Heartland Mid Cap Value Fund Institutional Class
HNMDX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 790 N. Water Street Milwaukee WI United States of America 53202
- IPO Date
- Nov 3, 2014
- CIK
- 0000809586
- Website
- heartlandadvisors.com
- Similar Companies
- Business
- Heartland Mid Cap Value Fund Institutional Class (HNMDX) is an actively managed open-end mutual fund that seeks long-term capital appreciation and modest current income by investing at least 80% of its net assets in common stocks and other equity securities of mid-capitalization companies selected on a value basis, whose current market prices are undervalued relative to their intrinsic value according to Heartland Advisors' judgment; it employs a barbell approach with two distinct baskets of 40-60 holdings, comprising value and deep-value stocks, primarily dividend-paying companies within a market capitalization range consistent with the Russell Midcap Value Index. The fund emphasizes stock selection driven by specific catalysts to unlock value, alongside risk management rules and tools for portfolio construction; as of September 30, 2025, it holds 60 positions with $522 million in assets, a weighted average market cap of $29.6 billion, 82.6% in dividend-paying equities, and top sectors including industrials (19.11%), financials (12.81%), and information technology (11.31%); key holdings feature Teledyne Technologies (4.5%), Public Storage (4.0%), and Exelon (3.4%). Heartland Advisors, Inc., the fund's investment adviser founded in 1983 and headquartered at 790 N. Water Street, Suite 1200, Milwaukee, Wisconsin, manages HNMDX alongside other value-oriented strategies focused on U.S. micro- through mid-cap stocks using proprietary 10 Principles of Value Investing; the firm, 100% employee-owned with approximately $1.9 billion in assets under management as of September 30, 2025, distributes the fund through ALPS Distributors, Inc., and targets individual investors, financial professionals, and institutions with a minimum initial investment of $500,000 for the institutional class. Portfolio managers include Colin McWey (since inception on October 31, 2014), Will Nasgovitz (since February 2015), and Troy McGlone (since January 2021), with the institutional class net expense ratio capped at 0.85% through at least April 5, 2027, via voluntary fee waivers. Recent developments include strengthened board representation with the election of Dianna Gonzales-Burdin and Dina Tantra, a relocation to the BMO Tower in downtown Milwaukee to maintain its presence, and the mid-cap team's decade-long collaboration milestone celebrated in 2024, alongside ongoing portfolio adjustments such as pivots toward self-help strategies amid destocking and economic normalization into early 2025; the firm reports no major acquisitions, funding rounds, or strategic alliances specific to HNMDX in the last 1-2 years, maintaining its independent structure as a subsidiary of Heartland Holdings, Inc.