Pzena Investment Management 13F, Q4 2025
Richard Pzena · quarter ending 31 December 2025 · filed 6 February 2026 · SEC CIK 1027796
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 157 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| MAGNA INTL INC | MGA | $2.13B | 6.4% | unchanged |
| COGNIZANT TECHNOLOGY SOLUTIO | CTSH | $1.46B | 4.4% | unchanged |
| DOLLAR GEN CORP NEW | DG | $1.42B | 4.2% | -9% shares |
| BAXTER INTL INC | BAX | $1.34B | 4.0% | +22% shares |
| CITIGROUP INC | C | $1.24B | 3.7% | -15% shares |
| CVS HEALTH CORP | CVS | $1.24B | 3.7% | unchanged |
| CAPITAL ONE FINL CORP | COF | $1.22B | 3.6% | unchanged |
| UBS GROUP AG | $1.10B | 3.3% | unchanged | |
| HUMANA INC | HUM | $1.04B | 3.1% | unchanged |
| AMDOCS LTD | $969.10M | 2.9% | +83% shares | |
| BRISTOL-MYERS SQUIBB CO | BMY | $967.87M | 2.9% | +20% shares |
| METLIFE INC | MET | $938.07M | 2.8% | +23% shares |
| WELLS FARGO CO NEW | WFC | $930.20M | 2.8% | -2% shares |
| SS&C TECHNOLOGIES HLDGS INC | SSNC | $901.61M | 2.7% | unchanged |
| TYSON FOODS INC | TSN | $897.50M | 2.7% | +11% shares |
| GLOBAL PMTS INC | GPN | $883.11M | 2.6% | +5% shares |
| LEAR CORP | LEA | $855.76M | 2.6% | unchanged |
| SKYWORKS SOLUTIONS INC | SWKS | $800.65M | 2.4% | +3% shares |
| PPG INDS INC | PPG | $727.34M | 2.2% | +306% shares |
| COREBRIDGE FINL INC | CRBG | $712.99M | 2.1% | +6% shares |
| NOV INC | NOV | $659.03M | 2.0% | unchanged |
| DOW INC | DOW | $645.92M | 1.9% | unchanged |
| NOKIA CORP | NOK | $594.87M | 1.8% | +15% shares |
| UNIVERSAL HLTH SVCS INC | UHS | $460.59M | 1.4% | +32% shares |
| PVH CORPORATION | PVH | $415.16M | 1.2% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Pzena Investment Management opened 12 new positions, added to 34, trimmed 59, left 52 unchanged and exited 9. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 4 more
Exited
- MRC GLOBAL INCwas $74.19M
- WNS HLDGS LTDwas $50.29M
- FNFwas $13.51M
- STEELCASE INCwas $6.73M
- CHRWwas $2.17M
- AMATwas $301.6K
- CALMwas $269.1K
- DELLwas $238.9K
and 1 more
Other quarters
Source: SEC Form 13F-HR, accession 0001027796-26-000009, 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.