13F-HR 1 hw1q11.txt HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] 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, lists, 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 May 13, 2011 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 144 Form 13F Information Table Value Total: $17,909,885 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 99 CENTS ONLY STORES COM 65440K106 3630 185200 SH SOLE 65000 0 120200 ACCURIDE CORP NEW COM NEW 00439T206 3569 256945 SH SOLE 256945 0 0 ACXIOM CORP COM 005125109 5951 414700 SH SOLE 146500 0 268200 AIR T INC COM 009207101 407 42900 SH SOLE 42900 0 0 ALLIANT TECHSYSTEMS INC COM 018804104 67151 950200 SH SOLE 450200 0 500000 ALLSTATE CORP COM 020002101 512283 16119677 SH SOLE 7672016 0 8447661 ARRIS GROUP INC COM 04269Q100 70837 5560218 SH SOLE 3254500 0 2305718 ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 3638 3670000 PRN SOLE 3670000 0 0 ASSOCIATED BANC CORP COM 045487105 13853 932874 SH SOLE 256300 0 676574 BANK OF AMERICA CORPORATION COM 060505104 423656 31782153 SH SOLE 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COM 478366107 71181 1712328 SH SOLE 241400 0 1470928 JONES GROUP INC COM 48020T101 125357 9116861 SH SOLE 5736100 0 3380761 JPMORGAN CHASE & CO COM 46625H100 627771 13617597 SH SOLE 6042066 0 7575531 KAISER ALUMINUM CORP COM PAR $0.01 483007704 3457 70200 SH SOLE 35800 0 34400 KEYCORP NEW COM 493267108 103294 11632226 SH SOLE 5421683 0 6210543 KEYCORP NEW PFD 7.75% SR A 493267405 3394 30200 PRN SOLE 30200 0 0 KIMBERLY CLARK CORP COM 494368103 35775 548111 SH SOLE 81840 0 466271 KINETIC CONCEPTS INC COM NEW 49460W208 105101 1931300 SH SOLE 1164400 0 766900 KRAFT FOODS INC CL A 50075N104 115367 3678783 SH SOLE 1513956 0 2164827 LAKES ENTMNT INC COM 51206P109 1847 684200 SH SOLE 381500 0 302700 LIFEPOINT HOSPITALS INC COM 53219L109 43169 1074400 SH SOLE 604900 0 469500 LILLY ELI & CO COM 532457108 325510 9255321 SH SOLE 4210438 0 5044883 LOCKHEED MARTIN CORP COM 539830109 481421 5987820 SH SOLE 2747750 0 3240070 MAGNA INTL INC COM 559222401 52341 1092492 SH SOLE 393500 0 698992 MANPOWER 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NOVELL INC COM 670006105 20950 3532900 SH SOLE 1870700 0 1662200 ON SEMICONDUCTOR CORP COM 682189105 40152 4068100 SH SOLE 2961600 0 1106500 ORACLE CORP COM 68389X105 73130 2191478 SH SOLE 319900 0 1871578 OVERHILL FARMS INC COM 690212105 16596 2725052 SH SOLE 1302400 0 1422652 PACCAR INC COM 693718108 187598 3583528 SH SOLE 1493100 0 2090428 PENNEY J C INC COM 708160106 436186 12146642 SH SOLE 5983272 0 6163370 PEPSICO INC COM 713448108 71854 1115579 SH SOLE 163936 0 951643 PETROQUEST ENERGY INC COM 716748108 3786 404500 SH SOLE 128500 0 276000 PFIZER INC COM 717081103 188650 9288549 SH SOLE 4209338 0 5079211 PHH CORP COM NEW 693320202 76842 3529700 SH SOLE 2042400 0 1487300 PHILIP MORRIS INTL INC COM 718172109 128506 1958030 SH SOLE 926418 0 1031612 PNC FINL SVCS GROUP INC COM 693475105 254795 4045014 SH SOLE 1887404 0 2157610 PORTLAND GEN ELEC CO COM NEW 736508847 88555 3725500 SH SOLE 2300100 0 1425400 PPG INDS INC COM 693506107 69374 728642 SH SOLE 188264 0 540378 PPL CORP COM 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