Past performance does not guarantee future results. Performance represents past performance; current returns may be lower or higher. Performance information for institutional class shares of Funds that existed prior to their initial public offering is based on the performance of investor class shares. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. All returns reflect reinvested dividends and capital gains distributions, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Subject to certain exceptions, shares of a Fund redeemed or exchanged within 10 days of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.
In the prospectus dated 5/1/2020, the Gross Fund Operating Expenses for the investor and institutional class of the Value Plus Fund are 1.19% and 0.98%, respectively. The Advisor has voluntarily agreed to waive fees and/or reimburse expenses with respect to the institutional class, to the extent necessary to maintain the institutional class’ “Net Annual Operating Expenses” at a ratio not to exceed 0.99% of average daily net assets. This voluntary waiver/reimbursement may be discontinued at any time. Without such waivers and/or reimbursements, total returns may have been lower.
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. To obtain a print prospectus, call 800-432-7856. Please read the prospectus carefully before investing.
Portfolio holdings are subject to change without notice. Current and future portfolio holdings are subject to risk. View full holdings as of the most recent quarter end.
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. There is no assurance that dividened paying stocks will mitigate volatility.
The portfolio may lose value in various market conditions and an investor could have a loss of principal.
As of 09/17/2020, the Value Plus Fund on behalf of its clients held apprximately 0.56%, 4.05%, and 4.37% of the total shares outstanding of Portland General Electric Co., PotlatchDeltic Corp., and Sonic Automotive Inc., respectively. Centerpoint Energy Inc., BlackRock Mid Cap Dividend, Equitable Holdings Inc., WisdomTree US MidCap Fund, J M Smucker Co., Lithia Motos Inc., Raymond James Financial Inc., Telephone and Data Systems Inc., and WestRock Co. were unowned.
Portfolio holdings are subject to change without notice. Current and future portfolio holdings are subject to risk.
Dividends are not guaranteed and a company’s future ability to pay dividends may be limited. A company currently paying dividends may cease paying dividends at any time.
The Heartland Funds are distributed by ALPS Distributors, Inc.
The above individual is a registered representative of ALPS Distributors, Inc.
CFA® is a registered trademark owned by the CFA Institute.