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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining a disciplined, value-focused approach amidst elevated broader market valuations."
In Q3 2025, the Hotchkis & Wiley Mid-Cap Value Fund outperformed the Russell Midcap Value Index with a return of 7.74% versus 6.18%. Relative outperformance was primarily driven by stock selection and an overweight position in energy, alongside positive contributions from materials, consumer discretionary, and underweights in consumer staples and real estate. Technology and industrials detracted. On a macro level, strong market performance was fueled by AI optimism, a 25 basis point Fed rate cut, and solid corporate earnings, though elevated valuations and a softening labor market warrant ongoing caution. The manager highlighted positive developments in individual holdings like APA Corp., Warner Bros. Discovery, and Olin Corp., while discussing attractive valuation opportunities in detractors like Fluor, WPP, and Centene.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Growth Outlook
Market outlook remains above average conviction: The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Risk Appetite
Risk appetite posture is moderate conviction: The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Forward Guidance
Forward guidance signal: The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Language Signal
Tone analysis indicates above average conviction language: The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Perceived Risk
Perceived risk level is evaluated as above average conviction. The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
Time Horizon
Investment time horizon reflects a high conviction orientation. The Hotchkis & Wiley Mid-Cap Value Fund returned 7.74% in Q3 2025, outperforming its benchmark through strong stock selection in energy and consumer discretionary while maintaining...
