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wireless_wazoo

03/28/05 10:21 AM

#99680 RE: mschere #99667

It appears the 3M share buy was during the "shakeout" of January as IDCC's share of assets went from 3.5% (12/04) to 5.45% (1/05). From the Heartland Value "Fact Sheet" on their website --

Top Holdings — % of Net Assets (Excludes cash equivalents)
Great Lakes Chemical Corp. ............................................ 3.6%
InterDigital Communications Corp. ................................ 3.5
BearingPoint, Inc. ............................................................ 2.1
Sonus Networks, Inc. ...................................................... 1.7
Dynegy, Inc. (Class A) .................................................... 1.6
Alliance Atlantis Communications, Inc. (Class B) .......... 1.5
Harvest Natural Resources, Inc. ...................................... 1.4
Borland Software Corp. .................................................... 1.3
Sherritt International Corp. .............................................. 1.3
Sensient Technologies Corp. ............................................ 1.3

The portfolio holdings are as of December 31, 2004 and are subject to change. A complete list of the Fund’s
portfolio securities is contained in the most recent annual or semiannual report.