<DOCUMENT>
<TYPE>13F-HR/A
<SEQUENCE>1
<FILENAME>hw13f073.txt
<TEXT>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 13F

FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 2007

Check here if Amendment [X];          Amendment Number: 1
This Amendment (Check only one.): [X] is a restatement.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:    	Hotchkis and Wiley Capital Management, LLC
Address:	725 South Figueroa Street, 39th Floor
		Los Angeles, CA 90017-5439


13F File Number: 028-10068

The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, and tables, are considered integral parts of this
form.

Person Signing this Report on Behalf of Reporting Manager:

Name:      Tina H. Kodama
Title:     Chief Compliance Officer
Phone:     213-430-1897

Signature, Place and Date of Signing:

/s/ Tina H. Kodama	  Los Angeles, CA      November 15, 2007


Report Type (Check only one.):

[X]      13F HOLDINGS REPORT.

[ ]      13F NOTICE.

[ ]      13F COMBINATION REPORT.


<PAGE>


FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:

0

Form 13F Information Table Entry Total:

119

Form 13F Information Table Value Total:

$29,439,775 (thousands)


List of Other Included Managers:

NONE

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                                                           ITEM 4                     ITEM 6                 ITEM 8
                                                          FAIR MKT    ITEM 5         INVSMNT            VOTING AUTHORITY
ITEM 1                     ITEM 2               ITEM 3     VALUE      SH/PRN   SH PT DISCRET  ITEM 7        (SHARES)
ISSUER                     CLASS                SECID     (000s)      AMOUNT   PN CL  TYPE     MRG    (A)SOLE   (B)SHARED(C)NONE

ALCOA INC                      COM             013817101     13123.    335448. SH       SOLE           335448.       0.       0.
ALEXANDER & BALDWIN INC        COM             014482103     39623.    790400. SH       SOLE           686500.       0.  103900.
ALTRIA GROUP INC               COM             02209S103    345203.   4964801. SH       SOLE          3441101.       0. 1523700.
ASSURANT INC                   COM             04621X108     23947.    447600. SH       SOLE           414400.       0.   33200.
AUTONATION INC                 COM             05329W102    211260.  11922100. SH       SOLE         10566900.       0. 1355200.
AVIS BUDGET GROUP              COM             053774105     51161.   2235090. SH       SOLE          1854820.       0.  380270.
BJS WHOLESALE CLUB INC         COM             05548J106     74179.   2237000. SH       SOLE          1858200.       0.  378800.
BMC SOFTWARE INC               COM             055921100    510292.  16339792. SH       SOLE         14540292.       0. 1799500.
BANK OF AMERICA CORPORATION    COM             060505104    447484.   8901605. SH       SOLE          5946410.       0. 2955195.
BAUER EDDIE HLDGS INC          COM             071625107      1073.    124800. SH       SOLE            86900.       0.   37900.
BEARINGPOINT INC               COM             074002106     29122.   7190700. SH       SOLE          6107200.       0. 1083500.
BEAZER HOMES USA INC           COM             07556Q105     38043.   4611286. SH       SOLE          3634186.       0.  977100.
BOWNE & CO INC                 COM             103043105      1956.    117400. SH       SOLE                0.       0.  117400.
BRISTOL MYERS SQUIBB CO        COM             110122108    192886.   6692800. SH       SOLE          4529100.       0. 2163700.
BROOKFIELD HOMES CORP          COM             112723101      7575.    408361. SH       SOLE           278904.       0.  129457.
CNA FINL CORP                  COM             126117100     82011.   2085724. SH       SOLE          1931124.       0.  154600.
CA INC                         COM             12673P105   1586469.  61682326. SH       SOLE         44814448.       0.16867878.
CALIFORNIA COASTAL CMNTYS IN   COM NEW         129915203     11999.    977083. SH       SOLE           630583.       0.  346500.
CAPLEASE INC                   COM             140288101     53823.   5251000. SH       SOLE          3615700.       0. 1635300.
CENTEX CORP                    COM             152312104    532848.  20054500. SH       SOLE         13482200.       0. 6572300.
CHEVRON CORP NEW               COM             166764100     21196.    226500. SH       SOLE           138600.       0.   87900.
CITADEL BROADCASTING CORP      COM             17285T106     92076.  22133700. SH       SOLE         20496000.       0. 1637700.
COMERICA INC                   COM             200340107    382277.   7454700. SH       SOLE          5841300.       0. 1613400.
CON-WAY INC                    COM             205944101    181055.   3935972. SH       SOLE          3414172.       0.  521800.
CONSECO INC                    COM NEW         208464883    281064.  17566500. SH       SOLE         13337200.       0. 4229300.
DOW CHEM CO                    COM             260543103      3789.     88000. SH       SOLE            42200.       0.   45800.
EASTMAN CHEM CO                COM             277432100    749958.  11238700. SH       SOLE          9948500.       0. 1290200.
EDO CORP                       COM             281347104      2515.     44900. SH       SOLE            44900.       0.       0.
ELECTRONIC DATA SYS NEW        COM             285661104   1343408.  61511350. SH       SOLE         45073450.       0.16437900.
EMBRAER-EMPRESA BRASILEIRA D   SP ADR COM SHS  29081M102    139038.   3165700. SH       SOLE          2069200.       0. 1096500.
EMPLOYERS HOLDINGS INC         COM             292218104     41421.   2009733. SH       SOLE          1245333.       0.  764400.
ENTERGY CORP NEW               COM             29364G103    418064.   3860600. SH       SOLE          2498300.       0. 1362300.
EXELON CORP                    COM             30161N101    798545.  10596400. SH       SOLE          7363400.       0. 3233000.
F M C CORP                     COM NEW         302491303     38724.    744400. SH       SOLE           640800.       0.  103600.
FPL GROUP INC                  COM             302571104    688416.  11307750. SH       SOLE          8351650.       0. 2956100.
FEDERAL HOME LN MTG CORP       COM             313400301    709881.  12029850. SH       SOLE          8151750.       0. 3878100.
FLOWSERVE CORP                 COM             34354P105    261960.   3438700. SH       SOLE          2225100.       0. 1213600.
FOOT LOCKER INC                COM             344849104     93708.   6112700. SH       SOLE          5660800.       0.  451900.
FOUNDATION COAL HLDGS INC      COM             35039W100     28314.    722300. SH       SOLE           437600.       0.  284700.
FURNITURE BRANDS INTL INC      COM             360921100     33125.   3266726. SH       SOLE          2585726.       0.  681000.
GAP INC DEL                    COM             364760108    596978.  32374100. SH       SOLE         23477500.       0. 8896600.
GENWORTH FINL INC              COM CL A        37247D106    883804.  28760300. SH       SOLE         20924800.       0. 7835500.
GREAT PLAINS ENERGY INC        COM             391164100     40755.   1414600. SH       SOLE          1015400.       0.  399200.
GROUP 1 AUTOMOTIVE INC         COM             398905109     12525.    373100. SH       SOLE           236900.       0.  136200.
HANOVER INS GROUP INC          COM             410867105    308574.   6982890. SH       SOLE          5881690.       0. 1101200.
HARTFORD FINL SVCS GROUP INC   COM             416515104     47885.    517400. SH       SOLE           205600.       0.  311800.
HOME DEPOT INC                 COM             437076102    642807.  19815259. SH       SOLE         13534014.       0. 6281245.
HUDSON HIGHLAND GROUP INC      COM             443792106     44340.   3483100. SH       SOLE          2475000.       0. 1008100.
IDEARC INC                     COM             451663108    483146.  15352600. SH       SOLE         12013500.       0. 3339100.
IKON OFFICE SOLUTIONS INC      COM             451713101    192466.  14977900. SH       SOLE         13006600.       0. 1971300.
INTERPUBLIC GROUP COS INC      COM             460690100    364929.  35156910. SH       SOLE         22967210.       0.12189700.
JP MORGAN CHASE & CO           COM             46625H100    841984.  18375900. SH       SOLE         12349360.       0. 6026540.
JOHNSON & JOHNSON              COM             478160104    223097.   3395700. SH       SOLE          2270900.       0. 1124800.
JONES APPAREL GROUP INC        COM             480074103    412238.  19509600. SH       SOLE         17156400.       0. 2353200.
KMG AMER CORP                  COM             482563103      8001.   1351500. SH       SOLE           747400.       0.  604100.
KELLY SVCS INC                 CL A            488152208     34588.   1746000. SH       SOLE          1089600.       0.  656400.
KEYCORP NEW                    COM             493267108     43283.   1338800. SH       SOLE           556900.       0.  781900.
KRAFT FOODS INC                CL A            50075N104      1222.     35400. SH       SOLE                0.       0.   35400.
LENNAR CORP                    CL A            526057104    475978.  21014460. SH       SOLE         15524660.       0. 5489800.
LENNAR CORP                    CL B            526057302     67728.   3187220. SH       SOLE          2986760.       0.  200460.
LEXINGTON REALTY TRUST         COM             529043101     28912.   1444900. SH       SOLE           891300.       0.  553600.
LILLY ELI & CO                 COM             532457108    771897.  13558700. SH       SOLE          9168000.       0. 4390700.
LIMITED BRANDS INC             COM             532716107    107363.   4690400. SH       SOLE          4346200.       0.  344200.
LIVE NATION INC                COM             538034109     15221.    716279. SH       SOLE           447279.       0.  269000.
LIZ CLAIBORNE INC              COM             539320101     33197.    967000. SH       SOLE           900500.       0.   66500.
LODGIAN INC                    COM PAR $.01    54021P403     39930.   3383909. SH       SOLE          2413009.       0.  970900.
M D C HLDGS INC                COM             552676108     48148.   1176064. SH       SOLE           742664.       0.  433400.
MI DEVS INC                    CL A SUB VTG    55304X104    216682.   6544300. SH       SOLE          5539500.       0. 1004800.
MAGNA INTL INC                 CL A            559222401    320996.   3332950. SH       SOLE          2458550.       0.  874400.
MERITAGE HOMES CORP            COM             59001A102      4666.    330434. SH       SOLE           207434.       0.  123000.
METLIFE INC                    COM             59156R108    734343.  10531230. SH       SOLE          7072530.       0. 3458700.
MICROSOFT CORP                 COM             594918104   1034286.  35108150. SH       SOLE         23758850.       0.11349300.
MILLER INDS INC TENN           COM NEW         600551204     35462.   2071398. SH       SOLE          1542698.       0.  528700.
NORTHROP GRUMMAN CORP          COM             666807102    648406.   8312900. SH       SOLE          5762800.       0. 2550100.
NOVELL INC                     COM             670006105    107218.  14033800. SH       SOLE         12202200.       0. 1831600.
ORACLE CORP                    COM             68389X105    178589.   8248900. SH       SOLE          3317900.       0. 4931000.
OVERSEAS SHIPHOLDING GROUP I   COM             690368105     14217.    185048. SH       SOLE           102848.       0.   82200.
PHH CORP                       COM NEW         693320202    126872.   4827700. SH       SOLE          4064300.       0.  763400.
PMA CAP CORP                   CL A            693419202      9260.    974700. SH       SOLE           602700.       0.  372000.
PACIFIC SUNWEAR CALIF INC      COM             694873100     23273.   1572469. SH       SOLE           855569.       0.  716900.
PATHMARK STORES INC NEW        COM             70322A101     19131.   1500500. SH       SOLE           927200.       0.  573300.
PETRO-CDA                      COM             71644E102      9314.    162300. SH       SOLE           162300.       0.       0.
PFIZER INC                     COM             717081103    585914.  23983400. SH       SOLE         16254200.       0. 7729200.
PORTLAND GEN ELEC CO           COM NEW         736508847     81190.   2920500. SH       SOLE          2535500.       0.  385000.
PULTE HOMES INC                COM             745867101    289177.  21247400. SH       SOLE         13704100.       0. 7543300.
R H DONNELLEY CORP             COM NEW         74955W307    271669.   4849496. SH       SOLE          3079509.       0. 1769987.
RENT A CTR INC NEW             COM             76009N100    104775.   5779100. SH       SOLE          5257400.       0.  521700.
ROYAL DUTCH SHELL PLC          SPON ADR B      780259107    520563.   6340600. SH       SOLE          4463500.       0. 1877100.
RUSS BERRIE & CO               COM             782233100      7259.    432100. SH       SOLE           273600.       0.  158500.
RYLAND GROUP INC               COM             783764103      5018.    234179. SH       SOLE           146879.       0.   87300.
SAFEWAY INC                    COM NEW         786514208    195465.   5903500. SH       SOLE          3918200.       0. 1985300.
ST JOE CO                      COM             790148100    240617.   7159100. SH       SOLE          4785700.       0. 2373400.
SANMINA SCI CORP               COM             800907107        23.     10719. SH       SOLE            10719.       0.       0.
SCHERING PLOUGH CORP           COM             806605101     21708.    686300. SH       SOLE           686300.       0.       0.
SPHERION CORP                  COM             848420105     13943.   1688069. SH       SOLE          1064269.       0.  623800.
SUNOCO INC                     COM             86764P109    348103.   4918100. SH       SOLE          3738000.       0. 1180100.
TOLL BROTHERS INC              COM             889478103     69571.   3480300. SH       SOLE          3240900.       0.  239400.
TRAVELERS COMPANIES INC        COM             89417E109    689984.  13706481. SH       SOLE          8827763.       0. 4878718.
TRONOX INC                     CL A            897051108      7727.    830900. SH       SOLE           549500.       0.  281400.
TRONOX INC                     COM CL B        897051207      9481.   1049944. SH       SOLE           661744.       0.  388200.
UNILEVER PLC                   SPON ADR NEW    904767704      3344.    105600. SH       SOLE           105600.       0.       0.
UNIONBANCAL CORP               COM             908906100    313776.   5371960. SH       SOLE          4354960.       0. 1017000.
UNISYS CORP                    COM             909214108     10801.   1631500. SH       SOLE          1410200.       0.  221300.
UNITED AMER INDEMNITY LTD      CL A            90933T109     27426.   1275028. SH       SOLE           802609.       0.  472419.
UNUM GROUP                     COM             91529Y106    825347.  33728950. SH       SOLE         26019650.       0. 7709300.
VALASSIS COMMUNICATIONS INC    COM             918866104     60304.   6760500. SH       SOLE          5325900.       0. 1434600.
WCI CMNTYS INC                 COM             92923C104     16447.   2745700. SH       SOLE          1833500.       0.  912200.
WAL MART STORES INC            COM             931142103    951029.  21787600. SH       SOLE         14797100.       0. 6990500.
WARNACO GROUP INC              COM NEW         934390402     44970.   1151000. SH       SOLE           687500.       0.  463500.
WASHINGTON MUT INC             COM             939322103    261386.   7402592. SH       SOLE          4854546.       0. 2548046.
WESTWOOD ONE INC               COM             961815107     24635.   8958286. SH       SOLE          5889086.       0. 3069200.
WINN DIXIE STORES INC          COM NEW         974280307     10055.    537100. SH       SOLE           299600.       0.  237500.
WYNDHAM WORLDWIDE CORP         COM             98310W108      6021.    183800. SH       SOLE           183800.       0.       0.
YUM BRANDS INC                 COM             988498101    270977.   8009960. SH       SOLE          5999260.       0. 2010700.
COVIDIEN LTD                   COM             G2552X108    369549.   8904803. SH       SOLE          5960297.       0. 2944506.
QUANTA CAPITAL HLDGS LTD       SHS             G7313F106       516.    191000. SH       SOLE           191000.       0.       0.
TYCO INTL LTD BERMUDA          SHS             G9143X208    608251.  13717878. SH       SOLE          9357172.       0. 4360706.
TYCO ELECTRONICS LTD           COM NEW         G9144P105    739448.  20870678. SH       SOLE         14267372.       0. 6603306.
XL CAP LTD                     CL A            G98255105    616984.   7790200. SH       SOLE          5689100.       0. 2101100.

</TABLE>

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