Heeney Capital

John Heeney, the founder and Chief Investment Officer, is the sole portfolio manager. The firm operates a single-PM structure, meaning all investment decisions — from individual equity positions to portfolio-level macro hedges — are made directly by Heeney. This structure is common among Tiger Cub and other high-conviction equity shops and distinguishes the firm from multi-manager platforms like Citadel or Millennium, where capital is allocated across dozens of independent PM teams.

The firm does not publicly disclose assets under management. Based on its single-PM structure, the concentrated nature of its 13F filings, and typical sizing for similar post-Goldman launches, Altss estimates the firm manages between $100 million and $500 million. The 13F filing threshold of $100 million in US-listed equities provides a floor, while the absence of large-scale institutional marketing or a multi-office footprint keeps the estimate below $500 million.

John Heeney's trajectory reflects a common path for macro-aware equity managers. He worked at Goldman Sachs, gaining exposure to institutional trading and risk management, before moving to Citadel, where he operated within one of the large multi-strategy platforms. These two experiences — Goldman's flow-based markets perspective and Citadel's systematic risk discipline — inform the hybrid macro-fundamental approach Heeney Capital uses. He founded the firm in 2011.

Risk management is integrated into the single-PM structure. Because Heeney is both the portfolio manager and the de facto chief risk officer, macro hedges are deployed directly at the book level without a separate risk-taking overlay. The concentrated nature of the book means individual position risk is high relative to a diversified long-only fund, but the ability to short individual names and use index or macro instruments provides a direct offset. This architectural simplicity — one person carrying the entire risk framework — is both the strength and the key-person risk of the firm.