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HEARTLAND ADVISORS INC

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

Q3 2025 · Filed 2025-11-07
Market Value
$1.9B
+6.0%
Holdings
255
+27
New Purchases
43
Added To
62
Closed
19
Reduced
99
Top 10 Concentration
14.8%
Turnover
24.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WTRG 0.78% 0.00% +0.78% $15M
VNOM 0.71% 0.00% +0.71% $13M
ALGT 0.67% 0.00% +0.67% $13M
TFX 0.97% 0.33% +0.64% $18M
PHIN 0.78% 0.25% +0.53% $15M
XEL 0.52% 0.00% +0.52% $10M
CGAU 1.36% 0.90% +0.46% $26M
ACGL 0.42% 0.00% +0.42% $8M
LYFT 0.69% 0.31% +0.38% $13M
MGY 0.73% 0.38% +0.35% $14M
ADT 0.33% 0.00% +0.33% $6M
ASO 0.72% 0.40% +0.32% $14M
GNRC 0.32% 0.00% +0.32% $6M
KDP 0.31% 0.00% +0.31% $6M
EXC 1.03% 0.73% +0.29% $19M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GTLS 0.00% 1.00% -1.00% $0
KMX 0.11% 0.92% -0.81% $2M
LKQ 0.00% 0.71% -0.71% $0
CNC 0.73% 1.29% -0.56% $14M
PCH 0.08% 0.62% -0.54% $2M
SIRO 0.88% 1.36% -0.48% $17M
LEU 0.45% 0.92% -0.47% $9M
NOV 0.79% 1.26% -0.47% $15M
RHI 0.23% 0.64% -0.41% $4M
HAE 0.25% 0.65% -0.41% $5M
HCSG 0.00% 0.41% -0.41% $0
SAIC 0.00% 0.38% -0.38% $0
NFG 0.00% 0.38% -0.38% $0
FAF 0.12% 0.49% -0.36% $2M
ON 0.28% 0.60% -0.32% $5M

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 23 $42M 2.2%
Large Cap 82 $591M 31.2%
Mid Cap 88 $748M 39.5%
Small Cap 52 $456M 24.1%
Micro Cap 10 $55M 2.9%

Portfolio Analytics

Avg Market Cap
$128.6B
Median Market Cap
$6.8B
Avg P/E
30.6
Median P/E
21.8
Avg Dividend Yield
0.02%
Avg Beta
0.94
# Stocks
242
# ETFs / Funds
13

Top Holdings (255 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TCBI 1.84% 410,903 $35M $84.53 $3M +5,734 +1.4%
2 SIMO 1.78% 355,770 $34M $94.81 $4M -45,962 -11.4%
3 LINC 1.60% 1,290,000 $30M $23.50 $447K -5,807 -0.5%
4 TDY 1.59% 51,214 $30M $586.04 $708K -5,989 -10.5%
5 CCS 1.53% 456,003 $29M $63.37 $5M +36,521 +8.7%
6 CGAU 1.36% 2,399,650 $26M $10.73 $10M +164,325 +7.3%
7 PSA 1.35% 88,606 $26M $288.85 -$1M -2,911 -3.2%
8 PRGO 1.28% 1,084,778 $24M $22.27 -$2M +91,887 +9.2%
9 MHK 1.24% 182,280 $23M $128.92 $346K -38,565 -17.5%
10 GBCI 1.19% 464,114 $23M $48.67 $2M -5,099 -1.1%
11 ASB 1.19% 877,828 $23M $25.71 $3M +59,184 +7.2%
12 EGO 1.14% 747,875 $22M $28.89 $6M -4,350 -0.6%
13 CCBG 1.10% 500,000 $21M $41.79 $482K -18,750 -3.6%
14 SBCF 1.07% 662,458 $20M $30.43 -$468K -84,355 -11.3%
15 GTES 1.06% 810,652 $20M $24.82 $1M +930 +0.1%
16 HSY 1.06% 107,184 $20M $187.05 $498K -10,625 -9.0%
17 BBSI 1.05% 450,000 $20M $44.32 $1M
18 NSA 1.03% 646,200 $20M $30.22 $5M +207,300 +47.2%
19 EXC 1.03% 431,064 $19M $45.01 $6M +129,738 +43.1%
20 MTG 1.00% 664,607 $19M $28.37 $384K +1,140 +0.2%
21 TFX 0.97% 150,000 $18M $122.36 $12M +100,000 +200.0%
22 CASS 0.97% 466,584 $18M $39.33 -$2M -1,259 -0.3%
23 NTRS 0.95% 133,728 $18M $134.60 -$814K -14,656 -9.9%
24 IIIV 0.94% 545,200 $18M $32.46 -$71K -101,392 -15.7%
25 THO 0.93% 169,770 $18M $103.69 $94K -27,383 -13.9%
26 NWPX 0.90% 321,500 $17M $52.93 $4M -5,400 -1.6%
27 BDX 0.88% 89,168 $17M $187.17 $4M +16,805 +23.2%
28 DCI 0.88% 203,469 $17M $81.85 -$1M -53,246 -20.7%
29 SIRO 0.88% 1,312,207 $17M $12.69 -$8M -214,126 -14.0%
30 EOG 0.86% 145,707 $16M $112.12 -$2M -8,884 -5.8%
31 KMB 0.86% 130,763 $16M $124.34 $3M +28,020 +27.3%
32 SYY 0.81% 185,522 $15M $82.34 $1M +359 +0.2%
33 SNN 0.79% 412,993 $15M $36.29 -$732K -100,198 -19.5%
34 NOV 0.79% 1,125,080 $15M $13.25 -$8M -682,627 -37.8%
35 WSO 0.79% 36,830 $15M $404.30 $4M +12,596 +52.0%
36 FE 0.79% 324,856 $15M $45.82 $5M +72,964 +29.0%
37 PHIN 0.78% 257,018 $15M $57.48 $10M +157,018 +157.0%
38 JBHT 0.78% 109,806 $15M $134.17 -$3M -16,479 -13.1%
39 WTRG 0.78% 367,662 $15M $39.90 +367,662 NEW
40 ECPG 0.77% 350,850 $15M $41.74 $3M +52,700 +17.7%
41 PLYM 0.77% 655,475 $15M $22.33 $4M -1,625 -0.2%
42 CNC 0.73% 389,109 $14M $35.68 -$9M -35,791 -8.4%
43 MGY 0.73% 576,290 $14M $23.87 $7M +276,290 +92.1%
44 FOR 0.73% 516,050 $14M $26.59 $3M
45 TEL 0.72% 62,450 $14M $219.53 -$694K -22,944 -26.9%
46 ASO 0.72% 273,617 $14M $50.02 $7M +114,427 +71.9%
47 PNC 0.72% 67,645 $14M $200.93 $5M +21,187 +45.6%
48 EZPW 0.71% 705,906 $13M $19.04 $4M
49 CPT 0.71% 125,396 $13M $106.78 -$1M -2,481 -1.9%
50 VNOM 0.71% 350,000 $13M $38.22 +350,000 NEW
51 DHI 0.70% 77,716 $13M $169.47 $921K -17,300 -18.2%
52 LYFT 0.69% 594,800 $13M $22.01 $8M +241,250 +68.2%
53 ALGT 0.67% 209,765 $13M $60.77 +209,765 NEW
54 PRIM 0.65% 90,000 $12M $137.33 $5M -10,000 -10.0%
55 LDOS 0.65% 65,174 $12M $188.96 -$1M -20,114 -23.6%
56 CUBI 0.64% 184,989 $12M $65.37 $1M -750 -0.4%
57 KWR 0.63% 90,383 $12M $131.75 $3M +7,774 +9.4%
58 AOS 0.60% 155,593 $11M $73.41 $233K -15,046 -8.8%
59 FBK 0.60% 203,530 $11M $55.74 $430K -37,420 -15.5%
60 PLAB 0.59% 490,075 $11M $22.95 $2M +925 +0.2%
61 SF 0.59% 99,074 $11M $113.47 $165K -7,661 -7.2%
62 ASTE 0.59% 233,450 $11M $48.13 $1M -250 -0.1%
63 TCBK 0.59% 250,000 $11M $44.41 $980K
64 BLL 0.58% 217,478 $11M $50.42 -$4M -51,017 -19.0%
65 PPG 0.58% 103,832 $11M $105.11 -$2M -9,510 -8.4%
66 RDN 0.57% 300,000 $11M $36.22 -$2M -50,000 -14.3%
67 CWCO 0.57% 307,800 $11M $35.28 $2M -250 -0.1%
68 HXL 0.56% 169,275 $11M $62.70 $916K -2,395 -1.4%
69 BRC 0.55% 133,909 $10M $78.03 $1M -4,726 -3.4%
70 NVST 0.55% 509,834 $10M $20.37 $451K +1,446 +0.3%
71 FNB 0.53% 621,234 $10M $16.11 $2M +85,804 +16.0%
72 UGI 0.53% 300,000 $10M $33.26 -$3M -50,000 -14.3%
73 ESS 0.53% 37,221 $10M $267.66 -$3M -9,902 -21.0%
74 XEL 0.52% 122,958 $10M $80.65 +122,958 NEW
75 ARMK 0.52% 257,992 $10M $38.40 $5M +149,841 +138.6%
76 PINE 0.52% 692,400 $10M $14.17 $2M +138,770 +25.1%
77 AUDC 0.52% 1,028,850 $10M $9.52 $1M +138,300 +15.5%
78 MTRN 0.51% 80,440 $10M $120.81 $3M -10,403 -11.4%
79 DGX 0.50% 50,007 $10M $190.58 $262K -1,588 -3.1%
80 LAMR 0.50% 77,839 $10M $122.42 $108K +210 +0.3%
81 MIDD 0.50% 71,164 $9M $132.93 -$3M -12,085 -14.5%
82 CTBI 0.50% 169,025 $9M $55.95 $512K
83 CSV 0.49% 207,300 $9M $44.54 -$2M -47,250 -18.6%
84 STC 0.48% 125,000 $9M $73.32 $1M
85 CVGW 0.48% 353,625 $9M $25.74 -$301K
86 FCFS 0.46% 55,495 $9M $158.42 $566K -5,375 -8.8%
87 ORI 0.46% 206,659 $9M $42.47 $814K -487 -0.2%
88 HUBB 0.46% 20,106 $9M $430.31 $1M +2,347 +13.2%
89 LEU 0.45% 27,500 $9M $310.07 -$8M -62,500 -69.4%
90 ARAY 0.44% 4,996,500 $8M $1.67 $1M -62,100 -1.2%
91 WTW 0.44% 23,959 $8M $345.45 $2M +4,859 +25.4%
92 LRCX 0.42% 59,909 $8M $133.90 $1M -9,894 -14.2%
93 ACGL 0.42% 87,701 $8M $90.73 +87,701 NEW
94 THG 0.41% 42,876 $8M $181.63 -$392K -5,273 -10.9%
95 MTDR 0.41% 170,788 $8M $44.93 $350K +17,328 +11.3%
96 GOOGL 0.40% 31,160 $8M $243.10 $2M -318 -1.0%
97 WEC 0.40% 65,844 $8M $114.59 $1M +3,349 +5.4%
98 SXT 0.39% 78,592 $7M $93.85 -$384K -175 -0.2%
99 TIPT 0.39% 384,155 $7M $19.17 $290K +84,155 +28.1%
100 STKL 0.39% 1,248,775 $7M $5.86 $258K +31,550 +2.6%

New Positions

SymbolValue% Port
WTRG $15M 0.78%
VNOM $13M 0.71%
ALGT $13M 0.67%
XEL $10M 0.52%
ACGL $8M 0.42%
ADT $6M 0.33%
GNRC $6M 0.32%
KDP $6M 0.31%
BXC $5M 0.29%
PRMB $5M 0.28%
XRN $5M 0.27%
OXM $5M 0.27%
NUE $5M 0.25%
RH $5M 0.24%
GO $4M 0.24%

Sold Out Positions

SymbolValue% Port
XLY —%
NFG —%
KNX —%
VLO —%
GTLS —%
VFC —%
LKQ —%
CPB —%
HCSG —%
UAMY —%
XLF —%
SAIC —%
XLB —%
SIGI —%
XLE —%
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