Heartland Advisors, an investment management company, released its “Heartland Value Plus Fund” third quarter 2024 investor letter. During the quarter, the market began to broaden as small-cap stocks rose in expectation of interest rate reduction by the Federal Reserve, and companies with compelling self-help strategies are being rewarded. The strategy gained 7.93% in the quarter, compared to a 10.15% return for the Russell 2000 Value Index. The underperformance was due to the stock selection in the Health Care, Information Technology, and Energy sectors. On the other hand, the...
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