Pzena Investment Management

Q2 2013 13F · by Richard Pzena, CIO

As of: Jun 30, 2013
Filed: Aug 9, 2013
US stock: $15.0B
Positions: 122
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves

First filing on record. Nothing to compare against.

The book

Diversified · behaves like 49 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Turnover · first filing on record

Low
Moderate
High

Top 5 positions18% of US stock

unresolved Hewlett Packard Co held held5.4%
unresolved Staples Inc held held3.7%
OMC Omnicom Group Inc. held held3.2%
AIG American International Group, Inc. held held3.1%
unresolved Baker Hughes Inc. held held2.9%

Positions122 in this filing · 0 exited


unresolvedHewlett Packard Co	5.43%	32,922,187	$816M	held	—	new
unresolvedStaples Inc	3.69%	34,969,289	$555M	held	—	new
OMCOmnicom Group Inc.	3.21%	7,662,119	$482M	held	—	new
AIGAmerican International Group, Inc.	3.14%	10,562,975	$472M	held	—	new
unresolvedBaker Hughes Inc.	2.89%	9,425,678	$435M	held	—	new
ORCLOracle Corp	2.88%	14,109,021	$433M	held	—	new
MSFTMicrosoft Corp	2.86%	12,425,297	$429M	held	—	new
BPBP p.l.c.	2.80%	10,087,451	$421M	held	—	new
0VQJLTe Connectivity Ltd	2.72%	8,991,623	$409M	held	—	new
CCitigroup Inc.	2.69%	8,422,933	$404M	held	—	new
RDS.ARoyal Dutch Shell PLC	2.60%	6,113,781	$390M	held	—	new
unresolvedDelphi Automotive PLC	2.45%	7,261,352	$368M	held	—	new
METMetLife, Inc.	2.27%	7,450,433	$341M	held	—	new
MSMorgan Stanley	2.16%	13,271,340	$324M	held	—	new
BACBank of America Corporation	2.13%	24,906,945	$320M	held	—	new
NOCNorthrop Grumman Corp.	2.13%	3,863,605	$320M	held	—	new
unresolvedGoogle Inc.	2.09%	356,851	$314M	held	—	new
JPMJPMorgan Chase & Co.	2.08%	5,917,734	$312M	held	—	new
ETREntergy Corporation	1.87%	4,027,053	$281M	held	—	new
STTState Street Corporation	1.85%	4,266,679	$278M	held	—	new
BDXBecton, Dickinson and Co.	1.82%	2,773,109	$274M	held	—	new
GSGoldman Sachs Group Inc.	1.82%	1,803,875	$273M	held	—	new
unresolvedL-3 Communications Hldgs Inc	1.78%	3,125,479	$268M	held	—	new
XOMExxon Mobil Corp	1.75%	2,916,996	$264M	held	—	new
AXSAxis Capital Holders Limited	1.75%	5,729,802	$262M	held	—	new
PNCPNC Financial Services Group	1.73%	3,568,028	$260M	held	—	new
unresolvedUbs AG	1.68%	14,917,171	$253M	held	—	new
IVZInvesco LTD	1.61%	7,612,102	$242M	held	—	new
PHParker-Hannifin Corporation	1.52%	2,395,634	$229M	held	—	new
99803EURLaboratory Crp Of Amer Hldgs	1.51%	2,268,529	$227M	held	—	new
MASMasco Corporation	1.34%	10,350,879	$202M	held	—	new
unresolvedWillis Group Holdings Public	1.32%	4,881,373	$199M	held	—	new
unresolvedIng U S Inc	1.24%	6,886,227	$186M	held	—	new
unresolvedDell Inc	1.22%	13,767,123	$184M	held	—	new
IPGThe Interpublic Group of Companies, Inc.	1.06%	10,919,784	$159M	held	—	new
BENFranklin Templeton, Inc.	1.01%	1,117,818	$152M	held	—	new
ABTAbbott Laboratories	1.00%	4,322,041	$151M	held	—	new
AVTAvnet, Inc.	0.89%	3,967,050	$133M	held	—	new
ALLThe Allstate Corporation	0.87%	2,715,340	$131M	held	—	new
unresolvedAetna Inc New	0.86%	2,037,266	$129M	held	—	new
WFCWells Fargo & Co.	0.84%	3,065,076	$126M	held	—	new
unresolvedPartnerre Ltd	0.82%	1,358,885	$123M	held	—	new
TAPMolson Coors Beverage Company Class B	0.62%	1,938,575	$93M	held	—	new
CMAComerica Incorporated	0.51%	1,941,726	$77M	held	—	new
KEYKeyCorp	0.51%	6,874,350	$76M	held	—	new
GMGeneral Motors Company	0.50%	2,266,125	$75M	held	—	new
CSCOCisco Systems, Inc. (DE)	0.48%	2,981,950	$72M	held	—	new
9990302DApache Corp	0.46%	825,770	$69M	held	—	new
AIZAssurant, Inc.	0.43%	1,279,272	$65M	held	—	new
unresolvedIngram Micro Inc	0.39%	3,063,929	$58M	held	—	new
unresolvedCigna Corporation	0.36%	743,388	$54M	held	—	new
RFRegions Financial Corp.	0.36%	5,603,243	$53M	held	—	new
unresolvedCon-way Inc	0.33%	1,258,028	$49M	held	—	new
DANDana Incorporated	0.32%	2,496,509	$48M	held	—	new
OCOwens Corning	0.32%	1,217,935	$48M	held	—	new
unresolvedUrs Corp New	0.32%	1,033,565	$49M	held	—	new
AXEAnixter International Inc	0.31%	617,891	$47M	held	—	new
unresolvedHospitality Properties Trust	0.31%	1,747,731	$46M	held	—	new
BRCBrady Corporation	0.30%	1,447,090	$44M	held	—	new
GDGeneral Dynamics Corporation	0.30%	567,200	$44M	held	—	new
WCGWellcare Health Plans, Inc.	0.29%	785,100	$44M	held	—	new
FITBFifth Third Bancorp	0.28%	2,361,350	$43M	held	—	new
unresolvedHospira Inc	0.27%	1,059,750	$41M	held	—	new
KSSKohls Corporation	0.27%	814,225	$41M	held	—	new
DGXQuest Diagnostics Inc.	0.27%	665,375	$40M	held	—	new
unresolvedValassis Communications Inc	0.27%	1,671,086	$41M	held	—	new
DIODDiodes Inc	0.26%	1,506,495	$39M	held	—	new
AGIIArgo Group International	0.26%	932,998	$40M	held	—	new
ATUEnerpac Tool Group Corp.	0.25%	1,140,989	$38M	held	—	new
CWCurtiss-Wright Corp.	0.25%	1,015,649	$38M	held	—	new
unresolvedForest Labs Inc	0.25%	925,100	$38M	held	—	new
unresolvedBbcn Bancorp Inc	0.23%	2,397,838	$34M	held	—	new
unresolvedHarte-hanks Inc.	0.23%	3,936,002	$34M	held	—	new
unresolvedJones Group Inc	0.23%	2,530,682	$35M	held	—	new
PRIPrimerica, Inc.	0.23%	927,301	$35M	held	—	new
unresolvedBancorpsouth Inc	0.21%	1,820,955	$32M	held	—	new
UPBDUpbound Group, Inc.	0.21%	854,754	$32M	held	—	new
unresolvedTcf Financial Corp	0.21%	2,197,265	$31M	held	—	new
unresolvedVca Inc	0.21%	1,190,040	$31M	held	—	new
unresolvedAspen Insurance Holdings Ltd	0.21%	846,833	$31M	held	—	new
unresolvedAeropostale	0.20%	2,182,958	$30M	held	—	new
AELAmerican Equity Investment Life Holding Company	0.20%	1,960,247	$31M	held	—	new
TMKGlobe Life Inc.	0.20%	461,074	$30M	held	—	new
WEDWebster Financial Corp	0.20%	1,156,614	$30M	held	—	new
unresolvedEngility Holdings Inc	0.19%	982,260	$28M	held	—	new
NSITInsight Enterprises Inc	0.19%	1,570,248	$28M	held	—	new
HIGThe Hartford Insurance Group, Inc.	0.18%	856,142	$26M	held	—	new
unresolvedNational Penn Bancshares Inc	0.18%	2,704,323	$27M	held	—	new
unresolvedPhh Corp	0.17%	1,220,813	$25M	held	—	new
TMUST-Mobile US, Inc.	0.17%	1,033,250	$26M	held	—	new
GFFGriffon Corp	0.16%	2,147,087	$24M	held	—	new
MATWMatthews International Corp	0.16%	645,666	$24M	held	—	new
MLKNMillerKnoll, Inc.	0.16%	870,797	$24M	held	—	new
TPCTutor Perini Corporation	0.16%	1,368,450	$25M	held	—	new
MWAMueller Water Products, Inc.	0.15%	3,288,446	$23M	held	—	new
DRHDiamondrock Hospitality Company	0.14%	2,334,442	$22M	held	—	new
HA7Enviri Corp	0.14%	896,674	$21M	held	—	new
LMLegg Mason, Inc.	0.14%	662,510	$21M	held	—	new
SKAASkechers USA Inc-cl A	0.14%	868,209	$21M	held	—	new
unresolvedSynovus Financial Corp	0.14%	7,045,491	$21M	held	—	new
unresolvedApollo Group Inc Class A	0.13%	1,082,185	$19M	held	—	new
unresolvedUnited Stationers Inc	0.13%	588,238	$20M	held	—	new
unresolvedMonster Worldwide Inc	0.12%	3,760,288	$18M	held	—	new
unresolvedProtective Life Corp	0.12%	483,264	$19M	held	—	new
WSFSWSFS Financial Corp	0.12%	350,311	$18M	held	—	new
JAKKJakks Pacific Inc	0.10%	1,371,624	$15M	held	—	new
HIIHuntington Ingalls Industries, Inc.	0.09%	227,160	$13M	held	—	new
CIRCircor International Inc	0.08%	226,862	$12M	held	—	new
ARCARC Document Solutions, Inc.	0.07%	2,602,865	$10M	held	—	new
RNRRenaissanceRe Holdings Ltd.	0.07%	122,011	$11M	held	—	new
ACMAecom	0.05%	247,525	$8M	held	—	new
unresolvedValidus Holdings Ltd	0.04%	154,037	$6M	held	—	new
FBINFortune Brands Innovations, Inc.	0.02%	66,875	$3M	held	—	new
BPOPPopular Inc	0.02%	83,778	$3M	held	—	new
unresolvedSteel Excel Inc	0.02%	85,439	$2M	held	—	new
unresolvedDevry Ed Group Inc	0.01%	71,375	$2M	held	—	new
FMBIFirst Midwest Bancorp Inc/IL	0.01%	128,500	$2M	held	—	new
JNJJohnson & Johnson	0.01%	10,401	$893,000	held	—	new
PGProcter & Gamble Company	0.01%	10,561	$813,000	held	—	new
unresolvedAdvanced Semiconductor E-adr	0.00%	87,200	$354,000	held	—	new
EENI S.p.A.	0.00%	17,000	$698,000	held	—	new
WMTWalmart Inc.	0.00%	8,193	$610,000	held	—	new