§ 13F · FUND PROFILE
PZENA INVESTMENT MANAGEMENT LLC.
Deep value, classic Graham-Dodd
AUM · $34.1B (13F)Positions · 195Turnover · 77% · Q1Filed · Aug 7, 2026
CONCENTRATION
35%
Top 10 holdings
NEW BUYS
+9
+$367M deployed
EXITS
0
No exits
SECTOR SHIFT
FINANCIAL SERVICES → OTHER
-2pp · +4pp
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED AUG 7, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | MGA | MAGNA INTL INC | 23.66M | $2.2B | 6.5% | −6% |
| 2 | HUM | HUMANA INC | 4.33M | $1.7B | 5.0% | −20% |
| 3 | BAX | BAXTER INTL INC | 64.26M | $1.4B | 4.0% | +1% |
| 4 | CVS | CVS HEALTH CORP | 11.58M | $1.2B | 3.5% | −15% |
| 5 | DG | DOLLAR GEN CORP | 10.09M | $1.2B | 3.4% | +48% |
| 6 | SWKS | SKYWORKS SOLUTIONS INC | 15.74M | $1.1B | 3.1% | −1% |
| 7 | CTSH | COGNIZANT TECHNOLOGY SOLUTIO | 26.26M | $1.0B | 3.0% | +31% |
| 8 | BMY | BRISTOL-MYERS SQUIBB CO | 16.78M | $967M | 2.8% | −1% |
| 9 | TSN | TYSON FOODS INC | 16.82M | $963M | 2.8% | −1% |
| 10 | CRBG | COREBRIDGE FINL INC | 33.27M | $953M | 2.8% | +25% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other45.6% (+4pp)
Health Care14.6% (−1pp)
Financial Services12.4% (−2pp)
Banking9.3% (−1pp)
Auto Components9.3% (±0)
Technology8.7% (±0)
§ 03 · THE PZENA SIGNAL
AC read
PZENA INVESTMENT MANAGEMENT LLC is a Deep Value fund managing $34.1 billion in assets. The fund runs a portfolio of 195 positions, broad diversification across holdings, with the top 10 accounting for 35%. Trading activity is aggressive at 77% quarterly turnover, with 9 new positions and 0 exits last quarter. Top sector allocations: Other (46%), Health Care (15%), Financial Services (12%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
3 OF 2 FILINGS MEASURED
Q1 2026
Busy quarter
+9 buys · −0 exits · 139 changed
Q4 2025
Busy quarter
+12 buys · −0 exits · 136 changed
Q3 2025
Busy quarter
+8 buys · −0 exits · 137 changed