Hotchkis & Wiley Large Cap Fundamental Value Fund’s Q2 2026 Investor Letter

Hotchkis & Wiley, an investment management company, released its second-quarter 2026 investor letter for the “Large Cap Fundamental Value Fund.” Equity markets posted strong returns, with the Russell 1000 Value Index rising by 13.9%, although many individual stocks lagged. Notably, semiconductor stocks and AI-related sectors saw exceptional gains. The rally appeared speculative, marked by a stark difference in performance between high-beta and low-volatility stocks, along with momentum...