Insights

  • Quarterly Commentary
  • Portfolio Perspective
  • Market Insight
  • Investment Approach

4Q17 Quarterly Commentary

Multi-Cap Value

Strong employment and economic data, and new tax legislation led the major indices to new highs during the period.

Fund Strategy

Mid-Cap Value

An improving energy market, progress on pro-growth tax legislation, and forecasts for a jump in business investment convinced many that the recent surge for equities had staying power.

Fund Strategy

Small-Cap Value

The investing-by-consensus approach that has dominated the past several years began to fray.

Fund Strategy

Small- and Micro-Cap Value

For the past several years, many investors have come to believe the old rules of investing no longer apply. As disciplined value investors, we see it differently.

Fund Strategy

International Value

Investors looked past geopolitical flare ups during the period, and instead focused on positive economic data. 

Fund

Portfolio Perspective

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Video
11/17 - 2:58
Heartland Advisors Portfolio Manager Bill Nasgovitz

Digging Deeper With Each New High

Opportunity exists for investors willing to roll up their sleeves. Portfolio Manager Bill Nasgovitz shares two examples from the small- and micro-cap portfolio.

Video
11/17 - 2:58
Heartland Advisors Value Investing Portfolio Manager Bradford A. Evans

Picking Through The Weeds

Our contrarian streak has led us to an overlooked gem in agriculture.

PM Perspective
9/17
Heartland Advisors Value Investing Portfolio Manager Robert Sharpe

Are Emerging Markets Just Getting Started?

Here’s what skeptics may be overlooking when it comes to the staying power of emerging markets.

Market Insight

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Water & Wells
2/6/18
Heartland Advisors Value Investing Portfolio Manager Colin McWey

Normal is Dead, Long Live Normal!

The return of volatility could provide opportunities for active investors going forward.

Video
2/18 - 1:59
Heartland Advisors Value Investing Portfolio Manager Robert C. Sharpe

Are Boardrooms Boosting the Case for Japan?

How independent voices could boost valuations and returns for investors in Japan.

Water & Wells
1/23/18
Heartland Advisors Value Investing Portfolio Manager Will Nasgovitz

Value—it’s the Real Thing

Why the value versus growth debate is about more than the investment flavor of the day.

Video
12/17 - 3:05
Heartland Advisors Value Investing Portfolio Manager Will Nasgovitz

Follow at Your Own Risk

How ETF investors may be leaving money on the table in unloved sectors.

Investment Approach

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PM Perspective
11/17
Heartland Advisors Value Investing Portfolio Manager Colin McWey

Digging Deeper to Avoid Yield Traps

Today’s income hungry world underscores the need to dig into free cash flow and payout ratios to avoid yield traps.

Video
5/17 - 3:55
Heartland Advisors value investing Investment Team members

Trends in Insider Activity

What insider activity is telling us about today's market.

PM Perspective
5/17
Heartland Advisors value investing portfolio manager Colin McWey

Cash Flow: An Equalizing Force in Analysis

Cash flow helps us evaluate opportunities on an apples to apples basis regardless of industry or debt.

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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. The International Value Fund invests in foreign securities which have additional risks, including but not limited to, exchange rate changes, political and economic upheaval, and relatively low market liquidity. These risks are magnified in emerging markets. 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.

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