Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Heartland Value Plus Fund posted an 8.51% gain in 3Q25, benefiting from the first year-over-year small-cap earnings growth since 2021, while maintaining a strict focus on high-quality value companies with proactive capital allocation.
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Heartland Value Plus Fund posted an 8.51% gain in 3Q25, benefiting from the first year-over-year small-cap earnings growth since 2021, while maintaining a strict focus on high-quality value companies with proactive capital allocation.
The Pzena Focused Value strategy underperformed its value benchmark in Q3 2025, returning 0.9% net. Active moves included initiating positions in PPG and Solventum, exiting Charter Communications, and trimming Citigroup and CVS on strength.
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The Pzena Focused Value strategy underperformed its value benchmark in Q3 2025, returning 0.9% net. Active moves included initiating positions in PPG and Solventum, exiting Charter Communications, and trimming Citigroup and CVS on strength.
The Heartland Value Plus Fund gained 1.86% in 2Q25, underperforming its benchmark, but the managers are increasingly optimistic about small-caps due to improving earnings projections and strong insider buying, favoring companies with robust self-help margin expansion strategies.
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The Heartland Value Plus Fund gained 1.86% in 2Q25, underperforming its benchmark, but the managers are increasingly optimistic about small-caps due to improving earnings projections and strong insider buying, favoring companies with robust self-help margin expansion strategies.
Aoris International Fund outpaced its benchmark in Q2 2025, returning 8.2% (Class A) and active changes were executed, including the purchase of Jack Henry and the sale of Atlas Copco and Copart.
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Aoris International Fund outpaced its benchmark in Q2 2025, returning 8.2% (Class A) and active changes were executed, including the purchase of Jack Henry and the sale of Atlas Copco and Copart.
