Hotchkis & Wiley Capital Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Hotchkis & Wiley Capital Management LLC reported 464 stock positions worth $32.2 billion. Its top holding was F5 (FFIV) at 4.8% of the portfolio, followed by Workday Class A (WDAY, 4.4%) and Apa (APA, 2.7%). Compared with Q2 2025, it opened 51 new positions, sold out of 56, added to 132 and reduced 276. The biggest buy was a new position in Salesforce (CRM) and the biggest sale an exit from Capital One Financial (COF).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001164833
- Portfolio Value
- $32.2B (Q3 2025)
- SEC Filing
- 0001172661-25-005049 ↗ filed Nov 14, 2025
Holdings Value
Holdings 464 stocks · $32.2B
| FFIV F5 Inc. | 4.85% | 4,835,512 | $1.6B | Reduce -7.5% |
| WDAY Workday Inc. Class A | 4.36% | 5,842,491 | $1.4B | Add +47.5% |
| APA Apa Corp. | 2.69% | 35,761,477 | $868.3M | Reduce -0.8% |
| C Citigroup Inc. | 2.54% | 8,052,198 | $817.3M | Reduce -25.8% |
| AIG American International Group | 2.50% | 10,256,290 | $805.5M | Add +22.0% |
| ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS | 2.47% | 96,378,011 | $797.0M | Reduce -0.7% |
| GM General Motors Co. | 2.08% | 10,977,062 | $669.3M | Reduce -14.1% |
| ELV Elevance Health Inc. | 2.05% | 2,045,480 | $660.9M | Add +44.2% |
| CMCSA Comcast Corp. Class A | 2.04% | 20,874,997 | $655.9M | Reduce -0.4% |
| GEHC GE Healthcare Technology | 1.96% | 8,432,374 | $633.3M | Add +17.1% |
| D Dominion Energy Inc. | 1.94% | 10,226,550 | $625.6M | Reduce -12.8% |
| WFC Wells Fargo & Co. | 1.78% | 6,828,303 | $572.3M | Reduce -24.5% |
| USB US Bancorp | 1.74% | 11,598,572 | $560.6M | Add +16.4% |
| MDT Medtronic PLC | 1.72% | 5,821,987 | $554.5M | Reduce -1.9% |
| CMI Cummins Inc. | 1.66% | 1,266,364 | $534.9M | Reduce -17.4% |
| STT State Street Corp. | 1.64% | 4,544,585 | $527.2M | Reduce -8.2% |
| FDX FedEx Corp. | 1.64% | 2,235,689 | $527.2M | Add +5.8% |
| NOV Nov Inc. | 1.63% | 39,746,441 | $526.6M | Reduce -0.4% |
| MGA Magna International Inc. | 1.59% | 10,828,985 | $513.1M | Reduce -13.0% |
| GOOGL Alphabet Inc. Class A | 1.54% | 2,043,219 | $496.7M | Reduce -16.7% |
| UNH Unitedhealth Group Inc. | 1.51% | 1,412,895 | $487.9M | Add +103.5% |
| CRM Salesforce Inc. | 1.50% | 2,045,787 | $484.9M | New |
| SHEL Shell PLC-ADR | 1.41% | 6,369,862 | $455.6M | Reduce -0.7% |
| OMC Omnicom Group | 1.30% | 5,120,191 | $417.4M | Reduce -0.8% |
| PPG PPG Industries Inc. | 1.29% | 3,946,145 | $414.8M | Add +15.7% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.28% | 11,990,652 | $412.1M | Add +11.3% |
| KHC The Kraft Heinz Co. | 1.24% | 15,334,232 | $399.3M | Reduce -0.5% |
| CFG Citizens Financial Group | 1.22% | 7,406,935 | $393.8M | Reduce -13.1% |
| BKR Baker Hughes Co. | 1.11% | 7,367,943 | $359.0M | Reduce -14.8% |
| WBD Warner Bros Discovery Inc. | 1.11% | 18,344,401 | $358.3M | Reduce -6.8% |
| HUM Humana Inc. | 1.10% | 1,362,424 | $354.5M | Reduce -1.9% |
| OVV Ovintiv Inc. | 1.09% | 8,671,734 | $350.2M | Reduce -1.9% |
| HCA HCA Healthcare Inc. | 1.01% | 766,437 | $326.7M | Reduce -2.3% |
| PCAR Paccar Inc. | 1.01% | 3,315,838 | $326.0M | Reduce -1.2% |
| OLN Olin Corp. | 0.98% | 12,690,488 | $317.1M | Add +5.5% |
| APTV Aptiv PLC | 0.97% | 3,622,300 | $312.3M | Reduce -19.6% |
| PPL PPL Corp. | 0.91% | 7,914,114 | $294.1M | Reduce -19.8% |
| CNH CNH Industrial NV | 0.88% | 26,070,783 | $282.9M | Add +17.3% |
| TEL Te Connectivity PLC | 0.85% | 1,251,567 | $274.8M | Reduce -21.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.85% | 5,314,236 | $274.2M | Reduce -5.7% |
| WPP WPP PLC-Sponsored ADR | 0.79% | 10,186,191 | $255.2M | Add +0.5% |
| FISV Fiserv Inc. | 0.79% | 1,966,790 | $253.6M | New |
| SWK Stanley Black & Decker Inc. | 0.72% | 3,103,941 | $230.7M | Add +9.0% |
| NSC Norfolk Southern Corp. | 0.71% | 764,463 | $229.7M | Reduce -6.6% |
| STZ Constellation Brands Inc. Class A | 0.70% | 1,664,151 | $224.1M | Add +26.8% |
| TFC Truist Financial Corp. | 0.68% | 4,817,579 | $220.3M | Reduce -1.5% |
| CRBG Corebridge Financial Inc. | 0.68% | 6,862,767 | $220.0M | Reduce -10.8% |
| CVS CVS Health Corp. | 0.67% | 2,880,247 | $217.1M | Reduce -48.0% |
| FIS Fidelity National Info Serv | 0.66% | 3,227,588 | $212.8M | Reduce -22.1% |
| GSK GSK PLC-Spon ADR | 0.62% | 4,602,201 | $198.6M | Add +1.0% |
| COP Conocophillips | 0.61% | 2,076,989 | $196.5M | Add +0.8% |
| HIG Hartford Insurance Group Inc. | 0.57% | 1,388,662 | $185.2M | Reduce -34.6% |
| GD General Dynamics Corp. | 0.57% | 538,977 | $183.8M | Reduce -2.3% |
| FTV Fortive Corp. | 0.57% | 3,719,200 | $182.2M | Add +205.6% |
| BA The Boeing Co. | 0.56% | 841,197 | $181.6M | Reduce -1.4% |
| CTSH Cognizant Tech Solutions-A | 0.55% | 2,631,890 | $176.5M | Add +144.3% |
| FCNCA First Citizens Bcshs Class A | 0.53% | 95,707 | $171.2M | Reduce -1.7% |
| UL Unilever PLC | 0.52% | 2,846,474 | $168.7M | Reduce -0.1% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.50% | 3,184,488 | $162.1M | Add +30.0% |
| ZBH Zimmer Biomet Holdings Inc. | 0.49% | 1,610,361 | $158.6M | Reduce -1.2% |
| MUR Murphy Oil Corp. | 0.45% | 5,148,009 | $146.3M | Reduce -3.0% |
| FLR Fluor Corp. | 0.45% | 3,474,382 | $146.2M | Reduce -4.6% |
| LAD Lithia Motors Inc. | 0.42% | 426,120 | $134.7M | Add +3.6% |
| CI The Cigna Group | 0.41% | 460,010 | $132.6M | Reduce -24.6% |
| TKR Timken Co. | 0.40% | 1,728,050 | $129.9M | Reduce -7.4% |
| SOLV Solventum Corp. | 0.40% | 1,776,048 | $129.7M | Reduce -1.6% |
| STGW Stagwell Inc. | 0.37% | 21,034,577 | $118.4M | Add +4.6% |
| CNC Centene Corp. | 0.37% | 3,307,963 | $118.0M | Add +24.2% |
| CAG Conagra Brands Inc. | 0.35% | 6,119,230 | $112.0M | Add +2.1% |
| LH Labcorp Holdings Inc. | 0.34% | 376,856 | $108.2M | Reduce -1.9% |
| AVT Avnet Inc. | 0.33% | 2,011,676 | $105.2M | Add +5.3% |
| SLM SLM Corp. | 0.31% | 3,608,526 | $99.9M | Add +55.4% |
| RTX RTX Corp. | 0.31% | 587,671 | $98.3M | Reduce -1.5% |
| BWA Borgwarner Inc. | 0.30% | 2,219,505 | $97.6M | Reduce -19.3% |
| BPOP Popular Inc. | 0.30% | 749,872 | $95.2M | Reduce -24.5% |
| DE Deere & Co. | 0.28% | 199,830 | $91.4M | Reduce -1.5% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.28% | 1,511,840 | $90.1M | Add +22.9% |
| WK Workiva Inc. | 0.27% | 1,025,660 | $88.3M | New |
| EEFT Euronet Worldwide Inc. | 0.27% | 974,860 | $85.6M | Add +5.1% |
| ECVT Ecovyst Inc. | 0.24% | 8,852,152 | $77.5M | Reduce -21.1% |
| SNY Sanofi-ADR | 0.23% | 1,601,307 | $75.6M | Reduce -26.5% |
| FHB First Hawaiian Inc. | 0.23% | 3,038,923 | $75.5M | Reduce -2.3% |
| VAC Marriott Vacations World | 0.21% | 1,035,104 | $68.9M | Reduce -4.3% |
| HII Huntington Ingalls Industrie | 0.21% | 236,318 | $68.0M | Reduce -4.3% |
| ADNT Adient PLC | 0.19% | 2,566,680 | $61.8M | Reduce -21.1% |
| JLL Jones Lang Lasalle Inc. | 0.19% | 201,347 | $60.1M | Reduce -51.7% |
| LEA Lear Corp. | 0.18% | 564,999 | $56.8M | Reduce -8.5% |
| DOX Amdocs Ltd. | 0.18% | 691,306 | $56.7M | Add +0.9% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.17% | 513,220 | $55.7M | New |
| LIVN Livanova PLC | 0.17% | 1,061,166 | $55.6M | Reduce -8.5% |
| WEX Wex Inc. | 0.17% | 346,822 | $54.6M | Reduce -9.9% |
| SF Stifel Financial Corp. | 0.16% | 463,559 | $52.6M | Reduce -2.3% |
| BCO The Brink's Co. | 0.15% | 417,476 | $48.8M | Reduce -6.0% |
| OGE Oge Energy Corp. | 0.14% | 951,449 | $44.0M | Add +9.0% |
| RUSHA Rush Enterprises Inc. Class A | 0.13% | 785,998 | $42.0M | Add +15.5% |
| NTB Bank of N.T. Butterfield&son | 0.13% | 945,370 | $40.6M | Reduce -2.1% |
| AVA Avista Corp. | 0.11% | 922,141 | $34.9M | Add +4.2% |
| KOS Kosmos Energy Ltd. | 0.11% | 20,995,501 | $34.9M | Reduce -1.0% |
| EFOR Everforth Inc. filed as ASGN INC | 0.10% | 714,863 | $33.8M | Add +5.6% |
| MAN Manpowergroup Inc. | 0.09% | 788,330 | $29.9M | Reduce -13.3% |
Options reported separately and not counted above: QQQ puts ($58.8M), UPS puts ($47.2M), DLR puts ($7.8M), MTUM puts ($1.7M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $19.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 176,322 | $12.3M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | 376,917 | $7.6M | Add +3.7% |
Total filed on the 13F, all lines: $32.2B.
Portfolio Sells Q2 2025 → Q3 2025
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.73 |
| WFC Wells Fargo & Co. | Reduce -24.5% | 1.78% | −0.57 |
| CVS CVS Health Corp. | Reduce -48.0% | 0.67% | −0.57 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.48 |
| C Citigroup Inc. | Reduce -25.8% | 2.54% | −0.46 |
| FIS Fidelity National Info Serv | Reduce -22.1% | 0.66% | −0.43 |
| CMCSA Comcast Corp. Class A | Reduce -0.4% | 2.04% | −0.39 |
| MSFT Microsoft Corp. | Reduce -80.8% | 0.08% | −0.36 |
| GS Goldman Sachs Group Inc. | Reduce -88.0% | 0.04% | −0.30 |
| HIG Hartford Insurance Group Inc. | Reduce -34.6% | 0.57% | −0.30 |
| CI The Cigna Group | Reduce -24.6% | 0.41% | −0.24 |
| D Dominion Energy Inc. | Reduce -12.8% | 1.94% | −0.21 |
| CRBG Corebridge Financial Inc. | Reduce -10.8% | 0.68% | −0.20 |
| ERIC Ericsson (lm) Tel-SP ADR | Reduce -0.7% | 2.47% | −0.20 |
| PPL PPL Corp. | Reduce -19.8% | 0.91% | −0.17 |
| JLL Jones Lang Lasalle Inc. | Reduce -51.7% | 0.19% | −0.16 |
| FLR Fluor Corp. | Reduce -4.6% | 0.45% | −0.15 |
| FFIV F5 Inc. | Reduce -7.5% | 4.85% | −0.15 |
| GLW Corning Inc. | Sold out | 0.00% | −0.11 |
| SNY Sanofi-ADR | Reduce -26.5% | 0.23% | −0.11 |
| GIS General Mills Inc. | Sold out | 0.00% | −0.09 |
| FCNCA First Citizens Bcshs Class A | Reduce -1.7% | 0.53% | −0.09 |
| STT State Street Corp. | Reduce -8.2% | 1.64% | −0.07 |
| SAH Sonic Automotive Inc. Class A | Reduce -42.2% | 0.08% | −0.07 |
| RAL Ralliant Corp. | Sold out | 0.00% | −0.06 |
| BPOP Popular Inc. | Reduce -24.5% | 0.30% | −0.06 |
| ECVT Ecovyst Inc. | Reduce -21.1% | 0.24% | −0.06 |
| ODP The Odp Corp. | Reduce -90.7% | 0.01% | −0.05 |
| KHC The Kraft Heinz Co. | Reduce -0.5% | 1.24% | −0.05 |
| SHEL Shell PLC-ADR | Reduce -0.7% | 1.41% | −0.05 |
| DE Deere & Co. | Reduce -1.5% | 0.28% | −0.05 |
| HMN Horace Mann Educators | Reduce -42.8% | 0.07% | −0.05 |
| SSTK Shutterstock Inc. | Sold out | 0.00% | −0.04 |
| WSBC Wesbanco Inc. | Sold out | 0.00% | −0.04 |
| UL Unilever PLC | Reduce -0.1% | 0.52% | −0.04 |
| SOLV Solventum Corp. | Reduce -1.6% | 0.40% | −0.04 |
| PPBI Pacific Premier Bancorp Inc. | Sold out | 0.00% | −0.04 |
| TXNM TXNM Energy Inc. | Sold out | 0.00% | −0.04 |
| BROOKLINE BANCORP INC | Sold out | 0.00% | −0.04 |
| VAC Marriott Vacations World | Reduce -4.3% | 0.21% | −0.04 |
| SWX Southwest Gas Holdings Inc. | Sold out | 0.00% | −0.04 |
| NXT Nextpower Inc. | Reduce -83.5% | 0.01% | −0.04 |
| WOR Worthington Enterprises Inc. | Sold out | 0.00% | −0.04 |
| IPGP Ipg Photonics Corp. | Sold out | 0.00% | −0.04 |
| TKR Timken Co. | Reduce -7.4% | 0.40% | −0.04 |
| FOXF Fox Factory Holding Corp. | Sold out | 0.00% | −0.03 |
| LNN Lindsay Corp. | Sold out | 0.00% | −0.03 |
| KLG WK Kellogg Co. | Sold out | 0.00% | −0.03 |
| WU Western Union Co. | Sold out | 0.00% | −0.03 |
| WCC Wesco International Inc. | Reduce -75.9% | 0.01% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| CRM Salesforce Inc. | New | 1.50% | +1.50 |
| WDAY Workday Inc. Class A | Add +47.5% | 4.36% | +1.28 |
| UNH Unitedhealth Group Inc. | Add +103.5% | 1.51% | +0.81 |
| FISV Fiserv Inc. | New | 0.79% | +0.79 |
| FTV Fortive Corp. | Add +205.6% | 0.57% | +0.36 |
| USB US Bancorp | Add +16.4% | 1.74% | +0.28 |
| CTSH Cognizant Tech Solutions-A | Add +144.3% | 0.55% | +0.27 |
| WK Workiva Inc. | New | 0.27% | +0.27 |
| ELV Elevance Health Inc. | Add +44.2% | 2.05% | +0.26 |
| GEHC GE Healthcare Technology | Add +17.1% | 1.96% | +0.23 |
| OLN Olin Corp. | Add +5.5% | 0.98% | +0.20 |
| SJM The JM Smucker Co. | New | 0.17% | +0.17 |
| AIG American International Group | Add +22.0% | 2.50% | +0.16 |
| SLB SLB Ltd. | Add +11.3% | 1.28% | +0.10 |
| SWK Stanley Black & Decker Inc. | Add +9.0% | 0.72% | +0.09 |
| FDX FedEx Corp. | Add +5.8% | 1.64% | +0.08 |
| STGW Stagwell Inc. | Add +4.6% | 0.37% | +0.07 |
| UHAL.B U-Haul Holding Co.-Non Voting | Add +30.0% | 0.50% | +0.07 |
| SLM SLM Corp. | Add +55.4% | 0.31% | +0.06 |
| GSK GSK PLC-Spon ADR | Add +1.0% | 0.62% | +0.05 |
| JAZZ Jazz Pharmaceuticals PLC | Add +364.1% | 0.06% | +0.05 |
| REYN Reynolds Consumer Products I | New | 0.04% | +0.04 |
| NJR New Jersey Resources Corp. | New | 0.04% | +0.04 |
| KALU Kaiser Aluminum Corp. | New | 0.04% | +0.04 |
| FLS Flowserve Corp. | New | 0.04% | +0.04 |
| FUL H.B. Fuller Co. | New | 0.04% | +0.04 |
| FBIN Fortune Brands Innovations I | New | 0.04% | +0.04 |
| SM SM Energy Co. | New | 0.04% | +0.04 |
| RHI Robert Half Inc. | New | 0.04% | +0.04 |
| AXTA Axalta Coating Systems Ltd. | New | 0.04% | +0.04 |
| BBT Beacon Financial Corp. | Add +142.1% | 0.07% | +0.04 |
| LNTH Lantheus Holdings Inc. | New | 0.04% | +0.04 |
| DEI Douglas Emmett Inc. | New | 0.04% | +0.04 |
| WFRD Weatherford International PL | Add +146.3% | 0.05% | +0.04 |
| AHL Aspen Insurance Holdings Class A | New | 0.03% | +0.03 |
| ACIW Aci Worldwide Inc. | New | 0.03% | +0.03 |
| HALO Halozyme Therapeutics Inc. | New | 0.03% | +0.03 |
| QCRH QCR Holdings Inc. | New | 0.03% | +0.03 |
| WGO Winnebago Industries | New | 0.03% | +0.03 |
| VOYA Voya Financial Inc. | New | 0.03% | +0.03 |
| CRC California Resources Corp. | Add +61.2% | 0.07% | +0.03 |
| NBN Northeast Bank | Add +237.8% | 0.04% | +0.03 |
| PPG PPG Industries Inc. | Add +15.7% | 1.29% | +0.03 |
| UFPI Ufp Industries Inc. | New | 0.03% | +0.03 |
| COLB Columbia Banking System Inc. | Add +79.4% | 0.06% | +0.03 |
| FRME First Merchants Corp. | Add +252.0% | 0.04% | +0.03 |
| XRN Chiron Real Estate Inc. | New | 0.02% | +0.02 |
| IVZ Invesco Ltd. | New | 0.02% | +0.02 |
| BRY Berry Corp. | Add +73.7% | 0.04% | +0.02 |
| OGS One Gas Inc. | New | 0.02% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | New | 98,000 | $58.8M |
| UPS United Parcel Service Class B | put | New | 565,000 | $47.2M |
| DLR Digital Realty Trust Inc. | put | New | 45,000 | $7.8M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | Add +3.7% | 376,917 | $7.6M |
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 |