Pzena Investment Management 13F, Q2 2025
Richard Pzena · quarter ending 30 June 2025 · filed 25 July 2025 · SEC CIK 1027796
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 152 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| MAGNA INTL INC | MGA | $1.55B | 5.0% | +4% shares |
| COGNIZANT TECHNOLOGY SOLUTIO | CTSH | $1.36B | 4.4% | +2% shares |
| DOLLAR GEN CORP NEW | DG | $1.36B | 4.4% | -7% shares |
| BAXTER INTL INC | BAX | $1.19B | 3.9% | +7% shares |
| CITIGROUP INC | C | $1.16B | 3.8% | unchanged |
| CVS HEALTH CORP | CVS | $1.16B | 3.8% | -5% shares |
| CAPITAL ONE FINL CORP | COF | $1.15B | 3.8% | -3% shares |
| CHARTER COMMUNICATIONS INC N | CHTR | $1.08B | 3.5% | -5% shares |
| HUMANA INC | HUM | $996.66M | 3.2% | +7% shares |
| SKYWORKS SOLUTIONS INC | SWKS | $909.71M | 3.0% | +57% shares |
| GLOBAL PMTS INC | GPN | $884.46M | 2.9% | +33% shares |
| SS&C TECHNOLOGIES HLDGS INC | SSNC | $866.14M | 2.8% | unchanged |
| WELLS FARGO CO NEW | WFC | $830.99M | 2.7% | +6% shares |
| UBS GROUP AG | $829.73M | 2.7% | +5% shares | |
| MEDTRONIC PLC | $771.92M | 2.5% | +6% shares | |
| TYSON FOODS INC | TSN | $766.86M | 2.5% | +3% shares |
| METLIFE INC | MET | $735.41M | 2.4% | +7% shares |
| LEAR CORP | LEA | $722.13M | 2.4% | unchanged |
| DOW INC | DOW | $717.38M | 2.3% | +9% shares |
| BRISTOL-MYERS SQUIBB CO | BMY | $687.10M | 2.2% | +10% shares |
| COREBRIDGE FINL INC | CRBG | $664.69M | 2.2% | +133% shares |
| AMDOCS LTD | $597.72M | 1.9% | +2% shares | |
| NOV INC | NOV | $530.87M | 1.7% | +3% shares |
| PVH CORPORATION | PVH | $439.56M | 1.4% | +4% shares |
| FRESENIUS MEDICAL CARE AG | FMS | $418.92M | 1.4% | -5% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Pzena Investment Management opened 12 new positions, added to 76, trimmed 27, left 37 unchanged and exited 6. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- WNS HLDGS LTD$105.13M
- OSK$59.71M
- ARCOS DORADOS HOLDINGS INC$51.55M
- TFX$42.15M
- GSK$288.4K
- CALM$281.3K
- MRK$263.1K
- ULTA$245.6K
and 4 more
Exited
- JELDwas $61.56M
- PAHCwas $15.46M
- GILDwas $298.3K
- CORwas $272.5K
- EBAYwas $261.4K
- DISCOVER FINL SVCSwas $249.1K
Other quarters
Source: SEC Form 13F-HR, accession 0001027796-25-000043, 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.