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Hedgeye Asset Management
Hedgeye Asset Management, founded by Keith McCullough in 2008, is an independent macro research and advisory firm serving institutional clients.
Hedgeye Asset Management
Keith McCullough founded Hedgeye Asset Management in 2008, building it on the premise that rigorous, real-time macro research can generate consistent alpha independent of sell-side influence. McCullough had previously served as CEO of a macro hedge fund and as a sell-side analyst at CIBC World Markets. The firm is headquartered in Stamford, Connecticut. Hedgeye's investment process centers on a proprietary macro model called the "Quad" — a framework that categorizes the economic cycle into four quadrants based on growth and inflation regimes. The firm publishes daily research across asset classes including equities, fixed income, currencies, and commodities. Its institutional client base includes pension funds, endowments, and family offices that rely on Hedgeye's calls rather than committing capital to a managed vehicle. The firm does not run a fund-of-funds or direct investment pool; clients execute trades based on Hedgeye's recommendations. The firm employs roughly two dozen professionals across research, sales, and operations. Its research platform covers sectors such as Energy, Healthcare, Technology, and Financials. Hedgeye has maintained a public-facing presence through media appearances, a popular podcast, and a conference series. In 2024, the firm expanded its research coverage to include more granular sector-specific subscription tiers (per the firm's official communications). Hedgeye's structural differentiator is its independence from asset gathering. The firm earns revenue solely through research subscriptions and advisory fees, not management or performance fees from a commingled fund. This design aligns the firm's incentives with client outcomes — a model that remains rare in the institutional research landscape.
General information
Firm type
RIA
Year founded
2008
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Stamford
Corporate office
Stamford, CT, United States
Principals
Keith R. McCullough
CEO & Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Hedgeye Asset Management?
Keith McCullough serves as CEO and Chief Investment Officer. He founded the firm in 2008 and remains the primary voice behind its macro and equity research calls (per the firm's website).
Does Hedgeye manage pooled investment vehicles like a typical hedge fund?
No. Hedgeye operates as an RIA that provides research and advisory services. It does not manage commingled funds or charge performance fees. Clients receive research and recommendations but execute trades independently (per public record).
What is the 'Quad' model and how does it inform Hedgeye's research?
The Quad is Hedgeye's proprietary framework that segments the economic cycle into four quadrants based on the interaction of growth and inflation rates. The firm believes that identifying the current quadrant enables more precise sector and asset-class positioning. This model is central to all Hedgeye research output (per the firm's published materials).
What asset classes does Hedgeye cover?
Hedgeye publishes research on global equities, fixed income, currencies, commodities, and macro themes. Its coverage spans US and international markets with emphasis on sectors such as Energy, Healthcare, Technology, and Financials (per the firm's official communications).
Who are Hedgeye's typical clients?
Hedgeye's client base consists largely of institutional investors — pension funds, endowments, foundations, and family offices — that subscribe to its research platform or engage it for advisory work (per public record).
How does Hedgeye generate revenue if it doesn't manage assets?
Revenue comes from paid research subscriptions and advisory fees. This creates a business model where Hedgeye's incentive is to provide accurate, actionable research rather than grow AUM (per the firm's official communications).
What is Hedgeye's view on the current macro environment?
Hedgeye publishes its macro outlook regularly through its research platform and media appearances. The firm has historically expressed bearish views on inflation and valuations, advocating for defensive positioning and commodity exposure depending on the Quad regime (per public commentary).
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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