Pzena Investment Management 13F, Q3 2025
Richard Pzena · quarter ending 30 September 2025 · filed 7 November 2025 · SEC CIK 1027796
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 154 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| MAGNA INTL INC | MGA | $1.92B | 6.2% | unchanged |
| BAXTER INTL INC | BAX | $1.31B | 4.2% | +46% shares |
| CITIGROUP INC | C | $1.27B | 4.1% | -8% shares |
| DOLLAR GEN CORP NEW | DG | $1.21B | 3.9% | unchanged |
| CVS HEALTH CORP | CVS | $1.19B | 3.9% | -5% shares |
| COGNIZANT TECHNOLOGY SOLUTIO | CTSH | $1.19B | 3.8% | unchanged |
| CAPITAL ONE FINL CORP | COF | $1.07B | 3.5% | -7% shares |
| HUMANA INC | HUM | $1.05B | 3.4% | unchanged |
| UBS GROUP AG | $967.06M | 3.1% | -4% shares | |
| SKYWORKS SOLUTIONS INC | SWKS | $944.71M | 3.0% | unchanged |
| GLOBAL PMTS INC | GPN | $906.30M | 2.9% | unchanged |
| SS&C TECHNOLOGIES HLDGS INC | SSNC | $903.21M | 2.9% | -3% shares |
| WELLS FARGO CO NEW | WFC | $856.42M | 2.8% | unchanged |
| METLIFE INC | MET | $796.68M | 2.6% | +6% shares |
| LEAR CORP | LEA | $754.32M | 2.4% | unchanged |
| TYSON FOODS INC | TSN | $750.94M | 2.4% | unchanged |
| COREBRIDGE FINL INC | CRBG | $715.65M | 2.3% | +19% shares |
| BRISTOL-MYERS SQUIBB CO | BMY | $672.06M | 2.2% | unchanged |
| DOW INC | DOW | $622.92M | 2.0% | unchanged |
| MEDTRONIC PLC | $564.59M | 1.8% | -33% shares | |
| NOV INC | NOV | $561.67M | 1.8% | unchanged |
| AMDOCS LTD | $540.98M | 1.8% | unchanged | |
| PVH CORPORATION | PVH | $523.98M | 1.7% | -2% shares |
| TE CONNECTIVITY PLC | $414.82M | 1.3% | -22% shares | |
| FRESENIUS MEDICAL CARE AG | FMS | $390.13M | 1.3% | unchanged |
What changed since Q2 2025
Against the Q2 2025 filing, Pzena Investment Management opened 8 new positions, added to 37, trimmed 42, left 67 unchanged and exited 6. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001027796-25-000057, 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.