13F-HR 1 hw13f084.txt 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, 2008 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, 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 12, 2009 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: 128 Form 13F Information Table Value Total: $10,451,871 (thousands) List of Other Included Managers: NONE 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 49857. 4427800. SH SOLE 2622900. 0. 1804900. ALCATEL-LUCENT SPONSORED ADR 013904305 162951. 75791100. SH SOLE 48810300. 0.26980800. ALLSTATE CORP COM 020002101 121409. 3706000. SH SOLE 2312500. 0. 1393500. ALTRIA GROUP INC COM 02209S103 23985. 1592661. SH SOLE 1278061. 0. 314600. AMERICAN EXPRESS CO COM 025816109 16849. 908300. SH SOLE 348400. 0. 559900. AUTONATION INC COM 05329W102 66107. 6691000. SH SOLE 5254400. 0. 1436600. BMC SOFTWARE INC COM 055921100 206507. 7674000. SH SOLE 6072200. 0. 1601800. BANK OF AMERICA CORPORATION COM 060505104 339568. 24117069. SH SOLE 14314033. 0. 9803036. BOWNE & CO INC COM 103043105 174. 29600. SH SOLE 0. 0. 29600. BRISTOL MYERS SQUIBB CO COM 110122108 167026. 7183900. SH SOLE 4432200. 0. 2751700. CIT GROUP INC COM 125581108 46950. 10341400. SH SOLE 8607300. 0. 1734100. CNA FINL CORP COM 126117100 35754. 2174824. SH SOLE 1806724. 0. 368100. CA INC COM 12673P105 564898. 30485610. SH SOLE 19298733. 0.11186877. CABOT MICROELECTRONICS CORP COM 12709P103 5983. 229500. SH SOLE 108800. 0. 120700. CAPLEASE INC COM 140288101 5988. 3461500. SH SOLE 1787400. 0. 1674100. CHEVRON CORP NEW COM 166764100 10267. 138800. SH SOLE 124600. 0. 14200. CITADEL BROADCASTING CORP COM 17285T106 3318. 20739800. SH SOLE 18278500. 0. 2461300. CITIGROUP INC COM 172967101 170980. 25481350. SH SOLE 15509200. 0. 9972150. CITY NATL CORP COM 178566105 4062. 83400. SH SOLE 38300. 0. 45100. COCA COLA CO COM 191216100 71241. 1573700. SH SOLE 566900. 0. 1006800. COMERICA INC COM 200340107 91953. 4632400. SH SOLE 3324300. 0. 1308100. CON-WAY INC COM 205944101 31869. 1198099. SH SOLE 838699. 0. 359400. CONSECO INC COM NEW 208464883 62288. 12024641. SH SOLE 8168541. 0. 3856100. CORINTHIAN COLLEGES INC COM 218868107 5363. 327600. SH SOLE 176800. 0. 150800. EASTMAN CHEM CO COM 277432100 134181. 4231500. SH SOLE 3027400. 0. 1204100. EBAY INC COM 278642103 157541. 11285150. SH SOLE 7057700. 0. 4227450. EMBRAER-EMPRESA BRASILEIRA D SP ADR COM SHS 29081M102 139660. 8615700. SH SOLE 6213000. 0. 2402700. EMPLOYERS HOLDINGS INC COM 292218104 10659. 645978. SH SOLE 328478. 0. 317500. ENTERGY CORP NEW COM 29364G103 105957. 1274592. SH SOLE 684500. 0. 590092. EXELON CORP COM 30161N101 302068. 5431900. SH SOLE 3327300. 0. 2104600. EXXON MOBIL CORP COM 30231G102 35724. 447500. SH SOLE 160900. 0. 286600. FPL GROUP INC COM 302571104 266787. 5300750. SH SOLE 3472350. 0. 1828400. FIFTH THIRD BANCORP COM 316773100 34677. 4198200. SH SOLE 3493600. 0. 704600. FIRST HORIZON NATL CORP COM 320517105 81942. 7752342. SH SOLE 6035779. 0. 1716563. FOUNDATION COAL HLDGS INC COM 35039W100 17358. 1238110. SH SOLE 893400. 0. 344710. GAP INC DEL COM 364760108 149136. 11137900. SH SOLE 7585500. 0. 3552400. GENWORTH FINL INC COM CL A 37247D106 44317. 15659800. SH SOLE 10294600. 0. 5365200. GOODYEAR TIRE & RUBR CO COM 382550101 9643. 1615200. SH SOLE 1344400. 0. 270800. GREAT ATLANTIC & PAC TEA INC COM 390064103 238. 37999. SH SOLE 8978. 0. 29021. GREAT PLAINS ENERGY INC COM 391164100 60373. 3123286. SH SOLE 2142386. 0. 980900. HANOVER INS GROUP INC COM 410867105 107335. 2497900. SH SOLE 1795500. 0. 702400. HEIDRICK & STRUGGLES INTL IN COM 422819102 7231. 335707. SH SOLE 162307. 0. 173400. HOME DEPOT INC COM 437076102 273582. 11884543. SH SOLE 6923704. 0. 4960839. HOME FED BANCORP INC MD COM 43710G105 2038. 190111. SH SOLE 411. 0. 189700. HUDSON HIGHLAND GROUP INC COM 443792106 12047. 3596100. SH SOLE 2444600. 0. 1151500. IMS HEALTH INC COM 449934108 41552. 2740900. SH SOLE 2150300. 0. 590600. INFOGROUP INC COM 45670G108 2370. 499900. SH SOLE 202000. 0. 297900. INTERPUBLIC GROUP COS INC COM 460690100 64428. 16269810. SH SOLE 8962710. 0. 7307100. JPMORGAN & CHASE & CO COM 46625H100 292369. 9272735. SH SOLE 5455024. 0. 3817711. JOHNSON & JOHNSON COM 478160104 31919. 533500. SH SOLE 184500. 0. 349000. JONES APPAREL GROUP INC COM 480074103 54838. 9357951. SH SOLE 6932951. 0. 2425000. K-SWISS INC CL A 482686102 2466. 216318. SH SOLE 99618. 0. 116700. KSW INC COM 48268R106 91. 30400. SH SOLE 30400. 0. 0. KELLY SVCS INC CL A 488152208 2110. 162200. SH SOLE 82400. 0. 79800. KEYCORP NEW COM 493267108 165393. 19412319. SH SOLE 13181291. 0. 6231028. KING PHARMACEUTICALS INC COM 495582108 79867. 7520400. SH SOLE 5658200. 0. 1862200. KORN FERRY INTL COM NEW 500643200 1350. 118200. SH SOLE 0. 0. 118200. KRAFT FOODS INC CL A 50075N104 17431. 649200. SH SOLE 223400. 0. 425800. LAKES ENTMNT INC COM 51206P109 674. 167600. SH SOLE 167600. 0. 0. LAWSON SOFTWARE INC NEW COM 52078P102 15029. 3170700. SH SOLE 1512700. 0. 1658000. LILLY ELI & CO COM 532457108 284292. 7059650. SH SOLE 4253600. 0. 2806050. LIMITED BRANDS INC COM 532716107 74431. 7413400. SH SOLE 5032900. 0. 2380500. LINCARE HLDGS INC COM 532791100 41717. 1549100. SH SOLE 1174200. 0. 374900. LIZ CLAIBORNE INC COM 539320101 2520. 969100. SH SOLE 813700. 0. 155400. LODGIAN INC COM PAR $.01 54021P403 4531. 2127209. SH SOLE 1201109. 0. 926100. LORILLARD INC COM 544147101 173874. 3085600. SH SOLE 2209400. 0. 876200. MI DEVS INC CL A SUB VTG 55304X104 39978. 5359000. SH SOLE 4113400. 0. 1245600. MAGNA INTL INC CL A 559222401 10452. 349200. SH SOLE 299200. 0. 50000. MANPOWER INC COM 56418H100 63075. 1855700. SH SOLE 1483300. 0. 372400. MAXIM INTEGRATED PRODS INC COM 57772K101 25142. 2201600. SH SOLE 1838100. 0. 363500. MERCK & CO INC COM 589331107 293469. 9653600. SH SOLE 6009800. 0. 3643800. METLIFE INC COM 59156R108 125594. 3602813. SH SOLE 2121546. 0. 1481267. MICROSOFT CORP COM 594918104 368158. 18938150. SH SOLE 11194350. 0. 7743800. MILLER INDS INC TENN COM NEW 600551204 11070. 2088598. SH SOLE 1442298. 0. 646300. MURPHY OIL CORP COM 626717102 18121. 408600. SH SOLE 342800. 0. 65800. NATIONAL CITY CORP COM 635405103 104825. 57914100. SH SOLE 35069800. 0.22844300. NATIONAL SEMICONDUCTOR CORP COM 637640103 26718. 2653200. SH SOLE 2077500. 0. 575700. NATIONWIDE FINL SVCS INC CL A 638612101 1008. 19300. SH SOLE 19300. 0. 0. NESS TECHNOLOGIES INC COM 64104X108 3224. 753200. SH SOLE 308800. 0. 444400. NORTHROP GRUMMAN CORP COM 666807102 163554. 3631300. SH SOLE 2076900. 0. 1554400. NOVELL INC COM 670006105 25353. 6517500. SH SOLE 4637700. 0. 1879800. ON SEMICONDUCTOR CORP COM 682189105 33365. 9813300. SH SOLE 6968000. 0. 2845300. ORACLE CORP COM 68389X105 96678. 5452800. SH SOLE 1924500. 0. 3528300. OVERHILL FARMS INC COM 690212105 578. 137600. SH SOLE 137600. 0. 0. PHH CORP COM NEW 693320202 40573. 3187200. SH SOLE 2304200. 0. 883000. PMA CAP CORP CL A 693419202 2936. 414700. SH SOLE 164100. 0. 250600. PACCAR INC COM 693718108 177981. 6223100. SH SOLE 3991900. 0. 2231200. PATNI COMPUTER SYS SPONS ADR 703248203 7648. 1298500. SH SOLE 559900. 0. 738600. PENNEY J C INC COM 708160106 138376. 7024175. SH SOLE 4135700. 0. 2888475. PFIZER INC COM 717081103 149443. 8438350. SH SOLE 5111400. 0. 3326950. PHILIP MORRIS INTL INC COM 718172109 413974. 9514461. SH SOLE 5696761. 0. 3817700. PHILLIPS VAN HEUSEN CORP COM 718592108 6319. 313900. SH SOLE 144100. 0. 169800. PORTLAND GEN ELEC CO COM NEW 736508847 39690. 2038500. SH SOLE 1487100. 0. 551400. PRUDENTIAL FINL INC COM 744320102 42496. 1404370. SH SOLE 823200. 0. 581170. QUIKSILVER INC COM 74838C106 8245. 4481200. SH SOLE 1921100. 0. 2560100. RENT A CTR INC NEW COM 76009N100 79008. 4476375. SH SOLE 3331975. 0. 1144400. ROHM & HAAS CO COM 775371107 126311. 2044200. SH SOLE 1094000. 0. 950200. ROYAL DUTCH SHELL PLC SPON ADR B 780259107 397168. 7722500. SH SOLE 4486600. 0. 3235900. RUSS BERRIE & CO COM 782233100 106. 35800. SH SOLE 0. 0. 35800. SAFEWAY INC COM NEW 786514208 314075. 13213100. SH SOLE 8543800. 0. 4669300. SCHERING PLOUGH CORP COM 806605101 125395. 7363200. SH SOLE 2652200. 0. 4711000. SOTHEBYS COM 835898107 3150. 354352. SH SOLE 179252. 0. 175100. SOVEREIGN BANCORP INC COM 845905108 5946. 1995400. SH SOLE 1651100. 0. 344300. SPHERION CORP COM 848420105 5494. 2485819. SH SOLE 1201919. 0. 1283900. SUN MICROSYSTEMS INC COM NEW 866810203 13393. 3506100. SH SOLE 2917100. 0. 589000. SUNTRUST BKS INC COM 867914103 23889. 808700. SH SOLE 610300. 0. 198400. TELLABS INC COM 879664100 19298. 4684000. SH SOLE 3998500. 0. 685500. TERADATA CORP DEL COM 88076W103 2432. 164000. SH SOLE 83400. 0. 80600. TEXAS INSTRS INC COM 882508104 106459. 6859500. SH SOLE 4027300. 0. 2832200. THOR INDS INC COM 885160101 1860. 141100. SH SOLE 66100. 0. 75000. TIBCO SOFTWARE INC COM 88632Q103 2549. 491200. SH SOLE 249400. 0. 241800. TRAVELERS COMPANIES INC COM 89417E109 56595. 1252100. SH SOLE 441900. 0. 810200. UNILEVER PLC SPON ADR NEW 904767704 18006. 782200. SH SOLE 271100. 0. 511100. UNISYS CORP COM 909214108 44. 51500. SH SOLE 0. 0. 51500. UNITED AMER INDEMNITY LTD CL A 90933T109 24468. 1910062. SH SOLE 951443. 0. 958619. U STORE IT TR COM 91274F104 6603. 1483884. SH SOLE 674684. 0. 809200. UNUM GROUP COM 91529Y106 59021. 3173150. SH SOLE 2422150. 0. 751000. VALASSIS COMMUNICATIONS INC COM 918866104 6788. 5142214. SH SOLE 3357114. 0. 1785100. VOLCOM INC COM 92864N101 2367. 217200. SH SOLE 105400. 0. 111800. WACHOVIA CORP NEW COM 929903102 212420. 38342977. SH SOLE 22177500. 0.16165477. WAL MART STORES INC COM 931142103 94736. 1689900. SH SOLE 913800. 0. 776100. WARNACO GROUP INC COM NEW 934390402 11972. 609900. SH SOLE 290500. 0. 319400. WEBSTER FINL CORP CONN COM 947890109 11719. 850469. SH SOLE 382169. 0. 468300. WESTAR ENERGY INC COM 95709T100 35954. 1753000. SH SOLE 1221300. 0. 531700. WISCONSIN ENERGY CORP COM 976657106 86143. 2052000. SH SOLE 1558600. 0. 493400. TYCO INTL LTD BERMUDA SHS G9143X208 254980. 11804630. SH SOLE 6980500. 0. 4824130. TYCO ELECTRONICS LTD COM NEW G9144P105 266273. 16426480. SH SOLE 10312100. 0. 6114380. XL CAP LTD CL A G98255105 68113. 18408800. SH SOLE 11867000. 0. 6541800. GRANDTOTAL 10365081.