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INVESTING INSIGHTS
AT WILLIAM BLAIR

William V. Heaphy, CFA

Head of U.S. Value Equity Team, Portfolio Manager

William Heaphy, CFA, is the head of the U.S. value equity team. He is also a portfolio manager for William Blair’s small- to mid-cap value equity strategies and a research analyst focusing on the real estate sector. He joined the firm in his current role in 2021. Before joining William Blair, Bill worked at ICM, where he was chief investment officer of the small- to mid-cap value equity teams and a member of the management committee. Before joining ICM in 1994 as part of the equity research department, Bill was an associate in the Baltimore law firm of Ober, Kaler, Grimes and Shriver, and a staff auditor with Price Waterhouse. He holds the Chartered Financial Analyst designation. Bill received a B.S. from Lehigh University and a J.D. from the University of Maryland School of Law.

What’s Driving Small-Cap Returns?

William V. Heaphy, CFA
U.S. Equity

U.S. economic activity slowed in the third quarter of 2021 due to both a surge in new COVID-19 cases and persistent bottlenecks in the global supply chain, but we expect a rebound, with the direction...

Our Value Approach

William V. Heaphy, CFA
U.S. Equity

High-quality value—not deep value—defines our U.S. value equity team’s approach to value investing. The team seeks stocks that are industry leaders at a discount to their intrinsic value, and with potential limited downside. Watch the...

Cyclical Opportunities in Small-Cap Value

William V. Heaphy, CFA
U.S. Equity

In recent years, we’ve experienced an extended period of small-cap value underperformance, but the tide may be turning. Our value equity team thinks the most compelling opportunities may be in the more cyclical industrial sectors...

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