Heartland Mid Cap Value Fund’s Views on J.B. Hunt Transport Services (JBHT)

Core Insights - Heartland Advisors' "Heartland Mid Cap Value Fund" reported a loss of 1.92% in Q4 2025, underperforming the Russell Midcap® Value Index, which returned 1.42% [1] - The fund's performance was negatively impacted by the underperformance of its Quality Value holdings, while speculative and low-quality stocks gained attention in the market [1] Company Highlights - J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) is a key stock highlighted in the fund's investor letter, with a market capitalization of $19.973 billion [2] - J.B. Hunt's stock closed at $206.33 on January 12, 2026, with a one-month return of 4.86% and a 52-week gain of 13.61% [2] - In the Industrials sector, J.B. Hunt was the top contributor to the fund's portfolio performance in the quarter [3] Industry Insights - J.B. Hunt operates in the Deep Value segment as a diversified transportation company focusing on intermodal shipping, which allows for cost reduction through various transportation methods [4] - The company possesses the largest fleet of 53-foot shipping containers, enabling efficient consolidation of freight, which enhances its competitive edge [4] - J.B. Hunt's intermodal business is approximately twice the size of its nearest competitor, providing significant scale and cost advantages that lead to high returns on capital [4]