Updated

A portfolio manager at Heartland Advisors is urging investors to look past Wall Street's enthusiasm for artificial intelligence and focus instead on more traditional value plays—companies in practical sectors like HVAC, fire safety, and insurance that can adopt AI technology incrementally as costs decline. The commentary reflects a growing divide among asset managers between those betting heavily on the AI narrative and those seeking uncorrelated returns through defensive, cash-generative businesses exposed to AI at the margins.