§ 13F · FUND PROFILE
PZENA INVESTMENT MANAGEMENT LLC.
Deep value, classic Graham-Dodd
AUM · $30752.3T (13F)Positions · 184Turnover · 89% · Q4Filed · Feb 6, 2026
CONCENTRATION
39%
Top 10 holdings
NEW BUYS
+12
+$296.8T deployed
EXITS
0
No exits
SECTOR SHIFT
HEALTH CARE → TECHNOLOGY
-2pp · +2pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 6, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | MGA | MAGNA INTL INC | 28.78M | $2105.5T | 6.3% | ±0% |
| 2 | CTSH | COGNIZANT TECHNOLOGY SOLUTIO | 17.45M | $1448.2T | 4.3% | ±0% |
| 3 | DG | DOLLAR GEN CORP NEW | 10.55M | $1400.6T | 4.2% | −8% |
| 4 | BAX | BAXTER INTL INC | 68.96M | $1317.9T | 3.9% | +22% |
| 5 | C | CITIGROUP INC | 10.44M | $1218.2T | 3.6% | — |
| 6 | CVS | CVS HEALTH CORP | 15.29M | $1213.1T | 3.6% | −2% |
| 7 | COF | CAPITAL ONE FINL CORP | 4.94M | $1198.0T | 3.6% | −1% |
| 8 | UBS | UBS GROUP AG | 29.53M | $1091.5T | 3.3% | ±0% |
| 9 | HUM | HUMANA INC | 3.99M | $1023.1T | 3.1% | +1% |
| 10 | DOX | AMDOCS LTD | 11.90M | $958.4T | 2.9% | +84% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other42.0% (±0)
Health Care15.8% (−1pp)
Financial Services14.2% (±0)
Banking10.5% (±0)
Auto Components9.2% (±0)
Technology8.3% (+2pp)
§ 03 · THE PZENA SIGNAL
AC read
PZENA INVESTMENT MANAGEMENT LLC is a Deep Value fund managing $30752340.9 trillion in assets. The fund runs a portfolio of 184 positions, broad diversification across holdings, with the top 10 accounting for 39%. Trading activity is aggressive at 89% quarterly turnover, with 12 new positions and 0 exits last quarter. Top sector allocations: Other (42%), Health Care (16%), Financial Services (14%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+12 buys · −0 exits · 157 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed