Heartland Mid Cap Value Institutional HNMDX

Under normal circumstances, at least 80% of the fund's net assets are invested in common stocks and other equity securities of mid-capitalization companies. It invests primarily in a concentrated number (generally 40 to 60) of mid-capitalization common stocks selected on a value basis and whose current market prices, in Heartland Advisors' judgment, are undervalued relative to their intrinsic value.