Heartland's 3Q24 Value Plus Commentary

In this episode, Michael Kops, Vice President at Heartland Advisors, is joined by Andy Fleming, Portfolio Manager for the Heartland Value Plus Strategy.

They discuss the concept of "green shoots" in the market, highlighting companies that are improving post self-help initiatives. Andy emphasizes the importance of investing in companies with robust capital allocation policies, using Gates Industrial (GTES) and Hayward Holdings (HAYW) as prime examples of successful self-help stories leading to improved margins.

Despite some challenges in stock selection, the strategy saw gains in consumer discretionary, industrials, and materials. The episode concludes with a positive outlook on companies enhancing their financial and operational strength, while setting a promising tone for the future.