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Asset manager

Pzena Investment Management LLC

13F for the quarter to June 30, 2026, filed August 7, 2026 · SEC CIK 1027796

Reported value
$34.1bn
96% in companies we cover
Positions we cover
142
Largest MGA 6.5%
Copy, a year
+11.1%
S&P 500 +14.1%
Copy Sharpe ratio
0.50
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$40.0k
CopyS&P 500 $10,000 copying Pzena Investment Management LLC's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −47.5% (S&P 500 −31.8%); beta 1.14; alpha −3.4% a year (t = −1.04); last 12 months +23.1% against +12.1%.

Reported value by quarter

Pzena Investment Management LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $10T $20T $30T Reported value, 2013-06-30: $15B Reported value, 2013-09-30: $15.5B Reported value, 2013-12-31: $17.1B Reported value, 2014-03-31: $17.4B Reported value, 2014-06-30: $18B Reported value, 2014-09-30: $18.3B Reported value, 2014-12-31: $18.7B Reported value, 2015-03-31: $18B Reported value, 2015-06-30: $17.7B Reported value, 2015-09-30: $15.7B Reported value, 2015-12-31: $16.2B Reported value, 2016-03-31: $16.3B Reported value, 2016-06-30: $16B Reported value, 2016-09-30: $16.4B Reported value, 2016-12-31: $17.5B Reported value, 2017-03-31: $17.7B Reported value, 2017-06-30: $18.3B Reported value, 2017-09-30: $18.9B Reported value, 2017-12-31: $20.4B Reported value, 2018-03-31: $19.7B Reported value, 2018-06-30: $19.9B Reported value, 2018-09-30: $20.6B Reported value, 2018-12-31: $17.1B Reported value, 2019-03-31: $18.4B Reported value, 2019-06-30: $19B Reported value, 2019-09-30: $18.4B Reported value, 2019-12-31: $21.4B Reported value, 2020-03-31: $13.2B Reported value, 2020-06-30: $15.3B Reported value, 2020-09-30: $16B Reported value, 2020-12-31: $21.2B Reported value, 2021-03-31: $24.6B Reported value, 2021-06-30: $25.7B Reported value, 2021-09-30: $25.3B Reported value, 2021-12-31: $26.5B Reported value, 2022-03-31: $26.5B Reported value, 2022-06-30: $22.3B Reported value, 2022-09-30: $20.1B Reported value, 2022-12-31: $22.6T Reported value, 2023-03-31: $23.2B Reported value, 2023-06-30: $23.4B Reported value, 2023-09-30: $23.3B Reported value, 2023-12-31: $26.6B Reported value, 2024-03-31: $29.1B Reported value, 2024-06-30: $28.4B Reported value, 2024-09-30: $31B Reported value, 2024-12-31: $29.4B Reported value, 2025-03-31: $28.6B Reported value, 2025-06-30: $30.8B Reported value, 2025-09-30: $30.9B Reported value, 2025-12-31: $33.4B Reported value, 2026-03-31: $30.8B Reported value, 2026-06-30: $34.1B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $34.1B
View chart data
Period Reported value
2013-06-30 $15B
2013-09-30 $15.5B
2013-12-31 $17.1B
2014-03-31 $17.4B
2014-06-30 $18B
2014-09-30 $18.3B
2014-12-31 $18.7B
2015-03-31 $18B
2015-06-30 $17.7B
2015-09-30 $15.7B
2015-12-31 $16.2B
2016-03-31 $16.3B
2016-06-30 $16B
2016-09-30 $16.4B
2016-12-31 $17.5B
2017-03-31 $17.7B
2017-06-30 $18.3B
2017-09-30 $18.9B
2017-12-31 $20.4B
2018-03-31 $19.7B
2018-06-30 $19.9B
2018-09-30 $20.6B
2018-12-31 $17.1B
2019-03-31 $18.4B
2019-06-30 $19B
2019-09-30 $18.4B
2019-12-31 $21.4B
2020-03-31 $13.2B
2020-06-30 $15.3B
2020-09-30 $16B
2020-12-31 $21.2B
2021-03-31 $24.6B
2021-06-30 $25.7B
2021-09-30 $25.3B
2021-12-31 $26.5B
2022-03-31 $26.5B
2022-06-30 $22.3B
2022-09-30 $20.1B
2022-12-31 $22.6T
2023-03-31 $23.2B
2023-06-30 $23.4B
2023-09-30 $23.3B
2023-12-31 $26.6B
2024-03-31 $29.1B
2024-06-30 $28.4B
2024-09-30 $31B
2024-12-31 $29.4B
2025-03-31 $28.6B
2025-06-30 $30.8B
2025-09-30 $30.9B
2025-12-31 $33.4B
2026-03-31 $30.8B
2026-06-30 $34.1B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
MGAMagna International Inc6.54%$2.2bn23.88M−5.7% Reduced
HUMHumana5.13%$1.7bn4.40M−19.5% Reduced
BAXBaxter International4.09%$1.4bn65.30M+1.2% Added
CVSCVS Health3.57%$1.2bn11.77M−14.5% Reduced
DGDollar General3.45%$1.2bn10.22M+48.2% Added
SWKSSkyworks Solutions, Inc.3.18%$1.1bn15.97M−0.8% Reduced
CTSHCognizant3.02%$1.0bn26.53M+30.9% Added
BMYBristol Myers Squibb2.88%$979.9m17.01M−0.5% Reduced
TSNTyson Foods2.86%$974.2m17.02M−0.8% Reduced
CRBGCorebridge Financial, Inc.2.84%$967.4m33.79M+24.9% Added
PPGPPG Industries2.78%$947.0m7.81M+4.4% Added
METMetLife2.77%$941.8m11.13M−1.5% Reduced
COFCapital One2.71%$921.6m4.59M+0.3%
UBSUBS Group AG2.66%$905.5m22.60M−14.8% Reduced
LEALear Corp2.61%$889.9m6.64M−1.8% Reduced
GPNGlobal Payments2.49%$848.3m11.69M+0.7% Added
CCitigroup2.28%$776.6m5.55M−32.1% Reduced
WFCWells Fargo2.14%$729.5m8.83M+0.6% Added
DOXAmdocs LTD2.08%$706.8m13.99M+10.3% Added
SSNCSS&C Technologies Holdings Inc2.01%$684.8m11.04M+13.8% Added
NOVNOV Inc.1.98%$674.8m36.38M−3.1% Reduced
ACNAccenture1.88%$639.9m5.14M+113.8% Added
PVHPVH Corp.1.30%$444.6m5.99M+3.8% Added
LKQLKQ Corp1.17%$398.7m15.14M+142.9% Added
CDWCDW Corporation1.09%$371.1m2.64M+136.6% Added
BACBank of America1.05%$359.6m6.31M−1.7% Reduced
DOWDow Inc.1.00%$342.2m12.51M−34.0% Reduced
VOYAVoya Financial, Inc.0.94%$319.5m3.53M−3.9% Reduced
NWLNewell Brands Inc.0.86%$294.7m47.99M+0.4%
UHSUniversal Health Services0.86%$292.8m1.97M+3.0% Added
AVTAvnet Inc0.81%$277.2m3.12M−45.2% Reduced
AAPAdvance Auto Parts Inc0.80%$273.1m4.39M+2.1% Added
MDTMedtronic0.72%$246.3m3.15M−0.3%
DALDelta Air Lines0.72%$245.3m2.62M−6.7% Reduced
EQHEquitable Holdings, Inc.0.72%$244.1m5.56M+24.6% Added
GLGlobe Life0.71%$242.3m1.36M+32.1% Added
WDAYWorkday, Inc.0.71%$241.3m1.97MNew
SPBSpectrum Brands Holdings, Inc.0.61%$207.6m2.42M+3.5% Added
MICCMagnum Ice Cream Co N.V.0.59%$201.1m13.20M+87.6% Added
SHELShell plc0.59%$200.1m2.58M−19.2% Reduced
RHIRobert Half Inc.0.56%$191.0m6.22M+4.3% Added
ZTOZTO Express (cayman) Inc.0.48%$163.9m7.32M−1.9% Reduced
MBCMasterbrand, Inc.0.46%$157.7m15.33M+301.9% Added
CICigna0.46%$154.9m562.0K−2.8% Reduced
CSCOCisco0.44%$150.5m1.28M−2.1% Reduced
PFEPfizer0.42%$143.5m5.96M+0.6% Added
MHKMohawk Industries Inc0.41%$138.7m1.14M−0.9% Reduced
HALHalliburton0.39%$133.3m3.93M−3.5% Reduced
BEKEKE Holdings Inc.0.38%$129.0m8.88MNew
CNOCNO Financial Group, Inc.0.36%$124.5m2.44M−1.2% Reduced
TELTE Connectivity0.33%$112.0m555.6K−8.0% Reduced
GLOBGlobant S.a.0.33%$111.7m3.86M+30.0% Added
JPMJPMorgan Chase0.32%$109.4m334.1K−0.9% Reduced
STSensata Technologies Holding plc0.32%$107.5m2.25M−35.3% Reduced
MSMorgan Stanley0.28%$95.0m454.5K−4.6% Reduced
GGenpact LTD0.27%$91.3m3.32M+353.5% Added
FITBFifth Third Bancorp0.26%$89.3m1.58M−3.1% Reduced
ARCOArcos Dorados Holdings Inc.0.26%$87.1m10.80M+0.6% Added
ELVElevance Health0.26%$86.8m224.6K+2.0% Added
DISThe Walt Disney Company0.25%$85.0m883.5K+879.3% Added
STZConstellation Brands0.24%$83.4m599.3K+0.6% Added
ABMABM Industries Inc0.23%$80.0m1.81M+18.7% Added
OLNOlin Corp0.23%$77.1m3.89M−12.2% Reduced
CNXCConcentrix Corp0.23%$76.5m3.41M+16.0% Added
TFXTeleflex Inc0.22%$76.5m603.2K−13.7% Reduced
PLOWDouglas Dynamics, Inc0.22%$74.7m1.38M−13.1% Reduced
ONBOLD National Bancorp0.22%$73.6m2.84M+5.6% Added
HSICHenry Schein0.21%$71.9m860.7K−3.0% Reduced
GPCGenuine Parts Company0.20%$69.8m592.0K+3.1% Added
ADNTAdient plc0.20%$69.3m3.77M+3.7% Added
COLBColumbia Banking System, Inc.0.20%$68.2m2.13M+4.7% Added
WSFSWsfs Financial Corp0.20%$68.2m888.5K+1.1% Added
MMIMarcus & Millichap, Inc.0.20%$66.7m2.14M+6.4% Added
OSKOshkosh Corp0.19%$63.8m415.8K−5.3% Reduced
MLKNMillerknoll, Inc.0.18%$62.0m3.03M+52.0% Added
ASBAssociated Banc-corp0.18%$61.2m1.99M+3.5% Added
GOOGLAlphabet Inc. (Class A)0.18%$61.2m171.2K0.0%
SCSCScansource, Inc.0.17%$57.8m1.11M+21.5% Added
KFYKorn Ferry0.17%$57.8m867.7K+8.8% Added
RFRegions Financial Corporation0.16%$55.6m1.84M0.0%
HUNHuntsman Corp0.16%$54.8m5.16M−11.3% Reduced
AEBIAebi Schmidt Holding AG0.16%$54.2m4.32M+5.1% Added
WGOWinnebago Industries Inc0.16%$53.4m1.71M+72.1% Added
REZIResideo Technologies, Inc.0.15%$52.5m1.69M+22.5% Added
MBUUMalibu Boats, Inc.0.14%$49.2m1.79M+5.7% Added
TGTTarget Corporation0.14%$48.8m373.5K0.0%
KOPKoppers Holdings Inc.0.14%$47.7m1.06M−12.2% Reduced
VREXVarex Imaging Corp0.13%$45.3m4.34M+8.8% Added
HRHealthcare Realty Trust Inc0.13%$44.9m2.23M0.0%
MSMMSC Industrial Direct Co Inc0.13%$44.4m373.7K−16.0% Reduced
HDBHdfc Bank LTD0.12%$41.7m1.61M+6.2% Added
CBRECBRE Group0.12%$41.2m305.8K+1.3% Added
HVTHaverty Furniture Companies Inc0.12%$39.9m1.56M+7.1% Added
GDGeneral Dynamics0.11%$38.5m108.6K+1.0% Added
HCAHCA Healthcare0.11%$37.7m96.6K+2.5% Added
DNOWDnow Inc.0.11%$37.5m2.89M−6.5% Reduced
GCOGenesco Inc0.11%$37.1m1.10M+1.7% Added
KEYKeyCorp0.11%$36.8m1.60M−3.7% Reduced
UVSPUnivest Financial Corp0.11%$36.5m834.6K−0.9% Reduced
BFHBread Financial Holdings, Inc.0.10%$35.5m327.4K−46.6% Reduced
DRHDiamondrock Hospitality Co0.10%$34.5m2.83M−0.2%
AIGAmerican International Group0.10%$34.0m456.6K+1.5% Added
SOLVSolventum0.10%$32.2m417.8K−5.0% Reduced
OECOrion S.a.0.09%$31.6m4.77M+3.7% Added
NVSTEnvista Holdings Corp0.09%$30.5m1.16M−27.9% Reduced
MYEMyers Industries Inc0.08%$27.6m781.0K−39.2% Reduced
HOFTHooker Furnishings Corp0.08%$27.5m1.54M+11.9% Added
ARWArrow Electronics, Inc.0.08%$26.7m125.2K−40.7% Reduced
USNAUsana Health Sciences Inc0.08%$25.7m1.21M+8.7% Added
LDOSLeidos0.07%$25.5m247.8K0.0%
WCCWesco International Inc0.07%$24.7m71.5K−37.1% Reduced
TBITrueblue, Inc.0.06%$21.5m3.09M+7.6% Added
HELEHelen Of Troy LTD0.06%$19.7m676.6K−11.1% Reduced
UVVUniversal Corp0.06%$19.0m363.5K+10.3% Added
MANManpowergroup Inc.0.04%$11.9m351.1K0.0%
ABEVAmbev S.a.0.03%$11.7m3.74M−20.7% Reduced
BIDUBaidu, Inc.0.01%$4.7m41.5K−15.0% Reduced
KNXKnight-swift Transportation Holdings Inc.0.01%$4.6m59.4K−95.3% Reduced
BABAAlibaba Group Holding Ltd0.01%$2.6m26.8K−5.9% Reduced
HSBCHsbc Holdings PLC0.01%$2.2m23.6K−1.6% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD0.01%$1.9m4.1K−78.6% Reduced
PHGKoninklijke Philips NV0.00%$1.3m48.2K+15.8% Added
GSKGSK plc0.00%$1.3m24.5K+30.2% Added
SAPSAP SE0.00%$1.0m6.6KNew
CIGEnergy Co Of Minas Gerais0.00%$953,310454.0K−58.0% Reduced
VALEVale S.a.0.00%$888,52259.1K−68.7% Reduced
MTArcelormittal0.00%$492,6018.2K−55.6% Reduced
ZBRAZebra Technologies0.00%$357,7701.4KNew
MRKMerck & Co.0.00%$322,6642.5K0.0%
HALOHalozyme Therapeutics, Inc.0.00%$316,9154.0K0.0%
TOSTToast, Inc.0.00%$304,49010.9KNew
ORCLOracle Corporation0.00%$304,2382.1KNew
ADSKAutodesk, Inc.0.00%$292,7971.5K+47.9% Added
NVDANVIDIA Corporation0.00%$289,1301.4KNew
MSFTMicrosoft Corporation0.00%$281,630755−0.9% Reduced
GEGE Aerospace0.00%$275,0657360.0%
EXPEExpedia Group0.00%$271,2331.1KNew
CRMSalesforce0.00%$235,3031.5KNew
ADBEAdobe Inc.0.00%$224,2921.1K+8.3% Added
GEVGE Vernova0.00%$216,174184New
STTState Street Corporation0.00%$208,7781.2KNew
DOCUDocusign, Inc.0.00%$200,3344.5K0.0%
CompanyBought (value)Shares
DGDollar General$382.7m3.32M
ACNAccenture$340.5m2.74M
CTSHCognizant$242.7m6.27M
WDAYWorkday, Inc.$241.3m1.97M
LKQLKQ Corp$234.6m8.91M
CDWCDW Corporation$214.2m1.52M
CRBGCorebridge Financial, Inc.$193.1m6.74M
BEKEKE Holdings Inc.$129.0m8.88M
MBCMasterbrand, Inc.$118.5m11.52M
MICCMagnum Ice Cream Co N.V.$93.9m6.16M
SSNCSS&C Technologies Holdings Inc$83.0m1.34M
DISThe Walt Disney Company$76.4m793.3K
GGenpact LTD$71.2m2.59M
DOXAmdocs LTD$65.9m1.30M
GLGlobe Life$58.9m329.6K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
HUMHumana−$424.2m−1.07M
CCitigroup−$367.6m−2.63M
AVTAvnet Inc−$228.4m−2.57M
CVSCVS Health−$207.3m−2.00M
DOWDow Inc.−$176.2m−6.44M
UBSUBS Group AG−$157.8m−3.94M
MGAMagna International Inc−$134.9m−1.45M
KNXKnight-swift Transportation Holdings Inc.−$93.5m−1.20M
WABWabtec−$91.9m−367.8K
STSensata Technologies Holding plc−$58.7m−1.23M
JNJJohnson & Johnson−$49.9m−204.0K
SHELShell plc−$47.7m−615.2K
BFHBread Financial Holdings, Inc.−$31.0m−286.2K
NOVNOV Inc.−$21.5m−1.16M
ARWArrow Electronics, Inc.−$18.3m−85.9K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
WABWabtec$91.9m367.8K
JNJJohnson & Johnson$49.9m204.0K
TRSTrimas Corp$356,6339.9K
CRUSCirrus Logic, Inc.$305,7272.1K
HIGThe Hartford$287,6342.1K
INTUIntuit$242,133560
TMUST-Mobile US$204,779975
  • Financials25.0%
  • Health Care20.0%
  • Technology17.0%
  • Consumer Discretionary15.6%
  • Consumer Staples8.4%
  • Industrials4.9%
  • Materials4.7%
  • Energy3.1%
  • Real Estate1.0%
  • Communication Services0.5%
  • Utilities0.0%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+11.1%+14.1%0.500.78−47.5%1.14
2018 onwardsJanuary 5, 2018 to November 2, 2026+9.3%+13.9%0.370.66−47.5%1.12
Last three yearsNovember 3, 2023 to November 2, 2026+15.6%+21.8%0.691.16−17.0%0.79
Last yearNovember 7, 2025 to November 2, 2026+24.8%+14.2%1.280.84−11.6%0.61

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.