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Casey Capital
John Casey runs Casey Capital as a concentrated, value-oriented public-equity partnership founded in 2005, aligned by a performance-only fee structure.
Casey Capital
John Casey founded Casey Capital in 2005 in Ridgewood, New Jersey, after a career in financial services and private investing. The firm operates as a registered investment adviser, structured to give Casey the freedom to run a concentrated portfolio without the distraction of marketing to a broad institutional base or managing daily redemptions. The wealth backing the strategy is primarily that of Casey himself and a small number of co-investing families who share his long-duration time horizon. Casey Capital pursues a deep-value, concentrated equity strategy across public markets, frequently holding positions for five years or longer. The firm targets misunderstood or out-of-favor companies, emphasizing balance-sheet strength and a margin of safety. Sectors of focus include financial services, industrials, and consumer discretionary, with holdings typically numbering fewer than twenty names. The firm is known for building positions quietly, often in small- and mid-cap companies, and has historically avoided the technology sector, preferring asset-heavy or cash-flow-stable businesses where book value provides a clear downside floor. The firm's scale is modest by institutional standards, and detailed public position disclosures appear in quarterly 13F filings. Casey himself writes periodic investor letters that circulate informally among value-investing circles, known for their blunt assessments of market cycles and specific company theses. The firm maintains no additional offices and does not sponsor parallel venture, credit, or real-asset vehicles, operating as a single-strategy equity partnership. Casey Capital has deliberately avoided asset-gathering, turning away capital when deployment opportunities are scarce. Casey Capital's structural differentiator is its refusal to charge management fees on committed capital, instead earning only on realized performance — a fee model that aligns the firm with investors who measure returns in decades, not quarters. This architecture, combined with the majority of investable assets representing Casey's personal net worth, creates a partnership dynamic that few registered investment advisers replicate. The firm has no succession plan publicly disclosed, with the strategy effectively tied to Casey's tenure as portfolio manager.
General information
Firm type
Asset Manager
Year founded
2005
AUM
$100M - $500M (Altss estimate)
Location
Region
North America
Country
United States
City
Ridgewood
Corporate office
Ridgewood, NJ, United States
Principals
John Casey
Founder and Portfolio Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Casey Capital?
John Casey is the founder and sole portfolio manager. All investment decisions trace to him. The firm has not disclosed a succession plan or deputy with shared decision-making authority, making the strategy inextricably linked to Casey's continued tenure.
How is Casey Capital compensated?
Casey Capital earns only on realized investment performance, charging no management fee on committed capital. This structure aligns the manager with long-term investors, as the firm generates revenue only when it produces gains that exceed a high-water mark. This is uncommon among registered investment advisers, where asset-based fees are standard.
Does Casey Capital invest in private companies or venture capital?
No. Casey Capital concentrates exclusively on publicly traded equities. The firm does not sponsor private-credit, venture, or real-asset vehicles, nor does it participate in pre-IPO rounds. Its sole strategy is deep-value public-equity investing with a multi-year holding period.
How concentrated is the Casey Capital portfolio?
The firm typically holds fewer than twenty positions, with the top five often representing a majority of invested capital. Casey's investor letters describe a willingness to let cash build when bargains are scarce, reflecting a benchmark-agnostic approach that prioritizes absolute return over relative performance against an index.
What sectors does Casey Capital avoid?
The firm has historically avoided technology and other sectors where intangible assets dominate the balance sheet, favoring asset-heavy or cash-flow-stable businesses in financial services, industrials, and consumer discretionary. Casey's thesis-driven approach requires a tangible margin of safety, which he finds more readily in book-value-heavy companies.
Does Casey Capital accept outside capital?
Casey Capital manages capital for John Casey and a small group of co-investing families. The firm has not broadly marketed to institutions or the public, and has been known to return capital or refuse new commitments when it cannot find suitable deployment opportunities. The partnership is deliberately capacity-constrained.
How does Casey Capital source investment ideas?
Idea generation relies on fundamental, bottoms-up screening of out-of-favor small- and mid-cap companies, often those with low institutional coverage. Casey's process emphasizes balance-sheet analysis and management quality assessments, with position-building conducted quietly to avoid moving prices in less-liquid names. The firm does not rely on sell-side research or external consultants.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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