William Heard

Heard started his eponymous fund a decade ago when he was still in his twenties, but it wasn’t until seven years later that he really started seeking major investors. Since opening up the fund more broadly, it has garnered much more recognition: In the past two years, Chicago-based Heard Capital’s assets have ballooned from $35 million to more than $250 million—thanks in part to infusions from institutional investors including Teacher Retirement System of Texas, one of the top pension funds. With a concentrated portfolio holding just roughly 20 stocks, Heard also counts several prominent figures among his investors, including Robert Smith, the billionaire founder of private equity firm Vista Equity Partners. During the pandemic, Heard has also begun measuring his performance in a new way, saying video calls have generated “a meaningful return on time.”