Hotchkis & Wiley Capital Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Hotchkis & Wiley Capital Management LLC reported 465 stock positions worth $29.9 billion. Its top holding was F5 (FFIV) at 4.8% of the portfolio, followed by Citigroup (C, 3.0%) and Ericsson (lm) Tel-SP ADR (ERIC, 2.8%). Compared with Q4 2024, it opened 41 new positions, sold out of 49, added to 193 and reduced 225. The biggest buy was American International (AIG, shares +23%) and the biggest sale Baker Hughes (BKR, shares −44%).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001164833
- Portfolio Value
- $29.9B (Q1 2025)
- SEC Filing
- 0001172661-25-001899 ↗ filed May 14, 2025
Holdings Value
Holdings 465 stocks · $29.9B
| FFIV F5 Inc. | 4.79% | 5,387,700 | $1.4B | Add +6.2% |
| C Citigroup Inc. | 3.00% | 12,657,137 | $898.5M | Reduce -8.8% |
| ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS | 2.80% | 108,167,847 | $839.4M | Reduce -1.8% |
| WDAY Workday Inc. Class A | 2.71% | 3,479,105 | $812.5M | Add +35.6% |
| AIG American International Group | 2.65% | 9,113,636 | $792.3M | Add +22.8% |
| ELV Elevance Health Inc. | 2.58% | 1,777,584 | $773.2M | Add +0.1% |
| APA Apa Corp. | 2.56% | 36,439,749 | $766.0M | Add +2.9% |
| CMCSA Comcast Corp. Class A | 2.42% | 19,653,569 | $725.2M | Add +23.1% |
| WFC Wells Fargo & Co. | 2.36% | 9,821,569 | $705.1M | Reduce -7.1% |
| NOV Nov Inc. | 2.06% | 40,487,598 | $616.2M | Add +2.1% |
| GM General Motors Co. | 2.01% | 12,822,632 | $603.0M | Add +17.5% |
| D Dominion Energy Inc. | 1.99% | 10,647,700 | $597.0M | Add +7.0% |
| MDT Medtronic PLC | 1.87% | 6,228,306 | $559.7M | Reduce -18.3% |
| SHEL Shell PLC-ADR | 1.82% | 7,434,378 | $544.8M | Reduce -12.8% |
| CVS CVS Health Corp. | 1.76% | 7,777,152 | $526.9M | Reduce -39.9% |
| FIS Fidelity National Info Serv | 1.66% | 6,666,499 | $497.9M | Add +17.4% |
| FDX FedEx Corp. | 1.65% | 2,030,687 | $495.0M | Add +7.1% |
| PPL PPL Corp. | 1.63% | 13,532,239 | $488.6M | Reduce -1.9% |
| KHC The Kraft Heinz Co. | 1.59% | 15,603,348 | $474.8M | Reduce -1.4% |
| GEHC GE Healthcare Technology | 1.55% | 5,751,773 | $464.2M | Add +3.2% |
| STT State Street Corp. | 1.52% | 5,069,454 | $453.9M | Reduce -3.7% |
| MGA Magna International Inc. | 1.43% | 12,580,725 | $427.6M | Add +5.9% |
| USB US Bancorp | 1.41% | 10,029,832 | $423.5M | Add +9.4% |
| CMI Cummins Inc. | 1.39% | 1,323,314 | $414.8M | Reduce -0.4% |
| GOOGL Alphabet Inc. Class A | 1.28% | 2,473,767 | $382.5M | Add +1.8% |
| OVV Ovintiv Inc. | 1.21% | 8,437,152 | $361.1M | Add +3.5% |
| CFG Citizens Financial Group | 1.19% | 8,661,636 | $354.9M | Reduce -1.2% |
| HUM Humana Inc. | 1.09% | 1,236,936 | $327.3M | Add +1.6% |
| UL Unilever PLC | 0.99% | 4,999,641 | $297.7M | Reduce -1.3% |
| OLN Olin Corp. | 0.99% | 12,191,163 | $295.5M | Add +11.5% |
| HIG Hartford Insurance Group Inc. | 0.97% | 2,346,034 | $290.3M | Reduce -31.9% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.94% | 3,360,016 | $281.8M | Reduce -21.5% |
| CNH CNH Industrial NV | 0.92% | 22,480,453 | $276.1M | Reduce -1.3% |
| HCA HCA Healthcare Inc. | 0.92% | 795,427 | $274.9M | Add +29.8% |
| APTV Aptiv PLC | 0.87% | 4,400,637 | $261.8M | Reduce -5.5% |
| WPP WPP PLC-Sponsored ADR | 0.85% | 6,720,858 | $255.1M | Add +27.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.84% | 5,992,997 | $250.5M | Add +211.1% |
| CRBG Corebridge Financial Inc. | 0.82% | 7,761,789 | $245.0M | Reduce -2.3% |
| RTX RTX Corp. | 0.78% | 1,760,031 | $233.1M | Reduce -15.4% |
| TEL Te Connectivity PLC | 0.76% | 1,612,071 | $227.8M | Reduce -0.8% |
| BKR Baker Hughes Co. | 0.75% | 5,130,472 | $225.5M | Reduce -44.4% |
| CI The Cigna Group | 0.75% | 679,810 | $223.7M | Reduce -1.8% |
| WBD Warner Bros Discovery Inc. | 0.73% | 20,425,442 | $219.2M | Reduce -0.3% |
| COP Conocophillips | 0.71% | 2,029,848 | $213.2M | Reduce -1.2% |
| PCAR Paccar Inc. | 0.70% | 2,138,846 | $208.3M | Reduce -0.3% |
| CNC Centene Corp. | 0.65% | 3,213,863 | $195.1M | Reduce -1.3% |
| NSC Norfolk Southern Corp. | 0.65% | 823,723 | $195.1M | Reduce -0.6% |
| COF Capital One Financial Corp. | 0.64% | 1,069,354 | $191.7M | Add +21.1% |
| ZBH Zimmer Biomet Holdings Inc. | 0.62% | 1,645,955 | $186.3M | Reduce -1.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.62% | 4,453,266 | $185.8M | Reduce -0.5% |
| BA The Boeing Co. | 0.62% | 1,086,247 | $185.3M | Reduce -1.6% |
| GSK GSK PLC-Spon ADR | 0.60% | 4,638,049 | $179.7M | Reduce -0.1% |
| TFC Truist Financial Corp. | 0.60% | 4,342,819 | $178.7M | Add +9.3% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.57% | 2,790,240 | $171.8M | Add +7.3% |
| CAG Conagra Brands Inc. | 0.55% | 6,132,079 | $163.5M | Reduce -3.0% |
| TKR Timken Co. | 0.48% | 1,990,929 | $143.1M | Add +2.4% |
| SOLV Solventum Corp. | 0.46% | 1,821,606 | $138.5M | Reduce -1.6% |
| MUR Murphy Oil Corp. | 0.46% | 4,812,267 | $136.7M | Add +72.9% |
| PARAA Paramount Global Class B | 0.46% | 11,419,346 | $136.6M | Reduce -1.7% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.45% | 2,277,096 | $134.8M | Add +35.5% |
| MU Micron Technology Inc. | 0.45% | 1,535,297 | $133.4M | Add +1.6% |
| FLR Fluor Corp. | 0.44% | 3,646,837 | $130.6M | Add +43.4% |
| PPG PPG Industries Inc. | 0.42% | 1,162,800 | $127.2M | New |
| AVT Avnet Inc. | 0.41% | 2,581,227 | $124.1M | Add +5.5% |
| SNY Sanofi-ADR | 0.41% | 2,209,996 | $122.6M | Reduce -2.1% |
| EEFT Euronet Worldwide Inc. | 0.38% | 1,069,549 | $114.3M | Add +3.1% |
| BPOP Popular Inc. | 0.37% | 1,203,830 | $111.2M | Reduce -5.0% |
| GD General Dynamics Corp. | 0.37% | 406,362 | $110.8M | Reduce -0.6% |
| LAD Lithia Motors Inc. | 0.37% | 376,467 | $110.5M | Add +8.8% |
| STGW Stagwell Inc. | 0.36% | 17,966,620 | $108.7M | Reduce -4.3% |
| SWK Stanley Black & Decker Inc. | 0.32% | 1,261,139 | $97.0M | Reduce -13.8% |
| DE Deere & Co. | 0.32% | 204,750 | $96.1M | Reduce -2.3% |
| LH Labcorp Holdings Inc. | 0.30% | 389,174 | $90.6M | Reduce -2.2% |
| CTSH Cognizant Tech Solutions-A | 0.28% | 1,086,488 | $83.1M | Reduce -1.3% |
| FCNCA First Citizens Bcshs Class A | 0.27% | 43,589 | $80.8M | Reduce -1.2% |
| BWA Borgwarner Inc. | 0.27% | 2,786,707 | $79.8M | Reduce -0.3% |
| OMC Omnicom Group | 0.27% | 961,923 | $79.8M | Reduce -0.2% |
| ECVT Ecovyst Inc. | 0.26% | 12,621,535 | $78.3M | Reduce -3.9% |
| BKNG Booking Holdings Inc. | 0.26% | 16,986 | $78.3M | Reduce -0.3% |
| FHB First Hawaiian Inc. | 0.26% | 3,188,421 | $77.9M | Reduce -8.3% |
| JLL Jones Lang Lasalle Inc. | 0.25% | 307,632 | $76.3M | Add +0.3% |
| CVE Cenovus Energy Inc. | 0.24% | 5,268,612 | $73.3M | Reduce -0.3% |
| VAC Marriott Vacations World | 0.24% | 1,139,334 | $73.2M | Add +8.1% |
| SLM SLM Corp. | 0.24% | 2,468,256 | $72.5M | Reduce -31.1% |
| DOX Amdocs Ltd. | 0.21% | 698,849 | $63.9M | Reduce -2.5% |
| GS Goldman Sachs Group Inc. | 0.21% | 114,296 | $62.4M | Reduce -53.5% |
| WEX Wex Inc. | 0.20% | 381,767 | $59.9M | Add +79.5% |
| KOS Kosmos Energy Ltd. | 0.19% | 25,527,101 | $58.2M | Add +9.0% |
| ADNT Adient PLC | 0.19% | 4,500,736 | $57.9M | Add +22.4% |
| MSFT Microsoft Corp. | 0.18% | 145,565 | $54.6M | Add +87.6% |
| HII Huntington Ingalls Industrie | 0.17% | 252,639 | $51.5M | Add +73.5% |
| MAN Manpowergroup Inc. | 0.17% | 865,394 | $50.1M | Add +4.2% |
| LEA Lear Corp. | 0.16% | 540,411 | $47.7M | Add +38.3% |
| BCO The Brink's Co. | 0.13% | 467,047 | $40.2M | Add +1.7% |
| AVA Avista Corp. | 0.13% | 960,689 | $40.2M | Reduce -0.3% |
| EFOR Everforth Inc. filed as ASGN INC | 0.13% | 633,217 | $39.9M | Add +17.8% |
| LIVN Livanova PLC | 0.13% | 1,003,000 | $39.4M | Add +100.7% |
| OGE Oge Energy Corp. | 0.13% | 845,326 | $38.9M | Reduce -23.4% |
| ARW Arrow Electronics Inc. | 0.13% | 369,940 | $38.4M | Add +1.7% |
| NTB Bank of N.T. Butterfield&son | 0.13% | 984,370 | $38.3M | Reduce -2.9% |
Options reported separately and not counted above: MTUM puts ($1.3M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $13.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 125,658 | $7.5M | Add +25.5% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | 331,585 | $5.8M | New |
Total filed on the 13F, all lines: $29.9B.
Portfolio Sells Q4 2024 → Q1 2025
| BKR Baker Hughes Co. | Reduce -44.4% | 0.75% | −0.51 |
| HAL Halliburton Co. | Reduce -97.5% | 0.01% | −0.30 |
| HIG Hartford Insurance Group Inc. | Reduce -31.9% | 0.97% | −0.28 |
| GS Goldman Sachs Group Inc. | Reduce -53.5% | 0.21% | −0.26 |
| C Citigroup Inc. | Reduce -8.8% | 3.00% | −0.25 |
| STT State Street Corp. | Reduce -3.7% | 1.52% | −0.20 |
| CVS CVS Health Corp. | Reduce -39.9% | 1.76% | −0.17 |
| BDC Belden Inc. | Reduce -80.0% | 0.04% | −0.16 |
| MDT Medtronic PLC | Reduce -18.3% | 1.87% | −0.16 |
| CMI Cummins Inc. | Reduce -0.4% | 1.39% | −0.16 |
| BNY Bank of New York Mellon Corp. | Reduce -21.5% | 0.94% | −0.15 |
| ERIC Ericsson (lm) Tel-SP ADR | Reduce -1.8% | 2.80% | −0.15 |
| WFC Wells Fargo & Co. | Reduce -7.1% | 2.36% | −0.12 |
| CFG Citizens Financial Group | Reduce -1.2% | 1.19% | −0.09 |
| SLM SLM Corp. | Reduce -31.1% | 0.24% | −0.09 |
| ECVT Ecovyst Inc. | Reduce -3.9% | 0.26% | −0.07 |
| SWK Stanley Black & Decker Inc. | Reduce -13.8% | 0.32% | −0.07 |
| PDCO Patterson Cos Inc. | Sold out | 0.00% | −0.07 |
| APTV Aptiv PLC | Reduce -5.5% | 0.87% | −0.06 |
| SAH Sonic Automotive Inc. Class A | Reduce -25.9% | 0.13% | −0.06 |
| NEXT Nextdecade Corp. | Reduce -50.4% | 0.06% | −0.06 |
| AGCO Agco Corp. | Reduce -68.1% | 0.02% | −0.05 |
| ALK Alaska Air Group Inc. | Sold out | 0.00% | −0.05 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −0.05 |
| PWP Perella Weinberg Partners | Reduce -67.3% | 0.02% | −0.05 |
| STGW Stagwell Inc. | Reduce -4.3% | 0.36% | −0.05 |
| SASR Sandy Spring Bancorp Inc. | Sold out | 0.00% | −0.05 |
| PCAR Paccar Inc. | Reduce -0.3% | 0.70% | −0.05 |
| VIRT Virtu Financial Inc. Class A | Sold out | 0.00% | −0.05 |
| BARNES GROUP INC | Sold out | 0.00% | −0.05 |
| KGS Kodiak Gas Services Inc. | Sold out | 0.00% | −0.05 |
| ALE Allete Inc. | Sold out | 0.00% | −0.04 |
| MGEE Mge Energy Inc. | Sold out | 0.00% | −0.04 |
| FCNCA First Citizens Bcshs Class A | Reduce -1.2% | 0.27% | −0.04 |
| FHB First Hawaiian Inc. | Reduce -8.3% | 0.26% | −0.04 |
| CAG Conagra Brands Inc. | Reduce -3.0% | 0.55% | −0.04 |
| PFC Premier Financial Corp. | Sold out | 0.00% | −0.04 |
| NUS Nu Skin Enterprises Inc. Class A | Sold out | 0.00% | −0.04 |
| ODP The Odp Corp. | Reduce -6.7% | 0.05% | −0.04 |
| CALM Cal-Maine Foods Inc. | Sold out | 0.00% | −0.04 |
| AXS Axis Capital Holdings Ltd. | Sold out | 0.00% | −0.04 |
| PLYA Playa Hotels & Resorts NV | Sold out | 0.00% | −0.03 |
| BAC Bank of America Corp. | Reduce -0.5% | 0.62% | −0.03 |
| HLF Herbalife Ltd. | Reduce -66.0% | 0.03% | −0.03 |
| IBCP Independent Bank Corp. - Mich | Sold out | 0.00% | −0.03 |
| NCMI National Cinemedia Inc. | Reduce -11.2% | 0.12% | −0.03 |
| NVST Envista Holdings Corp. | Reduce -61.0% | 0.02% | −0.03 |
| KHC The Kraft Heinz Co. | Reduce -1.4% | 1.59% | −0.03 |
| CFB Crossfirst Bankshares Inc. | Sold out | 0.00% | −0.03 |
| BA The Boeing Co. | Reduce -1.6% | 0.62% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| AIG American International Group | Add +22.8% | 2.65% | +0.85 |
| SLB SLB Ltd. | Add +211.1% | 0.84% | +0.59 |
| FFIV F5 Inc. | Add +6.2% | 4.79% | +0.54 |
| WDAY Workday Inc. Class A | Add +35.6% | 2.71% | +0.51 |
| CMCSA Comcast Corp. Class A | Add +23.1% | 2.42% | +0.43 |
| PPG PPG Industries Inc. | New | 0.42% | +0.42 |
| ELV Elevance Health Inc. | Add +0.1% | 2.58% | +0.40 |
| HCA HCA Healthcare Inc. | Add +29.8% | 0.92% | +0.31 |
| D Dominion Energy Inc. | Add +7.0% | 1.99% | +0.21 |
| MUR Murphy Oil Corp. | Add +72.9% | 0.46% | +0.18 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +7.3% | 0.57% | +0.14 |
| FIS Fidelity National Info Serv | Add +17.4% | 1.66% | +0.14 |
| NOV Nov Inc. | Add +2.1% | 2.06% | +0.13 |
| COF Capital One Financial Corp. | Add +21.1% | 0.64% | +0.12 |
| OVV Ovintiv Inc. | Add +3.5% | 1.21% | +0.11 |
| GEHC GE Healthcare Technology | Add +3.2% | 1.55% | +0.10 |
| UHAL.B U-Haul Holding Co.-Non Voting | Add +35.5% | 0.45% | +0.09 |
| HII Huntington Ingalls Industrie | Add +73.5% | 0.17% | +0.08 |
| GM General Motors Co. | Add +17.5% | 2.01% | +0.08 |
| WEX Wex Inc. | Add +79.5% | 0.20% | +0.08 |
| MSFT Microsoft Corp. | Add +87.6% | 0.18% | +0.07 |
| NXT Nextpower Inc. | New | 0.07% | +0.07 |
| HUM Humana Inc. | Add +1.6% | 1.09% | +0.06 |
| BUSE First Busey Corp. | Add +648.8% | 0.07% | +0.06 |
| LIVN Livanova PLC | Add +100.7% | 0.13% | +0.05 |
| SON Sonoco Products Co. | New | 0.04% | +0.04 |
| MDU Mdu Resources Group Inc. | New | 0.04% | +0.04 |
| ST Sensata Technologies Holdplc | New | 0.04% | +0.04 |
| GNTX Gentex Corp. | New | 0.04% | +0.04 |
| FLG Flagstar Bank NA | New | 0.04% | +0.04 |
| WOR Worthington Enterprises Inc. | New | 0.04% | +0.04 |
| HTO H2O America | New | 0.04% | +0.04 |
| WSBC Wesbanco Inc. | New | 0.04% | +0.04 |
| BC Brunswick Corp. | New | 0.04% | +0.04 |
| LEA Lear Corp. | Add +38.3% | 0.16% | +0.04 |
| TNC Tennant Co. | New | 0.03% | +0.03 |
| JBSS John B. Sanfilippo & Son Inc. | New | 0.03% | +0.03 |
| AMTB Amerant Bancorp Inc. | New | 0.03% | +0.03 |
| TCBK Trico Bancshares | New | 0.03% | +0.03 |
| OBK Origin Bancorp Inc. | New | 0.03% | +0.03 |
| ATKR Atkore Inc. | New | 0.03% | +0.03 |
| EEFT Euronet Worldwide Inc. | Add +3.1% | 0.38% | +0.03 |
| THO Thor Industries Inc. | New | 0.02% | +0.02 |
| SIGI Selective Insurance Group | New | 0.02% | +0.02 |
| ACHC Acadia Healthcare Co. Inc. | New | 0.02% | +0.02 |
| TFC Truist Financial Corp. | Add +9.3% | 0.60% | +0.02 |
| MU Micron Technology Inc. | Add +1.6% | 0.45% | +0.02 |
| MMI Marcus & Millichap Inc. | New | 0.02% | +0.02 |
| CLB Core Laboratories Inc. | New | 0.02% | +0.02 |
| BLBD Blue Bird Corp. | New | 0.02% | +0.02 |
Options Activity Q4 2024 → Q1 2025
| QQQ Invesco QQQ Trust Series 1 | call | Sold out | 11,500 | $5.9Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 4,600 | $2.7Mbefore exit |
| ASAN Asana Inc. Class A | put | Sold out | 84,000 | $1.7Mbefore exit |
| MTUM iShares MSCI USA Momentum Fa | put | New | 6,500 | $1.3M |
| TSLA Tesla Inc. | call | Sold out | 2,500 | $1.0Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Add +25.5% | 125,658 | $7.5M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | New | 331,585 | $5.8M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 457 | $34.3B | WDAY, APA, AIG, FFIV, GEHC |
| Q1 2026 | 460 | $32.3B | WDAY, APA, FFIV, ERIC, C |
| Q4 2025 | 459 | $33.4B | WDAY, FFIV, C, ERIC, AIG |
| Q3 2025 | 464 | $32.2B | FFIV, WDAY, APA, C, AIG |
| Q2 2025 | 469 | $30.8B | FFIV, WDAY, C, ERIC, CMCSA |
| Q1 2025 | 465 | $29.9B | FFIV, C, ERIC, WDAY, AIG |
| Q4 2024 | 473 | $30.0B | FFIV, C, ERIC, APA, WFC |
| Q3 2024 | 478 | $30.1B | FFIV, C, ERIC, GM, CVS |
| Q2 2024 | 478 | $28.6B | ERIC, FFIV, C, WFC, APA |
| Q1 2024 | 478 | $30.0B | C, WFC, FFIV, APA, ERIC |