Heartland Advisors Shows Steady Growth in Q3 vs. Q4 2022 Holdings

Heartland Advisors Inc, a Wisconsin-based investment firm, has released its Q3 vs. Q4 2022 comparison revealing stable growth in portfolio holdings. Heartland Advisors manages several funds such as the Heartland Funds, which includes small, mid, and value cap domestic equity. The company boasts a disciplined and patient approach to investing, and the numbers from the Q3 vs. Q4 2022 comparison seem to support that philosophy. In this article, we will take a closer look at some of the changes in holdings within their portfolio.

Starting with the top five changes in holdings, we see Texas Capital Bancshares Inc. (TCBI) experiencing an increase of 102,098 shares. At the end of Q4 2022, they held 594,468 shares in TCBI and had a value of $35,852,000. TCBI is a partner financial institution that assists companies to grow, manage their business, and provide them with a comprehensive banking service.

Another notable change in holdings is seen with Nov Inc. (NOV), an oilfield service provider. The comparison showed an increase in holdings of 65,002 shares with a value of $9,006,000. Encompass Health Corp (EHC), a provider of healthcare services, had an increase of 7,013 shares valued at $7,463,000.

Moving on to the top five decreases in holdings within the portfolio, we see that Haemonetics Corp Mass (HAE) had a decrease of 68,541 shares, valued at $3,551,000. The reason for the decrease in holdings is unclear, but it should be noted that HAE's performance during Q3 2022 was not particularly encouraging. Their net revenue was $229.6 million (a decrease of 3.4% from the previous year), and their gross profit was $95.8 million, while their operating income was $4.6 million.

First Intst Bancsystem Inc. (FIBK) had a decrease in holdings of 3,040 shares, worth $620,000. Radian Group Inc. (RDN) held 1,650 shares less at the end of Q4 2022, which were worth $159,330. PotlatchDeltic Corp. (PCH) had a decrease of 19,773 shares. Their PCH holdings were worth $1,630,00 at the end of Q4 2022.

There are also some new holdings that Heartland Advisors Inc added to its portfolio during the period in question. For example, although it was not present at the end of Q3 2022, Sunstone Hotel Invs Inc. (SHO) was added in Q4 2022, and Heartland held 980,400 shares, worth $9,470,000.

In conclusion, it is apparent that Heartland Advisors Inc is consistently maintaining and growing a diverse portfolio. Despite dips in some holdings, the changes in their holdings from Q3 to Q4 2022 demonstrate a steady increase. It will be interesting to see how the funds develop further into 2023 and whether Heartland Advisors maintains their trajectory.