# EDGAR Filing Document

**Accession Number:** 0001145022
**File Stem:** 0000894189-25-014430
**Filing Date:** 2025-11
**Character Count:** 38034
**Document Hash:** 93655464d9f9b892de269bc22168e29b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014430.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000894189-25-014430

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20260630

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10487
- **FILM NUMBER:** 251514158

**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 and Wiley International Value Fund (Series ID: S000052191)

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

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Hotchkis & Wiley International Value Fund** | **Hotchkis & Wiley International Value Fund** | **Hotchkis & Wiley International Value Fund** | **Hotchkis & Wiley International Value Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 95.8%** | **COMMON STOCKS - 95.8%** | **Shares** | **Value**  |
| **Aerospace & Defense - 2.2%** | **Aerospace & Defense - 2.2%** | **Aerospace & Defense - 2.2%** | |
| Airbus SE | Airbus SE | 450 | $105087 |
| **Automobile Components - 2.1%** | **Automobile Components - 2.1%** | **Automobile Components - 2.1%** |  |
| Magna International, Inc. | Magna International, Inc. | 2092 | 99119 |
| **Automobiles - 0.9%** | **Automobiles - 0.9%** | **Automobiles - 0.9%** |  |
| Mercedes-Benz Group AG | Mercedes-Benz Group AG | 665 | 41915 |
| **Banks - 16.0%** | **Banks - 16.0%** | **Banks - 16.0%** |  |
| ABN AMRO Bank NV <sup>(a)</sup> | ABN AMRO Bank NV <sup>(a)</sup> | 2400 | 76991 |
| Banca Monte dei Paschi di Siena SpA | Banca Monte dei Paschi di Siena SpA | 10530 | 93698 |
| Banco Santander SA | Banco Santander SA | 5570 | 58454 |
| Barclays PLC | Barclays PLC | 19682 | 101270 |
| BNP Paribas SA | BNP Paribas SA | 1474 | 134817 |
| ING Groep NV | ING Groep NV | 3342 | 87613 |
| Lloyds Banking Group PLC | Lloyds Banking Group PLC | 84300 | 95393 |
| NatWest Group PLC | NatWest Group PLC | 6584 | 46505 |
| Societe Generale SA | Societe Generale SA | 1056 | 70305 |
|  |  |  | 765046 |
| **Beverages - 4.7%** | **Beverages - 4.7%** | **Beverages - 4.7%** |  |
| Arca Continental SAB de CV | Arca Continental SAB de CV | 6700 | 70371 |
| Heineken Holding NV | Heineken Holding NV | 2237 | 153600 |
|  |  |  | 223971 |
| **Capital Markets - 3.0%** | **Capital Markets - 3.0%** | **Capital Markets - 3.0%** |  |
| IGM Financial, Inc. | IGM Financial, Inc. | 1300 | 47322 |
| Julius Baer Group Ltd. | Julius Baer Group Ltd. | 1400 | 97485 |
|  |  |  | 144807 |
| **Chemicals - 9.0%** | **Chemicals - 9.0%** | **Chemicals - 9.0%** |  |
| Akzo Nobel NV | Akzo Nobel NV | 2350 | 167715 |
| Fuso Chemical Co. Ltd. | Fuso Chemical Co. Ltd. | 4400 | 145560 |
| Nippon Sanso Holdings Corp. | Nippon Sanso Holdings Corp. | 3300 | 116872 |
|  |  |  | 430147 |
| **Communications Equipment - 4.4%** | **Communications Equipment - 4.4%** | **Communications Equipment - 4.4%** |  |
| Nokia Oyj | Nokia Oyj | 4315 | 20750 |
| Telefonaktiebolaget LM Ericsson - Class B | Telefonaktiebolaget LM Ericsson - Class B | 23179 | 192061 |
|  |  |  | 212811 |
| **Energy Equipment & Services - 0.9%** | **Energy Equipment & Services - 0.9%** | **Energy Equipment & Services - 0.9%** |  |
| Subsea 7 SA | Subsea 7 SA | 2185 | 45338 |
| **Food Products - 2.6%** | **Food Products - 2.6%** | **Food Products - 2.6%** |  |
| JDE Peet's NV | JDE Peet's NV | 3385 | 124188 |
| **Health Care Equipment & Supplies - 3.9%** | **Health Care Equipment & Supplies - 3.9%** | **Health Care Equipment & Supplies - 3.9%** |  |
| Koninklijke Philips NV | Koninklijke Philips NV | 3454 | 94619 |
| Siemens Healthineers AG <sup>(a)</sup> | Siemens Healthineers AG <sup>(a)</sup> | 1700 | 92083 |
|  |  |  | 186702 |
| **Hotels, Restaurants & Leisure - 3.9%** | **Hotels, Restaurants & Leisure - 3.9%** | **Hotels, Restaurants & Leisure - 3.9%** |  |
| Accor SA | Accor SA | 2320 | 110225 |
| Lottomatica Group SpA | Lottomatica Group SpA | 2900 | 78050 |
|  |  |  | 188275 |
| **Household Durables - 1.4%** | **Household Durables - 1.4%** | **Household Durables - 1.4%** |  |
| Panasonic Holdings Corp. | Panasonic Holdings Corp. | 6100 | 66210 |
| **Household Products - 4.0%** | **Household Products - 4.0%** | **Household Products - 4.0%** |  |
| Henkel AG & Co. KGaA | Henkel AG & Co. KGaA | 2610 | 193732 |
| **Industrial Conglomerates - 4.7%** | **Industrial Conglomerates - 4.7%** | **Industrial Conglomerates - 4.7%** |  |
| Siemens AG | Siemens AG | 440 | 118791 |
| Smiths Group PLC | Smiths Group PLC | 3295 | 104468 |
|  |  |  | 223259 |
| **Insurance - 1.9%** | **Insurance - 1.9%** | **Insurance - 1.9%** |  |
| Tokio Marine Holdings, Inc. | Tokio Marine Holdings, Inc. | 1100 | 46556 |
| Zurich Insurance Group AG | Zurich Insurance Group AG | 64 | 45746 |
|  |  |  | 92302 |
| **IT Services - 1.0%** | **IT Services - 1.0%** | **IT Services - 1.0%** |  |
| Capgemini SE | Capgemini SE | 315 | 45951 |
| **Machinery - 0.3%** | **Machinery - 0.3%** | **Machinery - 0.3%** |  |
| CNH Industrial NV | CNH Industrial NV | 1568 | 17013 |
| **Media - 5.1%** | **Media - 5.1%** | **Media - 5.1%** |  |
| Havas NV | Havas NV | 38855 | 71630 |
| Informa PLC | Informa PLC | 3900 | 48129 |
| RTL Group SA | RTL Group SA | 680 | 27930 |
| WPP PLC | WPP PLC | 19345 | 96430 |
|  |  |  | 244119 |
| **Metals & Mining - 0.6%** | **Metals & Mining - 0.6%** | **Metals & Mining - 0.6%** |  |
| Glencore PLC | Glencore PLC | 6085 | 28025 |
| **Multi-Utilities - 1.5%** | **Multi-Utilities - 1.5%** | **Multi-Utilities - 1.5%** |  |
| National Grid PLC | National Grid PLC | 4985 | 71628 |
| **Oil, Gas & Consumable Fuels - 8.7%** | **Oil, Gas & Consumable Fuels - 8.7%** | **Oil, Gas & Consumable Fuels - 8.7%** |  |
| Baytex Energy Corp. | Baytex Energy Corp. | 8920 | 20895 |
| Cenovus Energy, Inc. | Cenovus Energy, Inc. | 1775 | 30138 |
| Kosmos Energy Ltd. <sup>(b)</sup> | Kosmos Energy Ltd. <sup>(b)</sup> | 15788 | 26208 |
| Shell PLC | Shell PLC | 4437 | 159144 |
| Suncor Energy, Inc. | Suncor Energy, Inc. | 1165 | 48753 |
| TotalEnergies SE | TotalEnergies SE | 2170 | 132172 |
|  |  |  | 417310 |
| **Passenger Airlines - 2.6%** | **Passenger Airlines - 2.6%** | **Passenger Airlines - 2.6%** |  |
| Qantas Airways Ltd. | Qantas Airways Ltd. | 17415 | 125837 |
| **Personal Care Products - 0.9%** | **Personal Care Products - 0.9%** | **Personal Care Products - 0.9%** |  |
| Unilever PLC | Unilever PLC | 713 | 42144 |
| **Pharmaceuticals - 2.7%** | **Pharmaceuticals - 2.7%** | **Pharmaceuticals - 2.7%** |  |
| AstraZeneca PLC | AstraZeneca PLC | 590 | 90389 |
| GSK PLC | GSK PLC | 1767 | 37941 |
|  |  |  | 128330 |
| **Professional Services - 1.9%** | **Professional Services - 1.9%** | **Professional Services - 1.9%** |  |
| Randstad NV | Randstad NV | 2155 | 91888 |
| **Semiconductors & Semiconductor Equipment - 2.8%** | **Semiconductors & Semiconductor Equipment - 2.8%** | **Semiconductors & Semiconductor Equipment - 2.8%** |  |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 285 | 79598 |
| Tokyo Electron Ltd. | Tokyo Electron Ltd. | 300 | 53180 |
|  |  |  | 132778 |
| **Textiles, Apparel & Luxury Goods - 0.8%** | **Textiles, Apparel & Luxury Goods - 0.8%** | **Textiles, Apparel & Luxury Goods - 0.8%** |  |
| Burberry Group PLC <sup>(b)</sup> | Burberry Group PLC <sup>(b)</sup> | 2460 | 38862 |
| **Wireless Telecommunication Services - 1.3%** | **Wireless Telecommunication Services - 1.3%** | **Wireless Telecommunication Services - 1.3%** |  |
| Vodafone Group PLC | Vodafone Group PLC | 53741 | 62496 |
| **TOTAL COMMON STOCKS** (Cost $3,722,658) | **TOTAL COMMON STOCKS** (Cost $3,722,658) | **TOTAL COMMON STOCKS** (Cost $3,722,658) | 4589290 |
| **PREFERRED STOCKS - 1.0%** | **PREFERRED STOCKS - 1.0%** | **Shares** | **Value**  |
| **Automobiles - 1.0%** | **Automobiles - 1.0%** | **Automobiles - 1.0%** |  |
|  Bayerische Motoren Werke AG, 0.00% | Bayerische Motoren Werke AG, 0.00% | 511 | 47598 |
| **TOTAL PREFERRED STOCKS** (Cost $35,839) | **TOTAL PREFERRED STOCKS** (Cost $35,839) | **TOTAL PREFERRED STOCKS** (Cost $35,839) | 47598 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 2.9%** | **MONEY MARKET FUNDS - 2.9%** | **Shares** | **Value**  |
| First American Government Obligations Fund - Class X, 4.05%<sup>(c)</sup> | First American Government Obligations Fund - Class X, 4.05%<sup>(c)</sup> | 139065 | 139065 |
| **TOTAL MONEY MARKET FUNDS** (Cost $139,065) | **TOTAL MONEY MARKET FUNDS** (Cost $139,065) | **TOTAL MONEY MARKET FUNDS** (Cost $139,065) | 139065 |
| **TOTAL INVESTMENTS - 99.7% (**Cost $3,897,562**)** | **TOTAL INVESTMENTS - 99.7% (**Cost $3,897,562**)** | **TOTAL INVESTMENTS - 99.7% (**Cost $3,897,562**)** | 4775953 |
| Other Assets in Excess of Liabilities - 0.3% | Other Assets in Excess of Liabilities - 0.3% | Other Assets in Excess of Liabilities - 0.3% | 13028 |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $4788981 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets.<br>Par amount is in USD unless otherwise indicated. | Percentages are stated as a percent of net assets.<br>Par amount is in USD unless otherwise indicated. | Percentages are stated as a percent of net assets.<br>Par amount is in USD unless otherwise indicated. | –% |
| The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by MSCI, an independent provider of global indices and benchmark-related products and services, and Standard & Poor's (S&P), an independent international financial data and investment services company. The GICS methodology has been widely accepted as an industry analysis framework for investment research, portfolio management and asset allocation. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries. Each stock that is classified will have a coding at all four of these levels. | The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by MSCI, an independent provider of global indices and benchmark-related products and services, and Standard & Poor's (S&P), an independent international financial data and investment services company. The GICS methodology has been widely accepted as an industry analysis framework for investment research, portfolio management and asset allocation. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries. Each stock that is classified will have a coding at all four of these levels. | The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by MSCI, an independent provider of global indices and benchmark-related products and services, and Standard & Poor's (S&P), an independent international financial data and investment services company. The GICS methodology has been widely accepted as an industry analysis framework for investment research, portfolio management and asset allocation. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries. Each stock that is classified will have a coding at all four of these levels. | The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by MSCI, an independent provider of global indices and benchmark-related products and services, and Standard & Poor's (S&P), an independent international financial data and investment services company. The GICS methodology has been widely accepted as an industry analysis framework for investment research, portfolio management and asset allocation. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries. Each stock that is classified will have a coding at all four of these levels. |

---

ADR - American Depositary Receipt <br> PLC - Public Limited Company

(a) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of September 30, 2025, the value of these securities total $169,074 or 3.5% of the Fund's net assets.

(b) Non-income producing security.

(c) The rate shown represents the 7-day annualized yield as of September 30, 2025.

------

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
Hotchkis & Wiley International Value Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $487546 | $4101744 | $– | $4589290 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Preferred Stocks | – | 47598 | – | 47598 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 139065 | – | – | 139065 |
| Total Investments | $626611 | $4149342 | $– | $4775953 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

---

| |
|:---|
| **Allocation of Portfolio Holdings by Country as of September 30, 2025** |
| (% of Net Assets) |

---

---

| | | |
|:---|:---|:---|
| United Kingdom | $1057149 | 22.1% |
| Netherlands | 796614 | 16.6 |
| France | 670187 | 14.0 |
| Germany | 494119 | 10.3 |
| Japan | 428378 | 9.0 |
| Canada | 246227 | 5.1 |
| Sweden | 192061 | 4.0 |
| Italy | 171749 | 3.6 |
| Switzerland | 171257 | 3.6 |
| Australia | 125837 | 2.6 |
| Taiwan | 79598 | 1.7 |
| Mexico | 70371 | 1.5 |
| Spain | 58453 | 1.2 |
| Luxembourg | 27930 | 0.6 |
| United States | 26208 | 0.5 |
| Finland | 20750 | 0.4 |
| Cash and Other | 152093 | 3.2 |
|  | $**4788981** | 100.0<br> **%** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** HOTCHKIS & WILEY FUNDS/DE/

- **b. Investment Company Act file number:** 811-10487

- **c. CIK number of Registrant:** 0001145022

- **d. LEI of Registrant:** 549300DFU8YF1PWZ5A57

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 601 South Figueroa Street

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90017-5704

  - **Telephone number:** 213-430-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Hotchkis and Wiley International Value Fund

- **b. EDGAR series identifier (if any):** S000052191

- **c. LEI of Series:** 549300B2CI7CY976WM57

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $4821190.04

**Total Liabilities:** $31334.60

**Net Assets:** $4789855.44

**Cash Not Reported:** $4123.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000164215 | -1.47%               | 4.82%                | 1.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $38758.06                | $-112641.15                                |
| Month 2  | $191726.33               | $19778.34                                  |
| Month 3  | $1860.34                 | $48352.96                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                            | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Banca Monte dei Paschi di Sien  | Banca Monte dei Paschi di Siena SpA       | CUSIP: N/A<br>LEI: J4CP7MHCXR8DAQMKIL78       | Long             | EC               | CORP              | IT        |     10530 | NS      | $93698.30     | 1.96%             |  |  |  | No            |                  2 | On Loan: No      |
| CNH Industrial NV               | CNH Industrial NV                         | CUSIP: N/A<br>LEI: 549300WGC2HZ5J67V817       | Long             | EC               | CORP              | GB        |      1568 | NS      | $17012.80     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Lloyds Banking Group PLC        | Lloyds Banking Group PLC                  | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               | CORP              | GB        |     84300 | NS      | $95392.61     | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Subsea 7 SA                     | Subsea 7 SA                               | CUSIP: N/A<br>LEI: 222100AIF0CBCY80AH62       | Long             | EC               | CORP              | GB        |      2185 | NS      | $45338.09     | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Magna International Inc         | Magna International Inc                   | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |      2092 | NS      | $99118.96     | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                       | Nokia Oyj                                 | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |      4315 | NS      | $20750.03     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings Inc       | Tokio Marine Holdings Inc                 | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |      1100 | NS      | $46555.47     | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                    | Glencore PLC                              | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | CH        |      6085 | NS      | $28025.23     | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC               | National Grid PLC                         | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |      4985 | NS      | $71627.80     | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group PLC              | Vodafone Group PLC                        | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |     53741 | NS      | $62495.60     | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC                         | GSK PLC                                   | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |      1767 | NS      | $37940.97     | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                | ABN AMRO Bank NV                          | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |      2400 | NS      | $76991.15     | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA              | Banco Santander SA                        | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |      5570 | NS      | $58453.53     | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Ericsson                        | Telefonaktiebolaget LM Ericsson           | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               | CORP              | SE        |     23179 | NS      | $192061.36    | 4.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuso Chemical Co Ltd            | Fuso Chemical Co Ltd                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      4400 | NS      | $145560.49    | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Panasonic Holdings Corp         | Panasonic Holdings Corp                   | CUSIP: N/A<br>LEI: 254900GE1G59KGWPHX32       | Long             | EC               | CORP              | JP        |      6100 | NS      | $66210.00     | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                    | Unilever PLC                              | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |       713 | NS      | $42144.45     | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Julius Baer Group Ltd           | Julius Baer Group Ltd                     | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |      1400 | NS      | $97485.45     | 2.04%             |  |  |  | No            |                  2 | On Loan: No      |
| WPP PLC                         | WPP PLC                                   | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | GB        |     16745 | NS      | $83468.99     | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                 | AstraZeneca PLC                           | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |       590 | NS      | $90388.62     | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co KGaA             | Henkel AG & Co KGaA                       | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EC               | CORP              | DE        |      2610 | NS      | $193732.03    | 4.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Philips NV          | Koninklijke Philips NV                    | CUSIP: N/A<br>LEI: H1FJE8H61JGM1JSGM897       | Long             | EC               | CORP              | NL        |      3454 | NS      | $94619.38     | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc              | Cenovus Energy Inc                        | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |      1775 | NS      | $30138.14     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC               | NatWest Group PLC                         | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |      6584 | NS      | $46505.10     | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Babcock International Group PL  | Babcock International Group PLC           | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |      3265 | NS      | $58738.94     | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| IGM Financial Inc               | IGM Financial Inc                         | CUSIP: 449586106<br>LEI: 254900RYHLVJNTUFDA95 | Long             | EC               | CORP              | CA        |      1300 | NS      | $47321.98     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental SAB de CV      | Arca Continental SAB de CV                | CUSIP: P0448R103<br>LEI: 254900U2BSJCQHJCXN24 | Long             | EC               | CORP              | MX        |      6700 | NS      | $70371.31     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Capgemini SE                    | Capgemini SE                              | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |       315 | NS      | $45951.51     | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Randstad NV                     | Randstad NV                               | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |      2155 | NS      | $91887.86     | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG          | Mercedes-Benz Group AG                    | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |       665 | NS      | $41915.07     | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG     | Bayerische Motoren Werke AG               | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EP               | CORP              | DE        |       511 | NS      | $47598.34     | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Accor SA                        | Accor SA                                  | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | EC               | CORP              | FR        |      2320 | NS      | $110224.44    | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG       | Zurich Insurance Group AG                 | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |        64 | NS      | $45746.13     | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                            | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       285 | NS      | $79597.65     | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Havas NV                        | Havas NV                                  | CUSIP: N/A<br>LEI: 894500L53AVOFQK7T710       | Long             | EC               | CORP              | FR        |     38855 | NS      | $71630.19     | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                    | ING Groep NV                              | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |      3342 | NS      | $87613.31     | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays PLC                    | Barclays PLC                              | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |     19682 | NS      | $101270.25    | 2.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Burberry Group PLC              | Burberry Group PLC                        | CUSIP: N/A<br>LEI: 213800PE1KEFCNFR1R50       | Long             | EC               | CORP              | GB        |      2460 | NS      | $38861.52     | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                       | Airbus SE                                 | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |       450 | NS      | $105087.00    | 2.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd               | Kosmos Energy Ltd                         | CUSIP: 500688106<br>LEI: 213800YDFJ3OT9B5P157 | Long             | EC               | CORP              | US        |     15788 | NS      | $26208.08     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                      | Siemens AG                                | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |       440 | NS      | $118790.68    | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA             | Societe Generale SA                       | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |      1056 | NS      | $70304.80     | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Sanso Holdings Corp      | Nippon Sanso Holdings Corp                | CUSIP: N/A<br>LEI: 353800F1K6653B4VPY57       | Long             | EC               | CORP              | JP        |      3300 | NS      | $116871.91    | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Qantas Airways Ltd              | Qantas Airways Ltd                        | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |     17415 | NS      | $125837.27    | 2.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd              | Tokyo Electron Ltd                        | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |       300 | NS      | $53180.09     | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                  | BNP Paribas SA                            | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |      1474 | NS      | $134816.56    | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken Holding NV             | Heineken Holding NV                       | CUSIP: N/A<br>LEI: 724500M1WJLFM9TYBS04       | Long             | EC               | CORP              | NL        |      2237 | NS      | $153599.86    | 3.21%             |  |  |  | No            |                  2 | On Loan: No      |
| RTL Group SA                    | RTL Group SA                              | CUSIP: N/A<br>LEI: 5493000C8J3C3SZYS040       | Long             | EC               | CORP              | LU        |       680 | NS      | $27930.03     | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Baytex Energy Corp              | Baytex Energy Corp                        | CUSIP: 07317Q105<br>LEI: 549300R5LTV2H7I1I079 | Long             | EC               | CORP              | CA        |      8920 | NS      | $20894.73     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Akzo Nobel NV                   | Akzo Nobel NV                             | CUSIP: N/A<br>LEI: 724500XYIJUGXAA5QD70       | Long             | EC               | CORP              | NL        |      2350 | NS      | $167714.62    | 3.50%             |  |  |  | No            |                  2 | On Loan: No      |
| JDE Peet's NV                   | JDE Peet's NV                             | CUSIP: N/A<br>LEI: 724500EHG519SE5ZRT89       | Long             | EC               | CORP              | NL        |      3385 | NS      | $124187.96    | 2.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Lottomatica Group Spa           | Lottomatica Group Spa                     | CUSIP: N/A<br>LEI: 549300R72LKEGT4EX026       | Long             | EC               | CORP              | IT        |      2900 | NS      | $78050.42     | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                | TotalEnergies SE                          | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |      2170 | NS      | $132172.12    | 2.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Smiths Group PLC                | Smiths Group PLC                          | CUSIP: N/A<br>LEI: 213800MJL6IPZS3ASA11       | Long             | EC               | CORP              | GB        |      3295 | NS      | $104468.45    | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc               | Suncor Energy Inc                         | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |      1165 | NS      | $48753.04     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Healthineers AG         | Siemens Healthineers AG                   | CUSIP: N/A<br>LEI: 529900QBVWXMWANH7H45       | Long             | EC               | CORP              | DE        |      1700 | NS      | $92082.80     | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                       | Shell PLC                                 | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |      4437 | NS      | $159144.31    | 3.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman and Co. | Royal Bank of Canada                      | CUSIP: N/A<br>LEI: 5493006KMX1VFTPYPW14       | Long             | STIV             | CORP              | US        |    139065 | PA      | $139065.12    | 2.90%             | 2025-09-30      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-21

**Name of Applicant:** HOTCHKIS & WILEY FUNDS/DE/

**Signature:** /s/ James Menvielle

**Name of Signer:** James Menvielle

**Title:** Treasurer / Principal Financial Officer