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Heartland Advisors Mid Cap Value Fund’s Q2 2024 Investor Letter

Heartland Advisors, an investment management company, released its “Heartland Mid Cap Value Fund” second quarter 2024 investor letter. It has been difficult to reflect on how the market has behaved recently because each month of this year has felt unique. The second quarter was no different. The fund fell 4.12% in the quarter compared to the Russell Midcap Value Index’s 3.40% decline. Negative selection effect across seven sectors, led by Consumer Discretionary and Utilities, partially drove the fund’s underperformance in the quarter. In addition, you can check the top 5 holdings...