Heartland Advisors Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Heartland Advisors Inc. reported 253 stock positions worth $1.9 billion. Its top holding was Texas Capital Bancshares (TCBI) at 1.7% of the portfolio, followed by Centerra Gold (CGAU, 1.7%) and Lincoln Educational Services (LINC, 1.7%). Compared with Q3 2025, it opened 28 new positions, sold out of 14, added to 50 and reduced 119. The biggest buy was a new position in Cooper Cos (COO) and the biggest sale Perrigo (PRGO, shares −79%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0000937394
- Portfolio Value
- $1.9B (Q4 2025)
- SEC Filing
- 0000892712-26-000080 ↗ filed Feb 11, 2026
Holdings Value
Holdings 253 stocks · $1.9B
| TCBI Texas Capital Bancshares Inc. | 1.71% | 349,712 | $31.7M | Reduce -14.9% |
| CGAU Centerra Gold Inc. | 1.70% | 2,201,450 | $31.6M | Reduce -8.3% |
| LINC Lincoln Educational Services | 1.68% | 1,290,000 | $31.2M | No change |
| CCS Century Communities Inc. | 1.46% | 455,264 | $27.0M | Reduce -0.2% |
| EGO Eldorado Gold Corp. | 1.42% | 733,375 | $26.3M | Reduce -1.9% |
| TDY Teledyne Technologies Inc. | 1.38% | 50,095 | $25.6M | Reduce -2.2% |
| SIMO Silicon Motion Technol-ADR | 1.36% | 272,398 | $25.3M | Reduce -23.4% |
| ASB Associated Banc-Corp. | 1.22% | 878,714 | $22.6M | Add +0.1% |
| CCBG Capital City Bank Group Inc. | 1.15% | 500,000 | $21.3M | No change |
| PSA Public Storage | 1.13% | 80,993 | $21.0M | Reduce -8.6% |
| ECPG Encore Capital Group Inc. | 1.13% | 385,830 | $21.0M | Add +10.0% |
| VNOM Viper Energy Inc. Class A | 1.07% | 514,226 | $19.9M | Add +46.9% |
| SBCF Seacoast Banking Corp. | 1.07% | 632,052 | $19.9M | Reduce -4.6% |
| BDX Becton Dickinson and Co. | 1.05% | 100,257 | $19.5M | Add +12.4% |
| CASS Cass Information Systems Inc. | 1.04% | 465,039 | $19.3M | Reduce -0.3% |
| MHK Mohawk Industries Inc. | 1.03% | 174,361 | $19.1M | Reduce -4.3% |
| ITGR Integer Holdings Corp. | 1.03% | 242,715 | $19.0M | Add +506.8% |
| HSY The Hershey Co. | 0.95% | 97,178 | $17.7M | Reduce -9.3% |
| ALGT Allegiant Travel Co. | 0.95% | 207,280 | $17.7M | Reduce -1.2% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.95% | 90,588 | $17.6M | Reduce -17.5% |
| EXC Exelon Corp. | 0.94% | 401,724 | $17.5M | Reduce -6.8% |
| DCI Donaldson Co. Inc. | 0.93% | 194,794 | $17.3M | Reduce -4.3% |
| KWR Quaker Chemical Corporation | 0.92% | 124,078 | $17.0M | Add +37.3% |
| NOV Nov Inc. | 0.92% | 1,089,190 | $17.0M | Reduce -3.2% |
| MTG Mgic Investment Corp. | 0.91% | 575,035 | $16.8M | Reduce -13.5% |
| THO Thor Industries Inc. | 0.90% | 162,817 | $16.7M | Reduce -4.1% |
| GBCI Glacier Bancorp Inc. | 0.88% | 371,528 | $16.4M | Reduce -19.9% |
| BBSI Barrett Business SVCS Inc. | 0.88% | 450,000 | $16.3M | No change |
| ASO Academy Sports & Outdoors Inc. | 0.88% | 325,247 | $16.2M | Add +18.9% |
| EOG EOG Resources Inc. | 0.87% | 153,679 | $16.1M | Add +5.5% |
| PHIN Phinia Inc. | 0.87% | 257,000 | $16.1M | Reduce -0.0% |
| GTES Gates Industrial Corp. UK Ltd. | 0.86% | 740,170 | $15.9M | Reduce -8.7% |
| COO The Cooper Cos Inc. | 0.83% | 187,263 | $15.3M | New |
| NWPX NWPX Infrastructure Inc. | 0.82% | 245,000 | $15.3M | Reduce -23.8% |
| WSO Watsco Inc. | 0.82% | 45,151 | $15.2M | Add +22.6% |
| NTRS Northern Trust Corp. | 0.79% | 107,235 | $14.6M | Reduce -19.8% |
| PNC PNC Financial Services Group | 0.78% | 68,958 | $14.4M | Add +1.9% |
| XRN Chiron Real Estate Inc. filed as GLOBAL MED REIT INC | 0.77% | 423,460 | $14.3M | Add +177.4% |
| MGY Magnolia Oil & Gas Corp. Class A | 0.77% | 651,249 | $14.3M | Add +13.0% |
| IIIV I3 Verticals Inc. Class A | 0.74% | 546,550 | $13.8M | Add +0.3% |
| EZPW Ezcorp Inc. Class A | 0.74% | 705,906 | $13.7M | No change |
| NSA National Storage Affiliates | 0.73% | 482,125 | $13.6M | Reduce -25.4% |
| CPT Camden Property Trust | 0.73% | 122,870 | $13.5M | Reduce -2.0% |
| CUBI Customers Bancorp Inc. | 0.72% | 182,875 | $13.4M | Reduce -1.1% |
| FE Firstenergy Corp. | 0.70% | 289,522 | $13.0M | Reduce -10.9% |
| TFX Teleflex Inc. | 0.68% | 103,927 | $12.7M | Reduce -30.7% |
| FOR Forestar Group Inc. | 0.67% | 506,450 | $12.5M | Reduce -1.9% |
| PLAB Photronics Inc. | 0.66% | 385,150 | $12.3M | Reduce -21.4% |
| HXL Hexcel Corp. | 0.66% | 166,287 | $12.3M | Reduce -1.8% |
| UGI Ugi Corp. | 0.64% | 319,000 | $11.9M | Add +6.3% |
| TCBK Trico Bancshares | 0.64% | 250,000 | $11.8M | No change |
| SYY Sysco Corp. | 0.62% | 155,123 | $11.4M | Reduce -16.4% |
| DHI D.R. Horton Inc. | 0.60% | 76,824 | $11.1M | Reduce -1.1% |
| TEL Te Connectivity PLC | 0.59% | 48,290 | $11.0M | Reduce -22.7% |
| LYFT LYFT Inc. Class A | 0.59% | 563,750 | $10.9M | Reduce -5.2% |
| RDN Radian Group Inc. | 0.58% | 300,000 | $10.8M | No change |
| SF Stifel Financial Corp. | 0.58% | 85,807 | $10.7M | Reduce -13.4% |
| CWCO Consolidated Water Co.-Ord SH | 0.57% | 299,750 | $10.6M | Reduce -2.6% |
| FNB FNB Corp. | 0.57% | 617,025 | $10.6M | Reduce -0.7% |
| FBK FB Financial Corp. filed as FB FINL CORP | 0.56% | 187,511 | $10.5M | Reduce -7.9% |
| CVGW Calavo Growers Inc. | 0.56% | 476,975 | $10.4M | Add +34.9% |
| CMCO Columbus McKinnon Corp. | 0.55% | 595,100 | $10.3M | Add +26.1% |
| ASTE Astec Industries Inc. | 0.54% | 229,275 | $9.9M | Reduce -1.8% |
| KMB Kimberly-Clark Corp. | 0.53% | 97,860 | $9.9M | Reduce -25.2% |
| SNN Smith & Nephew PLC -Spon ADR | 0.53% | 300,567 | $9.9M | Reduce -27.2% |
| LAMR Lamar Advertising Co. Class A | 0.53% | 77,628 | $9.8M | Reduce -0.3% |
| BRC Brady Corporation Class A | 0.52% | 122,695 | $9.6M | Reduce -8.4% |
| CTBI Community Trust Bancorp Inc. | 0.51% | 169,025 | $9.5M | No change |
| THR Thermon Group Holdings Inc. | 0.51% | 255,533 | $9.5M | Reduce -0.2% |
| AOS Smith (a.o.) Corp. | 0.51% | 141,543 | $9.5M | Reduce -9.0% |
| LTRX Lantronix Inc. | 0.51% | 1,600,000 | $9.4M | No change |
| ORI Old Republic Intl Corp. | 0.50% | 205,300 | $9.4M | Reduce -0.7% |
| NVST Envista Holdings Corp. | 0.50% | 428,997 | $9.3M | Reduce -15.9% |
| GOOGL Alphabet Inc. Class A | 0.50% | 29,731 | $9.3M | Reduce -4.6% |
| HSIC Henry Schein Inc. | 0.49% | 120,000 | $9.1M | New |
| ARMK Aramark | 0.48% | 244,177 | $9.0M | Reduce -5.3% |
| MTDR Matador Resources Co. | 0.48% | 210,179 | $8.9M | Add +23.1% |
| SEB Seaboard Corp. | 0.48% | 2,000 | $8.9M | No change |
| STC Stewart Information Services | 0.47% | 125,000 | $8.8M | No change |
| CSV Carriage Services Inc. | 0.47% | 207,300 | $8.8M | No change |
| XEL Xcel Energy Inc. | 0.47% | 118,146 | $8.7M | Reduce -3.9% |
| EG Everest Group Ltd. | 0.46% | 25,299 | $8.6M | Add +22.9% |
| FCFS Firstcash Holdings Inc. | 0.45% | 52,768 | $8.4M | Reduce -4.9% |
| ACGL Arch Capital Group Ltd. | 0.45% | 87,678 | $8.4M | Reduce -0.0% |
| DGX Quest Diagnostics Inc. | 0.45% | 48,263 | $8.4M | Reduce -3.5% |
| RPRX Royalty Pharma PLC Class A | 0.45% | 213,989 | $8.3M | Add +121.6% |
| ALEX Alexander & Baldwin Inc. | 0.44% | 400,000 | $8.3M | No change |
| STKL Sunopta Inc. | 0.44% | 2,148,050 | $8.2M | Add +72.0% |
| PKG Packaging Corp. of America | 0.43% | 39,145 | $8.1M | Add +47.6% |
| MIDD Middleby Corp. | 0.43% | 53,702 | $8.0M | Reduce -24.5% |
| LDOS Leidos Holdings Inc. | 0.42% | 43,726 | $7.9M | Reduce -32.9% |
| THG Hanover Insurance Group Inc./ | 0.42% | 42,869 | $7.8M | Reduce -0.0% |
| PRMB Primo Brands Corp. | 0.42% | 477,100 | $7.8M | Add +96.1% |
| PINE Alpine Income Property Trust | 0.42% | 464,320 | $7.8M | Reduce -32.9% |
| EGP Eastgroup Properties Inc. | 0.41% | 42,705 | $7.6M | Add +13.7% |
| NUE Nucor Corp. | 0.41% | 46,629 | $7.6M | Add +32.2% |
| HUBB Hubbell Inc. | 0.41% | 16,993 | $7.5M | Reduce -15.5% |
| IGIC International General Insura filed as INTL GNRL INSURANCE HLDNGS L | 0.41% | 300,000 | $7.5M | No change |
| LFUS Littelfuse Inc. | 0.40% | 29,450 | $7.4M | Add +9.8% |
| PRIM Primoris Services Corp. | 0.40% | 60,000 | $7.4M | Reduce -33.3% |
Portfolio Sells Q3 2025 → Q4 2025
| PRGO Perrigo Co. PLC | Reduce -79.3% | 0.17% | −1.11 |
| XRAY Dentsply Sirona Inc. | Reduce -87.7% | 0.10% | −0.78 |
| WTRG Essential Utilities Inc. | Reduce -87.6% | 0.09% | −0.68 |
| CNC Centene Corp. | Reduce -86.8% | 0.11% | −0.62 |
| LEU Centrus Energy Corp. Class A | Sold out | 0.00% | −0.45 |
| SIMO Silicon Motion Technol-ADR | Reduce -23.4% | 1.36% | −0.42 |
| PLYM Plymouth Industrial REIT Inc. | Reduce -54.2% | 0.35% | −0.42 |
| PPG PPG Industries Inc. | Reduce -63.5% | 0.21% | −0.37 |
| PBPB Potbelly Corp. | Sold out | 0.00% | −0.36 |
| KMB Kimberly-Clark Corp. | Reduce -25.2% | 0.53% | −0.33 |
| GBCI Glacier Bancorp Inc. | Reduce -19.9% | 0.88% | −0.31 |
| NSA National Storage Affiliates | Reduce -25.4% | 0.73% | −0.30 |
| ARAY Accuray Inc. | Reduce -33.4% | 0.15% | −0.29 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.29 |
| TFX Teleflex Inc. | Reduce -30.7% | 0.68% | −0.29 |
| SNN Smith & Nephew PLC -Spon ADR | Reduce -27.2% | 0.53% | −0.26 |
| PRIM Primoris Services Corp. | Reduce -33.3% | 0.40% | −0.25 |
| IP International Paper Co. | Reduce -98.6% | 0.00% | −0.23 |
| LDOS Leidos Holdings Inc. | Reduce -32.9% | 0.42% | −0.23 |
| PSA Public Storage | Reduce -8.6% | 1.13% | −0.22 |
| MHK Mohawk Industries Inc. | Reduce -4.3% | 1.03% | −0.21 |
| FIS Fidelity National Info Serv | Reduce -74.6% | 0.07% | −0.21 |
| TDY Teledyne Technologies Inc. | Reduce -2.2% | 1.38% | −0.21 |
| GTES Gates Industrial Corp. UK Ltd. | Reduce -8.7% | 0.86% | −0.21 |
| SYY Sysco Corp. | Reduce -16.4% | 0.62% | −0.19 |
| FDS Factset Research Systems Inc. | Sold out | 0.00% | −0.18 |
| BALL Ball Corp. | Reduce -35.8% | 0.40% | −0.18 |
| MTRN Materion Corp. | Reduce -36.8% | 0.34% | −0.17 |
| GNRC Generac Holdings Inc. | Reduce -40.8% | 0.16% | −0.16 |
| NTRS Northern Trust Corp. | Reduce -19.8% | 0.79% | −0.16 |
| WTW Willis Towers Watson PLC | Reduce -34.9% | 0.28% | −0.16 |
| ADT Adt Inc. | Reduce -44.2% | 0.18% | −0.16 |
| ESS Essex Property Trust Inc. | Reduce -27.9% | 0.38% | −0.15 |
| HRL Hormel Foods Corp. | Sold out | 0.00% | −0.14 |
| TEL Te Connectivity PLC | Reduce -22.7% | 0.59% | −0.13 |
| TCBI Texas Capital Bancshares Inc. | Reduce -14.9% | 1.71% | −0.13 |
| SMTC Semtech Corp. | Reduce -36.8% | 0.26% | −0.13 |
| AUDC Audiocodes Ltd. | Reduce -19.0% | 0.39% | −0.13 |
| LRCX Lam Research Corp. | Reduce -45.3% | 0.30% | −0.12 |
| NGD New Gold Inc. | Reduce -45.0% | 0.26% | −0.12 |
| LNN Lindsay Corp. | Sold out | 0.00% | −0.12 |
| ASTL Algoma Steel Group Inc. | Sold out | 0.00% | −0.11 |
| HSY The Hershey Co. | Reduce -9.3% | 0.95% | −0.11 |
| LYFT LYFT Inc. Class A | Reduce -5.2% | 0.59% | −0.10 |
| PINE Alpine Income Property Trust | Reduce -32.9% | 0.42% | −0.10 |
| DHI D.R. Horton Inc. | Reduce -1.1% | 0.60% | −0.10 |
| AOS Smith (a.o.) Corp. | Reduce -9.0% | 0.51% | −0.09 |
| RHI Robert Half Inc. | Reduce -27.0% | 0.13% | −0.09 |
| MTG Mgic Investment Corp. | Reduce -13.5% | 0.91% | −0.09 |
| FE Firstenergy Corp. | Reduce -10.9% | 0.70% | −0.09 |
Portfolio Buys Q3 2025 → Q4 2025
| COO The Cooper Cos Inc. | New | 0.83% | +0.83 |
| ITGR Integer Holdings Corp. | Add +506.8% | 1.03% | +0.81 |
| XRN Chiron Real Estate Inc. | Add +177.4% | 0.77% | +0.50 |
| HSIC Henry Schein Inc. | New | 0.49% | +0.49 |
| MOH Molina Healthcare Inc. | New | 0.38% | +0.38 |
| NEOG Neogen Corp. | New | 0.38% | +0.38 |
| VNOM Viper Energy Inc. Class A | Add +46.9% | 1.07% | +0.36 |
| ECPG Encore Capital Group Inc. | Add +10.0% | 1.13% | +0.36 |
| RNST Renasant Corp. | New | 0.36% | +0.36 |
| HUM Humana Inc. | New | 0.33% | +0.33 |
| ICHR Ichor Holdings Ltd. | New | 0.30% | +0.30 |
| KWR Quaker Chemical Corporation | Add +37.3% | 0.92% | +0.29 |
| SUI Sun Communities Inc. | New | 0.28% | +0.28 |
| WCC Wesco International Inc. | New | 0.28% | +0.28 |
| BMRC Bank of Marin Bancorp | New | 0.28% | +0.28 |
| MKTX Marketaxess Holdings Inc. | New | 0.28% | +0.28 |
| KMI Kinder Morgan Inc. | New | 0.27% | +0.27 |
| RPRX Royalty Pharma PLC Class A | Add +121.6% | 0.45% | +0.27 |
| ARCB Arcbest Corp. | New | 0.24% | +0.24 |
| CMCO Columbus McKinnon Corp. | Add +26.1% | 0.55% | +0.20 |
| TTI Tetra Technologies Inc. | New | 0.18% | +0.18 |
| BDX Becton Dickinson and Co. | Add +12.4% | 1.05% | +0.17 |
| AQN Algonquin Power & Utilities | New | 0.17% | +0.17 |
| ST Sensata Technologies Holdplc | Add +59.8% | 0.37% | +0.16 |
| COLM Columbia Sportswear Co. | Add +195.2% | 0.23% | +0.16 |
| NWE Northwestern Energy Group Inc. | Add +159.8% | 0.24% | +0.16 |
| INVX Innovex International Inc. | Add +50.0% | 0.35% | +0.16 |
| NUE Nucor Corp. | Add +32.2% | 0.41% | +0.16 |
| WH Wyndham Hotels & Resorts Inc. | New | 0.15% | +0.15 |
| ASO Academy Sports & Outdoors Inc. | Add +18.9% | 0.88% | +0.15 |
| INGR Ingredion Inc. | Add +102.6% | 0.33% | +0.15 |
| CSL Carlisle Cos Inc. | New | 0.14% | +0.14 |
| LUV Southwest Airlines Co. | Add +97.0% | 0.23% | +0.14 |
| GO Grocery Outlet Holding Corp. | Add +146.3% | 0.37% | +0.14 |
| PRMB Primo Brands Corp. | Add +96.1% | 0.42% | +0.14 |
| KEYS Keysight Technologies Inc. | New | 0.13% | +0.13 |
| PKG Packaging Corp. of America | Add +47.6% | 0.43% | +0.13 |
| ELV Elevance Health Inc. | New | 0.13% | +0.13 |
| PARK Park Dental Partners Inc. | New | 0.12% | +0.12 |
| XLP SS Consumer Staples Sel Sect | New | 0.12% | +0.12 |
| BJ Bj's Wholesale Club Holdings | Add +299.6% | 0.16% | +0.12 |
| UGI Ugi Corp. | Add +6.3% | 0.64% | +0.12 |
| NFGC New Found Gold Corp. | Add +239.6% | 0.14% | +0.11 |
| EG Everest Group Ltd. | Add +22.9% | 0.46% | +0.08 |
| ICLR Icon PLC | New | 0.08% | +0.08 |
| CVGW Calavo Growers Inc. | Add +34.9% | 0.56% | +0.08 |
| MTDR Matador Resources Co. | Add +23.1% | 0.48% | +0.08 |
| EGP Eastgroup Properties Inc. | Add +13.7% | 0.41% | +0.07 |
| XLE SS Energy Select Sector | New | 0.07% | +0.07 |
| GWRS Global Water Resources Inc. | Add +52.6% | 0.31% | +0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 244 | $2.2B | SIMO, CCS, CGAU, ECPG, TCBI |
| Q1 2026 | 244 | $2.0B | CGAU, TCBI, SIMO, ECPG, CCS |
| Q4 2025 | 253 | $1.9B | TCBI, CGAU, LINC, CCS, EGO |
| Q3 2025 | 237 | $1.9B | TCBI, SIMO, LINC, TDY, CCS |
| Q2 2025 | 213 | $1.8B | TCBI, SIMO, LINC, TDY, PSA |
| Q1 2025 | 202 | $1.7B | TCBI, TDY, MHK, PSA, NOV |
| Q4 2024 | 198 | $1.8B | TCBI, MHK, TDY, GBCI, CNC |
| Q3 2024 | 184 | $1.9B | MHK, TCBI, CNC, PSA, NOV |
| Q2 2024 | 178 | $1.8B | MHK, NOV, PRGO, DGX, TCBI |
| Q1 2024 | 175 | $1.9B | MHK, TCBI, NOV, PRGO, NTRS |