SBCF - Heartland Value Fund Q2 2024 Portfolio Manager Commentary

2024-07-19 10:20:00 ET

Summary

• Heartland Advisors is a boutique, independent investment firm in Milwaukee, WI. Our value-focused, actively managed product suite includes distinct U.S. and international investing strategies, which are offered through five mutual funds and four separately managed accounts.
• The Heartland Value Fund outperformed its benchmark in the quarter — as it has year-to-date and over the past 1, 3, and 5 years.
• Active management is already helping investors identify opportunities that could shine once mega-caps’ stranglehold loosens.
• Though popular equity indices are priced at historically high levels, we have been able to initiate new positions at admirable valuation discounts.

"You can't take the same actions as everyone else and expect to outperform."- Howard Marks

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