Heartland Express

HTLD • NASDAQ

Heartland Express is a trucking company in the industrials sector on NASDAQ, led by Michael Gerdin, with a market cap of $734.2M. As of Q3 2025, 48% of shares are held by 173 institutional investors, with BlackRock, Inc. as the largest holder at 8.59%.

Chief Executive Officer and Chairman of the BoardMichael Gerdin

Market Cap$734.2M

Trucking

Industrials

Employees6.3K

Websiteheartlandexpress.com

Country

United States of America

Overview

Overview of institutional ownership in HTLD as of Q3 2025 with a market cap of $648.7M

All Institutions

Institutions: 173
Value Held: $309.4M
Shares Held: 36.9M
Avg Position: $1.8M
Median Position: $208.9K

Hedge Funds

Hedge Funds: 23
Value Held: $55.9M
Shares Held: 6.7M
Avg Position: $2.4M
Median Position: $874.4K

Ownership Breakdown

Institutional (non-HF)

39.07%

$253.4M

Hedge Funds

8.62%

$55.9M

Retail & Other

52.31%

$339.3M

Based on market cap of $648.7M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in HTLD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$55.7M 0.00% of portfolio	8.59% 6.6M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$32.6M 0.00% of portfolio	5.02% 3.9M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$32.3M 0.01% of portfolio	4.98% 3.9M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
G GATE CITY CAPITAL MANAGEMENT, LLC Hedge Fund•Value	Michael Thomas Melby Managing Partner	$17.0M 8.65% of portfolio	2.62% 2.0M shares	Q3 2024 Held for 1y 2m	$196.1M
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$16.2M 0.00% of portfolio	2.49% 1.9M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
A AMERICAN CENTURY COMPANIES INC Institution	-	$12.9M 0.01% of portfolio	1.99% 1.5M shares	≤ Q2 2013 Held for 12y 5m+	$195.93B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$10.3M 0.00% of portfolio	1.59% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC Long Only Manager	Scott Hoy Mcbride CEO	$9.7M 0.03% of portfolio	1.49% 1.2M shares	Q1 2025 Held for 8 months	$32.2B
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	Omar Aguilar Chavez CEO	$7.7M 0.00% of portfolio	1.19% 924.0K shares	≤ Q2 2013 Held for 12y 5m+	$620.51B
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	Scott David Hoffman CEO	$6.8M 0.01% of portfolio	1.05% 812.2K shares	Q2 2023 Held for 2y 5m	$62.0B

Net Capital Flow

Institutional buying and selling activity for HTLD in Q3 2025

Traded: −$1.6M
Buyers: 92
Sellers: 87
Total Bought: +$46.0M
Total Sold: −$47.6M
Avg Position: $1.5M

Biggest Buyers

Institution	Net Bought	Current Position
W Wallace Capital Management Inc. Hedge Fund•Multi-Strategy	+$4.8M +571.5K shares	$4.8M 571.5K shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC Long Only Manager	+$4.1M +485.7K shares	$9.7M 1.2M shares
M MAGNOLIA GROUP, LLC Hedge Fund•Value	+$4.1M +484.7K shares	$4.1M 484.7K shares
AMERIPRISE FINANCIAL INC Institution	+$4.0M +480.5K shares	$6.7M 799.5K shares
G GATE CITY CAPITAL MANAGEMENT, LLC Hedge Fund•Value	+$3.5M +413.3K shares	$17.0M 2.0M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$3.2M +387.0K shares	$6.8M 812.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$2.4M +291.9K shares	$3.3M 394.3K shares
J JANE STREET GROUP, LLC Institution	+$1.7M +198.9K shares	$1.9M 230.2K shares
GOLDMAN SACHS GROUP INC Institution	+$1.4M +169.2K shares	$3.3M 396.9K shares
D D. E. Shaw & Co., Inc. Institution	+$1.4M +167.1K shares	$1.8M 215.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
VANGUARD GROUP INC Institution	−$7.8M −925.1K shares	$32.6M 3.9M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$4.1M −485.4K shares	$2.4M 285.8K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$3.8M −454.3K shares	$424.8K 50.7K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$3.5M −405.8K shares	Sold Off 0 shares
B Bastion Asset Management Inc. Institution	−$3.1M −344.1K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$2.5M −297.6K shares	$55.7M 6.6M shares
Brandywine Global Investment Management, LLC Long Only Manager	−$2.3M −271.4K shares	Sold Off 0 shares
Invesco Ltd. ETF Provider	−$2.1M −255.1K shares	$2.9M 344.5K shares
F First Eagle Investment Management, LLC Long Only Manager	−$1.9M −221.6K shares	Sold Off 0 shares
DEAN INVESTMENT ASSOCIATES, LLC Long Only Manager	−$1.6M −187.9K shares	$799.3K 95.4K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited HTLD in Q3 2025

New Positions: 17
New Value: $10.4M
Exited Positions: 30
Exited Value: $16.7M

New Positions

Institution	Position Value
W Wallace Capital Management Inc. Hedge Fund•Multi-Strategy	$4.8M 571.5K shares
M MAGNOLIA GROUP, LLC Hedge Fund•Value	$4.1M 484.7K shares
Lighthouse Investment Partners, LLC Fund of Funds	$476.8K 56.9K shares
Pacific Ridge Capital Partners, LLC Long Only Manager	$327.8K 39.1K shares
FourThought Financial Partners, LLC RIA/Wealth	$160.0K 19.1K shares
E Entropy Technologies, LP Hedge Fund•Quant Macro	$149.9K 17.9K shares
T TWO SIGMA SECURITIES, LLC Institution	$115.5K 13.8K shares
PEKIN SINGER STRAUSS ASSET MANAGEMENT /IL RIA/Wealth	$100.6K 12.0K shares
Autumn Glory Partners, LLC RIA/Wealth	$89.4K 10.7K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$88.7K 10.5K shares

Exited Positions

Institution	Previous Position
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$3.5M 405.8K shares
B Bastion Asset Management Inc. Institution	$3.1M 344.1K shares
Brandywine Global Investment Management, LLC Long Only Manager	$2.3M 271.4K shares
F First Eagle Investment Management, LLC Long Only Manager	$1.9M 221.6K shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	$901.8K 104.4K shares
WEALTHEDGE INVESTMENT ADVISORS, LLC RIA/Wealth	$774.7K 89.7K shares
Horizon Investments, LLC/SC Long Only Manager	$529.7K 61.3K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$504.1K 58.3K shares
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	$467.9K 54.2K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$373.5K 43.2K shares

Options Activity

Institutions with the largest Call and Put options positions in HTLD as of Q3 2025

Call Positions: 2
Call Value: $142.5K
Put Positions: 3
Put Value: $151.7K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$142.5K 170.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$151.7K 181.0 contracts
P PEAK6 LLC Institution	- - contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Most Committed Institutions

Institutions with HTLD as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
G GATE CITY CAPITAL MANAGEMENT, LLC Hedge Fund•Value	Michael Thomas Melby Managing Partner	8.65% $17.0M	2.62% 2.0M shares	Q3 2024 Held for 1y 2m	$196.1M
L Lesa Sroufe & Co RIA/Wealth	Lesa Anne Sroufe President	1.89% $1.9M	0.29% 227.9K shares	Q1 2025 Held for 8 months	$100.9M
M MAGNOLIA GROUP, LLC Hedge Fund•Value	Adam Kenneth Peterson Managing Partner	0.64% $4.1M	0.63% 484.7K shares	Q3 2025 Held for 2 months	$630.8M
W Wallace Capital Management Inc. Hedge Fund•Multi-Strategy	Christopher Lee Thomason President	0.60% $4.8M	0.74% 571.5K shares	Q3 2025 Held for 2 months	$804.5M
SummerHaven Investment Management, LLC Long Only Manager	Kurt Jonathon Nelson CEO	0.44% $755.1K	0.12% 90.1K shares	Q3 2024 Held for 1y 2m	$170.9M
Dean Capital Management Long Only Manager	Jessica Lynn Skinner CCO	0.26% $659.9K	0.10% 78.7K shares	Q2 2018 Held for 7y 5m	$256.5M
DEAN INVESTMENT ASSOCIATES, LLC Long Only Manager	Stephen Michael Miller CEO	0.11% $799.3K	0.12% 95.4K shares	Q2 2018 Held for 7y 5m	$713.0M
B BEACON INVESTMENT ADVISORS LLC RIA/Wealth	Eric Joseph Kleinschmidt CCO	0.11% $268.7K	0.04% 32.1K shares	Q4 2022 Held for 2y 11m	$245.3M
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.09% $4.4M	0.68% 524.9K shares	Q4 2023 Held for 1y 11m	$4.7B
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	David Khabie-Zeitoune CEO	0.08% $866.3K	0.13% 103.4K shares	Q1 2023 Held for 2y 8m	$1.1B

Hedge Fund Spotlight

Discover hedge funds investing in HTLD

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Heartland Express

Market Value: $3.3M
Shares Held: 394.3K
Portfolio Weight: 0.00%
Owned Since: 2016-Q3

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%