Heartland Value Plus Fund’s Q4 2025 Investor Letter

Heartland Advisors, an investment management company, released its “Heartland Value Plus Fund” fourth-quarter 2025 investor letter. In the fourth quarter, the market’s gains continued to widen, as small value stocks outpaced the Magnificent 7, and the artificial intelligence (AI) trade pulled back in November amid concerns about overinvestment and a reassessment of who will benefit from this disruptive technology. The firm is finding opportunities in firms that were overlooked but appear to be on track for high earnings growth in 2026. The value plus strategy fell 0.10% in the quarter compared to the Russell 2000® Value Index’s 3.26% gain. Stock selection in Information Technology and Real Estate was favorable to its performance, but the stock effect was negative in Health Care, Industrials, and Energy sectors. 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 Q4 2025 investor letter can be downloaded here.