Heartland Advisors, an funding administration firm, launched its “Heartland Worth Fund” third-quarter 2025 investor letter. A duplicate of the letter may be downloaded right here. Small-cap firms began to rebound within the quarter, with the Heartland Worth Fund gaining 10.04% in comparison with a 12.60% return for the Russell 2000® Worth Index. As well as, you may verify the fund’s prime 5 holdings to find out its finest picks for 2025.
In its third-quarter 2025 investor letter, Heartland Worth Fund highlighted shares reminiscent of Potbelly Company (NASDAQ:PBPB). Potbelly Company (NASDAQ:PBPB) owns and operates Potbelly sandwich eating places. The one-month return of Potbelly Company (NASDAQ:PBPB) was 0.35%, and its shares gained 108.42% of their worth over the past 52 weeks. On October 10, 2025, Potbelly Company (NASDAQ:PBPB) inventory closed at $17.07 per share, with a market capitalization of $516.448 million.
Heartland Worth Fund acknowledged the next relating to Potbelly Company (NASDAQ:PBPB) in its third quarter 2025 investor letter:
“As worth buyers in a richly priced fairness market that’s dominated by passivity and buyers’ love affair with AI, we’re in a position, remarkably, to uncover strong companies priced at engaging valuations. Many are leaders of their respective industries, ignored by the momentum crowd. Our focus stays on the ten Rules of Worth Investing™, which have stood the check of time. If this may be bolstered by macro tailwinds, all the higher. However the funding course of begins with basically pushed, bottoms-up inventory analysis.