Colin Firth and Natalie Portman Colin Firth and Natalie Portman

The King's Speech leads the 83rd Academy Awards with 12 nominations.

The British drama will vie for best picture alongside Black Swan, The Fighter, Inception, The Kids Are All Right, 127 Hours, The Social Network, Toy Story 3, True Grit and Winter's Bone. True Grit collected the second-highest total of nominations — 10.

King's Speech director Tom Hooper will face off against Darren Aronofsky (Black Swan), David O. Russell (The Fighter), David Fincher (The Social Network), and Ethan Coen and Joel Coen (True Grit) for best director. Inception director Christopher Nolan, who earned Golden Globe and Directors Guild Awards nominations, was snubbed. This is the third time he's been left off after garnering a DGA nomination — one of the most reliable Oscar precursors. Nolan was nominated for original screenplay.

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Javier Bardem (Biutiful), for whom many stars including Julia Roberts and Sean Penn campaigned, surprised in the best-actor race. He and Firth will compete against Jeff Bridges (True Grit), Jesse Eisenberg (The Social Network) and James Franco (127 Hours). Should he win, Eisenberg, at 27, would be the youngest best-actor winner ever.

Bridges' True Grit co-star, 14-year-old Hailee Steinfeld, earned a supporting-actress nomination. She's up against Leo, Amy Adams (The Fighter), Helena Bonham Carter (The King's Speech) and Jacki Weaver (Animal Kingdom).

The 83rd Academy Awards, hosted by Anne Hatahway and James Franco, airs Feb. 27 at 8/7c on ABC.

See the nominations below:

Black Swan
The Fighter
The Kids Are All Right
The King's Speech
127 Hours
The Social Network

Toy Story 3
True Grit
Winter's Bone

Darren Aronofsky, Black Swan
David O. Russell, The Fighter
Tom Hooper, The King's Speech
David Fincher, The Social Network
Ethan Coen and Joel Coen, True Grit