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HEARTLAND ADVISORS INC

790 N WATER STREET SUITE 1200, MILWAUKEE, WI 53202 • 414-347-7777

Q2 2025 · Filed 2025-08-12
Market Value
$1.8B
+3.1%
Holdings
228
+14
New Purchases
28
Added To
73
Closed
16
Reduced
88
Top 10 Concentration
15.1%
Turnover
19.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SIRO 1.36% 0.81% +0.55% $24M
CVGW 0.53% 0.00% +0.53% $9M
HSY 1.10% 0.59% +0.51% $20M
LEU 0.92% 0.44% +0.48% $16M
LINC 1.67% 1.19% +0.48% $30M
HUBB 0.41% 0.00% +0.41% $7M
RE 0.39% 0.00% +0.39% $7M
CCS 1.32% 0.94% +0.38% $24M
LRCX 0.38% 0.00% +0.38% $7M
SIMO 1.69% 1.32% +0.38% $30M
FNB 0.44% 0.10% +0.33% $8M
KMX 0.92% 0.59% +0.33% $16M
PRGO 1.49% 1.16% +0.33% $27M
DHI 0.69% 0.38% +0.31% $12M
SNN 0.88% 0.59% +0.29% $16M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WRB 0.00% 0.76% -0.76% $0
SKX 0.00% 0.66% -0.66% $0
BDX 0.70% 1.30% -0.60% $12M
KNX 0.28% 0.88% -0.60% $5M
SEE 0.00% 0.58% -0.58% $0
FAF 0.49% 0.97% -0.49% $9M
DGX 0.52% 1.00% -0.48% $9M
PCH 0.62% 1.10% -0.48% $11M
LSEA 0.00% 0.41% -0.41% $0
HSTM 0.10% 0.44% -0.34% $2M
WTW 0.33% 0.66% -0.33% $6M
CTRA 0.33% 0.65% -0.33% $6M
CTLP 0.00% 0.32% -0.32% $0
INGR 0.45% 0.76% -0.31% $8M
KMB 0.74% 1.04% -0.29% $13M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 20.7%
Industrials 16.8%
Technology 11.4%
Consumer Cyclical 11.3%
Healthcare 9.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 13 $30M 1.7%
Large Cap 66 $522M 29.3%
Mid Cap 89 $769M 43.1%
Small Cap 49 $412M 23.1%
Micro Cap 11 $51M 2.9%

Portfolio Analytics

Avg Market Cap
$60.5B
Median Market Cap
$6.0B
Avg P/E
32.3
Median P/E
21.1
Avg Dividend Yield
0.02%
Avg Beta
0.95
# Stocks
220
# ETFs / Funds
8

Top Holdings (228 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TCBI 1.80% 405,169 $32M $79.40 -$4M -73,869 -15.4%
2 SIMO 1.69% 401,732 $30M $75.17 $7M -49,023 -10.9%
3 LINC 1.67% 1,295,807 $30M $23.05 $9M -4,193 -0.3%
4 TDY 1.64% 57,203 $29M $512.31 $1M +698 +1.2%
5 PSA 1.51% 91,517 $27M $293.42 $490K +3,433 +3.9%
6 PRGO 1.49% 992,891 $27M $26.72 $6M +276,241 +38.5%
7 SIRO 1.36% 1,526,333 $24M $15.88 $10M +592,483 +63.5%
8 CCS 1.32% 419,482 $24M $56.32 $7M +177,221 +73.2%
9 MHK 1.30% 220,845 $23M $104.84 -$3M -10,192 -4.4%
10 CNC 1.29% 424,900 $23M $54.28 -$691K +33,615 +8.6%
11 NOV 1.26% 1,807,707 $22M $12.43 -$3M +107,356 +6.3%
12 SBCF 1.16% 746,813 $21M $27.62 -$2M -123,250 -14.2%
13 CCBG 1.14% 518,750 $20M $39.35 -$798K -71,100 -12.1%
14 CASS 1.14% 467,843 $20M $43.45 -$170K -6,083 -1.3%
15 GBCI 1.13% 469,213 $20M $43.08 -$732K -4,456 -0.9%
16 ASB 1.12% 818,644 $20M $24.39 $3M +49,098 +6.4%
17 HSY 1.10% 117,809 $20M $165.95 $9M +58,524 +98.7%
18 NTRS 1.05% 148,384 $19M $126.79 $5M +10,480 +7.6%
19 BBSI 1.05% 450,000 $19M $41.69 $243K
20 GTES 1.05% 809,722 $19M $23.03 $4M +24,631 +3.1%
21 EOG 1.04% 154,591 $18M $119.61 $4M +39,652 +34.5%
22 MTG 1.04% 663,467 $18M $27.84 $778K -50,527 -7.1%
23 JBHT 1.02% 126,285 $18M $143.60 $386K +6,321 +5.3%
24 GTLS 1.00% 108,545 $18M $164.65 $981K -8,460 -7.2%
25 DCI 1.00% 256,715 $18M $69.35 $4M +53,790 +26.5%
26 IIIV 1.00% 646,592 $18M $27.48 -$961K -112,608 -14.8%
27 THO 0.98% 197,153 $18M $88.81 $4M +15,476 +8.5%
28 LEU 0.92% 90,000 $16M $183.18 $9M -32,610 -26.6%
29 KMX 0.92% 244,578 $16M $67.21 $6M +113,684 +86.8%
30 CGAU 0.90% 2,235,325 $16M $7.21 $2M +16,775 +0.8%
31 SNN 0.88% 513,191 $16M $30.63 $6M +153,337 +42.6%
32 EGO 0.86% 752,225 $15M $20.34 $4M +104,125 +16.1%
33 BLL 0.84% 268,495 $15M $56.09 $860K -4,220 -1.6%
34 CPT 0.81% 127,877 $14M $112.69 -$727K +4,105 +3.3%
35 TEL 0.81% 85,394 $14M $168.67 $4M +9,729 +12.9%
36 NSA 0.79% 438,900 $14M $31.99 -$3M -1,500 -0.3%
37 SYY 0.79% 185,163 $14M $75.74 -$3M -43,356 -19.0%
38 LDOS 0.75% 85,288 $13M $157.76 $317K -12,072 -12.4%
39 NWPX 0.75% 326,900 $13M $41.01 -$87K +200 +0.1%
40 ESS 0.75% 47,123 $13M $283.40 $1M +8,352 +21.5%
41 KMB 0.74% 102,743 $13M $128.92 -$5M -23,343 -18.5%
42 EXC 0.73% 301,326 $13M $43.42 $4M +109,898 +57.4%
43 PPG 0.72% 113,342 $13M $113.75 -$405K -8,268 -6.8%
44 UGI 0.71% 350,000 $13M $36.42 $1M
45 LKQ 0.71% 341,472 $13M $37.01 $5M +165,301 +93.8%
46 RDN 0.71% 350,000 $13M $36.02 $1M
47 BDX 0.70% 72,363 $12M $172.25 -$10M -25,801 -26.3%
48 DHI 0.69% 95,016 $12M $128.92 $6M +43,543 +84.6%
49 MIDD 0.67% 83,249 $12M $144.00 $3M +21,198 +34.2%
50 HAE 0.65% 156,538 $12M $74.61 $2M +640 +0.4%
51 CSV 0.65% 254,550 $12M $45.74 $1M -18,941 -6.9%
52 ECPG 0.65% 298,150 $12M $38.71 $1M +3,000 +1.0%
53 RHI 0.64% 277,431 $11M $41.05 -$2M +26,232 +10.4%
54 AOS 0.63% 170,639 $11M $65.57 $329K +4,488 +2.7%
55 PCH 0.62% 288,875 $11M $38.37 -$8M -133,650 -31.6%
56 SF 0.62% 106,735 $11M $103.78 $991K -263 -0.2%
57 FBK 0.61% 240,950 $11M $45.30 -$2M -42,905 -15.1%
58 CUBI 0.61% 185,739 $11M $58.74 $2M -100 -0.1%
59 ON 0.60% 204,307 $11M $52.41 $2M -20,175 -9.0%
60 WSO 0.60% 24,234 $11M $441.62 $759K +4,673 +23.9%
61 PLYM 0.59% 657,100 $11M $16.06 $2M +107,200 +19.5%
62 FOR 0.58% 516,050 $10M $20.00 -$78K +24,150 +4.9%
63 FE 0.57% 251,892 $10M $40.26 -$793K -18,633 -6.9%
64 TCBK 0.57% 250,000 $10M $40.49 $130K
65 MTN 0.56% 63,548 $10M $157.13 -$1M -6,525 -9.3%
66 NVST 0.56% 508,388 $10M $19.54 $3M +80,393 +18.8%
67 NGD 0.55% 2,000,000 $10M $4.95 -$3M -1,555,600 -43.8%
68 EZPW 0.55% 705,906 $10M $13.88 -$1M -44,094 -5.9%
69 ASTE 0.55% 233,700 $10M $41.69 $2M -1,100 -0.5%
70 HXL 0.54% 171,670 $10M $56.49 $228K -1,252 -0.7%
71 CMCO 0.53% 622,075 $9M $15.27 -$276K +44,700 +7.7%
72 BRC 0.53% 138,635 $9M $67.97 -$192K +2,527 +1.9%
73 LAMR 0.53% 77,629 $9M $121.36 $898K +2,719 +3.6%
74 CVGW 0.53% 353,625 $9M $26.59 +353,625 NEW
75 PBPB 0.53% 765,700 $9M $12.25 $2M -1,000 -0.1%
76 DGX 0.52% 51,595 $9M $179.63 -$8M -50,877 -49.6%
77 CWCO 0.52% 308,050 $9M $30.02 $3M +37,950 +14.1%
78 KWR 0.52% 82,609 $9M $111.94 $2M +23,795 +40.5%
79 PLAB 0.52% 489,150 $9M $18.83 $2M +148,550 +43.6%
80 CTBI 0.50% 169,025 $9M $52.92 $433K
81 LECO 0.49% 42,259 $9M $207.32 $1M +2,173 +5.4%
82 AUDC 0.49% 890,550 $9M $9.82 $453K +10,300 +1.2%
83 CTS 0.49% 203,441 $9M $42.61 -$668K -21,268 -9.5%
84 PNC 0.49% 46,458 $9M $186.42 $4M +22,012 +90.0%
85 FAF 0.49% 141,058 $9M $61.39 -$8M -115,350 -45.0%
86 FCFS 0.46% 60,870 $8M $135.14 $147K -6,277 -9.3%
87 THG 0.46% 48,149 $8M $169.87 -$3M -13,407 -21.8%
88 PINE 0.46% 553,630 $8M $14.71 -$1M +600 +0.1%
89 STC 0.46% 125,000 $8M $65.10 -$781K
90 INGR 0.45% 59,495 $8M $135.62 -$5M -37,979 -39.0%
91 ORI 0.45% 207,146 $8M $38.44 -$5M -114,464 -35.6%
92 FNB 0.44% 535,430 $8M $14.58 $6M +401,558 +300.0%
93 PRIM 0.44% 100,000 $8M $77.94 $2M
94 SXT 0.43% 78,767 $8M $98.52 $2M -1,612 -2.0%
95 GVA 0.43% 82,902 $8M $93.51 $1M -2,711 -3.2%
96 MTDR 0.41% 153,460 $7M $47.72 $485K +19,622 +14.7%
97 HUBB 0.41% 17,759 $7M $408.41 +17,759 NEW
98 INBK 0.41% 269,600 $7M $26.90 $814K +29,200 +12.2%
99 HCSG 0.41% 482,325 $7M $15.03 $1M -88,925 -15.6%
100 MTRN 0.40% 90,843 $7M $79.37 -$221K -228 -0.2%

New Positions

SymbolValue% Port
CVGW $9M 0.53%
HUBB $7M 0.41%
RE $7M 0.39%
LRCX $7M 0.38%
PZZA $5M 0.27%
ARMK $5M 0.25%
PHIN $4M 0.25%
DDI $4M 0.21%
PBH $4M 0.20%
HRL $3M 0.15%
BLDR $2M 0.11%
AMAT $1M 0.06%
UAMY $907K 0.05%
WT $802K 0.04%
JBSS $632K 0.04%

Sold Out Positions

SymbolValue% Port
PBF —%
W —%
DK —%
KMT —%
BW —%
WRB —%
SAM —%
HNRG —%
MCHP —%
MU —%
DLS —%
TWIN —%
CTLP —%
LSEA —%
SKX —%
View SEC EDGAR Filings for HEARTLAND ADVISORS INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms