13F-HR 1 hotchkis2q2012.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: June 30, 2012 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 August 14, 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: 167 Form 13F Information Table Value Total: $15,801,993 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AIR T INC COM 009207101 355 42900 SH SOLE 42900 0 0 ALLIANT TECHSYSTEMS INC COM 018804104 58117 1149239 SH SOLE 769639 0 379600 ALLSTATE CORP COM 020002101 506893 14445508 SH SOLE 7358908 0 7086600 AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 1050 101800 SH SOLE 101800 0 0 AMERICAN INTL GROUP INC COM NEW 026874784 513363 15997587 SH SOLE 6493487 0 9504100 APACHE CORP COM 037411105 1345 15300 SH SOLE 0 0 15300 ARGO GROUP INTL HLDGS LTD COM G0464B107 13429 458800 SH SOLE 162400 0 296400 ARRIS GROUP INC COM 04269Q100 106854 7681826 SH SOLE 5733726 0 1948100 ARVINMERITOR INC FRNT 4.000% 2/1 043353AH4 5209 7063000 PRN SOLE 7063000 0 0 ASSOCIATED BANC CORP COM 045487105 11759 891497 SH SOLE 244197 0 647300 ASTRAZENECA PLC SPONSORED ADR 046353108 85599 1912816 SH SOLE 890616 0 1022200 AVIS BUDGET GROUP COM 053774105 14220 935500 SH SOLE 321000 0 614500 BANK OF AMERICA CORPORATION COM 060505104 319949 39113617 SH SOLE 16510774 0 22602843 BANK OF NEW YORK MELLON CORP COM 064058100 312 14200 SH SOLE 14200 0 0 BB&T CORP COM 054937107 561 18200 SH SOLE 18200 0 0 BLOCK H & R INC COM 093671105 170390 10662676 SH SOLE 8423976 0 2238700 BOEING CO COM 097023105 80601 1084800 SH SOLE 369900 0 714900 BOULDER TOTAL RETURN FD INC COM 101541100 492 29700 SH SOLE 29700 0 0 CA INC COM 12673P105 268568 9913920 SH SOLE 4962177 0 4951743 CAPITAL ONE FINL CORP COM 14040H105 247456 4527195 SH SOLE 1882395 0 2644800 CAPLEASE INC COM 140288101 7545 1818000 SH SOLE 554700 0 1263300 CARNIVAL CORP PAIRED CTF 143658300 66340 1935800 SH SOLE 748600 0 1187200 CELANESE CORP DEL COM SER A 150870103 1928 55700 SH SOLE 0 0 55700 CHEVRON CORP NEW COM 166764100 5043 47800 SH SOLE 20900 0 26900 CIBER INC COM 17163B102 4381 1016400 SH SOLE 318300 0 698100 CIRCOR INTL INC COM 17273K109 17740 520400 SH SOLE 155700 0 364700 CIT GROUP INC COM NEW 125581801 9641 270500 SH SOLE 260300 0 10200 CITIGROUP INC UNIT 99/99/9999 172967416 4729 55267 PRN SOLE 55267 0 0 CITIGROUP INC COM NEW 172967424 340793 12433173 SH SOLE 5141472 0 7291701 CNO FINL GROUP INC COM 12621E103 79809 10231934 SH SOLE 7383034 0 2848900 COBALT INTL ENERGY INC COM 19075F106 278597 11855202 SH SOLE 4937002 0 6918200 COMCAST CORP NEW CL A SPL 20030N200 214079 6817800 SH SOLE 3130800 0 3687000 COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 23896 4105900 SH SOLE 1943300 0 2162600 CONOCOPHILLIPS COM 20825C104 198742 3556594 SH SOLE 1714194 0 1842400 CON-WAY INC COM 205944101 115561 3200262 SH SOLE 2307762 0 892500 CORNING INC COM 219350105 195152 15092936 SH SOLE 6026536 0 9066400 COVIDIEN PLC SHS G2554F113 78736 1471698 SH SOLE 165298 0 1306400 CUMMINS INC COM 231021106 234831 2423186 SH SOLE 1010086 0 1413100 CVS CAREMARK CORPORATION COM 126650100 178317 3815900 SH SOLE 1603900 0 2212000 DELPHI AUTOMOTIVE PLC SHS G27823106 50083 1964049 SH SOLE 956749 0 1007300 DEVRY INC DEL COM 251893103 26304 849323 SH SOLE 596123 0 253200 DIAMOND HILL FINL TRNDS FD I COM 25264C101 112 11200 SH SOLE 11200 0 0 EDISON INTL COM 281020107 168000 3636368 SH SOLE 1580668 0 2055700 EMBRAER S A SP ADR REP 4 COM 29082A107 72140 2719200 SH SOLE 1659300 0 1059900 EMCOR GROUP INC COM 29084Q100 7701 276820 SH SOLE 161920 0 114900 EMPLOYERS HOLDINGS INC COM 292218104 12682 703000 SH SOLE 210400 0 492600 ENDURANCE SPECIALTY HLDGS LT SHS G30397106 2797 73000 SH SOLE 53500 0 19500 EXELON CORP COM 30161N101 376409 10005559 SH SOLE 4318659 0 5686900 EXXON MOBIL CORP COM 30231G102 5810 67900 SH SOLE 15200 0 52700 FEDEX CORP COM 31428X106 104380 1139400 SH SOLE 146600 0 992800 FIRST FINL HLDGS INC COM 320239106 4479 417829 SH SOLE 94229 0 323600 FIRST HORIZON NATL CORP COM 320517105 40086 4634229 SH SOLE 3043404 0 1590825 FIRST INTST BANCSYSTEM INC COM CL A 32055Y201 11343 796582 SH SOLE 262345 0 534237 FIRST NIAGARA FINL GP INC COM 33582V108 4601 601500 SH SOLE 212900 0 388600 FORTUNE BRANDS HOME & SEC IN COM 34964C106 21720 975300 SH SOLE 467100 0 508200 FURNITURE BRANDS INTL INC COM 360921100 2200 1774200 SH SOLE 458900 0 1315300 GAP INC DEL COM 364760108 143164 5232600 SH SOLE 2235600 0 2997000 GENERAL MLS INC COM 370334104 63861 1657016 SH SOLE 658116 0 998900 GENERAL MTRS CO COM 37045V100 55804 2829814 SH SOLE 477414 0 2352400 GENERAL MTRS CO *W EXP 07/10/201 37045V118 801 72702 SH SOLE 72702 0 0 GEO GROUP INC COM 36159R103 29727 1308400 SH SOLE 473900 0 834500 GLOBAL INDEMNITY PLC SHS G39319101 21053 1039667 SH SOLE 354277 0 685390 GLOBAL PMTS INC COM 37940X102 1937 44800 SH SOLE 0 0 44800 GOODYEAR TIRE & RUBR CO COM 382550101 54918 4650114 SH SOLE 4474914 0 175200 GOODYEAR TIRE & RUBR CO PFD CONV 382550309 5994 138750 PRN SOLE 138750 0 0 GREAT PLAINS ENERGY INC COM 391164100 62341 2911748 SH SOLE 1746848 0 1164900 HANOVER INS GROUP INC COM 410867105 501 12800 SH SOLE 12800 0 0 HEIDRICK & STRUGGLES INTL IN COM 422819102 13535 773400 SH SOLE 248700 0 524700 HEWLETT PACKARD CO COM 428236103 525295 26121070 SH SOLE 10641270 0 15479800 HOME DEPOT INC COM 437076102 35184 663966 SH SOLE 91184 0 572782 HOME FED BANCORP INC MD COM 43710G105 1796 171000 SH SOLE 0 0 171000 HORACE MANN EDUCATORS CORP N COM 440327104 27040 1546929 SH SOLE 546729 0 1000200 HUDSON GLOBAL INC COM 443787106 19431 4659770 SH SOLE 2291815 0 2367955 HUNTINGTON INGALLS INDS INC COM 446413106 112752 2801987 SH SOLE 2091887 0 710100 INTERNATIONAL BUSINESS MACHS COM 459200101 3814 19500 SH SOLE 0 0 19500 INTERPUBLIC GROUP COS INC COM 460690100 151863 13996568 SH SOLE 6673272 0 7323296 JOHNSON & JOHNSON COM 478160104 380621 5633818 SH SOLE 2198818 0 3435000 JOHNSON CTLS INC COM 478366107 232365 8385612 SH SOLE 3231712 0 5153900 JONES GROUP INC COM 48020T101 6713 702181 SH SOLE 675781 0 26400 JPMORGAN CHASE & CO COM 46625H100 533984 14944979 SH SOLE 6194368 0 8750611 KEYCORP NEW COM 493267108 115763 14956476 SH SOLE 7352378 0 7604098 KEYCORP NEW PFD 7.75% SR A 493267405 3367 30200 PRN SOLE 30200 0 0 KIMBERLY CLARK CORP COM 494368103 35751 426780 SH SOLE 57780 0 369000 KOSMOS ENERGY LTD SHS G5315B107 25217 2282100 SH SOLE 2196000 0 86100 KRAFT FOODS INC CL A 50075N104 85270 2207911 SH SOLE 959011 0 1248900 LAKES ENTMNT INC COM 51206P109 1744 601500 SH SOLE 302200 0 299300 LEAR CORP COM NEW 521865204 38451 1019100 SH SOLE 768400 0 250700 LEXMARK INTL NEW CL A 529771107 24596 925348 SH SOLE 663548 0 261800 LIFEPOINT HOSPITALS INC COM 53219L109 47988 1171000 SH SOLE 770100 0 400900 LILLY ELI & CO COM 532457108 68917 1606080 SH SOLE 664730 0 941350 LINCARE HLDGS INC COM 532791100 14533 427200 SH SOLE 162500 0 264700 LOCKHEED MARTIN CORP COM 539830109 278417 3197257 SH SOLE 1418657 0 1778600 MAGNA INTL INC COM 559222401 263778 6684683 SH SOLE 3729283 0 2955400 MANPOWERGROUP INC COM 56418H100 114817 3132800 SH SOLE 2459900 0 672900 MARRIOTT VACATIONS WRLDWDE C COM 57164Y107 7218 233000 SH SOLE 90300 0 142700 MEDTRONIC INC COM 585055106 35025 904326 SH SOLE 119726 0 784600 MERCK & CO INC NEW COM 58933Y105 126880 3039035 SH SOLE 1385256 0 1653779 MERITOR INC COM 59001K100 4652 891273 SH SOLE 376673 0 514600 METLIFE INC COM 59156R108 121598 3941603 SH SOLE 1608487 0 2333116 MICROSOFT CORP COM 594918104 358720 11726719 SH SOLE 4921519 0 6805200 MILLER INDS INC TENN COM NEW 600551204 26709 1676628 SH SOLE 829736 0 846892 MOLSON COORS BREWING CO CL B 60871R209 52064 1251229 SH SOLE 575629 0 675600 MORGAN STANLEY COM NEW 617446448 49771 3411300 SH SOLE 529600 0 2881700 MUELLER WTR PRODS INC COM SER A 624758108 4813 1391100 SH SOLE 449800 0 941300 MURPHY OIL CORP COM 626717102 12583 250200 SH SOLE 215400 0 34800 NATIONAL WESTN LIFE INS CO CL A 638522102 2245 15817 SH SOLE 5717 0 10100 NEXTERA ENERGY INC COM 65339F101 661 9600 SH SOLE 9600 0 0 NORANDA ALUM HLDG CORP COM 65542W107 18736 2353798 SH SOLE 824998 0 1528800 NORTHROP GRUMMAN CORP COM 666807102 189728 2974264 SH SOLE 1219164 0 1755100 NOVARTIS A G SPONSORED ADR 66987V109 127794 2286119 SH SOLE 827619 0 1458500 NRG ENERGY INC COM NEW 629377508 256263 14761700 SH SOLE 9247700 0 5514000 OMNICARE INC COM 681904108 48962 1567789 SH SOLE 1508689 0 59100 ON SEMICONDUCTOR CORP COM 682189105 40591 5717000 SH SOLE 3799000 0 1918000 ORACLE CORP COM 68389X105 207902 7000063 SH SOLE 939463 0 6060600 OVERHILL FARMS INC COM 690212105 10218 2606752 SH SOLE 1232500 0 1374252 PACCAR INC COM 693718108 246813 6297848 SH SOLE 2698548 0 3599300 PENNEY J C INC COM 708160106 169214 7259275 SH SOLE 3486200 0 3773075 PEPSICO INC COM 713448108 182357 2580760 SH SOLE 1127560 0 1453200 PFIZER INC COM 717081103 130211 5661332 SH SOLE 2738482 0 2922850 PHARMERICA CORP COM 71714F104 8652 792295 SH SOLE 284495 0 507800 PHH CORP COM NEW 693320202 76263 4362900 SH SOLE 3169100 0 1193800 PHILIP MORRIS INTL INC COM 718172109 1123 12870 SH SOLE 12870 0 0 PHILLIPS 66 COM 718546104 58323 1754600 SH SOLE 844100 0 910500 PNC FINL SVCS GROUP INC COM 693475105 112601 1842595 SH SOLE 805406 0 1037189 PORTLAND GEN ELEC CO COM NEW 736508847 23786 892200 SH SOLE 277400 0 614800 PPL CORP COM 69351T106 75212 2704494 SH SOLE 2091294 0 613200 PRUDENTIAL FINL INC COM 744320102 28264 583600 SH SOLE 77200 0 506400 PUBLIC SVC ENTERPRISE GROUP COM 744573106 368850 11349218 SH SOLE 5209718 0 6139500 QUEST DIAGNOSTICS INC COM 74834L100 64297 1073400 SH SOLE 276000 0 797400 QUIKSILVER INC COM 74838C106 27683 11881000 SH SOLE 5147200 0 6733800 REGIONS FINANCIAL CORP NEW COM 7591EP100 125309 18564340 SH SOLE 15038340 0 3526000 RENT A CTR INC NEW COM 76009N100 31897 945370 SH SOLE 336270 0 609100 ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 2050 115600 SH SOLE 115600 0 0 ROYAL DUTCH SHELL PLC SPON ADR B 780259107 314186 4492866 SH SOLE 1939566 0 2553300 SAFEWAY INC COM NEW 786514208 94269 5193900 SH SOLE 2909300 0 2284600 SANOFI SPONSORED ADR 80105N105 172702 4571262 SH SOLE 1794662 0 2776600 SOUTHWEST AIRLS CO COM 844741108 19291 2092300 SH SOLE 2013400 0 78900 STONE ENERGY CORP COM 861642106 57041 2251026 SH SOLE 1504726 0 746300 SUNTRUST BKS INC COM 867914103 187170 7724721 SH SOLE 3785321 0 3939400 SUPERVALU INC COM 868536103 30206 5831291 SH SOLE 5608791 0 222500 SYMANTEC CORP COM 871503108 13406 917600 SH SOLE 883300 0 34300 SYMETRA FINL CORP COM 87151Q106 29821 2363032 SH SOLE 805622 0 1557410 SYMMETRICOM INC COM 871543104 5156 860800 SH SOLE 302100 0 558700 SYNOVUS FINL CORP COM 87161C105 30913 15612465 SH SOLE 12256565 0 3355900 TCF FINL CORP COM 872275102 5079 442428 SH SOLE 150928 0 291500 TE CONNECTIVITY LTD REG SHS H84989104 142344 4460795 SH SOLE 2095140 0 2365655 TEREX CORP NEW COM 880779103 5128 287633 SH SOLE 276833 0 10800 TEXAS INSTRS INC COM 882508104 100211 3492900 SH SOLE 1477000 0 2015900 TIME WARNER CABLE INC COM 88732J207 72100 878200 SH SOLE 114400 0 763800 TORCHMARK CORP COM 891027104 34288 678300 SH SOLE 652700 0 25600 TOTAL S A SPONSORED ADR 89151E109 248930 5537941 SH SOLE 2041641 0 3496300 TRAVELERS COMPANIES INC COM 89417E109 7967 124800 SH SOLE 95600 0 29200 TREE COM INC COM 894675107 992 86700 SH SOLE 86700 0 0 TYCO INTERNATIONAL LTD SHS H89128104 2037 38550 SH SOLE 0 0 38550 UNILEVER PLC SPON ADR NEW 904767704 208 6152 SH SOLE 6152 0 0 UNITED THERAPEUTICS CORP DEL COM 91307C102 3555 72000 SH SOLE 69300 0 2700 UNUM GROUP COM 91529Y106 265143 13860050 SH SOLE 8581150 0 5278900 VALASSIS COMMUNICATIONS INC COM 918866104 160641 7385800 SH SOLE 5613500 0 1772300 VERIZON COMMUNICATIONS INC COM 92343V104 1064 2800 SH PUT SOLE 2800 0 0 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 425098 15085095 SH SOLE 6279995 0 8805100 WAL-MART STORES INC COM 931142103 209298 3001976 SH SOLE 1247376 0 1754600 WEBSTER FINL CORP CONN COM 947890109 7795 359892 SH SOLE 96292 0 263600 WELLS FARGO & CO NEW COM 949746101 455741 13628610 SH SOLE 5404024 0 8224586 WESTAR ENERGY INC COM 95709T100 10785 360100 SH SOLE 109300 0 250800 XL GROUP PLC SHS G98290102 148006 7034487 SH SOLE 3719887 0 3314600 ZIMMER HLDGS INC COM 98956P102 104534 1624200 SH SOLE 789400 0 834800 ZIONS BANCORPORATION COM 989701107 24518 1262501 SH SOLE 1214901 0 47600