Here’s Why Heartland Value Plus Fund is Holding Carter’s (CRI) Tight

Heartland Advisors, an investment management company, released its “Heartland Value Plus Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy was down approximately 5% underperforming the Russell 2000 Small-Cap Value Index’s -2.96% returns. The outperformance of the strategy over the past five years was attributed to the stock selection. However, this was not the case in the third quarter, the selection effect...