Pzena Investment Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), Pzena Investment Management LLC reported 146 stock positions worth $28.6 billion. Its top holding was Magna International (MGA) at 4.9% of the portfolio, followed by Cognizant Tech Solutions-A (CTSH, 4.6%) and Baxter International (BAX, 4.4%). Compared with Q4 2024, it opened 11 new positions, sold out of 17, added to 59 and reduced 67. The biggest buy was Baxter International (BAX, shares +9%) and the biggest sale Bank of America (BAC, shares −62%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001027796
- Portfolio Value
- $28.6B (Q1 2025)
- SEC Filing
- 0001027796-25-000029 ↗ filed May 2, 2025
Holdings Value
Holdings 146 stocks · $28.6B
| MGA Magna International Inc. | 4.86% | 28,451,047 | $1.4B | Add +5.3% |
| CTSH Cognizant Tech Solutions-A | 4.56% | 17,075,072 | $1.3B | Reduce -3.4% |
| BAX Baxter International Inc. | 4.39% | 36,772,566 | $1.3B | Add +9.3% |
| CVS CVS Health Corp. | 4.18% | 17,682,374 | $1.2B | Reduce -9.8% |
| DG Dollar General Corp. | 3.92% | 12,770,542 | $1.1B | Add +8.5% |
| CHTR Charter Communications Inc. Class A | 3.58% | 2,783,467 | $1.0B | Reduce -0.8% |
| HUM Humana Inc. | 3.54% | 3,828,923 | $1.0B | Add +6.1% |
| COF Capital One Financial Corp. | 3.48% | 5,566,112 | $998.0M | Reduce -9.8% |
| C Citigroup Inc. | 3.30% | 13,332,140 | $946.4M | Reduce -2.9% |
| DOW Dow Inc. | 3.04% | 24,956,985 | $871.5M | Add +32.8% |
| SSNC Ss&c Technologies Holdings | 3.04% | 10,423,445 | $870.7M | Reduce -9.8% |
| TSN Tyson Foods Inc. Class A | 2.96% | 13,264,052 | $846.4M | Add +10.6% |
| BMY Bristol-Myers Squibb Co. | 2.87% | 13,458,826 | $820.9M | Add +1.2% |
| GPN Global Payments Inc. | 2.85% | 8,334,097 | $816.1M | Add +0.4% |
| UBS UBS Group AG-Reg | 2.75% | 29,350,825 | $788.7M | Reduce -0.8% |
| MDT Medtronic PLC | 2.63% | 8,386,222 | $753.6M | Add +2.1% |
| WFC Wells Fargo & Co. | 2.46% | 9,829,319 | $705.6M | Reduce -28.9% |
| MET Metlife Inc. | 2.40% | 8,558,964 | $687.2M | Reduce -2.8% |
| LEA Lear Corp. | 2.36% | 7,664,800 | $676.2M | Reduce -0.2% |
| NOV Nov Inc. | 2.21% | 41,564,404 | $632.6M | Add +0.3% |
| DOX Amdocs Ltd. | 2.05% | 6,418,602 | $587.3M | Reduce -3.3% |
| SWKS Skyworks Solutions Inc. | 1.75% | 7,762,896 | $501.7M | Add +37.9% |
| NOK Nokia Corp.-Spon ADR | 1.48% | 80,461,970 | $424.0M | Reduce -4.0% |
| PVH PVH Corp. | 1.39% | 6,161,567 | $398.3M | Add +15.1% |
| FMS Fresenius Medical Care-ADR | 1.34% | 15,377,090 | $382.9M | Add +0.6% |
| TEL Te Connectivity PLC | 1.22% | 2,468,586 | $348.9M | Add +1.1% |
| AVT Avnet Inc. | 1.20% | 7,132,296 | $343.0M | Reduce -1.9% |
| EQH Equitable Holdings Inc. | 1.07% | 5,902,357 | $307.5M | Reduce -27.9% |
| NWL Newell Brands Inc. | 1.05% | 48,738,611 | $302.2M | Reduce -0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.93% | 6,352,945 | $265.1M | Reduce -61.8% |
| SHEL Shell PLC-ADR | 0.92% | 3,592,218 | $263.2M | Add +0.4% |
| CRBG Corebridge Financial Inc. | 0.89% | 8,050,602 | $254.2M | Add +73.6% |
| VOYA Voya Financial Inc. | 0.85% | 3,599,164 | $243.9M | Add +0.9% |
| BAP Credicorp Ltd. | 0.68% | 1,045,374 | $194.6M | Reduce -3.3% |
| DAL Delta Air Lines Inc. | 0.64% | 4,231,612 | $184.5M | Reduce -14.2% |
| PFE Pfizer Inc. | 0.62% | 7,058,981 | $178.9M | Add +1.6% |
| AAP Advance Auto Parts Inc. | 0.59% | 4,312,508 | $169.1M | Add +31.8% |
| CI The Cigna Group | 0.55% | 477,460 | $157.1M | Reduce -2.9% |
| ZTO Zto Express Cayman Inc.-ADR | 0.54% | 7,728,602 | $153.3M | Reduce -1.7% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.46% | 1,432,981 | $133.1M | Add +27.2% |
| MHK Mohawk Industries Inc. | 0.44% | 1,115,944 | $127.4M | Add +2.5% |
| CNXC Concentrix Corp. | 0.44% | 2,286,864 | $127.2M | Reduce -2.7% |
| GL Globe Life Inc. | 0.43% | 940,880 | $123.9M | Reduce -2.0% |
| CSCO Cisco Systems Inc. | 0.39% | 1,829,420 | $112.9M | Reduce -1.5% |
| CNO Cno Financial Group Inc. | 0.37% | 2,564,793 | $106.8M | Reduce -19.3% |
| PPG PPG Industries Inc. | 0.37% | 963,412 | $105.3M | New |
| SPB Spectrum Brands Holdings Inc. | 0.33% | 1,334,033 | $95.5M | Add +0.1% |
| MS Morgan Stanley | 0.31% | 763,174 | $89.0M | Add +1.9% |
| OLN Olin Corp. | 0.31% | 3,662,539 | $88.8M | Reduce -1.3% |
| ELV Elevance Health Inc. | 0.31% | 200,980 | $87.4M | Add +3.6% |
| WBS Webster Financial Corp. | 0.29% | 1,589,153 | $81.9M | Reduce -0.7% |
| HUN Huntsman Corp. | 0.27% | 4,859,007 | $76.7M | Add +3.5% |
| JPM JPMorgan Chase & Co. | 0.27% | 312,233 | $76.6M | Reduce -49.4% |
| GD General Dynamics Corp. | 0.27% | 278,528 | $75.9M | Add +2.9% |
| GS Goldman Sachs Group Inc. | 0.26% | 136,653 | $74.7M | Add +2.4% |
| UHS Universal Health Services-B | 0.26% | 391,837 | $73.6M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.26% | 615,423 | $73.2M | Add +3.2% |
| RHI Robert Half Inc. | 0.25% | 1,318,708 | $71.9M | Add +29.2% |
| DRH Diamondrock Hospitality Co. | 0.23% | 8,603,668 | $66.4M | Add +0.0% |
| HSIC Henry Schein Inc. | 0.23% | 965,733 | $66.1M | Reduce -1.8% |
| WAB Wabtec Corp. | 0.22% | 344,136 | $62.4M | Add +3.4% |
| JELD Jeld-Wen Holding Inc. | 0.21% | 10,311,305 | $61.6M | Reduce -7.7% |
| MRC MRC Global Inc. | 0.21% | 5,350,419 | $61.4M | Reduce -8.2% |
| ONB Old National Bancorp | 0.21% | 2,875,181 | $60.9M | Reduce -1.4% |
| SCS Steelcase Inc. Class A | 0.21% | 5,364,920 | $58.8M | Reduce -0.2% |
| PLOW Douglas Dynamics Inc. | 0.18% | 2,273,003 | $52.8M | Add +35.4% |
| CBRE CBRE Group Inc. Class A | 0.18% | 403,622 | $52.8M | Add +2.1% |
| KFY Korn Ferry | 0.18% | 767,958 | $52.1M | Reduce -23.3% |
| UVV Universal Corp. | 0.18% | 911,834 | $51.1M | Reduce -0.4% |
| ADNT Adient PLC | 0.18% | 3,901,573 | $50.2M | Add +7.5% |
| TRS Trimas Corp. | 0.17% | 2,135,554 | $50.0M | Add +0.7% |
| AMWD American Woodmark Corp. | 0.17% | 840,674 | $49.5M | Add +71.7% |
| MBUU Malibu Boats Inc. Class A | 0.16% | 1,534,839 | $47.1M | Add +0.8% |
| REZI Resideo Technologies Inc. | 0.16% | 2,645,320 | $46.8M | Reduce -1.0% |
| VREX Varex Imaging Corp. | 0.15% | 3,802,349 | $44.1M | Reduce -0.3% |
| OEC Orion SA | 0.15% | 3,328,902 | $43.0M | Add +0.5% |
| LKQ LKQ Corp. | 0.15% | 1,005,888 | $42.8M | New |
| AIG American International Group | 0.15% | 488,074 | $42.4M | Add +2.6% |
| RF Regions Financial Corp. | 0.14% | 1,899,232 | $41.3M | No change |
| WSFS WSFS Financial Corp. | 0.14% | 787,809 | $40.9M | Reduce -0.3% |
| HELE Helen of Troy Ltd. | 0.14% | 756,227 | $40.5M | Add +7.2% |
| HAL Halliburton Co. | 0.14% | 1,591,130 | $40.4M | Add +2.8% |
| ASB Associated Banc-Corp. | 0.14% | 1,787,866 | $40.3M | Reduce -0.6% |
| ABM Abm Industries Inc. | 0.14% | 849,458 | $40.2M | Reduce -0.2% |
| NVST Envista Holdings Corp. | 0.14% | 2,294,257 | $39.6M | Add +160.7% |
| HCA HCA Healthcare Inc. | 0.14% | 114,151 | $39.4M | New |
| JNJ Johnson & Johnson | 0.14% | 235,786 | $39.1M | Add +3.0% |
| HR Healthcare Realty Trust Inc. | 0.13% | 2,225,789 | $37.6M | No change |
| MBC Masterbrand Inc. | 0.13% | 2,859,484 | $37.3M | Add +0.4% |
| FITB Fifth Third Bancorp | 0.13% | 950,851 | $37.3M | Reduce -3.2% |
| G Genpact Ltd. | 0.13% | 732,142 | $36.9M | Reduce -37.1% |
| BFH Bread Financial Holdings Inc. | 0.13% | 728,204 | $36.5M | Add +0.8% |
| TGT Target Corp. | 0.13% | 345,129 | $36.0M | New |
| MSM MSC Industrial Direct Co. Class A | 0.13% | 461,931 | $35.9M | No change |
| GPC Genuine Parts Co. | 0.13% | 300,987 | $35.9M | New |
| WCC Wesco International Inc. | 0.12% | 228,819 | $35.5M | No change |
| COLB Columbia Banking System Inc. | 0.12% | 1,419,939 | $35.4M | Reduce -0.6% |
| SHG Shinhan Financial Group-ADR | 0.12% | 1,078,696 | $34.6M | Add +0.4% |
| KOP Koppers Holdings Inc. | 0.12% | 1,221,328 | $34.2M | Add +34.4% |
| HDB HDFC Bank Ltd.-ADR | 0.12% | 512,881 | $34.1M | Add +0.6% |
Portfolio Sells Q4 2024 → Q1 2025
| BAC Bank of America Corp. | Reduce -61.8% | 0.93% | −1.56 |
| EIX Edison International | Sold out | 0.00% | −1.46 |
| WFC Wells Fargo & Co. | Reduce -28.9% | 2.46% | −0.84 |
| NWL Newell Brands Inc. | Reduce -0.6% | 1.05% | −0.61 |
| DAL Delta Air Lines Inc. | Reduce -14.2% | 0.64% | −0.37 |
| COF Capital One Financial Corp. | Reduce -9.8% | 3.48% | −0.26 |
| EQH Equitable Holdings Inc. | Reduce -27.9% | 1.07% | −0.24 |
| JPM JPMorgan Chase & Co. | Reduce -49.4% | 0.27% | −0.24 |
| MCK McKesson Corp. | Sold out | 0.00% | −0.13 |
| OLN Olin Corp. | Reduce -1.3% | 0.31% | −0.12 |
| LEA Lear Corp. | Reduce -0.2% | 2.36% | −0.11 |
| AVT Avnet Inc. | Reduce -1.9% | 1.20% | −0.10 |
| JELD Jeld-Wen Holding Inc. | Reduce -7.7% | 0.21% | −0.10 |
| GCO Genesco Inc. | Reduce -5.3% | 0.07% | −0.08 |
| AXS Axis Capital Holdings Ltd. | Sold out | 0.00% | −0.07 |
| TPR Tapestry Inc. | Sold out | 0.00% | −0.06 |
| CTSH Cognizant Tech Solutions-A | Reduce -3.4% | 4.56% | −0.06 |
| MET Metlife Inc. | Reduce -2.8% | 2.40% | −0.05 |
| IVZ Invesco Ltd. | Sold out | 0.00% | −0.05 |
| DAN Dana Inc. | Reduce -51.5% | 0.07% | −0.05 |
| KFY Korn Ferry | Reduce -23.3% | 0.18% | −0.05 |
| REZI Resideo Technologies Inc. | Reduce -1.0% | 0.16% | −0.05 |
| G Genpact Ltd. | Reduce -37.1% | 0.13% | −0.04 |
| PAHC Phibro Animal Health Corp. Class A | Reduce -44.4% | 0.05% | −0.04 |
| MRC MRC Global Inc. | Reduce -8.2% | 0.21% | −0.04 |
| UBS UBS Group AG-Reg | Reduce -0.8% | 2.75% | −0.04 |
| VREX Varex Imaging Corp. | Reduce -0.3% | 0.15% | −0.04 |
| CNO Cno Financial Group Inc. | Reduce -19.3% | 0.37% | −0.03 |
| HOFT Hooker Furnishings Corp. | Reduce -0.5% | 0.05% | −0.02 |
| WBS Webster Financial Corp. | Reduce -0.7% | 0.29% | −0.01 |
| FMC FMC Corp. | Reduce -2.9% | 0.08% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -24.6% | 0.02% | −0.01 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -12.2% | 0.10% | −0.01 |
| FITB Fifth Third Bancorp | Reduce -3.2% | 0.13% | −0.01 |
| SCS Steelcase Inc. Class A | Reduce -0.2% | 0.21% | −0.01 |
| SNV Synovus Financial Corp. | Reduce -1.9% | 0.11% | −0.01 |
| ABM Abm Industries Inc. | Reduce -0.2% | 0.14% | −0.01 |
| COLB Columbia Banking System Inc. | Reduce -0.6% | 0.12% | −0.01 |
| KEY Keycorp | Reduce -2.6% | 0.09% | −0.01 |
| ASB Associated Banc-Corp. | Reduce -0.6% | 0.14% | −0.01 |
| MMI Marcus & Millichap Inc. | Reduce -0.0% | 0.07% | −0.01 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -73.9% | 0.00% | −0.01 |
| SSL Sasol Ltd.-Sponsored ADR | Sold out | 0.00% | −0.01 |
| CMA Comerica Inc. | Reduce -2.6% | 0.09% | −0.00 |
| BIDU Baidu Inc. - Spon ADR | Reduce -13.5% | 0.09% | −0.00 |
| ONB Old National Bancorp | Reduce -1.4% | 0.21% | −0.00 |
| UVSP Univest Financial Corp. | Reduce -0.5% | 0.11% | −0.00 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.00 |
| BDC Belden Inc. | Sold out | 0.00% | −0.00 |
| DIS The Walt Disney Co. | Reduce -60.9% | 0.00% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| BAX Baxter International Inc. | Add +9.3% | 4.39% | +1.06 |
| DG Dollar General Corp. | Add +8.5% | 3.92% | +0.88 |
| TSN Tyson Foods Inc. Class A | Add +10.6% | 2.96% | +0.61 |
| DOW Dow Inc. | Add +32.8% | 3.04% | +0.48 |
| HUM Humana Inc. | Add +6.1% | 3.54% | +0.42 |
| CRBG Corebridge Financial Inc. | Add +73.6% | 0.89% | +0.41 |
| MDT Medtronic PLC | Add +2.1% | 2.63% | +0.40 |
| PPG PPG Industries Inc. | New | 0.37% | +0.37 |
| BMY Bristol-Myers Squibb Co. | Add +1.2% | 2.87% | +0.31 |
| FMS Fresenius Medical Care-ADR | Add +0.6% | 1.34% | +0.16 |
| SHEL Shell PLC-ADR | Add +0.4% | 0.92% | +0.16 |
| LKQ LKQ Corp. | New | 0.15% | +0.15 |
| NOV Nov Inc. | Add +0.3% | 2.21% | +0.15 |
| HCA HCA Healthcare Inc. | New | 0.14% | +0.14 |
| TGT Target Corp. | New | 0.13% | +0.13 |
| GPC Genuine Parts Co. | New | 0.13% | +0.13 |
| KSPI JSC Kaspi.kz ADR | Add +27.2% | 0.46% | +0.10 |
| NVST Envista Holdings Corp. | Add +160.7% | 0.14% | +0.08 |
| AAP Advance Auto Parts Inc. | Add +31.8% | 0.59% | +0.06 |
| ELV Elevance Health Inc. | Add +3.6% | 0.31% | +0.06 |
| SWKS Skyworks Solutions Inc. | Add +37.9% | 1.75% | +0.05 |
| PLOW Douglas Dynamics Inc. | Add +35.4% | 0.18% | +0.05 |
| SCSC Scansource Inc. | Add +132.8% | 0.11% | +0.05 |
| AMWD American Woodmark Corp. | Add +71.7% | 0.17% | +0.04 |
| XOM Exxon Mobil Corp. | Add +3.2% | 0.26% | +0.04 |
| AIG American International Group | Add +2.6% | 0.15% | +0.03 |
| TEL Te Connectivity PLC | Add +1.1% | 1.22% | +0.03 |
| ABEV Ambev SA-ADR | Add +0.0% | 0.11% | +0.03 |
| JNJ Johnson & Johnson | Add +3.0% | 0.14% | +0.02 |
| GD General Dynamics Corp. | Add +2.9% | 0.27% | +0.02 |
| KOP Koppers Holdings Inc. | Add +34.4% | 0.12% | +0.02 |
| VOYA Voya Financial Inc. | Add +0.9% | 0.85% | +0.02 |
| HDB HDFC Bank Ltd.-ADR | Add +0.6% | 0.12% | +0.01 |
| CBRE CBRE Group Inc. Class A | Add +2.1% | 0.18% | +0.01 |
| RHI Robert Half Inc. | Add +29.2% | 0.25% | +0.01 |
| MHK Mohawk Industries Inc. | Add +2.5% | 0.44% | +0.00 |
| WAB Wabtec Corp. | Add +3.4% | 0.22% | +0.00 |
| KB KB Financial Group Inc.-ADR | Add +29.3% | 0.01% | +0.00 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +10.0% | 0.01% | +0.00 |
| INTC Intel Corp. | New | 0.00% | +0.00 |
| SNY Sanofi-ADR | New | 0.00% | +0.00 |
| DFS Discover Financial Services | New | 0.00% | +0.00 |
| EBAY eBay Inc. | New | 0.00% | +0.00 |
| EQNR Equinor ASA-Spon ADR | New | 0.00% | +0.00 |
| CRUS Cirrus Logic Inc. | New | 0.00% | +0.00 |
| GS Goldman Sachs Group Inc. | Add +2.4% | 0.26% | +0.00 |
| SHG Shinhan Financial Group-ADR | Add +0.4% | 0.12% | +0.00 |
| PHG Koninklijke Philips NVR- NY | Add +14.8% | 0.00% | +0.00 |
| SMFG Sumitomo Mitsui-Spons ADR | Add +12.8% | 0.00% | +0.00 |
| LDOS Leidos Holdings Inc. | Add +3.5% | 0.11% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 161 | $34.1B | MGA, HUM, BAX, CVS, DG |
| Q1 2026 | 158 | $30.8B | MGA, CTSH, TSN, BAX, BMY |
| Q4 2025 | 157 | $33.4B | MGA, CTSH, DG, BAX, C |
| Q3 2025 | 154 | $30.9B | MGA, BAX, C, DG, CVS |
| Q2 2025 | 152 | $30.8B | MGA, CTSH, DG, BAX, C |
| Q1 2025 | 146 | $28.6B | MGA, CTSH, BAX, CVS, DG |
| Q4 2024 | 152 | $29.4B | MGA, CTSH, COF, BAX, WFC |
| Q3 2024 | 157 | $31.0B | MGA, CTSH, BAX, COF, DOW |
| Q2 2024 | 160 | $28.4B | CTSH, MGA, BAX, DOW, C |
| Q1 2024 | 159 | $29.1B | MGA, CTSH, COF, DOW, BAX |