Heartland Advisors, an investment management company, released its second-quarter 2026 investor letter for “Heartland Mid Cap Value Fund”.
A copy can be downloaded here
Mid-cap stocks sharply rose in the second quarter, driven by perceived AI beneficiaries, particularly in Technology. The Fund returned 9.90% in the quarter, compared to the Russell Midcap® Value Index’s 13.40% return. The underperformance was driven by negative stock selection despite Tech being one of the top absolute return contributors.
In the challenging environment, the Fund remains focused on its disciplined approach to security selection. In addition, you can check the Fund’s top 5 holdings to determine its best picks for 2026. In its Q2 2026 investor letter, Heartland Mid Cap Value Fund highlighted ON Semiconductor Corporation (NASDAQ:ON).