13F-HR 1 hw4q2011.txt HOTCHKIS AND 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: December 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 February 13, 2012 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: 161 Form 13F Information Table Value Total: $15,216,680 (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 8150 371300 SH SOLE 139100 0 232200 AEROPOSTALE COM 007865108 11857 777528 SH SOLE 724628 0 52900 AIR T INC COM 009207101 364 42900 SH SOLE 42900 0 0 ALLIANT TECHSYSTEMS INC COM 018804104 50593 885109 SH SOLE 437709 0 447400 ALLSTATE CORP COM 020002101 565618 20635449 SH SOLE 10492049 0 10143400 AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 341 61900 SH SOLE 61900 0 0 AMERICAN INTL GROUP INC COM NEW 026874784 132640 5717262 SH SOLE 756262 0 4961000 APACHE CORP COM 037411105 1748 19300 SH SOLE 0 0 19300 ARRIS GROUP INC COM 04269Q100 80513 7441163 SH SOLE 5416463 0 2024700 ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 4591 7063000 PRN SOLE 7063000 0 0 ASSOCIATED BANC CORP COM 045487105 10135 907342 SH SOLE 239042 0 668300 BANK OF AMERICA CORPORATION COM 060505104 216534 38944996 SH SOLE 16786153 0 22158843 BANK OF NEW YORK MELLON CORP COM 064058100 283 14200 SH SOLE 14200 0 0 BB&T CORP COM 054937107 458 18200 SH SOLE 18200 0 0 BLOCK H & R INC COM 093671105 148903 9118376 SH SOLE 7126776 0 1991600 BOEING CO COM 097023105 33103 451300 SH SOLE 86500 0 364800 CA INC COM 12673P105 413287 20444565 SH SOLE 10767423 0 9677142 CAPITAL ONE FINL CORP COM 14040H105 173994 4114300 SH SOLE 1954800 0 2159500 CAPLEASE INC COM 140288101 7553 1869500 SH SOLE 591100 0 1278400 CARNIVAL CORP PAIRED CTF 143658300 57884 1773400 SH SOLE 707100 0 1066300 CELANESE CORP DEL COM SER A 150870103 2466 55700 SH SOLE 0 0 55700 CHEVRON CORP NEW COM 166764100 5022 47200 SH SOLE 19100 0 28100 CIBER INC COM 17163B102 4127 1069206 SH SOLE 346506 0 722700 CIRCOR INTL INC COM 17273K109 12779 361900 SH SOLE 106800 0 255100 CITIGROUP INC UNIT 99/99/9999 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EXP 07/10/201 37045V118 853 72702 SH SOLE 72702 0 0 GENWORTH FINL INC COM CL A 37247D106 318 48500 SH SOLE 48500 0 0 GEO GROUP INC COM 36159R103 4772 284900 SH SOLE 86500 0 198400 GLOBAL INDEMNITY PLC SHS G39319101 31874 1607340 SH SOLE 560636 0 1046704 GLOBAL PMTS INC COM 37940X102 2123 44800 SH SOLE 0 0 44800 GOODYEAR TIRE & RUBR CO COM 382550101 20559 1450890 SH SOLE 1356090 0 94800 GOODYEAR TIRE & RUBR CO PFD CONV 382550309 5047 103750 PRN SOLE 103750 0 0 GREAT PLAINS ENERGY INC COM 391164100 78964 3625513 SH SOLE 2229913 0 1395600 HANOVER INS GROUP INC COM 410867105 2583 73900 SH SOLE 11700 0 62200 HARLEY DAVIDSON INC COM 412822108 35791 920800 SH SOLE 669700 0 251100 HARTFORD FINL SVCS GROUP INC DEP CONV PFD 416515708 2649 141060 PRN SOLE 141060 0 0 HEIDRICK & STRUGGLES INTL IN COM 422819102 13659 634137 SH SOLE 173437 0 460700 HEWLETT PACKARD CO COM 428236103 561897 21812777 SH SOLE 9364577 0 12448200 HOME DEPOT INC COM 437076102 79016 1879541 SH SOLE 901424 0 978117 HOME FED BANCORP INC MD COM 43710G105 1778 171000 SH SOLE 0 0 171000 HONEYWELL INTL INC COM 438516106 10441 192100 SH SOLE 192100 0 0 HORACE MANN EDUCATORS CORP N COM 440327104 19900 1451513 SH SOLE 507513 0 944000 HUDSON HIGHLAND GROUP INC COM 443792106 22790 4757909 SH SOLE 2438154 0 2319755 HUNTINGTON INGALLS INDS INC COM 446413106 123030 3933190 SH SOLE 2633660 0 1299530 INGERSOLL-RAND PLC SHS G47791101 29981 983939 SH SOLE 130239 0 853700 INTERNATIONAL BUSINESS MACHS COM 459200101 7135 38800 SH SOLE 18800 0 20000 INTERPUBLIC GROUP COS INC COM 460690100 116678 11991568 SH SOLE 4336372 0 7655196 JOHNSON & JOHNSON COM 478160104 163133 2487538 SH SOLE 910938 0 1576600 JOHNSON CTLS INC COM 478366107 163507 5230536 SH SOLE 2017736 0 3212800 JONES GROUP INC COM 48020T101 12591 1193478 SH SOLE 1111878 0 81600 JPMORGAN CHASE & CO COM 46625H100 565531 17008453 SH SOLE 7357042 0 9651411 KB HOME COM 48666K109 640 1300 SH PUT SOLE 1300 0 0 KEYCORP NEW COM 493267108 106213 13811794 SH SOLE 6244602 0 7567192 KEYCORP NEW PFD 7.75% SR A 493267405 3190 30200 PRN SOLE 30200 0 0 KIMBERLY CLARK CORP COM 494368103 31203 424180 SH SOLE 59080 0 365100 KOSMOS ENERGY LTD SHS G5315B107 31449 2565200 SH SOLE 2390900 0 174300 KRAFT FOODS INC CL A 50075N104 85999 2301911 SH SOLE 1072411 0 1229500 LAKES ENTMNT INC COM 51206P109 1262 671200 SH SOLE 371900 0 299300 LEXMARK INTL NEW CL A 529771107 18513 559810 SH SOLE 358110 0 201700 LIFEPOINT HOSPITALS INC COM 53219L109 30433 819200 SH SOLE 468700 0 350500 LILLY ELI & CO COM 532457108 188078 4525446 SH SOLE 2135996 0 2389450 LOCKHEED MARTIN CORP COM 539830109 393312 4861709 SH SOLE 2247409 0 2614300 LOWES COS INC COM 548661107 1852 72958 SH SOLE 72958 0 0 MAGNA INTL INC COM 559222401 213530 6410392 SH SOLE 3446592 0 2963800 MANPOWERGROUP INC COM 56418H100 99721 2789400 SH SOLE 2118600 0 670800 MERCK & CO INC NEW COM 58933Y105 153962 4083864 SH SOLE 2134885 0 1948979 MERITOR INC COM 59001K100 4173 784400 SH SOLE 265600 0 518800 METLIFE INC COM 59156R108 171718 5507302 SH SOLE 2760586 0 2746716 MI DEVS INC COM 55304X104 129054 4035460 SH SOLE 2963860 0 1071600 MICROSOFT CORP COM 594918104 347667 13392429 SH SOLE 5979229 0 7413200 MILLER INDS INC TENN COM NEW 600551204 19334 1229118 SH SOLE 560726 0 668392 MORGAN STANLEY COM NEW 617446448 52082 3442300 SH SOLE 445400 0 2996900 MUELLER WTR PRODS INC COM SER A 624758108 3387 1388200 SH SOLE 439200 0 949000 MURPHY OIL CORP COM 626717102 17647 316600 SH SOLE 272000 0 44600 NATIONAL WESTN LIFE INS CO CL A 638522102 2116 15544 SH SOLE 5444 0 10100 NEXTERA ENERGY INC COM 65339F101 584 9600 SH SOLE 9600 0 0 NORANDA ALUM HLDG CORP COM 65542W107 22243 2696071 SH SOLE 1016371 0 1679700 NORTHROP GRUMMAN CORP COM 666807102 188409 3221764 SH SOLE 1392364 0 1829400 NOVARTIS A G SPONSORED ADR 66987V109 138864 2428973 SH SOLE 960773 0 1468200 NXP SEMICONDUCTORS N V COM N6596X109 8688 565235 SH SOLE 526935 0 38300 OMNICARE INC COM 681904108 9990 289984 SH SOLE 272184 0 17800 ON SEMICONDUCTOR CORP COM 682189105 56530 7322600 SH SOLE 5420000 0 1902600 ORACLE CORP COM 68389X105 145497 5672400 SH SOLE 775600 0 4896800 OVERHILL FARMS INC COM 690212105 9723 2620652 SH SOLE 1237500 0 1383152 PACCAR INC COM 693718108 269562 7194086 SH SOLE 3373086 0 3821000 PENNEY J C INC COM 708160106 307487 8747861 SH SOLE 4296786 0 4451075 PEPSICO INC COM 713448108 70602 1064080 SH SOLE 140980 0 923100 PETROQUEST ENERGY INC COM 716748108 2574 390000 SH SOLE 119500 0 270500 PFIZER INC COM 717081103 197105 9108376 SH SOLE 4454726 0 4653650 PHARMERICA CORP COM 71714F104 12136 799500 SH SOLE 274200 0 525300 PHH CORP COM NEW 693320202 47567 4445500 SH SOLE 2984800 0 1460700 PHILIP MORRIS INTL INC COM 718172109 1121 14284 SH SOLE 14284 0 0 PNC FINL SVCS GROUP INC COM 693475105 202596 3513023 SH SOLE 1756534 0 1756489 PORTLAND GEN ELEC CO COM NEW 736508847 22900 905500 SH SOLE 270000 0 635500 PPG INDS INC COM 693506107 30925 370400 SH SOLE 49800 0 320600 PPL CORP COM 69351T106 135028 4589678 SH SOLE 2564778 0 2024900 PRUDENTIAL FINL INC COM 744320102 28989 578400 SH SOLE 78900 0 499500 PUBLIC SVC ENTERPRISE GROUP COM 744573106 348313 10551747 SH SOLE 4655947 0 5895800 QUEST DIAGNOSTICS INC COM 74834L100 51615 889000 SH SOLE 117400 0 771600 QUIKSILVER INC COM 74838C106 30345 8405800 SH SOLE 2923200 0 5482600 REGIONS FINANCIAL CORP NEW COM 7591EP100 101101 23511800 SH SOLE 19299400 0 4212400 RENT A CTR INC NEW COM 76009N100 25571 691113 SH SOLE 214313 0 476800 ROYAL DUTCH SHELL PLC SPON ADR B 780259107 443459 5834218 SH SOLE 2637918 0 3196300 SAFEWAY INC COM NEW 786514208 121300 5765200 SH SOLE 3038300 0 2726900 SAIA INC COM 78709Y105 3614 289548 SH SOLE 19448 0 270100 SANOFI SPONSORED ADR 80105N105 162741 4453766 SH SOLE 1861666 0 2592100 STONE ENERGY CORP COM 861642106 98744 3743155 SH SOLE 2787855 0 955300 SUNTRUST BKS INC COM 867914103 155697 8796421 SH SOLE 3775521 0 5020900 SUPERVALU INC COM 868536103 37358 4600754 SH SOLE 4287154 0 313600 SYMANTEC CORP COM 871503108 8650 552700 SH SOLE 515000 0 37700 SYMETRA FINL CORP COM 87151Q106 27022 2979232 SH SOLE 942422 0 2036810 SYMMETRICOM INC COM 871543104 4639 860600 SH SOLE 292500 0 568100 SYNOVUS FINL CORP COM 87161C105 24092 17086664 SH SOLE 14462064 0 2624600 TCF FINL CORP COM 872275102 4584 444228 SH SOLE 146728 0 297500 TE CONNECTIVITY LTD REG SHS H84989104 107524 3489914 SH SOLE 1469759 0 2020155 TEREX CORP NEW COM 880779103 20737 1534933 SH SOLE 1042733 0 492200 TIME WARNER CABLE INC COM 88732J207 63367 996800 SH SOLE 132000 0 864800 TORCHMARK CORP COM 891027104 33640 775300 SH SOLE 722700 0 52600 TOTAL S A SPONSORED ADR 89151E109 301937 5907586 SH SOLE 2360386 0 3547200 TRAVELERS COMPANIES INC COM 89417E109 5402 91300 SH SOLE 59700 0 31600 TREE COM INC COM 894675107 2685 480408 SH SOLE 480408 0 0 TRIDENT MICROSYSTEMS INC COM 895919108 2 11664 SH SOLE 11664 0 0 TYCO INTERNATIONAL LTD SHS H89128104 1871 40050 SH SOLE 0 0 40050 UNITED STATES STL CORP NEW COM 912909108 662 300 SH PUT SOLE 300 0 0 UNUM GROUP COM 91529Y106 94793 4498950 SH SOLE 3542950 0 956000 VALASSIS COMMUNICATIONS INC COM 918866104 141683 7367795 SH SOLE 5446595 0 1921200 VERIZON COMMUNICATIONS INC COM 92343V104 552 800 SH PUT SOLE 800 0 0 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 383460 13680356 SH SOLE 6042156 0 7638200 WAL MART STORES INC COM 931142103 252555 4226162 SH SOLE 1758562 0 2467600 WEBSTER FINL CORP CONN COM 947890109 12118 594292 SH SOLE 175192 0 419100 WELLS FARGO & CO NEW COM 949746101 526170 19091798 SH SOLE 8288712 0 10803086 WESTAR ENERGY INC COM 95709T100 11204 389300 SH SOLE 108700 0 280600 XL GROUP PLC SHS G98290102 201335 10183867 SH SOLE 5293467 0 4890400 ZIMMER HLDGS INC COM 98956P102 9113 170600 SH SOLE 158900 0 11700