Employment and corporate earnings remained robust, but building headwinds stoked debate about whether the economy was entering a new phase.
Fund Strategy
Higher interest rates, a stronger dollar, and talk of trade wars injected uncertainty into an economy that otherwise showed signs of continued strength.
The vitality of the business climate appears underappreciated.
Investors responded to a murky economic outlook by gravitating toward growth-oriented names, defensive areas, and larger businesses.
Fund Commentary Archive
Fund Performance
Strategy Commentary Archive
Why we see opportunities in the usually sleepy Utilities sector.
The Portfolio Management Team provides an overview.
Micro-caps can be an overlooked source of opportunities in a small-cap strategy. Portfolio Manager Bill Nasgovitz explores the advantages and our approach to the group.
More Portfolio Perspectives
How low interest rates have led to a surge of money losing companies, and what that may mean as interest rates move higher.
Why piling into companies with margins at historic peaks could set the stage for disappointment.
After a multi-year run, banks may be facing a rougher road ahead.
The shrinking number of sell-side analysts could be a boon for active small-cap investors.
More Market Insights
Cash flow helps us evaluate opportunities on an apples to apples basis regardless of industry or debt.
The difference between an unloved laggard and an attractive investment opportunity often begins with perception. Here is a look at internal catalysts and their importance in changing investors’ views and company results.
Why value managers should skip low-calorie growth and focus on fat margins.
More Investment Approaches
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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.
In addition to stocks of large companies, the Funds invest in small- and mid-sized companies that are generally less liquid and more volatile than large companies. The Select Value, Mid Cap Fund, and Value Plus Funds invest in a smaller number of stocks (generally 40 to 60, 30 to 60, and 40 to 70, respectively) than the average mutual fund. The performance of these holdings generally will increase the volatility of the Funds’ returns. There can be no assurance that the Mid Cap Value Fund will grow to or maintain an economically viable size, in which case the Board of Directors may determine to liquidate the Fund.
Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market.
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.
Sector and industry classifications as determined by Heartland Advisors may reference data from sources such as FactSet Research Systems Inc.
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.
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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.