The Fund Grade · free · no account needed
What grade does HRMDX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Heartland Mid Cap Value Investor
#366 of 500 graded active funds · value · mid segment peer group
The point · specialist footprint
HRMDX puts less of its book behind proven specialists than 90% of graded funds.
● Bottom 20%
Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8% per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
10,000+ funds tracked · the graded specialists among them drive every read
3 funds in the same segment carry an A. Members see the names and what they charge. See the alternatives →
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
HRMDX vs the Honor Roll · share card ↗Conviction exposure
1.3%
of the book in specialist-converged names
Late-stage weight
32.4%
of the book in Crowded or Fading names
Active share
95.3%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
HRMDX grades D out of 500 funds, with specialist money at just 1.3% of the portfolio. Five positions totaling over 15% are either Fading or Crowded, including EXC, WSO, and JBHT where specialists are actively leaving. TDY is the one bright spot, an Emerging stage holding at 4.6%.
→ Watch EXC, WSO, JBHT, and DHI closely, as specialist exits across four positions at once is a meaningful warning sign.
→ Compare this fund against the three higher graded peers in its segment, given the D grade and thin specialist backing here.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.