# EDGAR Filing Document

**Accession Number:** 0001145022
**File Stem:** 0000894189-26-014286
**Filing Date:** 2026-5
**Character Count:** 8175
**Document Hash:** 5350c3b7aac98dc9b2354608d1106ed5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-014286.hdr.sgml**: 20260501

**ACCESSION NUMBER**: 0000894189-26-014286

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260501

**DATE AS OF CHANGE**: 20260501

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HOTCHKIS & WILEY FUNDS /DE/
- **CENTRAL INDEX KEY:** 0001145022

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-68740
- **FILM NUMBER:** 26932219

**BUSINESS ADDRESS:**
- **STREET 1:** 601 SOUTH FIGUEROA STREET
- **STREET 2:** 39TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90017-5704
- **BUSINESS PHONE:** 2134301000

**MAIL ADDRESS:**
- **STREET 1:** 601 SOUTH FIGUEROA STREET
- **STREET 2:** 39TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90017-5704

## Series and Classes Contracts Data

### Hotchkis & Wiley Large Cap Disciplined Value Fund (Series ID: S000006212)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWCIX         | C000017123 |
| Class A    | HWCAX         | C000017124 |
| Class Z    | nan           | C000205766 |

---

### Hotchkis & Wiley Large Cap Fundamental Value Fund (Series ID: S000006213)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWLIX         | C000017126 |
| Class A    | HWLAX         | C000017127 |
| Class Z    | HWLZX         | C000205767 |

---

### Hotchkis & Wiley Mid-Cap Value Fund (Series ID: S000006214)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWMIX         | C000017130 |
| Class A    | HWMAX         | C000017131 |
| Class Z    | HWMZX         | C000205768 |

---

### Hotchkis & Wiley Small Cap Value Fund (Series ID: S000006215)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWSIX         | C000017134 |
| Class A    | HWSAX         | C000017135 |
| Class C    | HWSCX         | C000017136 |
| Class Z    | HWSZX         | C000205769 |

---

### Hotchkis & Wiley Global Value Fund (Series ID: S000039502)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWGIX         | C000121672 |
| Class A    | HWGAX         | C000121673 |
| Class Z    | nan           | C000205772 |

---

### Hotchkis & Wiley Small Cap Diversified Value Fund (Series ID: S000045868)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWVIX         | C000142947 |
| Class A    | HWVAX         | C000142948 |
| Class Z    | HWVZX         | C000205773 |

---

### Hotchkis and Wiley International Value Fund (Series ID: S000052191)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | HWNIX         | C000164215 |
| Class A    | nan           | C000164216 |
| Class Z    | nan           | C000205774 |

---

### Hotchkis and Wiley International Small Cap Diversified Value Fund (Series ID: S000068938)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class Z    | nan           | C000220293 |
| Class I    | HWTIX         | C000220294 |
| Class A    | nan           | C000220295 |

---

### Hotchkis & Wiley SMID Cap Diversified Value Fund (Series ID: S000091359)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                       | Ticker Symbol | Class ID   |
| Hotchkis & Wiley SMID Cap Diversified Value Fund | HWSM          | C000259016 |

---

## Series and Classes Contracts Data

### Hotchkis & Wiley Large Cap Disciplined Value Fund (Series ID: S000006212)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017123 | Class I      | HWCIX           |
| C000017124 | Class A      | HWCAX           |
| C000205766 | Class Z      |  |

### Hotchkis & Wiley Large Cap Fundamental Value Fund (Series ID: S000006213)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017126 | Class I      | HWLIX           |
| C000017127 | Class A      | HWLAX           |
| C000205767 | Class Z      | HWLZX           |

### Hotchkis & Wiley Mid-Cap Value Fund (Series ID: S000006214)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017130 | Class I      | HWMIX           |
| C000017131 | Class A      | HWMAX           |
| C000205768 | Class Z      | HWMZX           |

### Hotchkis & Wiley Small Cap Value Fund (Series ID: S000006215)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017134 | Class I      | HWSIX           |
| C000017135 | Class A      | HWSAX           |
| C000017136 | Class C      | HWSCX           |
| C000205769 | Class Z      | HWSZX           |

### Hotchkis & Wiley Global Value Fund (Series ID: S000039502)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000121672 | Class I      | HWGIX           |
| C000121673 | Class A      | HWGAX           |
| C000205772 | Class Z      |  |

### Hotchkis & Wiley Small Cap Diversified Value Fund (Series ID: S000045868)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000142947 | Class I      | HWVIX           |
| C000142948 | Class A      | HWVAX           |
| C000205773 | Class Z      | HWVZX           |

### Hotchkis and Wiley International Value Fund (Series ID: S000052191)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000164215 | Class I      | HWNIX           |
| C000164216 | Class A      |  |
| C000205774 | Class Z      |  |

### Hotchkis and Wiley International Small Cap Diversified Value Fund (Series ID: S000068938)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000220293 | Class Z      |  |
| C000220294 | Class I      | HWTIX           |
| C000220295 | Class A      |  |

### Hotchkis & Wiley SMID Cap Diversified Value Fund (Series ID: S000091359)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000259016 | Hotchkis & Wiley SMID Cap Diversified Value Fund | HWSM            |

**HOTCHKIS AND WILEY FUNDS**

**Hotchkis & Wiley Large Cap Disciplined Value Fund**

**Hotchkis & Wiley Large Cap Fundamental Value Fund**

**Hotchkis & Wiley Mid-Cap Value Fund**

**Hotchkis & Wiley Small Cap Value Fund**

**Hotchkis & Wiley Small Cap Diversified Value Fund**

**Hotchkis & Wiley Global Value Fund**

**Hotchkis & Wiley International Value Fund**

**Hotchkis & Wiley International Small Cap Diversified Value Fund**

**Hotchkis & Wiley SMID Cap Diversified Value Fund**

(each a "Fund")

*Supplement dated May 1, 2026 to the* 

*Summary and Statutory Prospectuses and Statement of Additional Information ("SAI")*

*<u>dated August 29, 2025, as supplemented</u>*

The Board of Trustees of Hotchkis and Wiley Funds has approved a new non-fundamental investment policy for each Fund in connection with amendments adopted by the Securities and Exchange Commission to Rule 35d-1 under the Investment Company Act of 1940, as amended.

Effective July 1, 2026, the following disclosure will be added to each Fund's Prospectus under the "Principal Investment Strategy" section:

The Fund will normally invest at least 80% of assets in securities of value companies. Value companies are companies the Advisor believes are undervalued in the marketplace. The Advisor considers traditional and other measures of value, such as (1) whether the company is included in a third-party value benchmark; (2) whether the company falls below the relevant equity market index average for any "value" metric, such as price-to-earnings ratio; price-to-book value ratio; price-to-cash flow ratio; price-to-sales ratio; or enterprise value-to-EBIT, among others; or (3) in the judgment of the portfolio managers, the company otherwise exhibits characteristics consistent with value companies, even if it does not meet one of the specific value criteria described above.

**Please retain this supplement for future reference.**

<br>