Here’s Heartland Value Fund’s Comment on Photronics (PLAB)

Heartland Advisors, an investment management company, released its “Heartland Value Fund” second quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund returned 8.85%, compared to the 4.97% return for the Russell 2000 Value Index. The fund outperformed the benchmark over the past 1, 3, 5, and 10 years since inception. Over the past three months, stock selection accounted for almost all of the outperformance, specifically strong in Energy, Consumer Discretionary, Utilities, and Financials. In addition, you can check the fund’s top 5 holdings to determine...