ETFs| TOP TEN HOLDINGS (%)1 | Portfolio |
|---|---|
| Akzo Nobel N.V. | 4.7 |
| SAP SE | 4.1 |
| Fuso Chemical Co. NPV | 4.0 |
| Shell PLC | 3.4 |
| TotalEnergies SE | 3.3 |
| Ericsson | 3.3 |
| Henkel AG & Co. KGaA | 3.2 |
| Qantas Airways Ltd. | 3.1 |
| BNP Paribas SA | 3.0 |
| Heineken Hldg N.V. | 3.0 |
PORTFOLIO ALLOCATION (%)1
| PORTFOLIO ALLOCATION (%)1 | |
|---|---|
| Continental Europe | 53.3% |
| United Kingdom | 18.0% |
| Japan | 9.5% |
| Americas | 9.0% |
| Other | 9.4% |
| SECTOR ALLOCATION (%)1 | PORTFOLIO | COMPARED TO MSCI WORLD EX-USA VALUE2 |
|---|---|---|
| Information Technology | 11.0 | 8.9 |
| Materials | 12.6 | 5.8 |
| Industrials | 14.3 | 5.4 |
| Consumer Discretionary | 10.3 | 5.0 |
| Communication Services | 6.1 | 2.1 |
| Consumer Staples | 8.3 | 0.6 |
| Energy | 10.5 | -0.3 |
| Health Care | 6.0 | -0.7 |
| Real Estate | 0.0 | -2.3 |
| Utilities | 2.3 | -4.2 |
| Financials | 17.7 | -21.2 |
| Portfolio Characteristics | Portfolio | MSCI World ex-USA Value |
|---|---|---|
| Price/Normal Earnings | 10.8x | 13.6x |
| Forward Price/Earnings (fiscal year) | 11.7x | 12.1x |
| Price/Book | 1.9x | 1.7x |
| Weighted Avg Market Cap ($M) | $112,866 | $109,405 |
| Median Market Cap ($M) | $32,329 | $20,904 |
| Number of Securities | 56 | 446 |
| Turnover (5 Yr Avg) | 28% | |
| Active Share (5 Yr Avg) | 89 |
1 % of total portfolio includes total investments, cash and cash equivalents, and accrued investment income on a trade date basis.
2 As of 3/31/26
The International Value Fund offers both a mutual fund share class and ETF share class, invested in the same portfolio of securities. ETF shares are listed and traded on a national securities exchange and are not individually redeemable, unlike mutual fund shares. An investment in an ETF share class is not an investment in a mutual fund share class.
You should consider the Hotchkis & Wiley International 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 prospectus, which can be obtained by calling 800-796-5606. Read carefully before you invest.
Investing involves risk. Principal loss is possible. The Fund may invest in foreign and emerging markets securities, which subjects the Fund to increased risk. Please read the fund prospectus for a full list of fund risks.
Diversification does not assure a profit nor protect against loss in a declining market.
Information on the Fund’s holdings and portfolio characteristics is subject to its portfolio holdings disclosure policy. Such information may be obtained through the Funds’ website or by calling 800-796-5606. Fund holdings and/or sector allocations are subject to change and are not buy/sell recommendations. Information presented based on proprietary or third-party estimates are subject to change and cannot be guaranteed.
H&W and MSCI sectors are based on the Global Industry Classification Standard by MSCI and S&P. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI. See Index definitions for full disclaimer.
ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a premium or discount to its net asset value (NAV), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF’s ability to sell its shares. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
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The Morningstar Style BoxTM reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the long stocks owned and the horizontal axis shows investment style (value, blend, or growth). A darkened square in the style box indicates the weighted average style of the portfolio.
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