HEARTLAND ADVISORS INC

CIK 0000937394 · Q2 2026

13F Equity AUM

$2.2B

+14.6% QoQ

Positions

244

0 QoQ

AUM Rank

#2,203

Top 18%

Skill Alpha (FF)

+49.6%/yr^ns

No Clear Edge

Rank #27 · Top 0.3%

vs S&P +15.3%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 7.8%Top 10: 13.7%Top 20: 24.1%

SIMO1.8%

CCS1.6%

CG1.5%

ECPG1.5%

TCBI1.3%

TDY1.2%

TFX1.2%

ASO1.2%

KWR1.2%

ASB1.1%

Others (234)86.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services21.6%

Industrials17.1%

Technology13.1%

Consumer Cyclical10.9%

Healthcare10.6%

Energy7.5%

Real Estate5.3%

Utilities4.6%

Other9.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 244Median: 0.35%Avg: 0.41%

0–0.5%

172(40.1%)

0.5–1%

56(39.8%)

1–3%

16(20.1%)

3–5%

0(0.0%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 244vs 20 funds

0%Low

244

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New12Increased64Decreased113Exited12

New Positions

PSN0.3%

+150K

AGM0.3%

+38K

HLMN0.3%

+800K

IFF0.2%

+65K

GBX0.2%

+100K

WNC0.2%

+296K

AVO0.2%

+329K

ACNT0.1%

+201K

PXED0.1%

+73K

TGEN0.0%

+182K

Increased

CLB0.6%

+908K(+606%)

EVTC1.0%

+590K(+236%)

SHLS0.7%

+410K(+39%)

TTI0.5%

+386K(+63%)

IIIV0.9%

+358K(+59%)

DDI0.4%

+350K(+88%)

ASO1.2%

+235K(+71%)

XRAY0.6%

+214K(+22%)

INFU0.3%

+190K(+37%)

LYFT0.6%

+167K(+20%)

Decreased

GWRS0.1%

-423,359(-51%)

CTOS0.4%

-300,000(-30%)

LINC0.2%

-257,265(-72%)

CMCO0.4%

-149,300(-22%)

ICHR0.3%

-132,500(-66%)

SIMO1.8%

-128,189(-51%)

HAYW0.2%

-118,856(-34%)

ON0.2%

-88,630(-63%)

NOV0.9%

-85,745(-7%)

GO0.3%

-77,950(-11%)

Exited

-400,000

-200,000

-1,000,000

-1,000

-35,000

-92,075

-32,842

-150,219

-550,000

-1,977,450

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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