HWO — Hotchkis and Wiley Value Opportunities Fund
Data updated: 2026-08-28
HWO — Hotchkis and Wiley Value Opportunities Fund. United States Mid Cap Value Equity · $898.37M AUM. Holdings, fees, performance and SEC filings.
HWO Fund Overview
HWO — Hotchkis and Wiley Value Opportunities Fund is a US mutual fund managed by Hotchkis & Wiley Funds /de/, categorised as United States Mid Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Hotchkis & Wiley Funds /de/
- Category: United States Mid Cap Value Equity
- Assets under management: $898.37M
- Ticker: HWO
- SEC CIK: 0001145022
- SEC series ID: S000006216
- Share class ID: C000279544
HWO Investment Objective and Strategy
Hotchkis and Wiley Value Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Hotchkis & Wiley Funds /de/.
Investment objective
The Fund seeks capital appreciation.
Principal investment strategy
The Fund normally invests in equity securities, such as common stock, preferred stock and convertible securities, of any size market capitalization, and investment grade and high yield (junk bonds) fixed income securities. Hotchkis & Wiley Capital Management, LLC (the Advisor) selects companies that it believes have strong capital appreciation potential. The Fund may invest in foreign (non-U.S.) securities. The Funds investments in foreign securities may be direct investments or in the form of American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). The Fund may enter into currency contracts (such as spot, forward and futures) to hedge foreign currency exposure. The Fund may also use futures, options, swaps and other derivatives (a financial contract with a value that depends on, or is derived from, the value of an underlying asset, reference rate or index) as a substitute for taking a position in the underlying asset, as part of a strategy designed to reduce exposure to other risks and/or to manage cash.
The Fund is classified as a non-diversified fund under the Investment Company Act of 1940, which means that a relatively high percentage of the Funds assets may be invested in a limited number of issuers. The Fund seeks to invest in companies whose future prospects are misunderstood or not fully recognized by the market. The Fund employs a fundamental value investing approach which seeks to exploit market inefficiencies created by irrational investor behavior, such as investment decisions driven by emotions, biases, or cognitive errors. To identify these investment opportunities, the Fund employs a disciplined, bottom-up investment process highlighted by rigorous, internally-generated fundamental research. As part of the Advisor's investment process, the investment team evaluates the general and industry-specific Environmental, Social, and Governance (ESG) factors that the Advisor believes to be the most financially material to a company's short-, medium-, and long-term enterprise value.
The Advisor believes this evaluation contributes to its overall analysis of a companys value creation for shareholders and future financial performance. The Fund does not employ predetermined rules for sales; rather, the Fund evaluates each sell candidate based on the candidates specific risk and return characteristics which include: 1) relative valuation; 2) fundamental operating trends; 3) deterioration of fundamentals; and 4) portfolio diversification. Relative valuation involves selling an investment when a companys valuation metrics become high relative to comparable companies, the market, or its historical levels. Fundamental operating trends involves selling an investment when there is evidence of a decline in a companys underlying business performance or industry conditions. Deterioration of fundamentals involves selling an investment when a companys underlying business or industry fundamentals, such as revenue or earnings, weaken.
Portfolio diversification refers to selling holdings to maintain balance, manage risk, and optimize returns. As of the date of this Prospectus, the top sector represented by the Funds underlying investments was information technology. The Funds investments in various sectors may change over time.
HWO Holdings
Top 10 holdings of Hotchkis and Wiley Value Opportunities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Workday Inc | 11.71% |
| Mount Vernon Liquid Assets Portfolio, LLC | 5.31% |
| Fuso Chemical Co Ltd | 5.29% |
| PPG Industries Inc | 4.88% |
| Ericsson | 4.19% |
| SLM Corp | 3.77% |
| F5 Inc | 3.64% |
| Microsoft Corp | 3.15% |
| Olin Corp | 2.89% |
| Stagwell Inc | 2.70% |
HWO Portfolio Allocation
Asset-class allocation of Hotchkis and Wiley Value Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.7% |
| Cash & Equivalents | 6.4% |
| Loans | 0.2% |
HWO Performance
Total returns for HWO (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 6.3% |
| 1 year | 13.7% |
| 3 years (annualised) | 15.4% |
| 5 years (annualised) | 11.1% |
HWO Risk Information
Risk metrics for HWO, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.5%
HWO Costs and Fees
HWO costs about $90 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.90%
- Gross expense ratio: 0.93%
- Portfolio turnover: 59%
- Brokerage commissions: 9.04 bps of average net assets (SEC N-CEN)
HWO Cashflows
Over the 12 months to 2026-06, Hotchkis and Wiley Value Opportunities Fund had net inflows of $124.78M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $38.20M |
| 2026-05 | $20.42M |
| 2026-04 | −$158.06K |
| 2026-03 | −$2.23M |
| 2026-02 | $4.01M |
| 2026-01 | $15.91M |
HWO Debt Constituents
No individual debt constituents are reported in Hotchkis and Wiley Value Opportunities Fund's latest SEC N-PORT filing.
HWO Prospectus and SEC Filings
Official Hotchkis and Wiley Value Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-08-28
- Prospectus (485BPOS) — filed 2026-06-30
- Prospectus supplement (497) — filed 2026-07-20
- Portfolio holdings (N-PORT) — filed 2026-08-11
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-06
- Annual census (N-CEN) — filed 2025-09-11
- Annual census (N-CEN) — filed 2024-09-04
Related Funds
Other United States Mid Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.