Heartland Advisors, an investment management company, released its second-quarter 2026 investor letter for "Heartland Value Fund". A copy of the letter can be downloaded here. The AI trend continues to drive the market in the quarter. Small-cap stocks continue to outperform, with the Russell 2000® Index rising 21.49% in the quarter. The Heartland Value Fund gained 17.05% in the quarter, compared with the 17.19% return for the Russell 2000® Value Index. 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 Value Fund highlighted Photronics, Inc. (NASDAQ:PLAB). Based in Brookfield, Connecticut, Photronics, Inc. (NASDAQ:PLAB) is a US-based technology company that engages in the business of photomask products and services. On July 14, 2026, Photronics, Inc. (NASDAQ:PLAB) closed at $29.47 per share, reflecting a market capitalization of $1.73 billion. Photronics, Inc. (NASDAQ:PLAB) posted a one-month return of -4.97%, while its shares gained 53.73% over the past 52 weeks.
Heartland Value Fund stated the following regarding Photronics, Inc. (NASDAQ:PLAB) in its Q2 2026 investor update:
At the same time, we've been finding plenty of segments of the market where the AI herd hasn't been roaming. In the second quarter, we added to 51 of our existing positions across numerous sectors, including Energy, Financials, Health Care, Communications, Real Estate, and Industrials. When we do buy, we're not simply deploying flows or chasing parts of the market that are making new highs. We are adding exposure in securities that we believe are attractively priced and still represent a good risk/reward balance.
A good example is Photronics, Inc. (NASDAQ:PLAB). Earlier this year, we reduced our stake in PLAB, a leading manufacturer of photomasks that are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication process. The shares more than doubled from December to May, and we felt the stock was getting caught up in the mania surrounding the AI buildout, so we took some money off the table as it reached our price target..." (Click here to read the full text)
In its Q2 2026 investor letter, Heartland Value Fund highlighted Photronics, Inc. (NASDAQ:PLAB). Based in Brookfield, Connecticut, Photronics, Inc. (NASDAQ:PLAB) is a US-based technology company that engages in the business of photomask products and services. On July 14, 2026, Photronics, Inc. (NASDAQ:PLAB) closed at $29.47 per share, reflecting a market capitalization of $1.73 billion. Photronics, Inc. (NASDAQ:PLAB) posted a one-month return of -4.97%, while its shares gained 53.73% over the past 52 weeks.
Heartland Value Fund stated the following regarding Photronics, Inc. (NASDAQ:PLAB) in its Q2 2026 investor update:
At the same time, we've been finding plenty of segments of the market where the AI herd hasn't been roaming. In the second quarter, we added to 51 of our existing positions across numerous sectors, including Energy, Financials, Health Care, Communications, Real Estate, and Industrials. When we do buy, we're not simply deploying flows or chasing parts of the market that are making new highs. We are adding exposure in securities that we believe are attractively priced and still represent a good risk/reward balance.
A good example is Photronics, Inc. (NASDAQ:PLAB). Earlier this year, we reduced our stake in PLAB, a leading manufacturer of photomasks that are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication process. The shares more than doubled from December to May, and we felt the stock was getting caught up in the mania surrounding the AI buildout, so we took some money off the table as it reached our price target..." (Click here to read the full text)
13 days ago
