# HEARTLAND ADVISORS INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 937394. Source: https://holderbook.com/funds/937394-heartland-advisors-inc/

- Reported value: $2.2B
- Positions: 244
- Weight of the ten largest: 13.7%
- Filed: 2026-08-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| SILICON MOTION TECHNOLOGY CO | [SIMO](https://holderbook.com/stocks/SIMO/) | $41.3M | 123,895 | 1.8% | 14 |
| CENTURY COMMUNITIES INC | [CCS](https://holderbook.com/stocks/CCS/) | $37.0M | 516,410 | 1.6% | 31 |
| CENTERRA GOLD INC | [CGAU](https://holderbook.com/stocks/CGAU/) | $34.1M | 2,148,931 | 1.5% | 21 |
| ENCORE CAP GROUP INC | [ECPG](https://holderbook.com/stocks/ECPG/) | $33.8M | 362,825 | 1.5% | 6 |
| TEXAS CAP BANCSHARES INC | [TCBI](https://holderbook.com/stocks/TCBI/) | $29.0M | 280,763 | 1.3% | 18 |
| TELEDYNE TECHNOLOGIES INC | [TDY](https://holderbook.com/stocks/TDY/) | $27.6M | 41,448 | 1.2% | 10 |
| TELEFLEX INCORPORATED | [TFX](https://holderbook.com/stocks/TFX/) | $26.9M | 211,848 | 1.2% | 8 |
| ACADEMY SPORTS & OUTDOORS IN | [ASO](https://holderbook.com/stocks/ASO/) | $26.6M | 563,941 | 1.2% | 9 |
| QUAKER HOUGHTON | [KWR](https://holderbook.com/stocks/KWR/) | $26.3M | 165,289 | 1.2% | 7 |
| ASSOCIATED BANC CORP | [ASB](https://holderbook.com/stocks/ASB/) | $25.7M | 835,979 | 1.1% | 31 |
| CASS INFORMATION SYS INC | [CASS](https://holderbook.com/stocks/CASS/) | $25.3M | 493,406 | 1.1% | 22 |
| CAPITAL CITY BANK | [CCBG](https://holderbook.com/stocks/CCBG/) | $24.7M | 500,000 | 1.1% | 31 |
| EZCORP INC | [EZPW](https://holderbook.com/stocks/EZPW/) | $24.4M | 705,906 | 1.1% | 24 |
| EVERTEC INC | [EVTC](https://holderbook.com/stocks/EVTC/) | $23.3M | 840,400 | 1.0% | 31 |
| PRIMO BRANDS CORPORATION | [PRMB](https://holderbook.com/stocks/PRMB/) | $22.9M | 938,304 | 1.0% | 4 |
| VIPER ENERGY INC | [VNOM](https://holderbook.com/stocks/VNOM/) | $22.7M | 536,382 | 1.0% | 4 |
| INTEGER HLDGS CORP | [ITGR](https://holderbook.com/stocks/ITGR/) | $22.4M | 240,234 | 1.0% | 14 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $22.1M | 69,500 | 1.0% | 11 |
| ELDORADO GOLD CORP NEW | [EGO](https://holderbook.com/stocks/EGO/) | $22.1M | 709,550 | 1.0% | 7 |
| GATES INDL CORP PLC | [GTES](https://holderbook.com/stocks/GTES/) | $21.9M | 782,644 | 1.0% | 10 |
| HUNT J B TRANS SVCS INC | [JBHT](https://holderbook.com/stocks/JBHT/) | $21.8M | 75,308 | 1.0% | 14 |
| ALLEGIANT TRAVEL CO | [ALGT](https://holderbook.com/stocks/ALGT/) | $21.7M | 184,835 | 1.0% | 4 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $21.6M | 166,284 | 1.0% | 14 |
| SEACOAST BKG CORP FLA | [SBCF](https://holderbook.com/stocks/SBCF/) | $21.5M | 646,432 | 1.0% | 31 |
| NWPX INFRASTRUCTURE INC | [NWPX](https://holderbook.com/stocks/NWPX/) | $21.0M | 140,000 | 0.9% | 31 |
| CHIRON REAL ESTATE INC | [XRN](https://holderbook.com/stocks/XRN/) | $20.9M | 556,260 | 0.9% | 4 |
| CAMDEN PPTY TR | [CPT](https://holderbook.com/stocks/CPT/) | $20.8M | 181,848 | 0.9% | 10 |
| PHINIA INC | [PHIN](https://holderbook.com/stocks/PHIN/) | $20.8M | 252,333 | 0.9% | 5 |
| WATSCO INC | [WSO](https://holderbook.com/stocks/WSO/) | $20.8M | 49,860 | 0.9% | 17 |
| I3 VERTICALS INC | [IIIV](https://holderbook.com/stocks/IIIV/) | $20.6M | 965,250 | 0.9% | 16 |
| NOV INC | [NOV](https://holderbook.com/stocks/NOV/) | $20.6M | 1,108,587 | 0.9% | 22 |
| EXELON CORP | [EXC](https://holderbook.com/stocks/EXC/) | $20.4M | 437,106 | 0.9% | 31 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $19.6M | 129,740 | 0.9% | 18 |
| LXP INDUSTRIAL TRUST | [LXP](https://holderbook.com/stocks/LXP/) | $19.6M | 363,350 | 0.9% | 2 |
| GLACIER BANCORP INC NEW | [GBCI](https://holderbook.com/stocks/GBCI/) | $18.7M | 361,699 | 0.8% | 25 |
| HEXCEL CORP NEW | [HXL](https://holderbook.com/stocks/HXL/) | $18.0M | 179,935 | 0.8% | 9 |
| BARRETT BUSINESS SVCS INC | [BBSI](https://holderbook.com/stocks/BBSI/) | $16.0M | 450,000 | 0.7% | 31 |
| ARCBEST CORP | [ARCB](https://holderbook.com/stocks/ARCB/) | $15.8M | 110,000 | 0.7% | 3 |
| MAGNOLIA OIL & GAS CORP | [MGY](https://holderbook.com/stocks/MGY/) | $15.7M | 615,475 | 0.7% | 10 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $15.6M | 88,817 | 0.7% | 10 |
| COLUMBIA SPORTSWEAR CO | [COLM](https://holderbook.com/stocks/COLM/) | $15.5M | 250,091 | 0.7% | 4 |
| MOHAWK INDS INC | [MHK](https://holderbook.com/stocks/MHK/) | $15.3M | 126,088 | 0.7% | 31 |
| FORESTAR GROUP INC | [FOR](https://holderbook.com/stocks/FOR/) | $15.0M | 474,813 | 0.7% | 30 |
| HAEMONETICS CORP MASS | [HAE](https://holderbook.com/stocks/HAE/) | $15.0M | 200,000 | 0.7% | 21 |
| ASTEC INDS INC | [ASTE](https://holderbook.com/stocks/ASTE/) | $14.8M | 241,590 | 0.7% | 27 |
| COOPER COS INC | [COO](https://holderbook.com/stocks/COO/) | $14.6M | 203,834 | 0.7% | 3 |
| SHOALS TECHNOLOGIES GROUP IN | [SHLS](https://holderbook.com/stocks/SHLS/) | $14.5M | 1,466,050 | 0.6% | 2 |
| LYFT INC | [LYFT](https://holderbook.com/stocks/LYFT/) | $14.5M | 990,050 | 0.6% | 6 |
| SENSATA TECHNOLOGIES HLDG PL | [ST](https://holderbook.com/stocks/ST/) | $14.1M | 295,650 | 0.6% | 8 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $13.8M | 39,354 | 0.6% | 3 |
| TRICO BANCSHARES | [TCBK](https://holderbook.com/stocks/TCBK/) | $13.5M | 250,000 | 0.6% | 31 |
| THOR INDS INC | [THO](https://holderbook.com/stocks/THO/) | $12.9M | 171,154 | 0.6% | 31 |
| MGIC INVT CORP WIS | [MTG](https://holderbook.com/stocks/MTG/) | $12.7M | 450,000 | 0.6% | 31 |
| SANMINA CORP | [SANM](https://holderbook.com/stocks/SANM/) | $12.7M | 50,000 | 0.6% | 2 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $12.6M | 108,279 | 0.6% | 8 |
| SONIC AUTOMOTIVE INC | [SAH](https://holderbook.com/stocks/SAH/) | $12.5M | 147,598 | 0.6% | 2 |
| DENTSPLY SIRONA INC | [XRAY](https://holderbook.com/stocks/XRAY/) | $12.4M | 1,167,350 | 0.6% | 14 |
| PHOTRONICS INC | [PLAB](https://holderbook.com/stocks/PLAB/) | $12.4M | 379,795 | 0.6% | 28 |
| CORE LABORATORIES INC | [CLB](https://holderbook.com/stocks/CLB/) | $12.3M | 1,058,311 | 0.5% | 2 |
| UNITIL CORP | [UTL](https://holderbook.com/stocks/UTL/) | $12.2M | 232,349 | 0.5% | 2 |
| MATERION CORP | [MTRN](https://holderbook.com/stocks/MTRN/) | $12.1M | 40,550 | 0.5% | 9 |
| MARKETAXESS HLDGS INC | [MKTX](https://holderbook.com/stocks/MKTX/) | $11.9M | 104,926 | 0.5% | 3 |
| DONALDSON INC | [DCI](https://holderbook.com/stocks/DCI/) | $11.9M | 132,479 | 0.5% | 10 |
| COMMUNITY TR BANCORP INC | [CTBI](https://holderbook.com/stocks/CTBI/) | $11.9M | 164,210 | 0.5% | 11 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $11.9M | 72,847 | 0.5% | 6 |
| CUSTOMERS BANCORP INC | [CUBI](https://holderbook.com/stocks/CUBI/) | $11.9M | 150,000 | 0.5% | 7 |
| HUMANA INC | [HUM](https://holderbook.com/stocks/HUM/) | $11.8M | 29,632 | 0.5% | 3 |
| GETTY RLTY CORP NEW | [GTY](https://holderbook.com/stocks/GTY/) | $11.7M | 350,000 | 0.5% | 2 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $11.6M | 139,290 | 0.5% | 7 |
| ROYALTY PHARMA PLC | [RPRX](https://holderbook.com/stocks/RPRX/) | $11.5M | 204,398 | 0.5% | 4 |
| NORTHERN TR CORP | [NTRS](https://holderbook.com/stocks/NTRS/) | $11.5M | 65,924 | 0.5% | 14 |
| TETRA TECHNOLOGIES INC DEL | [TTI](https://holderbook.com/stocks/TTI/) | $11.3M | 1,000,100 | 0.5% | 3 |
| INNOVEX INTERNATIONAL INC | [INVX](https://holderbook.com/stocks/INVX/) | $11.0M | 444,373 | 0.5% | 4 |
| LAMAR ADVERTISING CO | [LAMR](https://holderbook.com/stocks/LAMR/) | $10.9M | 70,116 | 0.5% | 25 |
| LITTELFUSE INC | [LFUS](https://holderbook.com/stocks/LFUS/) | $10.8M | 23,703 | 0.5% | 6 |
| F N B CORP | [FNB](https://holderbook.com/stocks/FNB/) | $10.8M | 565,362 | 0.5% | 6 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $10.6M | 332,613 | 0.5% | 3 |
| FIRST INTERNET BANCORP | [INBK](https://holderbook.com/stocks/INBK/) | $10.5M | 375,900 | 0.5% | 31 |
| ADTRAN HOLDINGS INC | [ADTN](https://holderbook.com/stocks/ADTN/) | $10.4M | 750,000 | 0.5% | 2 |
| FIRSTENERGY CORP | [FE](https://holderbook.com/stocks/FE/) | $10.4M | 217,875 | 0.5% | 31 |
| RENASANT CORP | [RNST](https://holderbook.com/stocks/RNST/) | $10.2M | 239,965 | 0.5% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $10.1M | 28,144 | 0.4% | 26 |
| SCHEIN HENRY INC | [HSIC](https://holderbook.com/stocks/HSIC/) | $10.0M | 120,000 | 0.4% | 3 |
| PACKAGING CORP AMER | [PKG](https://holderbook.com/stocks/PKG/) | $10.0M | 41,808 | 0.4% | 15 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $9.9M | 122,828 | 0.4% | 4 |
| CENTENE CORP DEL | [CNC](https://holderbook.com/stocks/CNC/) | $9.8M | 152,111 | 0.4% | 19 |
| FIRSTCASH HOLDINGS INC | [FCFS](https://holderbook.com/stocks/FCFS/) | $9.7M | 44,877 | 0.4% | 7 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $9.6M | 45,311 | 0.4% | 31 |
| MURPHY USA INC | [MUSA](https://holderbook.com/stocks/MUSA/) | $9.6M | 17,732 | 0.4% | 2 |
| ALPINE INCOME PPTY TR INC | [PINE](https://holderbook.com/stocks/PINE/) | $9.4M | 455,175 | 0.4% | 17 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $9.3M | 96,117 | 0.4% | 4 |
| ENVISTA HOLDINGS CORPORATION | [NVST](https://holderbook.com/stocks/NVST/) | $9.3M | 352,353 | 0.4% | 7 |
| NICOLET BANKSHARES INC | [NIC](https://holderbook.com/stocks/NIC/) | $9.2M | 55,758 | 0.4% | 2 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $9.2M | 37,357 | 0.4% | 14 |
| WATERS CORP | [WAT](https://holderbook.com/stocks/WAT/) | $9.2M | 24,463 | 0.4% | 2 |
| ARAMARK | [ARMK](https://holderbook.com/stocks/ARMK/) | $9.1M | 159,926 | 0.4% | 5 |
| BANK OF MARIN BANCORP | [BMRC](https://holderbook.com/stocks/BMRC/) | $9.0M | 325,508 | 0.4% | 3 |
| FB FINL CORP | [FBK](https://holderbook.com/stocks/FBK/) | $9.0M | 162,481 | 0.4% | 11 |
| NEOGEN CORP | [NEOG](https://holderbook.com/stocks/NEOG/) | $9.0M | 1,000,000 | 0.4% | 3 |
| MSA SAFETY INC | [MSA](https://holderbook.com/stocks/MSA/) | $9.0M | 51,275 | 0.4% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +16.2% | +14.8% | +1.4% | 99% |
| Q1 2026 | +5.8% | -4.6% | +10.4% | 99% |
| Q4 2025 | -0.0% | +2.4% | -2.4% | 100% |
| Q3 2025 | +7.2% | +7.8% | -0.6% | 100% |
| Q2 2025 | +4.0% | +10.5% | -6.5% | 100% |
| Q1 2025 | -3.3% | -4.6% | +1.3% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.8% | 99% |
| Q3 2024 | +8.4% | +5.4% | +2.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.2B | 244 |
| Q1 2026 | $2.0B | 244 |
| Q4 2025 | $1.9B | 253 |
| Q3 2025 | $1.9B | 237 |
| Q2 2025 | $1.8B | 213 |
| Q1 2025 | $1.7B | 202 |
| Q4 2024 | $1.8B | 198 |
| Q3 2024 | $1.9B | 184 |
| Q2 2024 | $1.8B | 178 |
| Q1 2024 | $1.9B | 175 |
| Q4 2023 | $1.9B | 183 |
| Q3 2023 | $1.8B | 178 |