Hotchkis & Wiley Global Value Fund on Alphabet Inc.
Thesis
Hotchkis & Wiley continues to own Alphabet despite being underweight the stock relative to its benchmark. The fund believes Alphabet's valuation remains attractive in light of improving growth prospects across a business anchored by Google Search and complemented by cloud and other investments. The stock's relative-performance impact during the quarter did not alter the underlying investment thesis.
“We believe Alphabet’s valuation remain good given its improving growth prospects.”