HOTCHKIS & WILEY

Hotchkis & Wiley Capital Management LLC

Last Update: 2013-05-15

Number of Stocks: 172
Number of New Stocks: 15

Total Value: $19,566 Mil
Q/Q Turnover: 13%

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Details: Top Buys | Top Sales | Top Holdings Embed:

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HOTCHKIS & WILEY's Profile & Performance

Profile

Incepted in Los Angeles in 1980, Hotchkis and Wiley has focused exclusively on finding and owning undervalued companies that have a significant potential for appreciation.

Web Page:http://www.hwcm.com/

Investing Philosophy

Hotchkis and Wiley are value investors focusing on important investment parameters such as a company's tangible assets, sustainable cash flow, and potential for improving business performance.

Total Holding History

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Performance of Large Cap Value Fund

Year	Return (%)	S&P500 (%)	Excess Gain (%)
2012	18.74	15.4	3.3
2011	-4.25	2.08	-6.3
2010	19.85	15.06	4.8
3-Year Cumulative	36.3 (10.9%/year)	35.5 (10.7%/year)	0.8 (0.2%/year)
2009	34.32	26.46	7.9
2008	-46.84	-37	-9.8
5-Year Cumulative	-2.7 (-0.5%/year)	8 (1.5%/year)	-10.7 (-2%/year)
2007	-10.55	5.61	-16.2
2006	13.7	15.79	-2.1
2005	6.41	4.91	1.5
2004	22.01	12	10.0
2003	42.77	28.7	14.1
10-Year Cumulative	83.4 (6.3%/year)	99.7 (7.2%/year)	-16.3 (-0.9%/year)
2002	-7.51	-22.1	14.6
2001	7.95	-11.9	19.8
2000	9.17	-9.1	18.3
1999	-2.34	21	-23.3
1998	4.32	28.6	-24.3
15-Year Cumulative	103.7 (4.9%/year)	93.8 (4.5%/year)	9.9 (0.4%/year)
1997	31.15	33.4	-2.3
1996	17.38	23	-5.6
1995	34.42	37.6	-3.2
1994	-3.5	1.3	-4.8
1993	15.76	10.1	5.7
20-Year Cumulative	370.8 (8.1%/year)	388.1 (8.2%/year)	-17.3 (-0.1%/year)
1992	13.96	7.6	6.4
1991	34.63	30.5	4.1
1990	-18.06	-3.1	-15.0
1989	23.67	31.7	-8.0
1988	21.15	16.6	4.5
25-Year Cumulative	786.9 (9.1%/year)	919.9 (9.7%/year)	-133 (-0.6%/year)

Commentaries and Stories

Currently 5.00/5

Rating: 5.0/5 (1 vote)

Hotchkis & Wiley Q1 Newsletter - The Interest Rate Environment: Comparing High Yield Bonds and Bank Loans

April 16, 2013

Introduction: It has been over four years since the Federal Open Market Committee ("FOMC") voted to lower the overnight rate at which banks lend to each other ("fed funds rate") to a range of 0.00% - 0.25%. The FOMC has maintained this target ever since and Treasury rates of all maturities have persisted near record lows as a consequence. The prevailing environment has prompted many investors, Hotchkis & Wiley included, to question how long it will be before interest rates rise once again. More...

Currently 2.50/5

Rating: 2.5/5 (6 votes)

The Interest Rate Environment: Comparing High Yield Bonds and Bank Loans - Hotchkis & Wiley Q1 Newsletter

March 20, 2013

Introduction: It has been over four years since the Federal Open Market Committee (“FOMC”) voted to lower the overnight rate at which banks lend to each other (“fed funds rate”) to a range of 0.00% - 0.25%. The FOMC has maintained this target ever since and Treasury rates of all maturities have persisted near record lows as a consequence. The prevailing environment has prompted many investors, Hotchkis & Wiley included, to question how long it will be before interest rates rise once again. More...

Currently 4.00/5

Rating: 4.0/5 (3 votes)

Weekly CEO Buys Highlight: UTHR, DNR, RICK, PERF

January 7, 2013

According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: More...

Currently 3.43/5

Rating: 3.4/5 (7 votes)

Hotchkis & Wiley Large Cap Diversified Value Fund Q3 Commentary

October 24, 2012

MARKET COMMENTARY: Despite macroeconomic and geopolitical uncertainties, U.S. equities climbed in the third quarter with the S&P 500 Index returning +6.4% and the Russell 1000 Value Index returning +6.5%. Investors appeared to take notice of Corporate America's improving health. Of the S&P 500 constituents reporting earnings during the quarter, more than 70% beat Wall Street estimates and one out of four beat estimates by more than ten percent. Strong cash flows, which had been predominantly retained in an effort to improve balance sheets, are now being returned to shareholders with increased regularity via dividends and share repurchases. More...

Currently 3.67/5

Rating: 3.7/5 (6 votes)

Hotchkis & Wiley - The Advantages of Limiting Assets

September 12, 2012

Introduction As our lives become longer, it seems, our memories become shorter. Behavioral psychologists have studied this paradox ad nauseam in an attempt to explain why people make the same mistakes over and over again. We are all guilty of such behavior. Have you ever said to yourself, “I sure am glad I stayed up late again last night to watch that rerun I’ve already seen five times”? How about, “Boy, I always feel so much better when I go for that third donut”? Neither have we, but that doesn’t mean we won’t repeat these behaviors at some point in the future. The reason defective behaviors are repeated with such regularity is debatable—shortsightedness, delusion, greed—but we’ll leave that for the psychologists to sort out. Instead, we simply acknowledge that most of us are predisposed to making repeated mistakes despite our better judgment. More...

Currently 2.50/5

Rating: 2.5/5 (4 votes)

Guru Stocks at 52-Week Low: VALE, MCD, FB, EXC, CHT

August 19, 2012

According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

Currently 4.67/5

Rating: 4.7/5 (3 votes)

Weekly CEO Buys Highlight: SYMC, TDY, PNK, FNFG, OCR

August 4, 2012

According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: More...

Currently 3.25/5

Rating: 3.3/5 (4 votes)

Weekly CEO Buys Highlight: UTHR, PMC, ABR, AIR, SCHS

June 23, 2012

According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: Utd Therapeutic (UTHR): CEO Martine A Rothblatt Bought 20,858 Shares More...

Currently 3.60/5

Rating: 3.6/5 (5 votes)

Hotchkis & Wiley's First Quarter Commentary: Optimistic Outlook Due to Corporate Fundamentals

April 24, 2012

Fundamental improvements across the corporate sector are making Hotchkis & Wiley's managers optimistic for the near future, after a quarter in which financials, technology and consumer discretionary stocks contributed the most to their portfolios: More...

Currently 3.29/5

Rating: 3.3/5 (7 votes)

Guru Stocks Raising Dividends: PNY, MLR, MAIN, GD, SPLS

March 11, 2012

This is the group of companies who raised their dividend during the week: Piedmont Nat Ga, Miller Inds Inc, Main Street Cap, Genl Dynamics, and Staples Inc. More...

Currently 3.40/5

Rating: 3.4/5 (5 votes)

Weekly CEO Buys Highlight: AHT, SPN, WINA, PMC, ULBI

March 4, 2012

According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below: Ashford Hosptly (AHT): CEO Montgomery J Bennett Bought 57,472 Shares More...

Currently 3.10/5

Rating: 3.1/5 (10 votes)

Stocks Bought by Other Hedge Funds from Hotchkis and Wiley

February 15, 2012

Hotchkis and Wiley is an investment manager set up in 1980 that has a disciplined investment approach. The firm finds companies whose stock is below market price but with potential for appreciation, and companies with tangible assets and sustainable cash flow too. More...

HEDGE FUNDS, GURU PICKS, HOT PICKS, PORTFOLIO

Currently 3.33/5

Rating: 3.3/5 (9 votes)

Hotchkis & Wiley - Top 10 Reasons to Invest in High Yield in 2012

January 19, 2012

Introduction: From the Eurozone’s sovereign debt crisis to the United States’ uncooperative Congress, raging geopolitical uncertainty continues to give investors pause. In addition to precipitating undue stress, uncertainty can also precipitate opportunity. The combination of high yields and low defaults is quite uncommon, and in our opinion, presents an unusual opportunity for the astute investor. More...

Currently 4.00/5

Rating: 4.0/5 (7 votes)

Stocks That Hotchkis & Wiley Keeps Buying

January 10, 2012

Hotchkis and Wiley focuses exclusively on finding and owning undervalued companies that have a significant potential for appreciation. More...

STOCK INVESTMENT, TECH STOCKS, BOB DOCHTERMAN

Currently 3.00/5

Rating: 3.0/5 (10 votes)

Hotchkis & Wiley Mid-Cap Value Q3 Commentary

November 4, 2011

MARKET COMMENTARY More...

Currently 3.14/5

Rating: 3.1/5 (7 votes)

Hotchkis & Wiley Q3 Commentary: Large Cap Fundamental Value

November 4, 2011

MARKET COMMENTARY More...

Currently 3.40/5

Rating: 3.4/5 (5 votes)

Hotchkis & Wiley: Large Cap Diversified Value Q3 Commentary

November 4, 2011

Geopolitical concerns dominated financial headlines and triggered extreme volatility during the third quarter. Macroeconomic uncertainty in the US, Europe, and emerging markets combined with skittish market sentiment translated into double-digit equity market losses. These apprehensions overshadowed individual company fundamentals, which have continued to become increasingly compelling. In the US, the debt ceiling issue prompted a contentious debate entwined with political gamesmanship, which resulted in a loss of confidence in policymakers’ ability to reach effective resolution. Meanwhile in Europe, the European Commission, European Central Bank, and International Monetary Fund (coined the “Troika”) have been working with Greece to reach a compromise addressing its deteriorating fiscal situation. Investors appear most concerned about the ramifications of a disorderly Greek default that would result in Greece departing from the euro. This could destabilize existing contractual relationships within the Eurozone and test the euro’s long term sustainability. In addition, this could result in a mass exodus of bank deposits from peripheral Europe to healthier economies (e.g. Germany, More...

Currently 3.50/5

Rating: 3.5/5 (2 votes)

CFO of Merck & Co. Peter Kellogg Buys 15,800 Shares

August 15, 2011

Executive Vice President & CFO of Merck & Co. Inc. (MRK) Peter N. Kellogg bought 15,800 shares on 08/12/2011 at an average price of $31.8. The total transaction amount is $502,440. Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $96.73 billion; its shares were traded at around $31.2 with a P/E ratio of 8.71 and P/S ratio of 2.1. The dividend yield of Merck & Co. Inc. stocks is 4.85%. More...

Currently 3.09/5

Rating: 3.1/5 (11 votes)

Hotchkis & Wiley's Strategies and Top Picks: JPM, HPQ, RDS.B, COP, WFC

June 22, 2011

Hotchkis and Wiley Capital is an investment management firm located in Los Angeles, Calif. The firm is led by George H. Davis Jr., a career investment professional who started his career with Hotchkis and Wiley in 1988. Davis is a graduate of Stanford University, receiving both his BA in Economics and his MBA from the institution. In addition, Hotchkis and Wiley boasts of the utilization of 13 CFA charter holders on their primary investment team, all with a rich history of experience and contacts in the industry. More...

Currently 2.20/5

Rating: 2.2/5 (15 votes)

HOTCHKIS & WILEY Buys Edison International, The Dow Chemical Company, Capital One Financial Corp., Sells Quiksilver Inc., Unisys Corp., Texas Instruments Inc. HOTCHKIS & WILEY Q2 Portfolio Update

July 20, 2009

In HOTCHKIS & WILEY's research, two separate screens are used to identify investment opportunities for the portfolio. The first includes earnings yield (earnings/price), payout yield (dividends plus stock buyback) and financial strength. A second screen which includes factors such as enterprise value to normal EBIT, marginal ROE, and financial strength generates additional candidates. This is their second quarter portfolio update. HOTCHKIS & WILEY owns 88 stocks with a total value of $6.9 billion. More...