Investment Team

  • Organizational Structure
  • Investment Professionals
  • Trading Professionals
  • Investing Perspectives

Heartland Advisors Value Investing Team IconThe Investment Team includes portfolio managers, research analysts, and traders. The Team applies Heartland’s value investing philosophy and disciplined investment process, the 10 Principles of Value Investing™, to manage the four domestic Heartland Funds and four separately managed account strategies.

The team collectively has almost 208 years of industry experience, with 150 of those years obtained at Heartland, as of June 30, 2020.

Portfolio managers and research analysts work side-by-side to apply a bottom-up approach that combines traditional fundamental analysis and meetings with management, competitors, and end clients of the businesses we consider for investment. Collaboration allows the Investment Team to cross-cover sectors and companies, generate a significant amount of internal research, and challenge investment ideas from multiple perspectives.

We believe the Investment Team’s interests are aligned with our clients because the Team, along with other Heartland team members, collectively owned about $27 million in the Heartland Funds as of June 30, 2020.

Organizational Structure

Heartland Advisors Value Investing Portfolio Management Team Org Chart

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Investment Professionals

Bradford A. Evans

Evans, CFA, is Senior Vice President and Portfolio Manager of the Value Plus Fund and its corresponding separately managed account strategy. He has 24 years of industry experience, 21 at Heartland.

Andrew J. Fleming

Fleming, CFA, is Vice President and Portfolio Manager of the Value Plus Fund and its corresponding separately managed account strategy. He has 11 years of industry experience, 8 at Heartland.

Troy McGlone

McGlone, CFA, is Vice President and Portfolio Manager of the Select Value Fund and its corresponding separately managed account strategy. He has 12 years of industry experience, 6 at Heartland.

Colin McWey

McWey, CFA, is Vice President and Portfolio Manager of the Select Value and Mid Cap Value Funds and their corresponding separately managed account strategies. He has 18 years of industry experience, 11 at Heartland.

Bill Nasgovitz

Nasgovitz is Chairman and Portfolio Manager of the Value Fund and its corresponding separately managed account strategy. He has 51 years of industry experience, 37 at Heartland.

Will Nasgovitz

Nasgovitz is CEO and Portfolio Manager of the Select Value, Mid Cap Value, and Value Funds and their corresponding separately managed account strategies. He also is President and Director of Heartland Funds. He has 20 years of industry experience, 16 at Heartland.

Michael Warecki

Warecki is a Research Analyst. He has 3 years of industry experience and started at Heartland in 2019.

Jacob Westphal

Westphal is a Research Analyst. He has 4 year of industry experience and started at Heartland in 2020.

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Trading Professionals

Kevin D. Clark

Clark is Senior Vice President of Equity Trading. He has 36 years of industry experience, 27 at Heartland.

Matthew Miner

Miner, CFA, is Vice President, Chief Risk Officer, and Director of Trading. He has 28 years of industry experience, 23 at Heartland.

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Investing Perspectives

Heartland in the News
6/15/20

Heartland’s Andy J. Fleming Recognized as an Industry Standout

Value Plus Fund Portfolio Manager Andy J. Fleming, CFA, was honored as a Rising Star by Fund Intelligence, a national organization focused on identifying investment professionals making a positive impact in the asset management industry.

Water & Wells
6/9/20

The Vanna White Recovery

Why investors may want to look beyond the alphabet soup of recovery trajectories while looking for opportunities.

Heartland in the News
3/26/20

Going with the Flow

Portfolio Manager Colin McWey, CFA, on how cash flow statements serve as a reality check for investors.

Press Release
3/16/20

Heartland Mid Cap Value Fund Acquires the ALPS/WMC Research Value Fund

Acquisition boosts Mid Cap Value Fund’s presence

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©2020 Heartland Advisors | 790 N. Water Street, Suite 1200, Milwaukee, WI 53202 | Business Office: 414-347-7777 | Financial Professionals: 888-505-5180 | Individual Investors: 800-432-7856

Portfolio holdings are subject to change without notice. Current and future portfolio holdings are subject to risk.

Past performance does not guarantee future results.

An investor should consider the Funds’ investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information may be found in the prospectus (pdf). To obtain a print prospectus, call 800-432-7856. Please read the prospectus carefully before investing.

Organizational chart reflects intended team structure, and all positions may not currently be filled.

Sector and Industry classifications are sourced from GICS®.The Global Industry Classification Standard (GICS®) is the exclusive intellectual property of MSCI Inc. (MSCI) and S&P Global Market Intelligence (“S&P”).  Neither MSCI, S&P, their affiliates, nor any of their third party providers (“GICS Parties”) makes any representations or warranties, express or implied, with respect to GICS or the results to be obtained by the use thereof, and expressly disclaim all warranties, including warranties of accuracy, completeness, merchantability and fitness for a particular purpose.  The GICS Parties shall not have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of such damages.

The statements and opinions expressed in the articles or appearances are those of the presenter. Any discussion of investments and investment strategies represents the presenters' views as of the date created and are subject to change without notice. The opinions expressed are for general information only and are not intended to provide specific advice or recommendations for any individual. Any forecasts may not prove to be true.

Economic predictions are based on estimates and are subject to change.

There is no guarantee that a particular investment strategy will be successful.

Heartland’s investing glossary provides definitions for several terms used on this page.

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.

The above individuals are registered representatives of ALPS Distributors, Inc.

CFA® is a registered trademark owned by the CFA Institute.

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