The Value Plus Fund invests in small companies that are generally less liquid and more volatile than large companies. The Fund also invests in a smaller number of stocks (generally 40 to 70) than the average mutual fund. The performance of these holdings generally will increase the volatility of the Fund’s returns.
Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market.
There is no assurance that dividend-paying stocks will mitigate volatility.
Certain security valuations and forward estimates are based on Heartland Advisors' calculations. Any forecasts may not prove to be true.
Portfolio holdings are subject to change without notice. Current and future portfolio holdings are subject to risk.
Portfolio holdings exclude cash, cash equivalents, options, and futures.
Information about Morningstar Ratings™ are ©2015 Morningstar, Inc. All rights reserved. The information contained herein is (1) proprietary to Morningstar and/or its content providers, (2) may not be copied or distributed, and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating™ based on a risk-adjusted return measure that accounts for variation in a fund’s monthly performance—including the effects of sales charges, loads, and redemption fees—placing greater emphasis on downward variations, and rewards consistent performance. The top 10% of funds in a category receive 5 stars, next 22.5% receive 4 stars, next 35% receive 3 stars, next 22.5% receive 2 stars, and bottom 10% receive 1 star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in distribution percentages. The Morningstar Ratings™ are for the specified share class. Classes have a common portfolio, different expense structures, and may have different performance characteristics. For periods prior to the inception date of the institutional class, ratings are calculated using the investor class.
The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year Morningstar Rating™ metrics.
As of 5/31/2015 Morningstar Ratings™: The Heartland Value Plus Fund investor class was rated against 204, 304, and 370 U.S.-domiciled Small Value funds over the 10-, 5-, and 3-year periods and received 4, 1, and 1 stars, respectively.
As of 5/31/2015 Morningstar Ratings™: The Heartland Value Plus Fund institutional class was rated against 204, 304, and 370 U.S.-domiciled Small Value funds over the 10-, 5-, and 3-year periods and received 4, 1, and 1 stars, respectively.
Heartland Advisors considers large-cap companies to be larger than $15 billion in market cap, mid-cap companies to be between $2 billion and $15 billion, small-cap companies to be between $300 million and $2 billion, and micro-cap companies to be less than $300 million. The above breakdown does not include short-term investments.
Industry and sector classifications are generally determined by referencing the Global Industry Classification Standard Codes (GICS) developed by Standard & Poor’s and Morgan Stanley Capital International.
The above individuals are registered representatives of ALPS Distributors, Inc.
CFA is a trademark owned by CFA Institute.
The Heartland Funds are distributed by ALPS Distributors, Inc.
Separately managed accounts and related investment advisory services are provided by Heartland Advisors, Inc., a federally registered investment advisor. ALPS Distributors, Inc., is not affiliated with Heartland Advisors, Inc.