Heifetz uses a Russian bow-hold. This is almost never seen today in classical violinists and is more common in gypsy jazz. Some things are easier with a Russian bow-hold, you naturally apply more pressure near the tip, and some things are more difficult because you don't have any contribution from the fourth finger balancing the bow near the frog or when the bow leaves the string as in the staccato here.
Mischa Elman was another great from about the same time as Heifetz who also used the Russian bow-hold. Here you see him also tilting the bow the "wrong" way, showing the audience more of his bow hair.