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HEARTLAND ADVISORS INC

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

Q1 2026 · Filed 2026-05-06
Market Value
$1.9B
+4.4%
Holdings
270
+4
New Purchases
19
Added To
98
Closed
31
Reduced
90
Top 10 Concentration
14.2%
Turnover
18.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TFX 1.34% 0.68% +0.65% $26M
MUSA 0.61% 0.00% +0.61% $12M
GTY 0.58% 0.00% +0.58% $11M
SIRO 0.57% 0.10% +0.47% $11M
KEYS 0.59% 0.13% +0.46% $11M
SAH 0.44% 0.00% +0.44% $8M
COLM 0.67% 0.23% +0.43% $13M
PRMB 0.85% 0.42% +0.43% $16M
NIC 0.43% 0.00% +0.43% $8M
UTL 0.41% 0.00% +0.41% $8M
SHLS 0.36% 0.00% +0.36% $7M
SLB 0.34% 0.00% +0.34% $7M
CHH 0.33% 0.00% +0.33% $6M
CGAU 2.04% 1.71% +0.33% $39M
ARCB 0.56% 0.24% +0.32% $11M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LINC 0.75% 1.68% -0.93% $15M
UGI 0.00% 0.64% -0.64% $0
RDN 0.00% 0.58% -0.58% $0
KMB 0.00% 0.53% -0.53% $0
SNN 0.00% 0.53% -0.53% $0
THR 0.00% 0.51% -0.51% $0
ALEX 0.00% 0.45% -0.45% $0
TEL 0.20% 0.59% -0.40% $4M
ESS 0.00% 0.38% -0.38% $0
MOFG 0.00% 0.37% -0.37% $0
PNC 0.41% 0.78% -0.36% $8M
PLYM 0.00% 0.35% -0.35% $0
DCI 0.58% 0.93% -0.35% $11M
NSA 0.39% 0.73% -0.34% $8M
QRVO 0.00% 0.31% -0.31% $0

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 24 $41M 2.1%
Large Cap 91 $574M 29.7%
Mid Cap 89 $820M 42.4%
Small Cap 54 $448M 23.2%
Micro Cap 12 $50M 2.6%

Portfolio Analytics

Avg Market Cap
$141.9B
Median Market Cap
$7.0B
Avg P/E
30.4
Median P/E
22.8
Avg Dividend Yield
0.02%
Avg Beta
0.96
# Stocks
257
# ETFs / Funds
13

Top Holdings (270 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CGAU 2.04% 2,216,216 $39M $17.79 $8M +14,766 +0.7%
2 TCBI 1.64% 333,275 $32M $94.88 -$42K -16,437 -4.7%
3 SIMO 1.46% 252,084 $28M $112.29 $3M -20,314 -7.5%
4 ECPG 1.41% 388,425 $27M $70.12 $6M +2,595 +0.7%
5 CCS 1.35% 454,587 $26M $57.38 -$936K -677 -0.1%
6 TFX 1.34% 215,998 $26M $119.61 $13M +112,071 +107.8%
7 TDY 1.31% 41,805 $25M $605.01 -$293K -8,290 -16.6%
8 VNOM 1.29% 530,479 $25M $46.99 $5M +16,253 +3.2%
9 EGO 1.25% 702,750 $24M $34.33 -$2M -30,625 -4.2%
10 ASB 1.17% 875,879 $23M $25.86 $15K -2,835 -0.3%
11 NOV 1.16% 1,194,332 $22M $18.81 $5M +105,142 +9.7%
12 ITGR 1.13% 247,977 $22M $88.00 $3M +5,262 +2.2%
13 CCBG 1.12% 500,000 $22M $43.46 $445K
14 EXC 1.11% 437,424 $21M $49.02 $4M +35,700 +8.9%
15 PSA 1.11% 78,922 $21M $270.88 $361K -2,071 -2.6%
16 EOG 1.10% 146,790 $21M $144.57 $5M -6,889 -4.5%
17 CASS 1.07% 470,524 $21M $44.02 $1M +5,485 +1.2%
18 MGY 1.03% 630,475 $20M $31.57 $6M -20,774 -3.2%
19 JBHT 1.00% 90,900 $19M $211.90 $2M +312 +0.3%
20 SBCF 0.97% 622,000 $19M $30.29 -$1M -10,052 -1.6%
21 WSO 0.97% 51,593 $19M $363.79 $4M +6,442 +14.3%
22 ASO 0.96% 329,350 $19M $56.45 $2M +4,103 +1.3%
23 HSY 0.96% 88,864 $18M $207.89 $789K -8,314 -8.6%
24 BDX 0.95% 116,344 $18M $157.23 -$1M +16,087 +16.1%
25 CPT 0.95% 187,125 $18M $97.66 $5M +64,255 +52.3%
26 GTES 0.94% 803,365 $18M $22.61 $2M +63,195 +8.5%
27 EZPW 0.93% 705,906 $18M $25.38 $4M
28 PHIN 0.91% 257,333 $18M $68.44 $2M +333 +0.1%
29 GBCI 0.86% 372,023 $17M $44.67 $252K +495 +0.1%
30 PRMB 0.85% 875,411 $16M $18.83 $9M +398,311 +83.5%
31 KWR 0.83% 129,793 $16M $124.23 -$913K +5,715 +4.6%
32 0I3I.L 0.82% 221,656 $16M $71.50 $500K +34,393 +18.4%
33 NWPX 0.81% 200,000 $16M $77.86 $262K -45,000 -18.4%
34 PLAB 0.77% 370,675 $15M $40.41 $3M -14,475 -3.8%
35 ALGT 0.77% 184,005 $15M $81.04 -$3M -23,275 -11.2%
36 XRN 0.76% 444,085 $15M $33.08 $403K +20,625 +4.9%
37 THO 0.76% 183,540 $15M $79.89 -$2M +20,723 +12.7%
38 MHK 0.75% 147,668 $15M $98.46 -$5M -26,693 -15.3%
39 LINC 0.75% 357,265 $15M $40.68 -$17M -932,735 -72.3%
40 SYY 0.70% 190,561 $14M $71.33 $2M +35,438 +22.9%
41 IIIV 0.70% 606,950 $14M $22.36 -$196K +60,400 +11.1%
42 HXL 0.70% 166,315 $13M $80.93 $1M +28 +0.0%
43 FE 0.69% 262,586 $13M $50.66 $341K -26,936 -9.3%
44 BBSI 0.68% 450,000 $13M $29.18 -$3M
45 COLM 0.67% 235,091 $13M $54.81 $9M +156,402 +198.8%
46 FOR 0.64% 505,090 $12M $24.44 -$129K -1,360 -0.3%
47 ASTE 0.64% 228,925 $12M $53.84 $2M -350 -0.1%
48 TCBK 0.61% 250,000 $12M $47.54 $42K
49 MUSA 0.61% 24,049 $12M $493.97 +24,049 NEW
50 CUBI 0.61% 170,775 $12M $69.41 -$2M -12,100 -6.6%
51 MTG 0.61% 450,000 $12M $26.25 -$5M -125,035 -21.7%
52 KEYS 0.59% 40,676 $11M $282.37 $9M +28,676 +239.0%
53 DCI 0.58% 132,607 $11M $84.87 -$6M -62,187 -31.9%
54 GTY 0.58% 350,000 $11M $31.80 +350,000 NEW
55 SIRO 0.57% 953,250 $11M $11.60 $9M +791,850 +490.6%
56 LYFT 0.57% 823,200 $11M $13.30 $29K +259,450 +46.0%
57 ARCB 0.56% 110,000 $11M $98.36 $6M +50,000 +83.3%
58 CVGW 0.53% 400,000 $10M $25.79 -$58K -76,975 -16.1%
59 RPRX 0.53% 214,398 $10M $47.97 $2M +409 +0.2%
60 CTBI 0.53% 169,350 $10M $60.72 $733K +325 +0.2%
61 NVST 0.53% 402,353 $10M $25.37 $894K -26,644 -6.2%
62 DHI 0.53% 74,387 $10M $137.22 -$858K -2,437 -3.2%
63 CMCO 0.52% 694,050 $10M $14.53 -$181K +98,950 +16.6%
64 CWCO 0.51% 300,250 $10M $33.12 -$634K +500 +0.2%
65 INVX 0.51% 407,332 $10M $24.39 $3M +107,332 +35.8%
66 ACGL 0.51% 103,497 $10M $95.99 $2M +15,819 +18.0%
67 SF 0.51% 134,153 $10M $73.92 -$828K +48,346 +56.3%
68 FNB 0.51% 590,362 $10M $16.72 -$680K -26,663 -4.3%
69 FBK 0.50% 187,481 $10M $51.94 -$725K -30 -0.0%
70 MKTX 0.50% 58,334 $10M $164.98 $4M +29,913 +105.2%
71 MTDR 0.50% 152,283 $10M $63.18 $701K -57,896 -27.6%
72 LAMR 0.49% 75,116 $10M $126.66 -$312K -2,512 -3.2%
73 PKG 0.49% 44,805 $10M $212.22 $1M +5,660 +14.5%
74 KMI 0.49% 282,733 $9M $33.53 $4M +100,693 +55.3%
75 CSV 0.49% 207,300 $9M $45.66 $697K
76 NTRS 0.49% 67,779 $9M $139.57 -$5M -39,456 -36.8%
77 ICHR 0.48% 200,000 $9M $46.61 $4M -100,000 -33.3%
78 NEOG 0.48% 1,000,000 $9M $9.29 $2M
79 DGX 0.48% 46,986 $9M $195.98 $833K -1,277 -2.6%
80 LFUS 0.47% 26,835 $9M $339.35 $2M -2,615 -8.9%
81 FCFS 0.46% 47,446 $9M $188.00 $510K -5,322 -10.1%
82 HSIC 0.46% 120,000 $9M $73.70 -$226K
83 ON 0.45% 140,942 $9M $61.92 $3M +32,989 +30.6%
84 BRC 0.45% 106,918 $9M $81.24 -$930K -15,777 -12.9%
85 XEL 0.45% 109,177 $9M $79.44 -$53K -8,969 -7.6%
86 AOS 0.45% 130,710 $9M $65.94 -$847K -10,833 -7.7%
87 GOOGL 0.44% 29,906 $9M $287.56 -$706K +175 +0.6%
88 PRIM 0.44% 60,000 $9M $143.04 $1M
89 INGR 0.44% 75,877 $9M $112.66 $2M +20,862 +37.9%
90 AQN 0.44% 1,392,030 $9M $6.14 $5M +892,030 +178.4%
91 SAH 0.44% 123,225 $8M $68.57 +123,225 NEW
92 NIC 0.43% 55,758 $8M $148.62 +55,758 NEW
93 ST 0.42% 233,325 $8M $35.22 $1M +28,825 +14.1%
94 OXM 0.42% 211,093 $8M $38.51 $3M +61,093 +40.7%
95 AUDC 0.42% 965,734 $8M $8.41 $843K +131,934 +15.8%
96 PNC 0.41% 38,460 $8M $208.09 -$6M -30,498 -44.2%
97 EGP 0.41% 42,887 $8M $185.09 $330K +182 +0.4%
98 INBK 0.41% 384,900 $8M $20.38 $2M +96,305 +33.4%
99 UTL 0.41% 150,000 $8M $52.24 +150,000 NEW
100 RE 0.40% 23,937 $8M $326.85 -$761K -1,362 -5.4%

New Positions

SymbolValue% Port
MUSA $12M 0.61%
GTY $11M 0.58%
SAH $8M 0.44%
NIC $8M 0.43%
UTL $8M 0.41%
SHLS $7M 0.36%
SLB $7M 0.34%
CHH $6M 0.33%
QNST $6M 0.31%
MLR $5M 0.28%
SANM $5M 0.27%
MSA $5M 0.25%
WAT $4M 0.19%
IEX $3M 0.16%
ARCT $2M 0.10%

Sold Out Positions

SymbolValue% Port
WT —%
THR —%
WD —%
IP —%
KMX —%
ESS —%
ADT —%
UGI —%
SUI —%
RDN —%
MICC —%
SNN —%
KMB —%
KDP —%
MAMA —%
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