ETFsTOP TEN HOLDINGS (%)1
| TOP TEN HOLDINGS (%)1 | Portfolio |
|---|---|
| Workday Inc. | 11.7 |
| Fuso Chemical Co. NPV | 5.2 |
| PPG Industries Inc. | 4.9 |
| Ericsson | 4.2 |
| SLM Corp. | 3.8 |
| F5 Inc. | 3.6 |
| Microsoft Corp. | 3.1 |
| Olin Corp. | 2.9 |
| Stagwell Inc. | 2.7 |
| Dominion Energy Inc. | 2.4 |
| SECTOR ALLOCATION (%)1 | PORTFOLIO | COMPARED TO RUSSELL 3000 VALUE2 |
|---|---|---|
| Information Technology | 27.2 | 15.7 |
| Materials | 14.3 | 9.8 |
| Energy | 11.6 | 3.8 |
| Communication Services | 7.4 | -0.3 |
| Utilities | 2.4 | -2.3 |
| Real Estate | 1.4 | -2.8 |
| Consumer Staples | 3.6 | -3.7 |
| Industrials | 9.7 | -3.7 |
| Consumer Discretionary | 2.9 | -4.2 |
| Health Care | 5.9 | -5.8 |
| Financials | 12.5 | -7.7 |
| Portfolio Characteristics | Portfolio | Russell 3000 Value |
|---|---|---|
| Price/Normal Earnings | 8.7x | 17.9x |
| Forward Price/Earnings (fiscal year) | 11.5x | 16.2x |
| Price/Book | 2.2x | 3.1x |
| Weighted Avg Market Cap ($M) | $196,564 | $647,950 |
| Median Market Cap ($M) | $23,468 | $2,780 |
| Number of Issuers | 63 | 2,276 |
| Turnover (5 Yr Avg) | 72% | |
| Active Share (5 Yr Avg) | 94 |
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
As of 7/1/26, the Value Opportunities Fund’s name changed to Opportunities Fund. There were no changes to the objectives, strategy, or fees of the Fund.
The Opportunities Fund offers both mutual fund share classes and an 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 Opportunities 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 is non-diversified and may invest in foreign securities, junk bonds, derivatives, or small/mid cap companies. 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.
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.
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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