Hotchkis & Wiley Capital Management LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Hotchkis & Wiley Capital Management LLC reported 460 stock positions worth $32.3 billion. Its top holding was Workday Class A (WDAY) at 4.3% of the portfolio, followed by Apa (APA, 4.2%) and F5 (FFIV, 4.1%). Compared with Q4 2025, it opened 65 new positions, sold out of 64, added to 135 and reduced 256. The biggest buy was a new position in CDW (CDW) and the biggest sale Citizens Financial (CFG, shares −65%).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001164833
- Portfolio Value
- $32.3B (Q1 2026)
- SEC Filing
- 0001172661-26-002350 ↗ filed May 15, 2026
Holdings Value
Holdings 460 stocks · $32.3B
| WDAY Workday Inc. Class A | 4.28% | 10,655,733 | $1.4B | Add +57.7% |
| APA Apa Corp. | 4.20% | 32,015,114 | $1.4B | Reduce -9.7% |
| FFIV F5 Inc. | 4.10% | 4,579,301 | $1.3B | Reduce -16.3% |
| ERIC Ericsson (lm) Tel-SP ADR filed as TELEFONAKTIEBOLAGET LM ERICS | 2.87% | 82,262,127 | $927.1M | Reduce -10.7% |
| C Citigroup Inc. | 2.46% | 7,025,948 | $796.8M | Reduce -8.1% |
| AIG American International Group | 2.38% | 10,230,595 | $769.9M | Reduce -0.4% |
| CMCSA Comcast Corp. Class A | 2.38% | 26,799,751 | $769.4M | Reduce -3.5% |
| GEHC GE Healthcare Technology | 2.19% | 9,967,873 | $709.5M | Add +10.3% |
| D Dominion Energy Inc. | 2.17% | 11,349,393 | $701.6M | Reduce -3.0% |
| CRM Salesforce Inc. | 2.13% | 3,694,062 | $689.6M | Add +31.7% |
| PPG PPG Industries Inc. | 2.04% | 6,159,946 | $658.4M | Add +4.8% |
| ELV Elevance Health Inc. | 1.98% | 2,191,563 | $641.6M | Add +6.8% |
| GM General Motors Co. | 1.95% | 8,443,550 | $629.0M | Reduce -18.8% |
| USB US Bancorp | 1.82% | 11,296,262 | $587.5M | Reduce -3.1% |
| SHEL Shell PLC-ADR | 1.77% | 6,146,649 | $571.6M | Reduce -2.7% |
| FDX FedEx Corp. | 1.75% | 1,588,457 | $565.8M | Reduce -28.9% |
| MGA Magna International Inc. | 1.70% | 9,844,971 | $549.4M | Reduce -0.1% |
| STT State Street Corp. | 1.66% | 4,236,091 | $536.1M | Reduce -3.4% |
| OVV Ovintiv Inc. | 1.56% | 8,501,093 | $504.6M | Reduce -3.1% |
| WFC Wells Fargo & Co. | 1.56% | 6,316,442 | $502.9M | Reduce -3.4% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.54% | 9,706,372 | $498.8M | Reduce -17.4% |
| CNH CNH Industrial NV | 1.48% | 43,625,356 | $479.9M | Add +23.9% |
| UNH Unitedhealth Group Inc. | 1.48% | 1,769,068 | $478.7M | Add +21.1% |
| OLN Olin Corp. | 1.39% | 15,084,224 | $448.5M | Reduce -1.3% |
| MDT Medtronic PLC | 1.28% | 4,791,090 | $415.1M | Reduce -0.6% |
| PCAR Paccar Inc. | 1.25% | 3,510,993 | $405.5M | Reduce -12.7% |
| OMC Omnicom Group | 1.25% | 5,376,034 | $404.9M | Reduce -2.6% |
| TFC Truist Financial Corp. | 1.07% | 7,537,029 | $346.5M | Add +10.1% |
| KHC The Kraft Heinz Co. | 1.06% | 15,268,339 | $343.4M | Reduce -3.4% |
| CMI Cummins Inc. | 1.04% | 626,070 | $336.8M | Reduce -29.9% |
| FISV Fiserv Inc. | 1.01% | 5,835,003 | $325.6M | Add +170.3% |
| MDLZ Mondelez International Inc. Class A | 1.00% | 5,618,340 | $323.8M | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 0.97% | 1,089,297 | $313.2M | Reduce -23.3% |
| NOV Nov Inc. | 0.87% | 14,919,613 | $280.6M | Reduce -54.0% |
| HUM Humana Inc. | 0.86% | 1,609,024 | $279.0M | Add +18.0% |
| STZ Constellation Brands Inc. Class A | 0.82% | 1,764,431 | $264.7M | Reduce -1.3% |
| ZBH Zimmer Biomet Holdings Inc. | 0.78% | 2,792,389 | $252.5M | Add +61.9% |
| FCNCA First Citizens Bcshs Class A | 0.77% | 132,830 | $250.3M | Add +38.1% |
| CDW CDW Corp. | 0.76% | 2,027,480 | $245.4M | New |
| APTV Aptiv PLC | 0.73% | 3,421,031 | $237.6M | Reduce -5.5% |
| WPP WPP PLC-Sponsored ADR | 0.72% | 15,001,708 | $233.3M | Add +48.6% |
| SWK Stanley Black & Decker Inc. | 0.71% | 3,220,670 | $228.9M | Reduce -0.2% |
| COP Conocophillips | 0.70% | 1,704,717 | $225.0M | Reduce -25.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.68% | 4,541,316 | $221.4M | Reduce -0.1% |
| CRBG Corebridge Financial Inc. | 0.67% | 9,080,180 | $216.7M | Add +1.4% |
| NSC Norfolk Southern Corp. | 0.66% | 741,668 | $212.9M | Reduce -3.8% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 0.65% | 2,190,076 | $211.2M | Add +6.4% |
| FTV Fortive Corp. | 0.62% | 3,645,964 | $201.5M | Reduce -0.7% |
| CVS CVS Health Corp. | 0.62% | 2,794,787 | $200.7M | Reduce -3.4% |
| LH Labcorp Holdings Inc. | 0.61% | 743,602 | $198.4M | Add +101.5% |
| PPL PPL Corp. | 0.60% | 5,076,960 | $193.9M | Reduce -27.3% |
| GSK GSK PLC-Spon ADR | 0.59% | 3,482,054 | $192.2M | Reduce -4.8% |
| FLR Fluor Corp. | 0.58% | 4,021,505 | $187.6M | Add +12.1% |
| GPC Genuine Parts Co. | 0.57% | 1,746,990 | $184.7M | New |
| HIG Hartford Insurance Group Inc. | 0.57% | 1,355,035 | $183.2M | Reduce -3.2% |
| BA The Boeing Co. | 0.54% | 878,687 | $174.9M | Reduce -0.8% |
| TEL Te Connectivity PLC | 0.52% | 799,797 | $167.2M | Reduce -3.2% |
| CTSH Cognizant Tech Solutions-A | 0.49% | 2,582,274 | $158.4M | Reduce -0.1% |
| TKR Timken Co. | 0.49% | 1,565,862 | $157.5M | Reduce -15.1% |
| FIS Fidelity National Info Serv | 0.47% | 3,217,587 | $150.9M | Reduce -1.7% |
| UL Unilever PLC-Sponsored ADR | 0.46% | 2,617,390 | $149.1M | Reduce -3.9% |
| DE Deere & Co. | 0.46% | 262,210 | $147.7M | Reduce -13.9% |
| STGW Stagwell Inc. | 0.45% | 23,058,057 | $145.0M | Add +4.5% |
| GD General Dynamics Corp. | 0.44% | 415,682 | $142.7M | Reduce -0.5% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.44% | 3,171,129 | $141.7M | Reduce -1.7% |
| SLM SLM Corp. | 0.43% | 6,486,188 | $138.9M | Add +48.3% |
| CFG Citizens Financial Group | 0.43% | 2,306,798 | $138.3M | Reduce -65.4% |
| CI The Cigna Group | 0.41% | 497,105 | $132.6M | Reduce -3.7% |
| LAD Lithia Motors Inc. | 0.39% | 503,230 | $125.7M | Reduce -7.9% |
| BWA Borgwarner Inc. | 0.35% | 2,103,232 | $114.1M | Reduce -4.5% |
| MUR Murphy Oil Corp. | 0.35% | 2,722,979 | $112.3M | Reduce -44.9% |
| WK Workiva Inc. | 0.31% | 1,679,788 | $100.2M | Add +43.5% |
| AVT Avnet Inc. | 0.29% | 1,541,616 | $95.0M | Reduce -21.9% |
| CRC California Resources Corp. | 0.27% | 1,260,493 | $87.3M | Add +35.2% |
| CNC Centene Corp. | 0.27% | 2,658,633 | $87.0M | Reduce -16.7% |
| DOX Amdocs Ltd. | 0.23% | 1,161,166 | $75.8M | Add +32.3% |
| CAG Conagra Brands Inc. | 0.23% | 4,804,197 | $75.5M | Reduce -31.1% |
| EEFT Euronet Worldwide Inc. | 0.23% | 1,118,669 | $74.2M | Add +9.6% |
| ECVT Ecovyst Inc. | 0.22% | 5,413,862 | $69.6M | Reduce -43.4% |
| FHB First Hawaiian Inc. | 0.21% | 2,797,272 | $68.9M | Reduce -2.8% |
| VAC Marriott Vacations World | 0.20% | 992,884 | $64.7M | Reduce -14.5% |
| BPOP Popular Inc. | 0.19% | 465,340 | $62.4M | Reduce -21.4% |
| RUSHA Rush Enterprises Inc. Class A | 0.18% | 873,911 | $57.8M | Add +5.8% |
| ARE Alexandria Real Estate Equit | 0.18% | 1,221,640 | $56.7M | New |
| KOS Kosmos Energy Ltd. | 0.17% | 20,051,601 | $55.7M | Reduce -0.3% |
| OGE Oge Energy Corp. | 0.16% | 1,092,186 | $52.4M | Add +26.3% |
| ADNT Adient PLC | 0.14% | 2,312,700 | $46.7M | Reduce -9.1% |
| BCO The Brink's Co. | 0.14% | 448,923 | $46.5M | Add +20.8% |
| SOLV Solventum Corp. | 0.14% | 693,060 | $45.3M | Reduce -57.5% |
| SAP Sap SE-Sponsored ADR | 0.14% | 256,495 | $43.9M | New |
| UHS Universal Health Services-B | 0.13% | 237,218 | $42.5M | Add +660.2% |
| SF Stifel Financial Corp. | 0.13% | 571,756 | $42.3M | Reduce -8.0% |
| NTB Bank of N.T. Butterfield&son | 0.13% | 804,730 | $42.2M | Reduce -10.5% |
| HII Huntington Ingalls Industrie | 0.12% | 105,570 | $40.1M | Reduce -45.2% |
| JLL Jones Lang Lasalle Inc. | 0.12% | 128,617 | $39.1M | Add +42.1% |
| WEX Wex Inc. | 0.11% | 236,598 | $36.2M | Reduce -38.0% |
| LIVN Livanova PLC | 0.11% | 556,554 | $35.4M | Reduce -46.5% |
| LEA Lear Corp. | 0.11% | 289,939 | $35.1M | Reduce -46.4% |
| CRGY Crescent Energy Inc. Class A | 0.11% | 2,565,285 | $34.6M | Reduce -34.1% |
| RHI Robert Half Inc. | 0.11% | 1,341,963 | $34.1M | Add +150.0% |
Options reported separately and not counted above: UPS puts ($55.6M), DLR puts ($8.1M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $22.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 171,322 | $11.1M | Reduce -2.8% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | 377,137 | $7.3M | No change |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | 105,000 | $4.3M | New |
Total filed on the 13F, all lines: $32.4B.
Portfolio Sells Q4 2025 → Q1 2026
| CFG Citizens Financial Group | Reduce -65.4% | 0.43% | −0.74 |
| NOV Nov Inc. | Reduce -54.0% | 0.87% | −0.65 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.62 |
| GM General Motors Co. | Reduce -18.8% | 1.95% | −0.59 |
| BKR Baker Hughes Co. | Reduce -99.7% | 0.00% | −0.58 |
| GOOGL Alphabet Inc. Class A | Reduce -23.3% | 0.97% | −0.36 |
| CMI Cummins Inc. | Reduce -29.9% | 1.04% | −0.32 |
| BUD Anheuser-Busch Inbev-SPN ADR | Sold out | 0.00% | −0.29 |
| RTX RTX Corp. | Sold out | 0.00% | −0.29 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.28 |
| WFC Wells Fargo & Co. | Reduce -3.4% | 1.56% | −0.27 |
| AIG American International Group | Reduce -0.4% | 2.38% | −0.25 |
| SOLV Solventum Corp. | Reduce -57.5% | 0.14% | −0.25 |
| C Citigroup Inc. | Reduce -8.1% | 2.46% | −0.21 |
| FIS Fidelity National Info Serv | Reduce -1.7% | 0.47% | −0.19 |
| FDX FedEx Corp. | Reduce -28.9% | 1.75% | −0.18 |
| LAD Lithia Motors Inc. | Reduce -7.9% | 0.39% | −0.16 |
| CTSH Cognizant Tech Solutions-A | Reduce -0.1% | 0.49% | −0.15 |
| PPL PPL Corp. | Reduce -27.3% | 0.60% | −0.13 |
| CAG Conagra Brands Inc. | Reduce -31.1% | 0.23% | −0.13 |
| CNC Centene Corp. | Reduce -16.7% | 0.27% | −0.12 |
| MUR Murphy Oil Corp. | Reduce -44.9% | 0.35% | −0.12 |
| CMCSA Comcast Corp. Class A | Reduce -3.5% | 2.38% | −0.11 |
| MDT Medtronic PLC | Reduce -0.6% | 1.28% | −0.10 |
| APTV Aptiv PLC | Reduce -5.5% | 0.73% | −0.09 |
| FFIV F5 Inc. | Reduce -16.3% | 4.10% | −0.09 |
| KHC The Kraft Heinz Co. | Reduce -3.4% | 1.06% | −0.09 |
| OMC Omnicom Group | Reduce -2.6% | 1.25% | −0.08 |
| LIVN Livanova PLC | Reduce -46.5% | 0.11% | −0.08 |
| LEA Lear Corp. | Reduce -46.4% | 0.11% | −0.08 |
| UL Unilever PLC-Sponsored ADR | Reduce -3.9% | 0.46% | −0.07 |
| HII Huntington Ingalls Industrie | Reduce -45.2% | 0.12% | −0.07 |
| MDU Mdu Resources Group Inc. | Sold out | 0.00% | −0.07 |
| CVS CVS Health Corp. | Reduce -3.4% | 0.62% | −0.07 |
| PCAR Paccar Inc. | Reduce -12.7% | 1.25% | −0.07 |
| BAC Bank of America Corp. | Reduce -0.1% | 0.68% | −0.06 |
| ECVT Ecovyst Inc. | Reduce -43.4% | 0.22% | −0.06 |
| WEX Wex Inc. | Reduce -38.0% | 0.11% | −0.06 |
| FLS Flowserve Corp. | Sold out | 0.00% | −0.05 |
| USB US Bancorp | Reduce -3.1% | 1.82% | −0.05 |
| TEL Te Connectivity PLC | Reduce -3.2% | 0.52% | −0.05 |
| JAZZ Jazz Pharmaceuticals PLC | Reduce -78.3% | 0.02% | −0.05 |
| ADEA Adeia Inc. | Sold out | 0.00% | −0.04 |
| COLB Columbia Banking System Inc. | Sold out | 0.00% | −0.04 |
| CWK Cushman & Wakefield Ltd. | Sold out | 0.00% | −0.04 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.04 |
| THR Thermon Group Holdings Inc. | Reduce -84.9% | 0.01% | −0.04 |
| HI Hillenbrand Inc. | Sold out | 0.00% | −0.04 |
| STT State Street Corp. | Reduce -3.4% | 1.66% | −0.04 |
| BA The Boeing Co. | Reduce -0.8% | 0.54% | −0.04 |
Portfolio Buys Q4 2025 → Q1 2026
| CDW CDW Corp. | New | 0.76% | +0.76 |
| FISV Fiserv Inc. | Add +170.3% | 1.01% | +0.57 |
| GPC Genuine Parts Co. | New | 0.57% | +0.57 |
| CNH CNH Industrial NV | Add +23.9% | 1.48% | +0.51 |
| LH Labcorp Holdings Inc. | Add +101.5% | 0.61% | +0.34 |
| ZBH Zimmer Biomet Holdings Inc. | Add +61.9% | 0.78% | +0.32 |
| PPG PPG Industries Inc. | Add +4.8% | 2.04% | +0.23 |
| ARE Alexandria Real Estate Equit | New | 0.18% | +0.18 |
| FCNCA First Citizens Bcshs Class A | Add +38.1% | 0.77% | +0.16 |
| FLR Fluor Corp. | Add +12.1% | 0.58% | +0.15 |
| CRC California Resources Corp. | Add +35.2% | 0.27% | +0.14 |
| SAP Sap SE-Sponsored ADR | New | 0.14% | +0.14 |
| STGW Stagwell Inc. | Add +4.5% | 0.45% | +0.13 |
| UHS Universal Health Services-B | Add +660.2% | 0.13% | +0.11 |
| MDLZ Mondelez International Inc. Class A | Add +1.6% | 1.00% | +0.11 |
| SLM SLM Corp. | Add +48.3% | 0.43% | +0.07 |
| TFC Truist Financial Corp. | Add +10.1% | 1.07% | +0.06 |
| RHI Robert Half Inc. | Add +150.0% | 0.11% | +0.06 |
| OGE Oge Energy Corp. | Add +26.3% | 0.16% | +0.05 |
| SJM The JM Smucker Co. | Add +6.4% | 0.65% | +0.05 |
| ZION Zions Bancorp NA | Add +180.2% | 0.08% | +0.05 |
| LSTR Landstar System Inc. | New | 0.05% | +0.05 |
| RUSHA Rush Enterprises Inc. Class A | Add +5.8% | 0.18% | +0.05 |
| VGLT Vanguard Long-Term Treasury | New | 0.05% | +0.05 |
| WPP WPP PLC-Sponsored ADR | Add +48.6% | 0.72% | +0.04 |
| PAYC Paycom Software Inc. | New | 0.04% | +0.04 |
| G Genpact Ltd. | New | 0.04% | +0.04 |
| AN Autonation Inc. | New | 0.04% | +0.04 |
| VNT Vontier Corp. | Add +155.1% | 0.07% | +0.04 |
| MOH Molina Healthcare Inc. | New | 0.04% | +0.04 |
| NPB Northpointe Bancshares Inc. | New | 0.04% | +0.04 |
| MTN Vail Resorts Inc. | New | 0.04% | +0.04 |
| UPBD Upbound Group Inc. | Add +1089.8% | 0.04% | +0.04 |
| SRPT Sarepta Therapeutics Inc. | New | 0.04% | +0.04 |
| IPAR Interparfums Inc. | New | 0.04% | +0.04 |
| BRBR Bellring Brands Inc. | New | 0.04% | +0.04 |
| LW Lamb Weston Holdings Inc. | New | 0.04% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +21.1% | 1.48% | +0.04 |
| KNTK Kinetik Holdings Inc. | New | 0.04% | +0.04 |
| WEN The Wendy's Co. | New | 0.04% | +0.04 |
| CROX Crocs Inc. | New | 0.03% | +0.03 |
| CNMD Conmed Corp. | New | 0.03% | +0.03 |
| SMPL The Simply Good Foods Co. | New | 0.03% | +0.03 |
| RRC Range Resources Corp. | New | 0.03% | +0.03 |
| KTB Kontoor Brands Inc. | New | 0.03% | +0.03 |
| VNO Vornado Realty Trust | New | 0.03% | +0.03 |
| HRB H&R Block Inc. | New | 0.03% | +0.03 |
| CHDN Churchill Downs Inc. | New | 0.03% | +0.03 |
| CVGW Calavo Growers Inc. | New | 0.03% | +0.03 |
| PEBO Peoples Bancorp Inc. | New | 0.03% | +0.03 |
Options Activity Q4 2025 → Q1 2026
| MTUM iShares MSCI USA Momentum Fa | put | Sold out | 6,500 | $1.6Mbefore 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 2025 → Q1 2026
| VGLT Vanguard Long-Term Treasury | LONG TERM TREAS · principal | Sold out | 264,300 | $14.7Mbefore exit |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -2.8% | 171,322 | $11.1M |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | New | 105,000 | $4.3M |
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 |