Terms of Use

Terms of Use

Important Information

The material on this website is intended for Accredited Investor1 and Qualified Purchaser2 use only.

You must read the following information before proceeding. The following Terms of Use govern your use of this website. Your use of this website constitutes your acceptance of the Terms of Use. If you do not agree with the Terms of Use, you should immediately cease use of this website.

This website presents information that is owned or licensed by Heard Capital LLC (“Heard Capital” or the “Firm”). All of the information and content on this website is owned by Heard Capital, is confidential and intended solely for the individual for whom website access has been granted. If you have been granted access to this website by Heard Capital, you must maintain confidentiality of your log-in information and you remain responsible for all usage of the information on this website through your account, whether such use is made by you or anyone else. You must immediately notify us of any known or suspected unauthorized use of your log-in information or any known or suspected breach of security, including loss, theft or unauthorized disclosure of your log-in information.

Users of this website agree to treat all documents and information contained herein as confidential and agree not to reproduce or redistribute any such documents or information or disclose or permit their agents or affiliates to disclose any such documents or information without the prior written consent of an officer or manager of Heard Capital.

Use of this website does not create any client relationship between you and Heard Capital or make you eligible for any Heard Capital services. Nothing on this website should be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. Investments in investment products managed by Heard Capital are available only (i) to clients with whom Heard Capital has an existing relationship, and that are both "accredited investors" and "qualified purchasers," as such terms are defined under federal securities laws, and (ii) pursuant to private placement memoranda and other disclosure, offering and subscription documentation that contain descriptions of all material terms of such an investment, including certain risk factors, conflicts (or potential conflicts) of interests, tax considerations, fees and other matters. The information provided herein should not be considered a substitute for reviewing such documents in their entirety. Heard Capital does not offer any investment products to the general public.

All information, content, and opinions on this website are for general information only and do not constitute financial or investment advice. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. An investment in strategies mentioned in this website may not be suitable for all investors.

Certain content on this website has been obtained from sources that Heard Capital believes to be reliable as of the date presented; however, Heard Capital cannot guarantee the accuracy of such content, assure its completeness, or warrant that such information will not be changed. Heard Capital has no obligation to update any information; nor does it make any express or implied warranties or representations as to the completeness or accuracy of information.

All statements other than statements of historical fact on this website constitute “forward-looking statements” and include statements and assumptions relating to objectives of economic performance, projections about current and future economic trends and conditions, and projected financial results. These statements can generally be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “intend,” “continue,” or “believe” or comparable terminology. Heard Capital does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Heard Capital undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments, or otherwise. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Actual events or results of investments may differ materially from those reflected in such forward-looking statements. Users of this website are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements.

The information on this website includes certain prior indications of past investment performance. In considering such prior performance information, you should bear in mind that past performance is not necessarily indicative of future results. Any transactions described on this website as having been engaged in by Heard Capital are included as representative transactions for illustrative purposes only and may not be representative of all transactions engaged in by Heard Capital. No representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Any market analyses and statements of opinions provided on this website are inherently uncertain and are based on a number of assumptions. You should carefully review information regarding any such analyses and underlying assumptions.

This website is operated and controlled by Heard Capital in the United States. Despite the global nature of the internet, Heard Capital makes no claims that the information on this website is appropriate or may be viewed or used outside the United States. Access to this website from countries or territories where such access is illegal is prohibited. Heard Capital makes no representations that the transactions, products or services discussed on or accessible through this website are available or appropriate for sale or use in all jurisdictions or by all users. Those who access this website from outside the United States do so on their own initiative and are responsible for compliance with local laws, rules and regulations.

RISKS ASSOCIATED WITH INVESTING. An investment in a Heard Capital fund (a “Fund”) or any other investment product managed by Heard Capital is only suitable for sophisticated investors. Any such investment is speculative and involves a high degree of risk, including the risk of losing one's entire investment. There can be no guarantee that risk devices or parameters will be effective or achieve their goals.

The following list includes certain of the risks that should be considered before making an investment in a Fund or any other investment product managed by Heard Capital, however it is not a complete list of all considerations and risks involved that will arise in connection with such an investment.

Equity Securities Risk: Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate.

Non-U.S. Securities Risk: Investments in securities of non-U.S. issuers, particularly securities of emerging market issuers, involve certain risks not involved in domestic investments (for example, expropriation or political or economic instability).

Micro, Small and Mid-Cap Securities Risk: Investments in securities of companies with micro, small or medium capitalizations involve certain risks that may differ from, or be greater than, those for larger companies, such as higher volatility, lower trading volume, fewer business lines and lack of public information.

Market Risk: Funds' share prices will fluctuate with changes in the market value of their portfolio securities. Many factors can affect this value and investors may lose money by investing in Funds.

Portfolio Turnover Risk: High portfolio turnover will increase Funds' transaction costs and may result in increased realization of net short-term capital gains.

Non-Diversification Risk: A non-diversified Fund may invest a larger portion of its assets in the securities of one or a few issuers than a diversified fund. A non-diversified Fund's investment in fewer issuers may result in such Fund's shares being more sensitive to the economic results of those issuers. An investment in such Fund could fluctuate in value more than an investment in a diversified Fund.

Management Risk: Funds rely on Heard Capital's ability to achieve its investment objective. Heard Capital may be incorrect in its assessment of management risk. Heard Capital may be incorrect in its assessment of the intrinsic value of companies whose securities a Fund holds, which may result in a decline in the value of a Fund's shares.

For a more fulsome listing of the risks associated with the Funds, please see “Risks factors” in each Fund's private placement memorandum.

PRIVACY INFORMATION. Heard Capital considers your personal data to be private. All information collected in the course of your using this website (including your qualification as a user of the site) or otherwise, including any individual logging or click-stream data gathered in the course of navigating this website, is strictly for internal purposes and will be kept confidential, subject to applicable law. Such information will generally be used in administering the website and may persist in copies made for backup and business continuity purposes. Heard Capital will hold your information, while maintaining confidentiality subject to the terms above, for as long as it is legally required or permitted to do so.


Unauthorized use of this website, including but not limited to unauthorized entry into Heard Capital's systems, misuse of passwords, or misuse of any information posted to a site, is strictly prohibited.

Copyright © 2022. Heard Capital LLC.

By clicking below, you expressly acknowledge and confirm that you (i) are an "accredited investor" or "qualified purchaser," as such terms are defined under applicable federal securities law and (ii) understand that the information on the website is not a promotion and that you will not treat it as such.

1 As defined in Regulation D of the Securities Act of 1933. 17 CFR § 230.501

2 As defined in Section 2(a)(51) of the Investment Company Act of 1940. 15 U.S. Code § 80a-2