2024-04-17 11:00:00 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.
- Large caps retook market leadership in the first quarter, as their profits held up better in 2023 than small-company earnings.
- Next year, however, Russell 2000® Index profits are expected to climb faster than the broad market, which could provide a tailwind for small businesses.
- We believe the small cap market continues to present opportunities, especially as many have already experienced recession-like conditions within their industries and have implemented self-help strategies in response.
First Quarter Market Discussion
After surging around 22% in final two months of last year, the Russell 2000® Index slowed considerably in the first quarter, posting modest gains of 5.2%, underperforming the S&P 500 Index by a wide margin....
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For further details see:
Heartland Value Plus Fund Q1 2024 Portfolio Manager Commentary