Heartland Advisors, an investment management company, released its second-quarter 2026 investor letter for the "Heartland Value Plus Fund". A copy of the letter can be downloaded here. Small-cap stocks rose in the second quarter, with the Russell 2000® Index increasing 21.49%, outpacing the 15.20% gain for the S&P 500 Index. The artificial intelligence trade continues to be a key theme in the market. Small-cap value is benefiting from a strengthening economic environment. The Value Plus Fund rose 19.25% in the second quarter, compared with the 17.19% return for the Russell 2000 Value Index, driven by strong gains from Materials, Energy, and Real Estate holdings. 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 Plus Fund highlighted Century Communities, Inc. (NYSE:CCS). Headquartered in Greenwood Village, Colorado, Century Communities, Inc. (NYSE:CCS) is a single-family attached and detached home builder. On July 14, 2026, Century Communities, Inc. (NYSE:CCS) closed at $65.28 per share, reflecting a market capitalization of $1.88 billion. Century Communities, Inc. (NYSE:CCS) posted a one-month return of 9.00%, while its shares gained 9.99% over the past 52 weeks.
Heartland Value Plus Fund stated the following regarding Century Communities, Inc. (NYSE:CCS) in its Q2 2026 investor update:
"Another non-AI holding is Century Communities, Inc. (NYSE:CCS), a Denver-based builder of single-family homes predominantly in the West, Southwest, Mountain states, and Southeast. High mortgage rates and concerns about home affordability have kept demand for new houses tempered. As a result of the poor sentiment, CCS shares are trading at less than 1X book value— 0.81X to be exact.
We do not know when demand for housing will pick up or what will happen with interest rates. What we do know is that these historically low valuation levels are attracting patient, long-term capital, resulting in multiple take-outs in the ***** e in the past six months. Berkshire Hathaway, for instance, recently acquired public homebuilder Taylor Morrison at 1.1X book value, and the ***** anese conglomerate Sumitomo acquired Tri Pointe Homes for 1.2X book value.
In its Q2 2026 investor letter, Heartland Value Plus Fund highlighted Century Communities, Inc. (NYSE:CCS). Headquartered in Greenwood Village, Colorado, Century Communities, Inc. (NYSE:CCS) is a single-family attached and detached home builder. On July 14, 2026, Century Communities, Inc. (NYSE:CCS) closed at $65.28 per share, reflecting a market capitalization of $1.88 billion. Century Communities, Inc. (NYSE:CCS) posted a one-month return of 9.00%, while its shares gained 9.99% over the past 52 weeks.
Heartland Value Plus Fund stated the following regarding Century Communities, Inc. (NYSE:CCS) in its Q2 2026 investor update:
"Another non-AI holding is Century Communities, Inc. (NYSE:CCS), a Denver-based builder of single-family homes predominantly in the West, Southwest, Mountain states, and Southeast. High mortgage rates and concerns about home affordability have kept demand for new houses tempered. As a result of the poor sentiment, CCS shares are trading at less than 1X book value— 0.81X to be exact.
We do not know when demand for housing will pick up or what will happen with interest rates. What we do know is that these historically low valuation levels are attracting patient, long-term capital, resulting in multiple take-outs in the ***** e in the past six months. Berkshire Hathaway, for instance, recently acquired public homebuilder Taylor Morrison at 1.1X book value, and the ***** anese conglomerate Sumitomo acquired Tri Pointe Homes for 1.2X book value.
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