# EDGAR Filing Document

**Accession Number:** 0001145022
**File Stem:** 0000894189-26-016941
**Filing Date:** 2026-6
**Character Count:** 33997
**Document Hash:** 9363dd479964d07958f500daea8bacd1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-016941.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000894189-26-016941

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**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/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10487
- **FILM NUMBER:** 261050886

**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 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           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Hotchkis & Wiley Small Cap Value Fund** | **Hotchkis & Wiley Small Cap Value Fund** | **Hotchkis & Wiley Small Cap Value Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 94.6%** | **Shares**  | **Value**  |
| **Automobile Components - 2.4%** | **Automobile Components - 2.4%** | |
| Adient PLC <sup>(a)</sup> | 483200 | $9765472 |
| Lear Corp. | 47900 | 5799732 |
|  |  | 15565204 |
| **Banks - 8.6%** | **Banks - 8.6%** |  |
| Associated Banc-Corp. | 271500 | 7020990 |
| Bank of NT Butterfield & Son Ltd. | 262100 | 13755008 |
| First Hawaiian, Inc. | 797100 | 19640544 |
| Popular, Inc. | 63600 | 8533212 |
| WaFd, Inc. | 40098 | 1259077 |
| Zions Bancorp NA | 114000 | 6568680 |
|  |  | 56777511 |
| **Capital Markets - 2.2%** | **Capital Markets - 2.2%** |  |
| Stifel Financial Corp. | 191750 | 14174160 |
| **Chemicals - 7.4%** | **Chemicals - 7.4%** |  |
| Ecovyst, Inc. <sup>(a)</sup> | 1216600 | 15645476 |
| Olin Corp. | 1105300 | 32860569 |
|  |  | 48506045 |
| **Commercial Services & Supplies - 2.1%** | **Commercial Services & Supplies - 2.1%** |  |
| Brink's Co. | 96460 | 9996150 |
| MillerKnoll, Inc. | 82000 | 1185720 |
| Quad/Graphics, Inc. | 387200 | 2559392 |
|  |  | 13741262 |
| **Communications Equipment - 5.2%** | **Communications Equipment - 5.2%** |  |
| F5, Inc. <sup>(a)</sup> | 119220 | 34493923 |
| **Construction & Engineering - 3.0%** | **Construction & Engineering - 3.0%** |  |
| Fluor Corp. <sup>(a)</sup> | 420200 | 19602330 |
| **Consumer Finance - 4.0%** | **Consumer Finance - 4.0%** |  |
| SLM Corp. | 1221300 | 26148033 |
| **Electric Utilities - 2.3%** | **Electric Utilities - 2.3%** |  |
| OGE Energy Corp. | 317400 | 15222504 |
| **Electronic Equipment, Instruments & Components - 4.5%** | **Electronic Equipment, Instruments & Components - 4.5%** |  |
| Arrow Electronics, Inc. <sup>(a)</sup> | 17800 | 2552698 |
| Avnet, Inc. | 385800 | 23772996 |
| Vontier Corp. | 91100 | 3231317 |
|  |  | 29557011 |
| **Energy Equipment & Services - 2.2%** | **Energy Equipment & Services - 2.2%** |  |
| Expro Group Holdings NV <sup>(a)</sup> | 199082 | 3466018 |
| NOV, Inc. | 522700 | 9831987 |
| Weatherford International PLC | 10800 | 1021464 |
|  |  | 14319469 |
| **Financial Services - 1.8%** | **Financial Services - 1.8%** |  |
| Euronet Worldwide, Inc. <sup>(a)</sup> | 71800 | 4765366 |
| WEX, Inc. <sup>(a)</sup> | 46300 | 7085752 |
|  |  | 11851118 |
| **Ground Transportation - 3.6%** | **Ground Transportation - 3.6%** |  |
| U-Haul Holding Co. | 524300 | 23420481 |
| **Health Care Equipment & Supplies - 3.2%** | **Health Care Equipment & Supplies - 3.2%** |  |
| LivaNova PLC <sup>(a)</sup> | 113600 | 7220416 |
| Solventum Corp. <sup>(a)</sup> | 212800 | 13895840 |
|  |  | 21116256 |
| **Health Care Providers & Services - 1.8%** | **Health Care Providers & Services - 1.8%** |  |
| Universal Health Services, Inc. - Class B | 65800 | 11776226 |
| **Hotels, Restaurants & Leisure - 1.8%** | **Hotels, Restaurants & Leisure - 1.8%** |  |
| Marriott Vacations Worldwide Corp. | 187300 | 12196976 |
| **Insurance - 2.1%** | **Insurance - 2.1%** |  |
| Global Indemnity Group LLC - Class A | 316036 | 8605660 |
| Horace Mann Educators Corp. | 116500 | 4972220 |
|  |  | 13577880 |
| **IT Services - 0.8%** | **IT Services - 0.8%** |  |
| ASGN, Inc. <sup>(a)</sup> | 133600 | 5171656 |
| **Machinery - 4.9%** | **Machinery - 4.9%** |  |
| Greenbrier Cos., Inc. | 50950 | 2682517 |
| Miller Industries, Inc. | 142800 | 6504540 |
| Stanley Black & Decker, Inc. | 162400 | 11540144 |
| Timken Co. | 115600 | 11625892 |
|  |  | 32353093 |
| **Media - 6.3%** | **Media - 6.3%** |  |
| National CineMedia, Inc. | 1883800 | 5745590 |
| Stagwell, Inc. <sup>(a)</sup> | 5241017 | 32965997 |
| WPP PLC - ADR | 161400 | 2509770 |
|  |  | 41221357 |
| **Multi-Utilities - 1.7%** | **Multi-Utilities - 1.7%** |  |
| Avista Corp. | 173900 | 6980346 |
| Black Hills Corp. | 57000 | 3956370 |
|  |  | 10936716 |
| **Oil, Gas & Consumable Fuels - 11.6%** | **Oil, Gas & Consumable Fuels - 11.6%** |  |
| APA Corp. | 486108 | 20630423 |
| California Resources Corp. | 213595 | 14785046 |
| Crescent Energy Co. - Class A | 155400 | 2097900 |
| Kosmos Energy Ltd. <sup>(a)</sup> | 1878200 | 5221396 |
| Murphy Oil Corp. | 587900 | 24250875 |
| Ovintiv, Inc. | 97800 | 5805408 |
| Range Resources Corp. | 79200 | 3578256 |
|  |  | 76369304 |
| **Personal Care Products - 0.0% <sup>(b)</sup>** | **Personal Care Products - 0.0% <sup>(b)</sup>** |  |
| Herbalife Ltd. <sup>(a)</sup> | 900 | 13248 |
| **Professional Services - 0.9%** | **Professional Services - 0.9%** |  |
| Robert Half, Inc. | 222000 | 5638800 |
| **Real Estate Management & Development - 1.8%** | **Real Estate Management & Development - 1.8%** |  |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 32730 | 9960394 |
| RMR Group, Inc. - Class A | 119100 | 1842477 |
|  |  | 11802871 |
| **Software - 3.9%** | **Software - 3.9%** |  |
| Workiva, Inc. <sup>(a)</sup> | 433600 | 25855568 |
| **Specialty Retail - 2.2%** | **Specialty Retail - 2.2%** |  |
| Lithia Motors, Inc. | 58200 | 14533704 |
| **Trading Companies & Distributors - 2.3%** | **Trading Companies & Distributors - 2.3%** |  |
| Rush Enterprises, Inc. - Class A | 233800 | 15456518 |
| **TOTAL COMMON STOCKS** (Cost $557,368,694) | **TOTAL COMMON STOCKS** (Cost $557,368,694) | 621399224 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.6%** | **Shares**  | **Value**  |
| **Health Care REITs - 1.2%** | **Health Care REITs - 1.2%** |  |
| Alexandria Real Estate Equities, Inc. | 171900 | 7979598 |
| **Real Estate Management & Development - 0.4%** | **Real Estate Management & Development - 0.4%** |  |
| Seritage Growth Properties - Class A <sup>(a)</sup> | 911810 | 2562186 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $17,105,652) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $17,105,652) | 10541784 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 3.6%** | **Shares**  | **Value**  |
| First American Government Obligations Fund - Class X, 3.58% <sup>(c)</sup> | 23325747 | 23325747 |
| **TOTAL MONEY MARKET FUNDS** (Cost $23,325,747) | **TOTAL MONEY MARKET FUNDS** (Cost $23,325,747) | 23325747 |
| **TOTAL INVESTMENTS - 99.8% (**Cost $597,800,093**)** | **TOTAL INVESTMENTS - 99.8% (**Cost $597,800,093**)** | 655266755 |
| Other Assets in Excess of Liabilities - 0.2% | Other Assets in Excess of Liabilities - 0.2% | 1579683 |
| **TOTAL NET ASSETS - 100.0%** |  | $656846438 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| LLC - Limited Liability Company |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust<br>|
| 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. |

---

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) The rate shown represents the 7-day annualized yield as of March 31, 2026.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Hotchkis & Wiley Small Cap 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 March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $621399224 | $– | $– | $621399224 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 10541784 | – | – | 10541784 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 23325747 | – | – | 23325747 |
| Total Investments | $655266755 | $– | $– | $655266755 |
| 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. |

---

## 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 Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000006215

- **c. LEI of Series:** 549300C1B9DFFEPN4U41

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

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

- **b. Date as of which information is reported:** 2026-03-31

**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:** $655368644.93

**Total Liabilities:** $2142172.90

**Net Assets:** $653226472.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017134 | 6.59%                | 0.68%                | 1.63%                |
| Class ID C000017135 | 6.57%                | 0.67%                | 1.61%                |
| Class ID C000017136 | 6.50%                | 0.60%                | 1.55%                |
| Class ID C000205769 | 6.61%                | 0.69%                | 1.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15339024.44             | $26985446.77                               |
| Month 2  | $10331606.22             | $-5916803.34                               |
| Month 3  | $14576027.53             | $-4490055.79                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| U-Haul Holding Co              | U-Haul Holding Co                          | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |    524300 | NS      | $23420481.00  | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                | Murphy Oil Corp                            | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |    587900 | NS      | $24250875.00  | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                       | SLM Corp                                   | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1221300 | NS      | $26148033.00  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Seritage Growth Properties     | Seritage Growth Properties                 | CUSIP: 81752R100<br>LEI: 5493003CJFC2MM82WB25 | Long             | EC               | CORP              | US        |    911810 | NS      | $2562186.10   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc  | Universal Health Services Inc              | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     65800 | NS      | $11776226.00  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc             | First Hawaiian Inc                         | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |    797100 | NS      | $19640544.00  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| National CineMedia Inc         | National CineMedia Inc                     | CUSIP: 635309206<br>LEI: 5493000MOLIVSOGKEB48 | Long             | EC               | CORP              | US        |   1883800 | NS      | $5745590.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                | OGE Energy Corp                            | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |    317400 | NS      | $15222504.00  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Solventum Corp                 | Solventum Corp                             | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |    212800 | NS      | $13895840.00  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |    171900 | NS      | $7979598.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp           | Associated Banc-Corp                       | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |    271500 | NS      | $7020990.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                 | Brink's Co/The                             | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     96460 | NS      | $9996149.80   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  23325747 | NS      | $23325747.21  | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd                  | Herbalife Ltd                              | CUSIP: N/A<br>LEI: 549300BA7TYPBSZZIA41       | Long             | EC               | CORP              | US        |       900 | NS      | $13248.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                       | ASGN Inc                                   | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |    133600 | NS      | $5171656.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                      | Avnet Inc                                  | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |    385800 | NS      | $23772996.00  | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Kosmos Energy Ltd              | Kosmos Energy Ltd                          | CUSIP: 500688106<br>LEI: 213800YDFJ3OT9B5P157 | Long             | EC               | CORP              | US        |   1878200 | NS      | $5221396.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp                                  | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     47900 | NS      | $5799732.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                  | Timken Co/The                              | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |    115600 | NS      | $11625892.00  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                   | Vontier Corp                               | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |     91100 | NS      | $3231317.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorp NA                           | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |    114000 | NS      | $6568680.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                     | Adient PLC                                 | CUSIP: N/A<br>LEI: 5493002QLDY8O75RTR78       | Long             | EC               | CORP              | US        |    483200 | NS      | $9765472.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp                           | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     57000 | NS      | $3956370.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp     | Horace Mann Educators Corp                 | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |    116500 | NS      | $4972220.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll Inc                | MillerKnoll Inc                            | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     82000 | NS      | $1185720.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                    | Popular Inc                                | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     63600 | NS      | $8533212.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Quad/Graphics Inc              | Quad/Graphics Inc                          | CUSIP: 747301109<br>LEI: W2D68G5NJH4X0NW8PT65 | Long             | EC               | CORP              | US        |    387200 | NS      | $2559392.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RMR Group Inc/The              | RMR Group Inc/The                          | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |    119100 | NS      | $1842477.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp      | California Resources Corp                  | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |    213595 | NS      | $14785045.90  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecovyst Inc                    | Ecovyst Inc                                | CUSIP: 27923Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1216600 | NS      | $15645476.00  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co             | Crescent Energy Co                         | CUSIP: 44952J104<br>LEI: 254900FBNP5A21Q39U97 | Long             | EC               | CORP              | US        |    155400 | NS      | $2097900.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc              | Lithia Motors Inc                          | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |     58200 | NS      | $14533704.00  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Miller Industries Inc/TN       | Miller Industries Inc/TN                   | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |    142800 | NS      | $6504540.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WPP PLC                        | WPP PLC                                    | CUSIP: 92937A102<br>LEI: 549300LSGBXPYHXGDT93 | Long             | EC               | CORP              | GB        |     90600 | NS      | $1408830.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| WaFd Inc                       | WaFd Inc                                   | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40098 | NS      | $1259077.20   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of NT Butterfield & Son L | Bank of NT Butterfield & Son Ltd/The       | CUSIP: N/A<br>LEI: 549300V8RVM0EMTDPF28       | Long             | EC               | CORP              | BM        |    262100 | NS      | $13755008.00  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC              | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |     10800 | NS      | $1021464.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Expro Group Holdings NV        | Expro Group Holdings NV                    | CUSIP: N/A<br>LEI: 724500LJYA8QIT73H017       | Long             | EC               | CORP              | US        |    199082 | NS      | $3466017.62   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc          | Euronet Worldwide Inc                      | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     71800 | NS      | $4765366.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5 Inc                                     | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |    119220 | NS      | $34493922.60  | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Greenbrier Cos Inc/The         | Greenbrier Cos Inc/The                     | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Long             | EC               | CORP              | US        |     50950 | NS      | $2682517.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott Vacations Worldwide C | Marriott Vacations Worldwide Corp          | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |    201000 | NS      | $13089120.00  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc                        | NOV Inc                                    | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    522700 | NS      | $9831987.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corp                      | Olin Corp                                  | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |   1105300 | NS      | $32860569.00  | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises Inc                       | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |    233800 | NS      | $15456518.00  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Stagwell Inc                   | Stagwell Inc                               | CUSIP: 85256A109<br>LEI: 549300KIYTU6J3NYJ009 | Long             | EC               | CORP              | US        |   5241017 | NS      | $32965996.93  | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp          | Stifel Financial Corp                      | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |    191750 | NS      | $14174160.00  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                        | WEX Inc                                    | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     46300 | NS      | $7085752.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LivaNova PLC                   | LivaNova PLC                               | CUSIP: N/A<br>LEI: 2138001K2FX6SHK2B339       | Long             | EC               | CORP              | GB        |    113600 | NS      | $7220416.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                       | APA Corp                                   | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    486108 | NS      | $20630423.52  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Electronics Inc          | Arrow Electronics Inc                      | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |     17800 | NS      | $2552698.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp                                | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |    173900 | NS      | $6980346.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp                                 | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    420200 | NS      | $19602330.00  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Indemnity Group LLC     | Global Indemnity Group LLC                 | CUSIP: 37959R103<br>LEI: 549300KNR55WEKSPTK65 | Long             | EC               | CORP              | US        |    316036 | NS      | $8605660.28   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc         | Jones Lang LaSalle Inc                     | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     32730 | NS      | $9960393.60   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv Inc                                | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     97800 | NS      | $5805408.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp           | Range Resources Corp                       | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     79200 | NS      | $3578256.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half Inc                | Robert Half Inc                            | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |    222000 | NS      | $5638800.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc     | Stanley Black & Decker Inc                 | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |    162400 | NS      | $11540144.00  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                    | Workiva Inc                                | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |    433600 | NS      | $25855568.00  | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

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

**Signature:** /s/ James Menvielle

**Name of Signer:** James Menvielle

**Title:** Treasurer / Principal Financial Officer