Heartland Mid Cap Value Fund Institutional Class (HNMDX)

Fund Assets	497.22M
Expense Ratio	0.85%
Min. Investment	$500,000
Turnover	72.00%
Dividend (ttm)	0.32
Dividend Yield	2.07%
Dividend Growth	-61.37%
Payout Frequency	Annual
Ex-Dividend Date	Dec 19, 2025

Previous Close	15.52
YTD Return	17.41%
1-Year Return	15.22%
5-Year Return	40.49%
52-Week Low	12.91
52-Week High	15.85
Beta (5Y)	1.20
Holdings	63
Inception Date	Oct 31, 2014

About HNMDX

Heartland Mid Cap Value Fund Institutional Class is an actively managed mutual fund that targets mid-sized U.S. companies exhibiting value characteristics. Its primary objective is long-term capital appreciation, achieved by investing in a diversified portfolio of 40–60 holdings, focusing on mid-cap firms that pay dividends and are considered undervalued based on fundamental analysis. The fund employs a dual-basket approach—combining traditional value stocks with deep value opportunities—to help reduce the impact of market cyclicality and enhance consistency in returns relative to the Russell Midcap® Value Index benchmark. Stock selection is guided by rigorous research, utilizing targeted catalysts to unlock shareholder value, and is the fund’s main driver of performance. The Institutional Class maintains a competitive expense ratio, capped at 0.85% through at least April 2026, and requires a substantial initial investment. The fund plays a significant role in providing institutional investors with efficient access to the mid-cap value segment, and is recognized for its disciplined process and seasoned management, offering diversification across sectors vital to the U.S. economy including industrials, healthcare, and consumer goods.

• Fund Family: Heartland
• Category: Mid-Cap Value
• Performance Rating: Below Average
• Risk Rating: Average
• Stock Exchange: NASDAQ
• Ticker Symbol: HNMDX
• Share Class: Institutional Class
• Index: Russell MidCap Value CR

Performance

HNMDX had a total return of 15.22% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.22%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
HRMDX	Investor Class	1.10%

Top 10 Holdings

31.17% of assets

Name	Symbol	Weight
Teledyne Technologies Incorporated	TDY	4.45%
EOG Resources, Inc.	EOG	4.22%
Public Storage	PSA	3.44%
Exelon Corporation	EXC	3.31%
Becton, Dickinson and Company	BDX	3.16%
J.B. Hunt Transport Services, Inc.	JBHT	2.79%
NOV Inc.	NOV	2.73%
MarketAxess Holdings Inc.	MKTX	2.66%
Keysight Technologies, Inc.	KEYS	2.31%
Bbh Repo 2.98 08/03/2026	n/a	2.09%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 19, 2025	$0.32328	Dec 19, 2025
Dec 20, 2024	$0.83679	Dec 20, 2024
Dec 27, 2023	$0.29834	Dec 27, 2023
Dec 28, 2022	$0.70517	Dec 28, 2022
Dec 29, 2021	$3.26605	Dec 29, 2021
Dec 29, 2020	$0.06968	Dec 29, 2020

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Aug 27, 2026

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