Heartland Value Plus Fund’s Q3 2025 Investor Letter

Heartland Advisors, an investment management company, released its “Heartland Value Plus Fund” third-quarter 2025 investor letter. The third quarter proved to be robust for small caps, signaling improved demand dynamics. The Russell 2000® Index was up 12.39% in the quarter, outperforming the S&P 500 Index, which rose 8.12%. The fund returned 8.51% in the third quarter compared to a 12.60% gain for the Russell 2000® Value Index. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

A copy of Heartland Value Plus Fund’s Q3 2025 investor letter can be downloaded here.