derived
- Heard Capital Llc reported RAUM $1.0B, up 44% from $697.5M (2022-04-10 to 2023-03-27)Mar 27, 2023 · RAUM change · derived
- Heard Capital Llc reported RAUM $697.5M, up 103% from $344.1M (2021-10-14 to 2022-03-30)Mar 30, 2022 · RAUM change · derived
- Mary Erin Casey (Cco, Gc, Cao) appeared on Schedule A of Heard Capital LlcMar 30, 2022 · Control person joined · fact
- A Stephen Granstrand (Chief Compliance Officer) appeared on Schedule A of Heard Capital LlcOct 31, 2019 · Control person joined · fact
- Heard Capital Llc filed its initial SEC registration (Form ADV)Jun 25, 2018 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/heard-capitalreportedpublic record, Form ADV, Sep 18, 2026
- Website
- HEARDCAPITAL.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 312-786-5210reportedpublic record, Form ADV, Aug 7, 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
- $1.2Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026