# EDGAR Filing Document

**Accession Number:** 0000809586
**File Stem:** 0001752724-23-029358
**Filing Date:** 2023-2
**Character Count:** 32374
**Document Hash:** af1f27dbe47e17d093c70bc88de24ca0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-029358.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001752724-23-029358

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HEARTLAND GROUP INC
- **CENTRAL INDEX KEY:** 0000809586
- **IRS NUMBER:** 391572323
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04982
- **FILM NUMBER:** 23643002

**BUSINESS ADDRESS:**
- **STREET 1:** 790 N. WATER STREET
- **STREET 2:** SUITE 1200
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4149778748

**MAIL ADDRESS:**
- **STREET 1:** 790 N. WATER STREET
- **STREET 2:** SUITE 1200
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### HEARTLAND VALUE FUND (Series ID: S000003523)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000009765 | Investor Class      | HRTVX           |
| C000063871 | Institutional Class | HNTVX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** HEARTLAND GROUP INC.

- **b. Investment Company Act file number:** 811-04982

- **c. CIK number of Registrant:** 0000809586

- **d. LEI of Registrant:** 549300TJI5TPMVIHYH92

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 790 N. WATER STREET SUITE 1200

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 4143477777

**Item A.2. Information about the Series.**

- **a. Name of Series:** Heartland Value Fund

- **b. EDGAR series identifier (if any):** S000003523

- **c. LEI of Series:** 549300HFL14M3BD6SU47

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $641429853.50

**Total Liabilities:** $353891.76

**Net Assets:** $641075961.74

**Cash Not Reported:** $3101965.50

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009765 | 10.00%               | 3.66%                | -4.09%               |
| Class ID C000063871 | 10.00%               | 3.67%                | -4.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15365381.50            | $75309147.71                               |
| Month 2  | $-31290.97               | $22655408.21                               |
| Month 3  | $-1411918.13             | $-26767284.15                              |

### Schedule of Portfolio Investments

| Name                                         | Title                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Cantaloupe Inc                               | Cantaloupe, Inc.                               | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Long             | EC               | CORP              | US        |    800000 | NS      | $3480000.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Perma-fix Environmental Services Inc         | Perma-Fix Environmental Services, Inc.         | CUSIP: 714157203<br>LEI: 54930015OVD1T5P12U15 | Long             | EC               | CORP              | US        |    837000 | NS      | $2954610.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Twin Disc Inc                                | Twin Disc, Inc.                                | CUSIP: 901476101<br>LEI: 549300FR8EHCY14BLP32 | Long             | EC               | CORP              | US        |    400000 | NS      | $3888000.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bsr Real Estate Investment Trust             | BSR Real Estate Investment Trust               | CUSIP: N/A<br>LEI: 254900JO0IGNDM4G5Q74       | Long             | EC               | CORP              | CA        |    330300 | NS      | $4332443.13   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Hf Sinclair Corp                             | HF Sinclair Corp.                              | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    250000 | NS      | $12972500.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Marten Transport Ltd                         | Marten Transport, Ltd.                         | CUSIP: 573075108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $2967000.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                               | Photronics, Inc.                               | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |    500000 | NS      | $8415000.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc                            | Centerra Gold, Inc.                            | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |   1700000 | NS      | $8806000.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvard Bioscience Inc                       | Harvard Bioscience, Inc.                       | CUSIP: 416906105<br>LEI: 549300VLGB1D47GGC642 | Long             | EC               | CORP              | US        |   1114399 | NS      | $3086885.23   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cowen Inc                                    | Cowen, Inc.                                    | CUSIP: 223622606<br>LEI: 5493008QI0EFC5WBED75 | Long             | EC               | CORP              | US        |    500000 | NS      | $19310000.00  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Denbury Inc                                  | Denbury, Inc.                                  | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |    100000 | NS      | $8702000.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Evertec Inc                                  | EVERTEC, Inc.                                  | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |    200000 | NS      | $6476000.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Trico Bancshares                             | TriCo Bancshares                               | CUSIP: 896095106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $10198000.00  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Mdu Resources Group Inc                      | MDU Resources Group, Inc.                      | CUSIP: 552690109<br>LEI: 0T6SBMK3JTBI1JR36794 | Long             | EC               | CORP              | US        |    400000 | NS      | $12136000.00  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Pipe Co                            | Northwest Pipe Co.                             | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |    395000 | NS      | $13311500.00  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Accuray Inc                                  | Accuray, Inc.                                  | CUSIP: 004397105<br>LEI: 549300G28LY4TZKZJG51 | Long             | EC               | CORP              | US        |   2000000 | NS      | $4180000.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital City Bank Group Inc                  | Capital City Bank Group, Inc.                  | CUSIP: 139674105<br>LEI: 254900NVLVUJQZKTQE82 | Long             | EC               | CORP              | US        |    500000 | NS      | $16250000.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Lifecore Biomedical Inc                      | Lifecore Biomedical, Inc.                      | CUSIP: 514766104<br>LEI: 549300EHBZ5OM9ND9O43 | Long             | EC               | CORP              | US        |   1050000 | NS      | $6804000.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 Verticals Inc                             | I3 Verticals, Inc.                             | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |    400000 | NS      | $9736000.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-corp                         | Associated Banc-Corp                           | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |    300000 | NS      | $6927000.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Global Inc                            | Hudson Global, Inc.                            | CUSIP: 443787205<br>LEI: 54930073WVI9H7ILKL69 | Long             | EC               | CORP              | US        |    252700 | NS      | $5718601.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Infusystem Holdings Inc                      | InfuSystem Holdings, Inc.                      | CUSIP: 45685K102<br>LEI: 549300F58N8PHJ4QUI59 | Long             | EC               | CORP              | US        |    255000 | NS      | $2213400.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Molding Technologies Inc                | Core Molding Technologies, Inc.                | CUSIP: 218683100<br>LEI: 549300ZY2MFRXCKVIJ28 | Long             | EC               | CORP              | US        |    405000 | NS      | $5260950.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Carriage Services Inc                        | Carriage Services, Inc.                        | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $5508000.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Ezcorp Inc                                   | Ezcorp, Inc.                                   | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |    800000 | NS      | $6520000.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co Plc                               | Perrigo Co. PLC                                | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |    400000 | NS      | $13636000.00  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Iheartmedia Inc                              | iHeartMedia, Inc.                              | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    162727 | NS      | $997516.51    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Envela Corp                                  | Envela Corp.                                   | CUSIP: 29402E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    195675 | NS      | $1029250.50   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                                  | Rogers Corp.                                   | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     50000 | NS      | $5967000.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Ceco Environmental Corp                      | CECO Environmental Corp.                       | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |    800000 | NS      | $9344000.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc                 | Texas Capital Bancshares, Inc.                 | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |    275000 | NS      | $16585250.00  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Major Drilling Group International Inc       | Major Drilling Group International, Inc.       | CUSIP: 560909103<br>LEI: 549300O1MNHCX2FUBC21 | Long             | EC               | CORP              | CA        |   1000000 | NS      | $7769571.64   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Income Property Trust Inc             | Alpine Income Property Trust, Inc.             | CUSIP: 02083X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $5724000.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Amtech Systems Inc                           | Amtech Systems, Inc.                           | CUSIP: 032332504<br>LEI: 5299008VRUUPETM6HZ85 | Long             | EC               | CORP              | US        |    307000 | NS      | $2333200.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Us Global Investors Inc                      | US Global Investors, Inc.                      | CUSIP: 902952100<br>LEI: 529900IRM26R91LI8531 | Long             | EC               | CORP              | US        |    415044 | NS      | $1199477.16   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Educational Services Corp            | Lincoln Educational Services Corp.             | CUSIP: 533535100<br>LEI: 549300BJ55KUY6RG7L98 | Long             | EC               | CORP              | US        |   1850000 | NS      | $10711500.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc                   | Thermon Group Holdings, Inc.                   | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |    400000 | NS      | $8032000.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                   | Americold Realty Trust, Inc.                   | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |    500000 | NS      | $14155000.00  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Shyft Group Inc/the                          | Shyft Group, Inc.                              | CUSIP: 825698103<br>LEI: 549300YY0TB51BGRV994 | Long             | EC               | CORP              | US        |    500000 | NS      | $12430000.00  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Western Bank                        | Canadian Western Bank                          | CUSIP: 13677F101<br>LEI: 549300QG7XFGLKN6HL17 | Long             | EC               | CORP              | CA        |    300000 | NS      | $5330871.49   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Water Corp                             | Primo Water Corp.                              | CUSIP: 74167P108<br>LEI: 5493005TMUI9D3MY9I37 | Long             | EC               | CORP              | CA        |    500000 | NS      | $7770000.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dril-quip Inc                                | Dril-Quip, Inc.                                | CUSIP: 262037104<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     70000 | NS      | $1901900.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tiptree Inc                                  | Tiptree, Inc.                                  | CUSIP: 88822Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $4152000.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate Bancsystem Inc              | First Interstate BancSystem, Inc.              | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |    150000 | NS      | $5797500.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc                  | Sterling Infrastructure, Inc.                  | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |    200000 | NS      | $6560000.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Programs And Systems Inc            | Computer Programs and Systems, Inc.            | CUSIP: 205306103<br>LEI: 5493005Q6CJC78TGL805 | Long             | EC               | CORP              | US        |    150000 | NS      | $4083000.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cass Information Systems Inc                 | Cass Information Systems, Inc.                 | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |    225682 | NS      | $10340749.24  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Potlatchdeltic Corp                          | PotlatchDeltic Corp.                           | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |    100000 | NS      | $4399000.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                 | Sunstone Hotel Investors, Inc.                 | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    850000 | NS      | $8211000.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| World Wrestling Entertainment Inc            | World Wrestling Entertainment, Inc.            | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |     50000 | NS      | $3426000.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Berry Corp                                   | Berry Corp.                                    | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1000000 | NS      | $8000000.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Aerojet Rocketdyne Holdings Inc              | Aerojet Rocketdyne Holdings, Inc.              | CUSIP: 007800105<br>LEI: 549300VULNLWHE8QWI76 | Long             | EC               | CORP              | US        |    200000 | NS      | $11186000.00  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Everi Holdings Inc                           | Everi Holdings, Inc.                           | CUSIP: 30034T103<br>LEI: 5299006DK5S7BG10K532 | Long             | EC               | CORP              | US        |    400000 | NS      | $5740000.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Umh Properties Inc                           | UMH Properties, Inc.                           | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |    475000 | NS      | $7647500.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Audiocodes Ltd                               | AudioCodes, Ltd.                               | CUSIP: M15342104<br>LEI: 529900TA48138NEVR854 | Long             | EC               | CORP              | IL        |    285000 | NS      | $5098650.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc                          | Thor Industries, Inc.                          | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     80000 | NS      | $6039200.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Cycle Corp                              | Pure Cycle Corp.                               | CUSIP: 746228303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    500000 | NS      | $5240000.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Mgic Investment Corp                         | MGIC Investment Corp.                          | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    500000 | NS      | $6500000.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc                      | Century Communities, Inc.                      | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |    300000 | NS      | $15003000.00  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| International General Insurance Holdings Ltd | International General Insurance Holdings, Ltd. | CUSIP: G4809J106<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    200000 | NS      | $1600000.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Nov Inc                                      | NOV, Inc.                                      | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    700000 | NS      | $14623000.00  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                        | Encompass Health Corp.                         | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    240000 | NS      | $14354400.00  | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Allete Inc                                   | ALLETE, Inc.                                   | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |    250000 | NS      | $16127500.00  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                                 | Carter's, Inc.                                 | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |    100000 | NS      | $7461000.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Financial Corp/wa                   | Heritage Financial Corp.                       | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $9192000.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc               | Advanced Energy Industries, Inc.               | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |    100000 | NS      | $8578000.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Water Co Ltd                    | Consolidated Water Co., Ltd.                   | CUSIP: G23773107<br>LEI: 5299001BMEW8X9VIJA73 | Long             | EC               | CORP              | KY        |    450000 | NS      | $6660000.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Forestar Group Inc                           | Forestar Group, Inc.                           | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |    500000 | NS      | $7705000.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Now Inc                                      | NOW, Inc.                                      | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |    750000 | NS      | $9525000.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Potbelly Corp                                | Potbelly Corp.                                 | CUSIP: 73754Y100<br>LEI: 54930027NUULUR2P5W11 | Long             | EC               | CORP              | US        |    800000 | NS      | $4456000.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunopta Inc                                  | SunOpta, Inc.                                  | CUSIP: 8676EP108<br>LEI: 54930010CP0KEPPRPA40 | Long             | EC               | CORP              | CA        |    500000 | NS      | $4220000.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc/the                              | Bancorp, Inc.                                  | CUSIP: 05969A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $4257000.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| First Internet Bancorp                       | First Internet Bancorp                         | CUSIP: 320557101<br>LEI: 549300T25MP2M92XU194 | Long             | EC               | CORP              | US        |    302000 | NS      | $7332560.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson Cos Inc                            | Patterson Cos., Inc.                           | CUSIP: 703395103<br>LEI: YM48Q2087CUE26GWEK09 | Long             | EC               | CORP              | US        |    350000 | NS      | $9810500.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nufarm Ltd/australia                         | Nufarm, Ltd.                                   | CUSIP: N/A<br>LEI: 529900QVU58IVMPRWJ98       | Long             | EC               | CORP              | AU        |   1800000 | NS      | $7504320.41   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Orion Energy Systems Inc                     | Orion Energy Systems, Inc.                     | CUSIP: 686275108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    900000 | NS      | $1638000.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                             | Haemonetics Corp.                              | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |    130000 | NS      | $10224500.00  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Wideopenwest Inc                             | WideOpenWest, Inc.                             | CUSIP: 96758W101<br>LEI: 549300RM6J2BWWOFU889 | Long             | EC               | CORP              | US        |    200000 | NS      | $1822000.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Radian Group Inc                             | Radian Group, Inc.                             | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |    750000 | NS      | $14302500.00  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Corp              | Old Republic International Corp.               | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |    150000 | NS      | $3622500.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Arc Resources Ltd                            | ARC Resources, Ltd.                            | CUSIP: 00208D408<br>LEI: FIR47I6FEYKYNJBYW622 | Long             | EC               | CORP              | CA        |    750000 | NS      | $10108936.48  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Bwx Technologies Inc                         | BWX Technologies, Inc.                         | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |    150000 | NS      | $8712000.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Osisko Gold Royalties Ltd                    | Osisko Gold Royalties, Ltd.                    | CUSIP: 68827L101<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |    600000 | NS      | $7242000.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc                | Barrett Business Services, Inc.                | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |    140000 | NS      | $13059200.00  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** HEARTLAND GROUP INC.

**Signature:** Nicole Best

**Name of Signer:** Nicole Best

**Title:** Chief Financial Officer and Chief Administrative