Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The Value Plus Fund seeks long-term capital appreciation and modest current income.
Strategy. The Value Plus Fund invests primarily in a concentrated number (generally 40 to 70) of small-capitalization common stocks selected on a value basis. A majority of its assets are generally invested in dividend-paying common stocks. The Fund invests a majority of its assets in companies with market capitalizations consistent with the capitalization range of the Russell 2000 Value Index. As of April 30, 2024, the market capitalization range of the Russell 2000 Value Index was $150.4 million to $7.1 billion. The Fund utilizes Heartland Advisors disciplined and time-tested 10 Principles of Value Investing TM framework to identify securities with the potential for appreciation and a potential margin of safety to limit downside risk. The 10 Principles of Value Investing are: … The Value Plus Fund invests primarily in a concentrated number (generally 40 to 70) of small-capitalization common stocks selected on a value basis. A majority of its assets are generally invested in dividend-paying common stocks. The Fund invests a majority of its assets in companies with market capitalizations consistent with the capitalization range of the Russell 2000 Value Index. As of April 30, 2024, the market capitalization range of the Russell 2000 Value Index was $150.4 million to $7.1 billion. The Fund utilizes Heartland Advisors disciplined and time-tested 10 Principles of Value Investing TM framework to identify securities with the potential for appreciation and a potential margin of safety to limit downside risk. The 10 Principles of Value Investing are: catalyst for recognition, low price in relation to earnings, low price in relation to cash flow, low price in relation to book value, financial soundness, positive earnings dynamics, sound business strategy, capable management and insider ownership, value of the company, and positive technical analysis.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ROYALTY PHARMA-A | — | $9.59M | 3.27% |
| ENVISTA HOLDINGS CORP | — | $9.51M | 3.24% |
| STIFEL FINANCIAL CORP | — | $9.24M | 3.15% |
| FNB CORP PA | — | $9.20M | 3.13% |
| FB FINANCIAL CORP | — | $9.09M | 3.09% |
| SEACOAST BANKING CORP FLORIDA | — | $9.09M | 3.09% |
| ASSOCIATED BANC CORP | — | $8.92M | 3.04% |
| LAMAR ADVERTISING CO CL A | — | $8.87M | 3.02% |
| LITTELFUSE INC | — | $8.48M | 2.89% |
| EASTGROUP PROP | — | $7.40M | 2.52% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Heartland Value Fund · HRTVX, HNTVX | 19% | 0.91% |
| Carillon Chartwell Small Cap Value Fund · CWSIX, CWSHX, CWSCX, CWSWX | 17% | 0.95% |
| LVIP Wellington SMID Cap Value Fund | 16% | 0.77% |
Advisers
| Firm | Role |
|---|---|
| Heartland Advisors | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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