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This video is for general information purposes and should not be used as the sole basis to make any investment decision. Views expressed are not intended to be relied upon as research regarding a particular industry, investment or the markets in general, nor is it intended to predict performance of any investment or serve as a recommendation to buy or sell securities.

The portfolio manager’s views and opinions expressed are as of June 21, 2024. Such views are subject to change without notice and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments may include estimated and/or forecasted views, which are believed to be based on reasonable assumptions within the bounds of current and historical information. However, there is no guarantee that any estimates, forecasts or views will be realized. In the event of new information or changed circumstances, Hotchkis & Wiley ("H&W") reserves the right to change its investment perspective and outlook and has no obligation to provide revised assessments and/or opinions.

Securities mentioned are for illustration purposes only and should not be considered as investment recommendations. There is no assurance that any securities identified, or all investment decisions by H&W were or will be profitable.

All investments contain risk and may lose value. Investing in smaller, medium-sized and/or newer companies involves greater risks not associated with investing in large company stocks, such as business risk, significant stock price fluctuations and illiquidity. Investing in foreign as well as emerging markets involves additional risk such as greater volatility, political, economic, and currency risks and differences in accounting methods. Investing in equity securities have greater risks and price volatility than U.S. Treasuries and bonds, where the price of these securities may decline due to various company, industry, and market factors. A value-oriented investment approach involves the risk that value stocks may remain undervalued or may not appreciate in value as anticipated. Value stocks can perform differently from the market as a whole or from other types of stocks and may be out of favor with investors and underperform growth stocks for varying periods of time.

The Russell 2000® Value Index measures the performance of those Russell 2000® companies with lower price-to-book ratios and lower forecasted growth values. Russell Investment Group is the source and owner of the Russell Index data contained herein (and all trademarks related thereto), which may not be redistributed. The information herein is not approved by Russell.  Sectors are based on Global Industry Classification Standard by MSCI and S&P.

Information obtained from independent sources is considered reliable, but H&W cannot guarantee its accuracy or completeness. Certain information contained in this material represents or is based upon forward-looking statements. Due to various risks and uncertainties, actual events/results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance or a representation as to the future. H&W is not responsible for any damages or losses arising from any use of this information.

Past performance is not indicative of future performance.

©2025 Hotchkis & Wiley. All rights reserved. No portion of this video may be published, reproduced or transmitted in any form without the express written permission of H&W.

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As of 10/1/24, the name of the strategy changed from Large Cap Diversified Value to Large Cap Disciplined Value; there were no additional changes.

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All investments contain risk and may lose value. Past performance is not indicative of future performance. This article is for general information only and should not be relied on for investment advice or recommendation of any particular security, strategy, or investment product.

The portfolio manager’s views and opinions expressed in this article are as of May 31, 2024. Such views are subject to change without notice and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments may include estimated and/or forecasted views, which are believed to be based on reasonable assumptions within the bounds of current and historical information. However, there is no guarantee that any estimates, forecasts or views will be realized. The article may also contain views that are forward-looking statements. Due to various risks and uncertainties, actual events/results or the performance of the Large Cap Diversified Value strategy may differ materially from those reflected or contemplated in such forward-looking statements.

 

Investment returns include reinvestment of dividends, interest and capital gains. Valuation is based on trade-date information and stated in U.S. dollars. Net performance results are presented after actual management fees and all trading expenses but before custodial fees. The Large Cap Disciplined Value strategy’s returns for different time periods and market cycles can result in significantly different performance results. An account’s investment guidelines, timing of transactions, market conditions at the time of investment and other factors may lead to different performance results. The Composite includes all Large Cap Disciplined Value discretionary accounts. The Large Cap Disciplined Value strategy seeks capital appreciation primarily through investments in equity securities of large capitalization companies and may invest in foreign (non-U.S.) securities. Additional performance disclosures are included in the strategy’s GIPS Report.

The securities highlighted in this article are intended to be for illustrative purposes only. Any discussion or view of a security, an asset class/segment, industry/sector and/or investment type are not investment recommendations, should not be assumed to be profitable, and are subject to change without notice. There is no assurance that the securities discussed will remain in the portfolio or that securities sold have not been repurchased. The securities discussed do not represent the entire portfolio and may only represent a small portion of the portfolio. In the event of new information or changed circumstances, H&W reserves the right to change its investment perspective and outlook and has no obligation to provide revised assessments and/or opinions.

Holdings and/or characteristics are based on a representative portfolio of the Large Cap Diversified Value Strategy. This information may vary by portfolio due to different restrictions, cash flows, and other relevant considerations. The portfolio is selected based on factors determined by Advisor to be “representative” of the strategy, considering such factors as (but not limited to) investment guidelines/restrictions, time period under Advisor’s discretion, and/or cash flow activities.

The Russell 1000® Value Index measures the performance of those Russell 1000® companies with lower price-to-book ratios and lower forecasted growth values. The Russell 1000® Growth Index measures the performance of those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values. The S&P 500® Index is a broad-based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Russell Investment Group is the source and owner of the Russell Index data contained herein (and all trademarks related thereto), which may not be redistributed. The information herein is not approved by Russell.  H&W and Russell sectors are based on the Global Industry Classification Standard by MSCI and S&P. It is not possible to invest directly in an index.

Investing in equity securities have greater risks and price volatility than U.S. Treasuries and bonds, where the price of these securities may decline due to various company, industry, and market factors. Investing in foreign as well as emerging markets involves additional risk such as greater volatility, political, economic, and currency risks and differences in accounting methods. A value-oriented investment approach involves the risk that value stocks may remain undervalued or may not appreciate in value as anticipated. Value stocks can perform differently from the market as a whole or from other types of stocks and may be out of favor with investors and underperform growth stocks for varying periods of time.

©2025 Hotchkis & Wiley. All rights reserved. No portion of the article may be published, reproduced, transmitted or rebroadcast in any form without the express written permission of H&W.

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You should consider the Hotchkis & Wiley Mid-Cap Value Fund’s investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund's summary prospectus and prospectuswhich can be obtained by calling 800-796-5606. Read carefully before you invest.

Investing in small and medium-sized companies involves greater risks than those associated with investing in large company stocks. Please read the fund prospectus for a full list of fund risks. All investments contain risk and may lose value. Equities, bonds, and other asset classes have different risk profiles, which should be considered when investing.    

This material is for general information purposes and should not be used as the sole basis to make any investment decision. Views expressed are not intended to be relied upon as research regarding a particular industry, investment or the markets in general, nor is it intended to predict performance of any investment or serve as a recommendation to buy or sell securities. Hotchkis & Wiley (“H&W”) is not responsible for any damages or losses arising from any use of this information.

The portfolio manager’s views and opinions expressed are as of May 17, 2024. Such views are subject to change without notice and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments may include estimated and/or forecasted views, which are believed to be based on reasonable assumptions within the bounds of current and historical information. However, there is no guarantee that any estimates, forecasts or views will be realized. In the event of new information or changed circumstances, H&W reserves the right to change its investment perspective and outlook and has no obligation to provide revised assessments and/or opinions.

Information obtained from independent sources is considered reliable, but H&W cannot guarantee its accuracy or completeness. Certain information contained in this material represents or is based upon forward-looking statements. Due to various risks and uncertainties, actual events/results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance or a representation as to the future.

Top ten holdings as of 3/31/25 as a % of the Fund’s net assets‌: ‌APA Corp. 4.4%, F5 Inc. 4.0%, Popular Inc. 4.0%, Ericsson 3.7%, Citizens Fin'l Group Inc. 3.3%, American Int'l Group Inc. 3.3%, Fluor Corp. 2.9%, Kosmos Energy Ltd. 2.9%, Olin Corp. 2.6%, and Magna International Inc. 2.5%. Fund holdings and/or sector allocations are subject to change and are not recommendations to buy or sell any security. References to other mutual funds or discussion of individual companies should not be considered an offer to buy or sell these securities.

The WilderHill Clean Energy Index is a modified equal weighted index comprised of companies that are publicly traded in the United States and that are engaged in the business of the advancement of cleaner energy and conservation. It is not possible to invest directly in an index; Earnings yield is earnings per share from the previous four quarters divided by the share price; Dividend yield is a measurement comparing a company's stock price to the dividend it pays investors; Earnings growth is not representative of the fund's future performance; Free cash flow represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets; Free cash flow yield is the ratio between the cash generated from the core operations of a company relative to its valuation; LNG (Liquefied Natural Gas). Diversification does not assure a profit nor protect against loss in a declining market.

Past performance is not indicative of future performance.

Mutual fund investing involves risk. Principal loss is possible.
The Hotchkis & Wiley Funds are distributed by Quasar Distributors, LLC
No other products mentioned in this piece are distributed by Quasar Distributors, LLC.

©2025 Hotchkis & Wiley. All rights reserved. No portion of this article may be published, reproduced or transmitted in any form without the express written permission of H&W.

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