International Value Equity Strategy
The Lyrical Asset Management International Value Equity strategy is a concentrated portfolio selected from the universe of the largest 1,500 companies in the world’s developed markets (excluding the United States).
Overview
Strategy Description & Investment Objective
Like Lyrical’s other products, International Value Equity is grounded in process. The portfolio normally includes 25-40 best ideas, diversified by sector, industry and country. Active Share is typically very high at 95% or higher. Tax-efficiency has also been high, with turnover suggesting an average holding period of seven years.
Product Description
- 25-40 international listed stocks
- Selected from largest 1,500 non-U.S. developed market stocks
- Pure bottom-up
Stock Selection
- Value
- Quality
- Analyzability
Strategy Accessibility
- Single stock limits
- Industry limits
- Country limits
- Low turnover
Strategy Details
As of 06/30/2026
| Selection Universe | 1,500 largest non-U.S. developed market stocks |
|---|---|
| # of Holdings | Approximately 25-40 stocks |
| Portfolio Weighting | Capitalization-scaled product (modified equal-weight) |
| Targeted Outperformance | 500 bps (MSCI EAFE) |
| Industry Constraints | Limit of three per industry |
| Country Constraints | Index Weight +15% |
| Max Position Size | 5% at cost |
| Wtd. Avg. / Median Market Cap | $66.0B / $13.3B |
| Active Share | 98% vs. MSCI EAFE |
Holdings
Top 10 Holdings
As of 06/30/2026
| Name | Country | Industry | Mkt Cap ($Bn) | Weight |
|---|---|---|---|---|
| Samsung Electronics Co., Ltd. Sponsored GDR (SMSN-LON) | South Korea | Telecommunications Equipment | $1,233.10 | 7.9% |
| Renesas Electronics Corporation (6723-JP) | Japan | Semiconductors | $53.70 | 7.7% |
| Johnson Controls International plc (JCI-US) | Ireland | Industrial Machinery | $90.40 | 5.1% |
| Rexel SA (RXL-FR) | France | Wholesale Distributors | $12.80 | 4.7% |
| AerCap Holdings NV (AER-US) | Ireland | Finance/Rental/Leasing | $23.10 | 4.5% |
| Julius Baer Gruppe AG (BAER-CH) | Switzerland | Financial Conglomerates | $17.70 | 4.1% |
| CK Hutchison Holdings Ltd (1-HK) | Hong Kong | Utilities | $32.40 | 4.0% |
| Nippon Paint Holdings Co., Ltd. (4612-JP) | Japan | Industrial Specialties | $15.00 | 4.0% |
| ICON Plc (ICLR-US) | Ireland | Miscellaneous Commercial Services | $13.20 | 3.9% |
| Euronext NV (ENX-FR) | France | Investment Banks/Brokers | $16.30 | 3.7% |
Portfolio holdings are subject to change and should not be considered investment advice.
Weightings
As of 06/30/2026
- Consumer Discretionary
- Consumer Staples
- Energy
- Financials
- Health Care
- Industrials
- Information Technology
- Materials
- Communication Services
- Utilities