Pzena Investment Management 13F, Q1 2025
Richard Pzena · quarter ending 31 March 2025 · filed 2 May 2025 · SEC CIK 1027796
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2025
The 25 largest of 146 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| MAGNA INTL INC | MGA | $1.39B | 4.9% | +5% shares |
| COGNIZANT TECHNOLOGY SOLUTIO | CTSH | $1.31B | 4.6% | -3% shares |
| BAXTER INTL INC | BAX | $1.26B | 4.4% | +9% shares |
| CVS HEALTH CORP | CVS | $1.20B | 4.2% | -10% shares |
| DOLLAR GEN CORP NEW | DG | $1.12B | 3.9% | +9% shares |
| CHARTER COMMUNICATIONS INC N | CHTR | $1.03B | 3.6% | unchanged |
| HUMANA INC | HUM | $1.01B | 3.5% | +6% shares |
| CAPITAL ONE FINL CORP | COF | $998.00M | 3.5% | -10% shares |
| CITIGROUP INC | C | $946.45M | 3.3% | -3% shares |
| DOW INC | DOW | $871.50M | 3.0% | +33% shares |
| SS&C TECHNOLOGIES HLDGS INC | SSNC | $870.67M | 3.0% | -10% shares |
| TYSON FOODS INC | TSN | $846.38M | 3.0% | +11% shares |
| BRISTOL-MYERS SQUIBB CO | BMY | $820.85M | 2.9% | unchanged |
| GLOBAL PMTS INC | GPN | $816.07M | 2.9% | unchanged |
| UBS GROUP AG | $788.66M | 2.8% | unchanged | |
| MEDTRONIC PLC | $753.59M | 2.6% | +2% shares | |
| WELLS FARGO CO NEW | WFC | $705.65M | 2.5% | -29% shares |
| METLIFE INC | MET | $687.20M | 2.4% | -3% shares |
| LEAR CORP | LEA | $676.19M | 2.4% | unchanged |
| NOV INC | NOV | $632.61M | 2.2% | unchanged |
| AMDOCS LTD | $587.30M | 2.0% | -3% shares | |
| SKYWORKS SOLUTIONS INC | SWKS | $501.72M | 1.8% | +38% shares |
| NOKIA CORP | NOK | $424.03M | 1.5% | -4% shares |
| PVH CORPORATION | PVH | $398.28M | 1.4% | +15% shares |
| FRESENIUS MEDICAL CARE AG | FMS | $382.89M | 1.3% | unchanged |
What changed since Q4 2024
Against the Q4 2024 filing, Pzena Investment Management opened 11 new positions, added to 36, trimmed 43, left 56 unchanged and exited 17. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 3 more
Exited
- EIXwas $429.09M
- MCKwas $38.23M
- AXIS CAP HLDGS LTDwas $19.96M
- TPRwas $18.74M
- INVESCO LTDwas $15.50M
- SSLwas $1.61M
- DLTRwas $520.0K
- BDCwas $493.0K
and 9 more
Other quarters
Source: SEC Form 13F-HR, accession 0001027796-25-000029, filed by PZENA INVESTMENT MANAGEMENT LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.