Hedged Value

Characteristics
As of 06/30/2017
STATISTICS (%)1
  Typical Portfolio
Long Exposure 90 - 110 103.6
Short Exposure (40) - (70) -73.4
Gross Exposure 150 - 180 177.0
Net Exposure 30 - 60 30.2
Top 10 Positions 30 - 50 41.8
Largest Position <10 6.6
LARGEST LONG POSITIONS (%)1
  Portfolio
Hewlett Packard 6.6
Ophir Energy 6.4
American International Group 3.9
Danieli 3.7
Kosmos Energy 3.5
SECTOR POSITIONING (%)1
  Long Short Gross Net
Consumer Discretionary 9.2 -15.7 25.0 -6.5
Consumer Staples 0.0 -6.1 6.1 -6.1
Energy 33.4 -6.0 39.3 27.4
Financials 27.0 -11.9 38.9 15.2
Health Care 0.0 -3.1 3.1 -3.1
Industrials 14.5 -3.7 18.2 10.8
Information Technology 13.0 -2.5 15.5 10.5
Materials 0.0 -10.8 10.8 -10.8
Telecom Services 1.5 -2.4 3.9 -0.9
Utilities 3.3 -1.4 4.7 2.0
Other 0.0 -1.9 1.9 -1.9
Total 103.6 -73.4 177.0 30.2
GEOGRAPHY (%)1
  Long Short Gross Net
United States 69.9 -66.4 136.3 3.5
Non-U.S. 33.7 -7.0 40.7 26.7
Total 103.6 -73.4 177.0 30.2

% of Total Portfolio

Data source: Hotchkis & Wiley, Bloomberg

Information provided is based on a representative portfolio of the Hedged Value strategy. Sector and/or industry weights, statistics, and holdings may vary due to different restrictions, cash flows, and other relevant considerations. Top ten holdings identified do not represent all of the securities purchased, sold, or recommended for advisory clients, and may not be indicative of current or future holdings or trading activity. No assumptions should be made that companies identified, or all investment decisions were, or will be profitable. A complete list of portfolio holdings is available upon request. Statistics presented may be based on proprietary or third-party estimates, which are subject to change and cannot be guaranteed. The strategy may be viewed as a non-diversified strategy, which may concentrate its assets in fewer individual holdings. The strategy may be exposed to more individual stock volatility than a more diversified strategy. The strategy may also invest in smaller and/or medium-sized companies, foreign securities, and debt securities. Information supplemental to strategy’s GIPS Compliant Presentation.

Index definitions

Glossary of financial terms