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RIA / WealthRegistered adviserasset managerSEC registeredRAUM 1b 10b

HEARTLAND ADVISORS, INC.

CRD 29433

MILWAUKEE, WI

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:901ed6e6-e866-35f1-9d07-8e3556ea87c3

Data as of Feb 26, 2026 (this record's last observation) from federal regulator filings. Page built Sep 18, 2026, 11:16 PM UTC and rebuilt at most every 15 minutes.

Relationships: 38
Dated events: 6
On other graphs: 0
Observed: Mar 12, 2012 to Feb 26, 2026
40 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: asset managerderivedprivate_client_share=0.1 fund_share=0.86 institutional_share=0.02 related_bd=false related_bank=false bd_reps=18.0
Regulatory AUM: $1.9BItem 5.F on the latest filing (2026-02-26); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $1.9B
Private client RAUM: $189MderivedItem 5.D individuals plus high net worth individuals
Private client share: 10%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 14
RAUM per advisor: $137Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 26
Advisory employees: 10
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 93
Individual clients: 32
High net worth clients: 48
SEC number: 801-19074
CRD: 29433
Filings on the tape: 40
First filed: Mar 12, 2012
Latest filed: Feb 26, 2026
Organised: Corporation, WI

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
KEVIN DOUGLAS CLARK	n/a	MILWAUKEE, WI	24	38	n/a	yes
WILLIAM JOHN NASGOVITZ	n/a	MILWAUKEE, WI	22	46	1	yes
WILLIAM RICHARD NASGOVITZ	n/a	MILWAUKEE, WI	20	22	n/a	yes
MICHAEL DAVID KOPS	n/a	MILWAUKEE, WI	16	27	2	yes
NICOLE JEANNINE BEST	n/a	MILWAUKEE, WI	16	28	1	yes
ANDREW JOHN FLEMING	Chartered Financial Analyst	MILWAUKEE, WI	12	13	n/a	yes
COLIN PATRICK MCWEY	Chartered Financial Analyst	MILWAUKEE, WI	12	24	n/a	yes
TROY WILLIAM MCGLONE	Chartered Financial Analyst	MILWAUKEE, WI	11	12	n/a	yes
Linda Marie Lorenz	n/a	MILWAUKEE, WI	8	14	n/a	no
JEFFREY JAMES KOHL	n/a	MILWAUKEE, WI	6	33	2	yes
MICHAEL JACK WARECKI	n/a	MILWAUKEE, WI	6	10	n/a	yes
JACOB SCOTT WESTPHAL	n/a	MILWAUKEE, WI	5	10	n/a	yes
KAREN ANN LEPPLA	n/a	MILWAUKEE, WI	3	29	1	yes
WILLIAM BENNETT VOLPE	n/a	MILWAUKEE, WI	0	11	n/a	yes

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
BEST, NICOLE, JEANNINE	SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER & CHIEF ADMINSTRATIVE OFFICER	Na	yes	05/2010	Mar 12, 2012	Feb 28, 2024
FLEMING, ANDREW, JOHN	VICE PRESIDENT & PORTFOLIO MANAGER	Na	yes	06/2012	Mar 9, 2018	Feb 28, 2024
HEARTLAND HOLDINGS, INC.	Shareholder	E	yes	08/2000	Mar 12, 2012	Feb 28, 2024
KOPS, MICHAEL, DAVID	VICE PRESIDENT OF SALES	Na	yes	10/2009	Mar 9, 2018	Feb 28, 2024
MCGLONE, TROY, WILLIAM	VICE PRESIDENT & PORTFOLIO MANAGER	Na	yes	06/2014	Mar 1, 2022	Feb 28, 2024
MCWEY, COLIN, PATRICK	VICE PRESIDENT & PORTFOLIO MANAGER	Na	yes	06/2009	Sep 30, 2013	Feb 28, 2024
NASGOVITZ, WILLIAM, JOHN	DIRECTOR & CHAIRMAN	Na	yes	03/1985	Mar 12, 2012	Feb 28, 2024
NASGOVITZ, WILLIAM, RICHARD	DIRECTOR & CHIEF EXECUTIVE OFFICER &TRUSTEE OF TRUSTS	E	yes	05/2006	Mar 12, 2012	Feb 28, 2024
NASGOVITZ, WILLIAM, RICHARD	DIRECTOR, CHIEF EXECUTIVE OFFICER & PORTFOLIO MANAGER	Na	yes	05/2006	Mar 12, 2012	Feb 28, 2024
PAUL, VINITA, KAUR	VICE PRESIDENT, CHIEF COMPLIANCE OFFICER, GENERAL COUNSEL & SECRETARY	Na	yes	08/2008	Mar 12, 2012	Feb 28, 2024
WILLIAM J. NASGOVITZ GRANTOR RETAINED ANNUITY TRUST	Trust	C	yes	07/2009	Apr 18, 2022	Feb 28, 2024

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Feb 26, 2026	$1.9B	$1.9B	26	10	0	n/a	n/a
2024	Feb 28, 2025	$1.9B	$1.9B	26	10	0	n/a	n/a
2023	Feb 28, 2024	$2.0B	$2.0B	25	9	0	n/a	n/a
2022	Mar 1, 2023	$1.7B	$1.7B	27	10	0	n/a	n/a
2021	Mar 1, 2022	$1.9B	$1.9B	27	10	0	n/a	n/a
2020	Mar 1, 2021	$1.5B	$1.5B	25	10	0	n/a	n/a
2019	Feb 28, 2020	$1.4B	$1.4B	28	12	0	n/a	n/a
2018	Mar 4, 2019	$1.3B	$1.3B	28	12	0	n/a	n/a
2017	Mar 9, 2018	$1.7B	$1.7B	34	15	0	n/a	n/a
2016	Feb 21, 2017	$2.0B	$2.0B	35	14	n/a	n/a	n/a
2015	Mar 18, 2016	$2.7B	$2.7B	41	16	n/a	n/a	n/a
2014	Mar 11, 2015	$5.4B	$5.4B	49	16	n/a	n/a	n/a
2013	Mar 13, 2014	$6.1B	$6.1B	51	18	n/a	n/a	n/a
2012	Mar 15, 2013	$5.2B	$5.2B	50	17	n/a	n/a	n/a
2011	Mar 12, 2012	$4.9B	$4.9B	n/a	n/a	n/a	n/a	n/a

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
0	0	0	0.0%	0	0	0	0	2

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$1.9B	$1.9B	1.8%	$1.7B	4.3%	26	26	0	0

Relationships

Registered with (24)

← WILLIAM BENNETT VOLPEAdvisorregistration: current employment
Nov 5, 2025 to presentfactForm ADV
← KAREN ANN LEPPLAAdvisorregistration: current employment
Nov 1, 2022 to presentfactForm ADV
← JACOB SCOTT WESTPHALAdvisorregistration: current employment
Mar 31, 2021 to presentfactForm ADV
← MICHAEL JACK WARECKIAdvisorregistration: current employment
Apr 20, 2020 to presentfactForm ADV
← JEFFREY JAMES KOHLAdvisorregistration: previous registration
May 24, 2004 to Jun 30, 2015factForm ADV
← Linda Marie LorenzAdvisorregistration: current employment
Jun 7, 2018 to presentfactForm ADV
← TROY WILLIAM MCGLONEAdvisorregistration: current employment
Oct 16, 2014 to presentfactForm ADV
← COLIN PATRICK MCWEYAdvisorregistration: current employment
Oct 18, 2013 to presentfactForm ADV
← ANDREW JOHN FLEMINGAdvisorregistration: current employment
Oct 14, 2013 to presentfactForm ADV
← NICOLE JEANNINE BESTAdvisorregistration: previous registration
Oct 16, 2003 to Aug 28, 2008factForm ADV
← MICHAEL DAVID KOPSAdvisorregistration: current employment
Dec 11, 2009 to presentfactForm ADV
← WILLIAM RICHARD NASGOVITZAdvisorregistration: current employment
May 30, 2006 to presentfactForm ADV
← WILLIAM JOHN NASGOVITZAdvisorregistration: previous registration
Jan 10, 2002 to Oct 10, 2003factForm ADV
← KEVIN DOUGLAS CLARKAdvisorregistration: current employment
Jan 10, 2002 to presentfactForm ADV
← CORBIN C MCGUIREAdvisorregistration: previous registration
May 23, 2024 to Sep 4, 2025factForm ADV
← Clarence Connor DarrowAdvisorregistration: previous registration
Feb 14, 2024 to Aug 27, 2024factForm ADV
← MICHAEL JAMES BRUSKOAdvisorregistration: previous registration
Jan 23, 2013 to Mar 1, 2018factForm ADV
← ADAM JONATHAN PECKAdvisorregistration: previous registration
Sep 10, 2007 to Jan 29, 2016factForm ADV
← JOHN COLBURN CLARKEAdvisorregistration: previous registration
Jun 26, 2014 to Aug 7, 2015factForm ADV
← MICHAEL H DISTEFANOAdvisorregistration: previous registration
Aug 3, 2004 to Jun 30, 2015factForm ADV
← ANDREW WAYNE BALLARDAdvisorregistration: previous registration
May 22, 2009 to Jun 30, 2015factForm ADV
← Christopher P ErsboAdvisorregistration: previous registration
Apr 8, 2003 to Oct 24, 2008factForm ADV
← MICHAEL RYAN GLATKOWSKIAdvisorregistration: previous registration
Aug 21, 2006 to Feb 15, 2008factForm ADV
← DEREK JOSEPH PAWLAKAdvisorregistration: previous registration
Jan 10, 2002 to Dec 2, 2002factForm ADV

Controls (10)

← BEST, NICOLE, JEANNINEOwnerSENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER & CHIEF ADMINSTRATIVE OFFICER, ownership code NA, individual
Mar 12, 2012 to Feb 28, 2024factForm ADV
← KOPS, MICHAEL, DAVIDOwnerVICE PRESIDENT OF SALES, ownership code NA, individual
Mar 9, 2018 to Feb 28, 2024factForm ADV
← NASGOVITZ, WILLIAM, JOHNOwnerDIRECTOR & CHAIRMAN, ownership code NA, individual
Mar 12, 2012 to Feb 28, 2024factForm ADV
← MCWEY, COLIN, PATRICKOwnerVICE PRESIDENT & PORTFOLIO MANAGER, ownership code NA, individual
Sep 30, 2013 to Feb 28, 2024factForm ADV
← FLEMING, ANDREW, JOHNOwnerVICE PRESIDENT & PORTFOLIO MANAGER, ownership code NA, individual
Mar 9, 2018 to Feb 28, 2024factForm ADV
← NASGOVITZ, WILLIAM, RICHARDOwnerDIRECTOR & CHIEF EXECUTIVE OFFICER &TRUSTEE OF TRUSTS, ownership code E, individual
Mar 12, 2012 to Feb 28, 2024factForm ADV
← PAUL, VINITA, KAUROwnerVICE PRESIDENT, CHIEF COMPLIANCE OFFICER, GENERAL COUNSEL & SECRETARY, ownership code NA, individual
Mar 12, 2012 to Feb 28, 2024factForm ADV
← MCGLONE, TROY, WILLIAMOwnerVICE PRESIDENT & PORTFOLIO MANAGER, ownership code NA, individual
Mar 1, 2022 to Feb 28, 2024factForm ADV
← HEARTLAND HOLDINGS, INC.OwnerSHAREHOLDER, ownership code E, domestic entity
Mar 12, 2012 to Feb 28, 2024factForm ADV
← WILLIAM J. NASGOVITZ GRANTOR RETAINED ANNUITY TRUSTOwnerTRUST, ownership code C, domestic entity
Apr 18, 2022 to Feb 28, 2024factForm ADV

Dated events

Occurred
Sep 4, 2025
Advisor changed firm
Corbin C Mcguire left Heartland Advisors, Inc. for Walleye Partners Llc (registered 2025-09-17)
Form ADVobserved 3 days ago
Occurred
Aug 27, 2024
Advisor changed firm
Clarence Connor Darrow left Heartland Advisors, Inc. for William Blair & Company L.L.C. (registered 2024-08-26)
Form ADVobserved 3 days ago
Occurred
Feb 28, 2024
Control person left
Allen Bradford Evans (Senior Vice President & Portfolio Manager) no longer on Schedule A of Heartland Advisors, Inc. (listed 2023-03-02, absent 2024-02-28)
Form ADVobserved 3 days ago
Occurred
Apr 18, 2022
Control person left
Jason Matthew Miner (Director, Vice President, Chief Risk Officer & Director Of Trading) no longer on Schedule A of Heartland Advisors, Inc. (listed 2022-03-02, absent 2022-04-18)
Form ADVobserved 3 days ago
Occurred
Mar 1, 2022
Control person joined
William Troy Mcglone (Vice President & Portfolio Manager) appeared on Schedule A of Heartland Advisors, Inc.
Form ADVobserved 3 days ago
Occurred
Mar 1, 2022
Control person left
Douglas Kevin Clark (Senior Vice President Equity Trading) no longer on Schedule A of Heartland Advisors, Inc. (listed 2021-03-01, absent 2022-03-01)
Form ADVobserved 3 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:901ed6e6-e866-35f1-9d07-8e3556ea87c3
First observed: Mar 12, 2012
Last observed: Feb 26, 2026 6 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

HEARTLAND ADVISORS, INC.

CRD 29433

MILWAUKEE, WI

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:901ed6e6-e866-35f1-9d07-8e3556ea87c3

Data as of Feb 26, 2026 (this record's last observation) from federal regulator filings. Page built Sep 18, 2026, 11:16 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

KEVIN DOUGLAS CLARK

n/a

MILWAUKEE, WI

n/a

yes

WILLIAM JOHN NASGOVITZ

n/a

MILWAUKEE, WI

yes

WILLIAM RICHARD NASGOVITZ

n/a

MILWAUKEE, WI

n/a

yes

MICHAEL DAVID KOPS

n/a

MILWAUKEE, WI

yes

NICOLE JEANNINE BEST

n/a

MILWAUKEE, WI

yes

ANDREW JOHN FLEMING

Chartered Financial Analyst

MILWAUKEE, WI

n/a

yes

COLIN PATRICK MCWEY

Chartered Financial Analyst

MILWAUKEE, WI

n/a

yes

TROY WILLIAM MCGLONE

Chartered Financial Analyst

MILWAUKEE, WI

n/a

yes

Linda Marie Lorenz

n/a

MILWAUKEE, WI

n/a

JEFFREY JAMES KOHL

n/a

MILWAUKEE, WI

yes

MICHAEL JACK WARECKI

n/a

MILWAUKEE, WI

n/a

yes

JACOB SCOTT WESTPHAL

n/a

MILWAUKEE, WI

n/a

yes

KAREN ANN LEPPLA

n/a

MILWAUKEE, WI

yes

WILLIAM BENNETT VOLPE

n/a

MILWAUKEE, WI

n/a

yes

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

BEST, NICOLE, JEANNINE

SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER & CHIEF ADMINSTRATIVE OFFICER

yes

05/2010

Mar 12, 2012

Feb 28, 2024

FLEMING, ANDREW, JOHN

VICE PRESIDENT & PORTFOLIO MANAGER

yes

06/2012

Mar 9, 2018

Feb 28, 2024

HEARTLAND HOLDINGS, INC.

Shareholder

yes

08/2000

Mar 12, 2012

Feb 28, 2024

KOPS, MICHAEL, DAVID

VICE PRESIDENT OF SALES

yes

10/2009

Mar 9, 2018

Feb 28, 2024

MCGLONE, TROY, WILLIAM

VICE PRESIDENT & PORTFOLIO MANAGER

yes

06/2014

Mar 1, 2022

Feb 28, 2024

MCWEY, COLIN, PATRICK

VICE PRESIDENT & PORTFOLIO MANAGER

yes

06/2009

Sep 30, 2013

Feb 28, 2024

NASGOVITZ, WILLIAM, JOHN

DIRECTOR & CHAIRMAN

yes

03/1985

Mar 12, 2012

Feb 28, 2024

NASGOVITZ, WILLIAM, RICHARD

DIRECTOR & CHIEF EXECUTIVE OFFICER &TRUSTEE OF TRUSTS

yes

05/2006

Mar 12, 2012

Feb 28, 2024

NASGOVITZ, WILLIAM, RICHARD

DIRECTOR, CHIEF EXECUTIVE OFFICER & PORTFOLIO MANAGER

yes

05/2006

Mar 12, 2012

Feb 28, 2024

PAUL, VINITA, KAUR

VICE PRESIDENT, CHIEF COMPLIANCE OFFICER, GENERAL COUNSEL & SECRETARY

yes

08/2008

Mar 12, 2012

Feb 28, 2024

WILLIAM J. NASGOVITZ GRANTOR RETAINED ANNUITY TRUST

Trust

yes

07/2009

Apr 18, 2022

Feb 28, 2024

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Feb 26, 2026

$1.9B

n/a

2024

Feb 28, 2025

$1.9B

n/a

2023

Feb 28, 2024

$2.0B

n/a

2022

Mar 1, 2023

$1.7B

n/a

2021

Mar 1, 2022

$1.9B

n/a

2020

Mar 1, 2021

$1.5B

n/a

2019

Feb 28, 2020

$1.4B

n/a

2018

Mar 4, 2019

$1.3B

n/a

2017

Mar 9, 2018

$1.7B

n/a

2016

Feb 21, 2017

$2.0B

n/a

2015

Mar 18, 2016

$2.7B

n/a

2014

Mar 11, 2015

$5.4B

n/a

2013

Mar 13, 2014

$6.1B

n/a

2012

Mar 15, 2013

$5.2B

n/a

2011

Mar 12, 2012

$4.9B

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

0.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$1.9B

1.8%

$1.7B

4.3%