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HEARTLAND ADVISORS INC

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

Q4 2025 · Filed 2026-02-11
Market Value
$1.9B
-2.1%
Holdings
266
+11
New Purchases
30
Added To
48
Closed
15
Reduced
119
Top 10 Concentration
14.2%
Turnover
16.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
0I3I.L 0.83% 0.00% +0.83% $15M
ITGR 1.03% 0.22% +0.81% $19M
XRN 0.77% 0.27% +0.50% $14M
HSIC 0.49% 0.00% +0.49% $9M
MOH 0.38% 0.00% +0.38% $7M
NEOG 0.38% 0.00% +0.38% $7M
VNOM 1.07% 0.71% +0.37% $20M
ECPG 1.13% 0.77% +0.36% $21M
RNST 0.36% 0.00% +0.36% $7M
CGAU 1.71% 1.36% +0.35% $32M
HUM 0.33% 0.00% +0.33% $6M
ICHR 0.30% 0.00% +0.30% $6M
KWR 0.92% 0.63% +0.29% $17M
SUI 0.28% 0.00% +0.28% $5M
WCC 0.28% 0.00% +0.28% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PRGO 0.17% 1.28% -1.11% $3M
SIRO 0.10% 0.88% -0.78% $2M
WTRG 0.09% 0.78% -0.68% $2M
CNC 0.11% 0.73% -0.62% $2M
LEU 0.00% 0.45% -0.45% $0
SIMO 1.36% 1.78% -0.42% $25M
PLYM 0.35% 0.77% -0.42% $7M
PPG 0.21% 0.58% -0.37% $4M
PBPB 0.00% 0.36% -0.36% $0
KMB 0.53% 0.86% -0.33% $10M
GBCI 0.88% 1.19% -0.31% $16M
NSA 0.73% 1.03% -0.30% $14M
ARAY 0.15% 0.44% -0.29% $3M
CTRA 0.00% 0.29% -0.29% $0
TFX 0.68% 0.97% -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 22 $43M 2.3%
Large Cap 89 $537M 29.0%
Mid Cap 90 $774M 41.8%
Small Cap 54 $447M 24.2%
Micro Cap 11 $50M 2.7%

Portfolio Analytics

Avg Market Cap
$122.5B
Median Market Cap
$7.0B
Avg P/E
30.4
Median P/E
22.6
Avg Dividend Yield
0.02%
Avg Beta
0.94
# Stocks
253
# ETFs / Funds
13

Top Holdings (266 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TCBI 1.71% 349,712 $32M $90.54 -$3M -61,191 -14.9%
2 CGAU 1.71% 2,201,450 $32M $14.37 $6M -198,200 -8.3%
3 LINC 1.68% 1,290,000 $31M $24.15 $838K
4 CCS 1.46% 455,264 $27M $59.35 -$2M -739 -0.2%
5 EGO 1.42% 733,375 $26M $35.92 $5M -14,500 -1.9%
6 TDY 1.38% 50,095 $26M $510.73 -$4M -1,119 -2.2%
7 SIMO 1.36% 272,398 $25M $92.70 -$8M -83,372 -23.4%
8 ASB 1.22% 878,714 $23M $25.76 $67K +886 +0.1%
9 CCBG 1.15% 500,000 $21M $42.57 $390K
10 PSA 1.14% 80,993 $21M $259.50 -$5M -7,613 -8.6%
11 ECPG 1.13% 385,830 $21M $54.35 $6M +34,980 +10.0%
12 VNOM 1.07% 514,226 $20M $38.63 $6M +164,226 +46.9%
13 SBCF 1.07% 632,052 $20M $31.42 -$300K -30,406 -4.6%
14 BDX 1.05% 100,257 $19M $194.07 $3M +11,089 +12.4%
15 CASS 1.04% 465,039 $19M $41.52 $958K -1,545 -0.3%
16 MHK 1.03% 174,361 $19M $109.30 -$4M -7,919 -4.3%
17 ITGR 1.03% 242,715 $19M $78.43 $15M +202,715 +506.8%
18 HSY 0.96% 97,178 $18M $181.98 -$2M -10,006 -9.3%
19 ALGT 0.95% 207,280 $18M $85.27 $5M -2,485 -1.2%
20 JBHT 0.95% 90,588 $18M $194.34 $3M -19,218 -17.5%
21 EXC 0.95% 401,724 $18M $43.59 -$2M -29,340 -6.8%
22 DCI 0.93% 194,794 $17M $88.66 $616K -8,675 -4.3%
23 KWR 0.92% 124,078 $17M $137.31 $5M +33,695 +37.3%
24 NOV 0.92% 1,089,190 $17M $15.63 $2M -35,890 -3.2%
25 MTG 0.91% 575,035 $17M $29.22 -$2M -89,572 -13.5%
26 THO 0.90% 162,817 $17M $102.67 -$887K -6,953 -4.1%
27 GBCI 0.88% 371,528 $16M $44.05 -$6M -92,586 -19.9%
28 BBSI 0.88% 450,000 $16M $36.21 -$4M
29 ASO 0.88% 325,247 $16M $49.96 $3M +51,630 +18.9%
30 EOG 0.87% 153,679 $16M $105.01 -$199K +7,972 +5.5%
31 PHIN 0.87% 257,000 $16M $62.69 $1M -18 -0.0%
32 GTES 0.86% 740,170 $16M $21.47 -$4M -70,482 -8.7%
33 0I3I.L 0.83% 187,263 $15M $81.96 +187,263 NEW
34 NWPX 0.83% 245,000 $15M $62.49 -$2M -76,500 -23.8%
35 WSO 0.82% 45,151 $15M $336.95 $323K +8,321 +22.6%
36 NTRS 0.79% 107,235 $15M $136.59 -$3M -26,493 -19.8%
37 PNC 0.78% 68,958 $14M $208.73 $802K +1,313 +1.9%
38 XRN 0.77% 423,460 $14M $33.74 $9M +270,786 +177.4%
39 MGY 0.77% 651,249 $14M $21.89 $500K +74,959 +13.0%
40 IIIV 0.74% 546,550 $14M $25.19 -$4M +1,350 +0.2%
41 EZPW 0.74% 705,906 $14M $19.42 $268K
42 NSA 0.73% 482,125 $14M $28.21 -$6M -164,075 -25.4%
43 CPT 0.73% 122,870 $14M $110.08 $136K -2,526 -2.0%
44 CUBI 0.72% 182,875 $13M $73.12 $1M -2,114 -1.1%
45 FE 0.70% 289,522 $13M $44.77 -$2M -35,334 -10.9%
46 TFX 0.68% 103,927 $13M $122.04 -$6M -46,073 -30.7%
47 FOR 0.67% 506,450 $12M $24.63 -$1M -9,600 -1.9%
48 PLAB 0.67% 385,150 $12M $32.00 $1M -104,925 -21.4%
49 HXL 0.66% 166,287 $12M $73.90 $2M -2,988 -1.8%
50 UGI 0.64% 319,000 $12M $37.43 $2M +19,000 +6.3%
51 TCBK 0.64% 250,000 $12M $47.37 $740K
52 SYY 0.62% 155,123 $11M $73.69 -$4M -30,399 -16.4%
53 DHI 0.60% 76,824 $11M $144.03 -$2M -892 -1.1%
54 TEL 0.59% 48,290 $11M $227.51 -$3M -14,160 -22.7%
55 LYFT 0.59% 563,750 $11M $19.37 -$2M -31,050 -5.2%
56 RDN 0.58% 300,000 $11M $35.99 -$69K
57 SF 0.58% 85,807 $11M $125.22 -$497K -13,267 -13.4%
58 CWCO 0.57% 299,750 $11M $35.29 -$281K -8,050 -2.6%
59 FNB 0.57% 617,025 $11M $17.10 $543K -4,209 -0.7%
60 FBK 0.57% 187,511 $10M $55.80 -$882K -16,019 -7.9%
61 CVGW 0.56% 476,975 $10M $21.75 $1M +123,350 +34.9%
62 CMCO 0.55% 595,100 $10M $17.25 $3M +123,025 +26.1%
63 ASTE 0.54% 229,275 $10M $43.32 -$1M -4,175 -1.8%
64 KMB 0.53% 97,860 $10M $100.89 -$6M -32,903 -25.2%
65 SNN 0.53% 300,567 $10M $32.81 -$5M -112,426 -27.2%
66 LAMR 0.53% 77,628 $10M $126.58 $297K -211 -0.3%
67 BRC 0.52% 122,695 $10M $78.37 -$833K -11,214 -8.4%
68 CTBI 0.52% 169,025 $10M $56.50 $93K
69 THR 0.51% 255,533 $9M $37.16 $3M -511 -0.2%
70 AOS 0.51% 141,543 $9M $66.88 -$2M -14,050 -9.0%
71 LTRX 0.51% 1,600,000 $9M $5.86 $2M
72 ORI 0.51% 205,300 $9M $45.64 $593K -1,359 -0.7%
73 NVST 0.50% 428,997 $9M $21.71 -$1M -80,837 -15.9%
74 GOOGL 0.50% 29,731 $9M $313.00 $2M -1,429 -4.6%
75 HSIC 0.49% 120,000 $9M $75.58 +120,000 NEW
76 ARMK 0.49% 244,177 $9M $36.86 -$907K -13,815 -5.3%
77 MTDR 0.48% 210,179 $9M $42.44 $1M +39,391 +23.1%
78 SEB 0.48% 2,000 $9M $4,444.82 $2M
79 STC 0.47% 125,000 $9M $70.26 -$382K
80 CSV 0.47% 207,300 $9M $42.30 -$464K
81 XEL 0.47% 118,146 $9M $73.86 -$1M -4,812 -3.9%
82 RE 0.46% 25,299 $9M $339.35 $1M +4,713 +22.9%
83 FCFS 0.45% 52,768 $8M $159.38 -$381K -2,727 -4.9%
84 ACGL 0.45% 87,678 $8M $95.92 $453K -23 -0.0%
85 DGX 0.45% 48,263 $8M $173.53 -$1M -1,744 -3.5%
86 RPRX 0.45% 213,989 $8M $38.64 $5M +117,436 +121.6%
87 ALEX 0.45% 400,000 $8M $20.64 $980K
88 STKL 0.44% 2,148,050 $8M $3.80 $845K +899,275 +72.0%
89 PKG 0.44% 39,145 $8M $206.23 $2M +12,621 +47.6%
90 MIDD 0.43% 53,702 $8M $148.67 -$1M -17,462 -24.5%
91 LDOS 0.43% 43,726 $8M $180.40 -$4M -21,448 -32.9%
92 THG 0.42% 42,869 $8M $182.77 $48K -7 -0.0%
93 PRMB 0.42% 477,100 $8M $16.35 $2M +233,803 +96.1%
94 PINE 0.42% 464,320 $8M $16.72 -$2M -228,080 -32.9%
95 EGP 0.41% 42,705 $8M $178.14 $1M +5,160 +13.7%
96 NUE 0.41% 46,629 $8M $163.11 $3M +11,352 +32.2%
97 HUBB 0.41% 16,993 $8M $444.11 -$1M -3,113 -15.5%
98 IGIC 0.41% 300,000 $8M $25.09 $567K
99 LFUS 0.40% 29,450 $7M $252.92 $502K +2,631 +9.8%
100 PRIM 0.40% 60,000 $7M $124.14 -$5M -30,000 -33.3%

New Positions

SymbolValue% Port
0I3I.L $15M 0.83%
HSIC $9M 0.49%
MOH $7M 0.38%
NEOG $7M 0.38%
RNST $7M 0.36%
HUM $6M 0.33%
ICHR $6M 0.30%
SUI $5M 0.28%
WCC $5M 0.28%
BMRC $5M 0.28%
MKTX $5M 0.28%
KMI $5M 0.27%
ARCB $4M 0.24%
TTI $3M 0.18%
AQN $3M 0.17%

Sold Out Positions

SymbolValue% Port
APAM —%
AR —%
OEC —%
FDS —%
LEU —%
VVV —%
UL —%
NJR —%
HRL —%
LNN —%
AVXL —%
ASTL —%
CTRA —%
PCH —%
PBPB —%
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