Advantage Energy, Ltd.

NPORT-P false 0000809586 XXXXXXXX S000003523 C000009765 C000063871 HEARTLAND GROUP INC. 811-04982 0000809586 549300TJI5TPMVIHYH92 790 N. WATER STREET SUITE 1200 MILWAUKEE 53202 4143477777 Heartland Value Fund S000003523 549300HFL14M3BD6SU47 2026-12-31 2026-03-31 N 975247394.04 2220708.50 973026685.54 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 6967842.32000000 N Advantage Energy Ltd 549300WK5YRPOB2DTT64 Advantage Energy, Ltd. 00791P107 1700000.00000000 NS 13723671.91000000 1.410410640730 Long EC CORP CA N 1 N N N Adtran Holdings Inc 549300VV36J86CRRWF77 ADTRAN Holdings, Inc. 00486H105 750000.00000000 NS USD 9435000.00000000 0.969654803944 Long EC CORP US N 1 N N N Allegiant Travel Co 549300JM9OZXOHWL2K18 Allegiant Travel Co. 01748X102 165000.00000000 NS USD 13371600.00000000 1.374227469679 Long EC CORP US N 1 N N N Algonquin Power & Utilities Corp 549300K5VIUTJXQL7X75 Algonquin Power & Utilities Corp. 015857105 1150000.00000000 NS USD 7061000.00000000 0.725673828367 Long EC CORP CA N 1 N N N Arcbest Corp 5493006S3KBNE8ZS3J23 ArcBest Corp. 03937C105 110000.00000000 NS USD 10819600.00000000 1.111953059539 Long EC CORP US N 1 N N N Associated Banc-corp 549300N3CIN473IW5094 Associated Banc-Corp 045487105 400000.00000000 NS USD 10344000.00000000 1.063074646740 Long EC CORP US N 1 N N N Academy Sports & Outdoors Inc 529900HST589BD301M91 Academy Sports & Outdoors, Inc. 00402L107 175000.00000000 NS USD 9878750.00000000 1.015259925221 Long EC CORP US N 1 N N N Astec Industries Inc 5493002DO2QKHLKB2A48 Astec Industries, Inc. 046224101 175000.00000000 NS USD 9422000.00000000 0.968318766588 Long EC CORP US N 1 N N N Audiocodes Ltd 529900TA48138NEVR854 AudioCodes, Ltd. M15342104 651584.00000000 NS USD 5479821.44000000 0.563172780503 Long EC CORP IL N 1 N N N Barrett Business Services Inc 529900HXB6TMG0SR9Y34 Barrett Business Services, Inc. 068463108 450000.00000000 NS USD 13131000.00000000 1.349500501387 Long EC CORP US N 1 N N N Birchtech Corp 5299002L7VCQITU0A113 Birchtech Corp. 59833H200 1000000.00000000 NS USD 1900000.00000000 0.195266998144 Long EC CORP US N 1 N N N Benchmark Electronics Inc 549300W18RHYZOZKOP53 Benchmark Electronics, Inc. 08160H101 100000.00000000 NS USD 5606000.00000000 0.576140416630 Long EC CORP US N 1 N N N Bank Of Marin Bancorp N/A Bank of Marin Bancorp 063425102 250000.00000000 NS USD 6407500.00000000 0.658512258216 Long EC CORP US N 1 N N N Bluelinx Holdings Inc 549300YSX7GU28F5I540 BlueLinx Holdings, Inc. 09624H208 92075.00000000 NS USD 4988623.50000000 0.512691334588 Long EC CORP US N 1 N N N Cass Information Systems Inc 549300G7XPIPR7SJ2F38 Cass Information Systems, Inc. 14808P109 345682.00000000 NS USD 15216921.64000000 1.563875057707 Long EC CORP US N 1 N N N Capital City Bank Group Inc 254900NVLVUJQZKTQE82 Capital City Bank Group, Inc. 139674105 500000.00000000 NS USD 21730000.00000000 2.233237826148 Long EC CORP US N 1 N N N Century Communities Inc 5299002QMB2O7ZL1CA26 Century Communities, Inc. 156504300 275000.00000000 NS USD 15779500.00000000 1.621692419591 Long EC CORP US N 1 N N N Centerra Gold Inc 549300K0HXTMP5JJ0E62 Centerra Gold, Inc. 152006102 1800000.00000000 NS USD 32022000.00000000 3.290968323466 Long EC CORP CA N 1 N N N Choice Hotels International Inc 5493003CYRY5RFGTIR97 Choice Hotels International, Inc. 169905106 55000.00000000 NS USD 5692500.00000000 0.585030203651 Long EC CORP US N 1 N N N Core Laboratories Inc 984500040P5J07V43135 Core Laboratories, Inc. 21867A105 150000.00000000 NS USD 2518500.00000000 0.258831544645 Long EC CORP US N 1 N N N Columbus Mckinnon Corp/ny 549300W3HQB0HO1F3G69 Columbus McKinnon Corp. 199333105 500000.00000000 NS USD 7265000.00000000 0.746639337642 Long EC CORP US N 1 N N N Columbia Sportswear Co 549300OTMCIEUXAH5Z60 Columbia Sportswear Co. 198516106 160000.00000000 NS USD 8769600.00000000 0.901270245752 Long EC CORP US N 1 N N N Carriage Services Inc N/A Carriage Services, Inc. 143905107 207300.00000000 NS USD 9465318.00000000 0.972770648602 Long EC CORP US N 1 N N N Community Trust Bancorp Inc N/A Community Trust Bancorp, Inc. 204149108 150000.00000000 NS USD 9108000.00000000 0.936048325842 Long EC CORP US N 1 N N N Custom Truck One Source Inc 2549008QOVAS9KBZ4E50 Custom Truck One Source, Inc. 23204X103 1000000.00000000 NS USD 6570000.00000000 0.675212725163 Long EC CORP US N 1 N N N Customers Bancorp Inc 549300WLBCHYKZ53FN68 Customers Bancorp, Inc. 23204G100 150000.00000000 NS USD 10411500.00000000 1.070011763780 Long EC CORP US N 1 N N N Calavo Growers Inc N/A Calavo Growers, Inc. 128246105 400000.00000000 NS USD 10316000.00000000 1.060197027820 Long EC CORP US N 1 N N N Consolidated Water Co Ltd 5299001BMEW8X9VIJA73 Consolidated Water Co., Ltd. G23773107 225000.00000000 NS USD 7452000.00000000 0.765857721144 Long EC CORP KY N 1 N N N Doubledown Interactive Co Ltd 549300QDTNGJYJ49CP60 DoubleDown Interactive Co., Ltd. 25862B109 400000.00000000 NS USD 3380000.00000000 0.347369712488 Long EC CORP KR N 1 N N N Dnow Inc 549300AVH5SOCFVVDW91 DNOW, Inc. 67011P100 550000.00000000 NS USD 6550500.00000000 0.673208669129 Long EC CORP US N 1 N N N Encore Capital Group Inc 5493000UVC6H49CIH830 Encore Capital Group, Inc. 292554102 300000.00000000 NS USD 21036000.00000000 2.161913985773 Long EC CORP US N 1 N N N Eldorado Gold Corp 5493004PWQ01YDD1IH62 Eldorado Gold Corp. 284902509 600000.00000000 NS USD 20598000.00000000 2.116899804096 Long EC CORP CA N 1 N N N Evertec Inc N/A EVERTEC, Inc. 30040P103 250000.00000000 NS USD 7055000.00000000 0.725057195742 Long EC CORP PR N 1 N N N Ezcorp Inc 5493003K6PG3ZQ7TUQ63 Ezcorp, Inc. 302301106 700000.00000000 NS USD 17766000.00000000 1.825849204756 Long EC CORP US N 1 N N N Forestar Group Inc 549300BC2UB0GHV60V70 Forestar Group, Inc. 346232101 400000.00000000 NS USD 9776000.00000000 1.004700091506 Long EC CORP US N 1 N N N Glacier Bancorp Inc 549300SMJAUKZB5D7V74 Glacier Bancorp, Inc. 37637Q105 200000.00000000 NS USD 8934000.00000000 0.918165979696 Long EC CORP US N 1 N N N Grocery Outlet Holding Corp N/A Grocery Outlet Holding Corp. 39874R101 300000.00000000 NS USD 2115000.00000000 0.217363000566 Long EC CORP US N 1 N N N Gates Industrial Corp Plc 549300S6K4FWUSB9KM27 Gates Industrial Corp. PLC G39108108 400000.00000000 NS USD 9044000.00000000 0.929470911168 Long EC CORP GB N 1 N N N Getty Realty Corp 2549000P1W5SFJWCNP90 Getty Realty Corp. 374297109 350000.00000000 NS USD 11130000.00000000 1.143853520710 Long EC CORP US N 1 N N N Global Water Resources Inc N/A Global Water Resources, Inc. 379463102 450000.00000000 NS USD 3415500.00000000 0.351018122191 Long EC CORP US N 1 N N N Haemonetics Corp 549300ZEL6TXZS6F5F95 Haemonetics Corp. 405024100 85000.00000000 NS USD 4790600.00000000 0.492340042795 Long EC CORP US N 1 N N N Heritage Financial Corp/wa N/A Heritage Financial Corp. 42722X106 275000.00000000 NS USD 7150000.00000000 0.734820545649 Long EC CORP US N 1 N N N Bsr Real Estate Investment Trust 254900JO0IGNDM4G5Q74 BSR Real Estate Investment Trust 05585D103 1300000.00000000 NS 14335418.01000000 1.473281074716 Long EC CORP CA N 1 N N N Henry Schein Inc VGO3WGL8H45T73F4RR92 Henry Schein, Inc. 806407102 120000.00000000 NS USD 8844000.00000000 0.908916490311 Long EC CORP US N 1 N N N Hexcel Corp S6Q7LW43WUBUHXY2QP69 Hexcel Corp. 428291108 125000.00000000 NS USD 10116250.00000000 1.039668299989 Long EC CORP US N 1 N N N Ichor Holdings Ltd 529900PS8R2JVLJ2H892 Ichor Holdings, Ltd. G4740B105 200000.00000000 NS USD 9322000.00000000 0.958041556160 Long EC CORP KY N 1 N N N International General Insurance Holdings Ltd N/A International General Insurance Holdings, Ltd. G4809J106 300000.00000000 NS USD 7267500.00000000 0.746896267903 Long EC CORP BM N 1 N N N I3 Verticals Inc 549300944CYWVP06CJ97 I3 Verticals, Inc. 46571Y107 500000.00000000 NS USD 11180000.00000000 1.148992125924 Long EC CORP US N 1 N N N First Internet Bancorp 549300T25MP2M92XU194 First Internet Bancorp 320557101 240000.00000000 NS USD 4891200.00000000 0.502678916486 Long EC CORP US N 1 N N N Infusystem Holdings Inc 549300F58N8PHJ4QUI59 InfuSystem Holdings, Inc. 45685K102 510000.00000000 NS USD 4707300.00000000 0.483779126508 Long EC CORP US N 1 N N N Innovex International Inc 5299007REICYIJNMW197 Innovex International, Inc. 457651107 300000.00000000 NS USD 7317000.00000000 0.751983487065 Long EC CORP US N 1 N N N Integer Holdings Corp 549300SUD2ED5XG6X569 Integer Holdings Corp. 45826H109 175000.00000000 NS USD 15400000.00000000 1.582690406014 Long EC CORP US N 1 N N N John B Sanfilippo & Son Inc 5299007IBEYVXKYDUX28 John B Sanfilippo & Son, Inc. 800422107 70000.00000000 NS USD 5553100.00000000 0.570703772314 Long EC CORP US N 1 N N N Knife River Corp N/A Knife River Corp. 498894104 60000.00000000 NS USD 4899000.00000000 0.503480538900 Long EC CORP US N 1 N N N Quaker Chemical Corp 549300PJQ1R3WCWCPS54 Quaker Chemical Corp. 747316107 85000.00000000 NS USD 10559550.00000000 1.085227173819 Long EC CORP US N 1 N N N Lincoln Educational Services Corp 549300BJ55KUY6RG7L98 Lincoln Educational Services Corp. 533535100 357265.00000000 NS USD 14533540.20000000 1.493642509088 Long EC CORP US N 1 N N N Linamar Corp 549300LW6VIYFRMFBU20 Linamar Corp. 53278L107 140000.00000000 NS 8672129.97000000 0.891253045664 Long EC CORP CA N 1 N N N Lantronix Inc N/A Lantronix, Inc. 516548203 900000.00000000 NS USD 4716000.00000000 0.484673243815 Long EC CORP US N 1 N N N Lxp Industrial Trust 549300S4MH2ICXDBFV43 LXP Industrial Trust 529043408 200000.00000000 NS USD 9252000.00000000 0.950847508859 Long EC CORP US N 1 N N N Lyft Inc 549300H7I5VN334XVZ52 Lyft, Inc. 55087P104 500000.00000000 NS USD 6650000.00000000 0.683434493506 Long EC CORP US N 1 N N N Marcus Corp/the 549300NL0OKPNEMP6B79 Marcus Corp. 566330106 255000.00000000 NS USD 4378350.00000000 0.449972242803 Long EC CORP US N 1 N N N Major Drilling Group International Inc 549300O1MNHCX2FUBC21 Major Drilling Group International, Inc. 560909103 750000.00000000 NS 8637049.82000000 0.887647784829 Long EC CORP CA N 1 N N N Magnolia Oil & Gas Corp N/A Magnolia Oil & Gas Corp. 559663109 400000.00000000 NS USD 12628000.00000000 1.297806132931 Long EC CORP US N 1 N N N Mohawk Industries Inc 549300JI1115MG3Q6322 Mohawk Industries, Inc. 608190104 100000.00000000 NS USD 9846000.00000000 1.011894138806 Long EC CORP US N 1 N N N Miller Industries Inc/tn 549300F1O74SPUJ7UU94 Miller Industries, Inc. 600551204 120000.00000000 NS USD 5466000.00000000 0.561752322030 Long EC CORP US N 1 N N N Marten Transport Ltd N/A Marten Transport, Ltd. 573075108 350000.00000000 NS USD 4595500.00000000 0.472289205249 Long EC CORP US N 1 N N N Mgic Investment Corp 254900S8483WM4M98R28 MGIC Investment Corp. 552848103 450000.00000000 NS USD 11812500.00000000 1.213995481885 Long EC CORP US N 1 N N N Neogen Corp 549300HJT9FC36N4UW43 Neogen Corp. 640491106 1000000.00000000 NS USD 9290000.00000000 0.954752848822 Long EC CORP US N 1 N N N Nicolet Bankshares Inc N/A Nicolet Bankshares, Inc. 65406E102 55758.00000000 NS USD 8286753.96000000 0.851647142174 Long EC CORP US N 1 N N N National Research Corp 549300FQIORB6GZCYT15 National Research Corp. 637372202 237147.00000000 NS USD 4026756.06000000 0.413838193735 Long EC CORP US N 1 N N N National Storage Affiliates Trust 529900FS06O8GOYNR108 National Storage Affiliates Trust 637870106 200000.00000000 NS USD 7548000.00000000 0.775723843155 Long EC CORP US N 1 N N N Nwpx Infrastructure Inc 54930056VW2CRCZ9RE54 NWPX Infrastructure, Inc. 667746101 200000.00000000 NS USD 15572000.00000000 1.600367207951 Long EC CORP US N 1 N N N Oxford Industries Inc IDZ20O0XD3GS4UOI2L88 Oxford Industries, Inc. 691497309 168613.00000000 NS USD 6493286.63000000 0.667328730701 Long EC CORP US N 1 N N N Park Dental Partners Inc 529900JGYNTREBZJHT94 Park Dental Partners, Inc. 700402100 189539.00000000 NS USD 3180464.42000000 0.326863021052 Long EC CORP US N 1 N N N Pure Cycle Corp N/A Pure Cycle Corp. 746228303 627264.00000000 NS USD 6310275.84000000 0.648520326705 Long EC CORP US N 1 N N N Perma-fix Environmental Services Inc 54930015OVD1T5P12U15 Perma-Fix Environmental Services, Inc. 714157203 400000.00000000 NS USD 4276000.00000000 0.439453517929 Long EC CORP US N 1 N N N Phinia Inc 254900HG6MORZE1FFM18 Phinia, Inc. 71880K101 150000.00000000 NS USD 10266000.00000000 1.055058422606 Long EC CORP US N 1 N N N Alpine Income Property Trust Inc 254900VQGUBS1J4C4N33 Alpine Income Property Trust, Inc. 02083X103 321920.00000000 NS USD 5794560.00000000 0.595519124615 Long EC CORP US N 1 N N N Photronics Inc 549300OK5JVNIBNY6F63 Photronics, Inc. 719405102 300000.00000000 NS USD 12123000.00000000 1.245906220266 Long EC CORP US N 1 N N N Primoris Services Corp 549300UF3OLBJ8D5K349 Primoris Services Corp. 74164F103 60000.00000000 NS USD 8582400.00000000 0.882031307829 Long EC CORP US N 1 N N N Primo Brands Corp 254900J0WS4AXV2LAX55 Primo Brands Corp. 741623102 450000.00000000 NS USD 8473500.00000000 0.870839425672 Long EC CORP US N 1 N N N Papa John's International Inc HZYLD3DK5XOX0WBVNB56 Papa John's International, Inc. 698813102 175000.00000000 NS USD 5671750.00000000 0.582897682487 Long EC CORP US N 1 N N N Quinstreet Inc 549300TP8MFBFPOS4Y78 QuinStreet, Inc. 74874Q100 500000.00000000 NS USD 6005000.00000000 0.617146486241 Long EC CORP US N 1 N N N Quad/graphics Inc W2D68G5NJH4X0NW8PT65 Quad/Graphics, Inc. 747301109 300000.00000000 NS USD 1983000.00000000 0.203797082800 Long EC CORP US N 1 N N N Rh 5493008MTS3OGGMHGK69 RH 74967X103 35000.00000000 NS USD 4893700.00000000 0.502935846747 Long EC CORP US N 1 N N N Sonic Automotive Inc 549300NTLRGJ2JCBZU03 Sonic Automotive, Inc. (Class A) 83545G102 85000.00000000 NS USD 5828450.00000000 0.599002071229 Long EC CORP US N 1 N N N Sanmina Corp X5K24XLM8QYRXF00EB42 Sanmina Corp. 801056102 40000.00000000 NS USD 5185600.00000000 0.532935023988 Long EC CORP US N 1 N N N Seacoast Banking Corp Of Florida 549300V6IC06XYQYPG88 Seacoast Banking Corp. of Florida 811707801 300000.00000000 NS USD 9087000.00000000 0.933890111652 Long EC CORP US N 1 N N N Seaboard Corp 87Q3KOXT29OW9W9YPT70 Seaboard Corp. 811543107 1000.00000000 NS USD 5654020.00000000 0.581075533078 Long EC CORP US N 1 N N N Shoals Technologies Group Inc N/A Shoals Technologies Group, Inc. 82489W107 1054175.00000000 NS USD 6936471.50000000 0.712875772379 Long EC CORP US N 1 N N N Silicon Motion Technology Corp 5299005RBVBZQJTYFC89 Silicon Motion Technology Corp. (ADR) 82706C108 190000.00000000 NS USD 21335100.00000000 2.192653122165 Long EC CORP KY N 1 N N N Synergy Chc Corp N/A Synergy CHC Corp. 87165D208 550000.00000000 NS USD 709500.00000000 0.072916807991 Long EC CORP US N 1 N N N Sonoco Products Co GKOMIK4RDJGHEF0VNP11 Sonoco Products Co. 835495102 100000.00000000 NS USD 5409000.00000000 0.555894312086 Long EC CORP US N 1 N N N Sensata Technologies Holding Plc 529900MS7KFYCY9MS037 Sensata Technologies Holding PLC G8060N102 175000.00000000 NS USD 6163500.00000000 0.633435864770 Long EC CORP GB N 1 N N N Stewart Information Services Corp 529900TV1XI0PLKENU10 Stewart Information Services Corp. 860372101 125000.00000000 NS USD 7697500.00000000 0.791088272746 Long EC CORP US N 1 N N N Sunopta Inc 54930010CP0KEPPRPA40 SunOpta, Inc. 8676EP108 1000000.00000000 NS USD 6480000.00000000 0.665963235777 Long EC CORP CA N 1 N N N Texas Capital Bancshares Inc 549300466Q2SXRX0YM48 Texas Capital Bancshares, Inc. 88224Q107 275000.00000000 NS USD 26092000.00000000 2.681529745046 Long EC CORP US N 1 N N N Trico Bancshares N/A TriCo Bancshares 896095106 250000.00000000 NS USD 11885000.00000000 1.221446459446 Long EC CORP US N 1 N N N Teleflex Inc UUL85LWXB4NGSWWXIQ25 Teleflex, Inc. 879369106 191073.00000000 NS USD 22854241.53000000 2.348778493913 Long EC CORP US N 1 N N N Thor Industries Inc 254900XZO1228PDSG060 Thor Industries, Inc. 885160101 60000.00000000 NS USD 4793400.00000000 0.492627804687 Long EC CORP US N 1 N N N Tiptree Inc 254900EH52HA4YXENT37 Tiptree, Inc. 88822Q103 400000.00000000 NS USD 6768000.00000000 0.695561601811 Long EC CORP US N 1 N N N Tetra Technologies Inc 549300T5W131705EK832 TETRA Technologies, Inc. 88162F105 300000.00000000 NS USD 2556000.00000000 0.262685498556 Long EC CORP US N 1 N N N Unitil Corp N/A Unitil Corp. 913259107 150000.00000000 NS USD 7836000.00000000 0.805322209190 Long EC CORP US N 1 N N N Viper Energy Inc 5299009LINL232255G03 Viper Energy, Inc. 64361Q101 450000.00000000 NS USD 21145500.00000000 2.173167531193 Long EC CORP US N 1 N N N Dentsply Sirona Inc 9NHEHR1SOZCYXDO8HO28 DENTSPLY SIRONA, Inc. 24906P109 600000.00000000 NS USD 6960000.00000000 0.715293845835 Long EC CORP US N 1 N N N Chiron Real Estate Inc 549300HFRIPQDYU3GU60 Chiron Real Estate, Inc. 37954A303 400000.00000000 NS USD 13232000.00000000 1.359880483920 Long EC CORP US N 1 N N N 2026-04-30 HEARTLAND GROUP INC. Nicole Best Nicole Best Chief Financial Officer and Chief Administrative XXXX