The Heartland Value Fund was recently featured in a Barron’s article, where co-managers Bill Nasgovitz and Will Nasgovitz highlight opportunities in small-cap value investing amid ongoing market volatility.
The piece underscores the Value Fund’s disciplined, principles-based approach, rooted in Heartland’s 10 Principles of Value Investing™. These combine quantitative valuation metrics with qualitative factors like insider buying, earnings trends, and catalysts for recognition.
Barron’s highlights the Fund’s strong performance, including a 30.8% one-year return. This outpaces both the Russell 2000 Value Index and its Morningstar peer group, while maintaining below-average risk over time.
The article also explores how the team is using recent market volatility to add to existing positions and initiate new investments in companies trading below intrinsic value, reinforcing the view that dislocations can create attractive long-term opportunities within small-cap value.
Read the full Barron’s feature below.
Past performance does not guarantee future results. Performance represents past performance; current returns may be lower or higher. 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. To obtain performance through the most recent month end, call 800-432-7856.
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Past performance does not guarantee future results.
The Value Fund primarily invests in small companies selected on a value basis. Such securities generally are more volatile and less liquid than those of larger companies.
Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market.
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 damage.
The statements and opinions expressed in this article are those of the presenter(s). Any discussion of investments and investment strategies represents the presenter’s 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.
An investor should consider the Funds’ investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information can be found in the Funds’ prospectus. To obtain a prospectus, please call 800-432-7856 or visit heartlandadvisors.com. Please read the prospectus carefully before investing.
The portfolio may lose value in various market conditions and an investor could have a loss of principal.
As of 3/18/2026, Associated Banc-Corp (ASB), Century Communities, Inc. (CCS), Choice Hotels International, Inc. (CHH), Columbia Sportswear Company (COLM), Primo Brands Corp (Class A) (PRMB), represented 0.53%, 0.95%, 0.10%, 0.31% 0.12% of the Value Fund’s net assets, respectively.
Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk.
Statements regarding securities are not recommendations to buy or sell.
There is no guarantee that a particular investment strategy will be successful.
The above individuals are registered representatives of ALPS Distributors, Inc.
The Heartland Funds are distributed by ALPS Distributors, Inc.
