Concerns Over AI Pressured Stifel Financial Corp. (SF) in Q1

Heartland Advisors, an investment management company, released its first-quarter 2026 investor letter for the “Heartland Value Plus Fund”. A copy of the letter can be downloaded here. Improving market breadth was noted in the first quarter, with the Russell 2000® Index rising by 0.89%, while the S&P 500 Index declined by 4.33%. However, the onset of military conflict in Iran has negatively impacted both the broad market and small-cap companies since late February. Historical trends suggest that reactions to such short-term geopolitical events should be tempered, emphasizing the...