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Pzena Investment Management

Q3 2022 13F · by Richard Pzena, CIO

As of
Sep 30, 2022
Filed
Nov 14, 2022
US stock
$20.1B · prev $22.3B
Positions
175 · prev 168
Options notional
$0
Documents
1· 1 amendment

Picture99.8% US stock

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

  • US stock listed on a US exchange 99.8%
  • Foreign stock not listed in the US 0.2%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves134 since the prior filing

The book

Diversified · behaves like 47 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 13% a year, about 7.7 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions20% of US stock

  1. GE GE Aerospace added+0.51 pp added+0.514.2%
  2. LEA Lear Corporation added+0.44 pp added+0.444.1%
  3. CTSH Cognizant Technology Solutions added−0.09 pp added−0.094.1%
  4. EIX Edison International trimmed−0.18 pp trimmed−0.183.8%
  5. WAB Wabtec Inc. trimmed+0.06 pp trimmed+0.063.6%

Revealed late, restated

restated 0 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Nov 14, 2022 ↗

Positions175 in this filing · 4 exited

GEGE Aerospace4.23%13,761,615$852Madded+6%+0.51 pp5 q
LEALear Corporation4.08%6,864,149$822Madded+6%+0.44 pp16 q
CTSHCognizant Technology Solutions4.07%14,254,984$819Madded+4%−0.09 pp31 q
EIXEdison International3.77%13,418,302$759Mtrimmed−4%−0.18 pp31 q
WABWabtec Inc.3.58%8,869,673$722Mtrimmed−7%+0.06 pp15 q
WFCWells Fargo & Co.3.46%17,335,603$697Madded+2%+0.48 pp38 q
CCitigroup Inc.3.16%15,283,512$637Mtrimmed−0%0.00 pp38 q
NRGNRG Energy, Inc.3.16%16,604,637$635Madded0%+0.33 pp10 q
EQHEquitable Holdings, Inc.2.99%22,868,511$603Madded+3%+0.40 pp11 q
MCKMcKesson Corporation2.90%1,721,059$585Mtrimmed−29%−0.66 pp24 q
NOVNOV Inc.2.84%35,321,478$572Mtrimmed−4%+0.05 pp18 q
NWLNewell Brands Inc.2.69%38,954,635$541Madded+4%−0.51 pp18 q
AIGAmerican International Group, Inc.2.55%10,801,992$513Madded+1%+0.10 pp38 q
SSNCSS&C Technologies Inc2.53%10,688,624$510Madded+20%+0.21 pp6 q
COFCapital One Financial2.45%5,355,282$494Madded+11%+0.19 pp25 q
DOXAmdocs Limited2.22%5,620,781$447Mtrimmed−11%−0.15 pp24 q
HALHalliburton Company1.91%15,621,179$385Mtrimmed−6%−0.43 pp27 q
HPEHewlett Packard Enterprise Company1.80%30,278,726$363Mtrimmed−6%−0.10 pp28 q
GILGildan Activewear Inc.1.71%12,158,934$344Mtrimmed−3%+0.09 pp16 q
AVTAvnet, Inc.1.68%9,340,785$337Mtrimmed−13%−0.38 pp38 q
DOWDow Inc.1.64%7,511,122$330Madded+20%+0.19 pp11 q
PVHPVH Corp.1.64%7,374,786$330Mtrimmed−7%−0.38 pp15 q
AXSAxis Capital Holders Limited1.45%5,922,661$291Mtrimmed−13%−0.28 pp38 q
METMetLife, Inc.1.43%4,749,119$289Mtrimmed−6%+0.01 pp38 q
BMYBristol-Myers Squibb Co.1.41%3,992,131$284Mtrimmed−4%−0.03 pp13 q
TCOMTrip.com Group Limited1.38%10,176,767$278Madded+4%+0.18 pp10 q
BACBank of America Corporation1.36%9,065,603$274Mtrimmed−1%+0.08 pp38 q
VOYAVoya Financial, Inc.1.35%4,493,552$272Mtrimmed−4%+0.10 pp34 q
SKAASkechers USA Inc-cl A1.26%8,009,941$254Mtrimmed−0%−0.02 pp7 q
FTITechnipFMC plc1.11%26,367,730$223Madded0%+0.32 pp23 q
JPMJPMorgan Chase & Co.0.99%1,912,478$200Mtrimmed−1%+0.01 pp38 q
MHKMohawk Industries, Inc.0.92%2,027,569$185Mtrimmed−2%−0.23 pp15 q
FMSFresenius Medical Care AG0.91%13,123,177$184Mtrimmed−0%−0.56 pp5 q
CAHCardinal Health, Inc.0.90%2,730,755$182Mtrimmed−6%+0.22 pp23 q
XOMExxon Mobil Corp0.90%2,064,686$180Mtrimmed−34%−0.30 pp38 q
BKNGBooking Holdings Inc.0.86%105,210$173Madded+19%+0.17 pp9 q
GSGoldman Sachs Group Inc.0.83%566,996$166Mtrimmed−6%+0.03 pp38 q
SHELShell plc0.71%2,876,466$143Mtrimmed−3%+0.02 pp3 q
TEXTerex Corporation0.64%4,336,393$129Mtrimmed−3%+0.09 pp36 q
ORCLOracle Corp0.63%2,071,981$127Mtrimmed−13%−0.11 pp38 q
PFEPfizer Inc.0.62%2,869,352$126Mtrimmed−3%−0.08 pp32 q
FLEXFlex Ltd.0.62%7,485,298$125Mtrimmed−4%+0.11 pp37 q
CNOCNO Financial Group, Inc.0.61%6,865,865$123Mtrimmed−1%+0.05 pp15 q
OLNOlin Corp.0.58%2,725,765$117Mtrimmed−1%+0.01 pp12 q
CIThe Cigna Group0.57%415,595$115Mtrimmed−3%+0.06 pp16 q
AMGNAmgen Inc0.56%499,532$113Mtrimmed−4%−0.01 pp25 q
JNJJohnson & Johnson0.52%635,344$104Mtrimmed−0%+0.01 pp5 q
AXTAAxalta Coating Systems Ltd.0.51%4,851,965$102Mtrimmed−4%+0.01 pp3 q
WEDWebster Financial Corp0.50%2,248,951$102Mtrimmed−1%+0.07 pp38 q
GAPThe Gap, Inc.0.48%11,738,163$96Madded+17%+0.11 pp9 q
BIDUBaidu, Inc.0.44%749,783$88Madded+2%−0.05 pp23 q
ELVElevance Health, Inc.0.43%191,992$87Mtrimmed−0%+0.01 pp5 q
BDCBelden Inc.0.40%1,329,429$80Mtrimmed−27%−0.03 pp11 q
JELDJELD-WEN Holding, Inc.0.38%8,796,109$77Mtrimmed−1%−0.20 pp23 q
ASBAssociated Banc-Corp0.37%3,683,113$74Mtrimmed−3%+0.06 pp35 q
GDGeneral Dynamics Corporation0.36%345,499$73Madded0%+0.02 pp5 q
UBSUBS Group AG0.36%4,931,417$72Mtrimmed−3%−0.01 pp32 q
ONBOld National Bancorp0.35%4,308,087$71Mtrimmed−3%+0.05 pp3 q
EPACEnerpac Tool Group Corp.0.34%3,872,245$69Mtrimmed−1%+0.01 pp38 q
DANDana Incorporated0.33%5,727,040$65Mtrimmed−1%−0.04 pp12 q
RFRegions Financial Corp.0.33%3,332,162$67Mtrimmed−7%+0.03 pp38 q
MSMorgan Stanley0.30%763,513$60Mtrimmed−2%+0.03 pp38 q
GJBSteelcase Inc-cl A0.30%9,254,046$60Mtrimmed−1%−0.15 pp20 q
OECOrion S.A.0.30%4,537,313$61Madded+21%+0.04 pp10 q
CLSCelestica, Inc.0.29%6,872,080$58Mtrimmed−2%−0.01 pp18 q
UMPQUmpqua Holdings Corp0.29%3,450,406$59Mtrimmed−2%+0.03 pp11 q
MTZMasTec, Inc.0.28%898,809$57Mtrimmed−2%−0.01 pp8 q
RGAReinsurance Group of America, Incorporated0.28%445,088$56Mtrimmed−4%+0.04 pp9 q
KEYKeyCorp0.27%3,381,191$54Madded+20%+0.05 pp38 q
WSFSWSFS Financial Corp0.26%1,136,976$53Mtrimmed−4%+0.05 pp38 q
DRHDiamondrock Hospitality Company0.24%6,489,126$49Madded+1%0.00 pp38 q
CBRECbre Group, Inc.0.23%675,139$46Madded+86%+0.11 pp5 q
FITBFifth Third Bancorp0.22%1,375,531$44Mheld—38 q
REVGREV Group, Inc.0.22%3,995,701$44Mtrimmed−2%+0.02 pp17 q
BAPCredicorp LTD0.22%363,705$45Mnew+0.22 ppnew
CLGGms Inc0.21%1,052,659$42Mtrimmed−2%0.00 pp2 q
HOPEHope Bancorp, Inc.0.21%3,301,923$42Mtrimmed−1%0.00 pp25 q
JNPJuniper Networks Inc0.21%1,624,538$42Mtrimmed−0%0.00 pp16 q
SCSCScansource Inc0.21%1,588,276$42Mtrimmed−2%−0.02 pp27 q
SPBSpectrum Brands Holdings, Inc.0.21%1,059,656$41Mtrimmed−0%−0.18 pp15 q
TRSTrimas Corporation0.21%1,679,466$42Mtrimmed−2%0.00 pp33 q
TBITrueblue, Inc.0.21%2,229,983$43Madded+24%+0.07 pp9 q
37MMrc Global Inc0.20%5,479,174$39Mtrimmed−0%−0.05 pp7 q
USNAUSANA Health Sciences Inc0.20%721,535$40Mtrimmed−1%−0.04 pp5 q
UVSPUnivest Financial Corporation0.20%1,696,998$40Mtrimmed−1%+0.01 pp11 q
unresolvedAmerican Woodmark Corporation0.19%864,396$38Mtrimmed−1%+0.01 pp4 q
AELAmerican Equity Investment Life Holding Company0.18%971,596$36Mtrimmed−44%−0.11 pp27 q
IVZInvesco LTD0.18%2,685,142$37Madded0%−0.01 pp38 q
MSMMSC Industrial Direct Co., Inc. Class A0.17%457,692$33Mheld—12 q
UVVUniversal Corporation0.17%748,268$34Mtrimmed−9%−0.05 pp30 q
IBNICICI Bank Limited0.16%1,582,278$33Mtrimmed−8%+0.02 pp19 q
DOORMasonite International Corp0.16%460,157$33Mnew+0.16 ppnew
HSICHenry Schein Inc0.16%504,938$33Mheld—3 q
TXTTextron, Inc.0.16%546,675$32Mtrimmed−18%−0.02 pp9 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.0.15%446,405$31Madded+28%+0.02 pp37 q
ADNTAdient plc0.15%1,095,760$30Mnew+0.15 ppnew
ABEVAmbev S.a.0.14%9,820,624$28Madded+4%+0.03 pp9 q
MPAAMotorcar Parts of America, Inc.0.14%1,836,923$28Mtrimmed−0%+0.03 pp16 q
PAHCPhibro Animal Health Corporation Class A0.13%1,921,723$26Mtrimmed−1%−0.04 pp8 q
RRyder System, Inc.0.13%341,544$26Mtrimmed−66%−0.19 pp21 q
VREXVarex Imaging Corporation0.13%1,248,801$26Mtrimmed−4%+0.01 pp16 q
CSCOCisco Systems, Inc. (DE)0.12%588,508$24Mtrimmed−1%+0.01 pp38 q
GLGlobe Life Inc.0.12%241,670$24Mheld—38 q
IPGThe Interpublic Group of Companies, Inc.0.12%938,922$24Mtrimmed−5%0.00 pp38 q
MOG.AMoog Inc.0.12%338,598$24Mtrimmed−0%0.00 pp9 q
AGIIArgo Group International0.12%1,285,419$25Mtrimmed−0%−0.09 pp38 q
ARWArrow Electronics, Inc.0.11%233,547$22Mheld—35 q
HOFTHooker Furnishings Corporation0.11%1,626,610$22Madded+9%+0.01 pp13 q
MDUMDU Resources Group, Inc.0.11%781,895$21Mnew+0.11 ppnew
SMCISuper Micro Computer, Inc.0.11%396,954$22Mtrimmed−65%−0.09 pp15 q
GGenpact Limited0.11%505,174$22Mheld—31 q
FNFFidelity National Financial, Inc.0.08%424,277$15Mnew+0.08 ppnew
SHGShinhan Financial Group Co Ltd0.08%727,416$17Madded+1%−0.01 pp36 q
VNOVornado Realty Trust0.08%717,193$17Madded+51%+0.02 pp5 q
THNPYTechnip Energies S/0.07%1,236,155$14Mheld—7 q
VFCV.F. Corporation0.07%458,387$14Mnew+0.07 ppnew
ETREntergy Corporation0.06%110,570$11Mtrimmed0%0.00 pp38 q
SNASnap-on Incorporated0.06%56,187$11Mheld—19 q
KOPKoppers Holdings, Inc.0.04%433,700$9Mnew+0.04 ppnew
VZVerizon Communications0.04%229,953$9Mheld—16 q
BABAAlibaba Group Holding Limited0.02%39,184$3Mheld—5 q
CIGCompanhia Energetica De Minas Gerais-CEMIG0.02%1,742,473$4Mheld—11 q
GXYYYGalaxy Entmt Grp U/0.02%107,659$3Mheld—10 q
HNHAYHon Hai Precisn 144A0.02%596,073$4Mheld—16 q
PKXPOSCO Holdings Inc.0.02%84,898$3Mtrimmed−91%−0.17 pp27 q
SSNHZSamsung Elec 144A S/GDR0.02%4,027$4Madded+48%+0.01 pp17 q
BKRBaker Hughes Company0.01%54,254$1Mtrimmed−97%−0.23 pp21 q
CICHYChina Constr Bk UNSP/0.01%123,360$1Mheld—17 q
HYUAHyundai Motor-gdr0.01%26,847$2Mheld—17 q
ITUBItau Unibanco Holding S.A.0.01%343,744$2Mheld—8 q
KBKB Financial Group Inc0.01%33,522$1Mheld—17 q
LNVGYLenovo Group Ltd S/0.01%107,054$1Mtrimmed−0%0.00 pp17 q
PCFBYPacific Basin Shp UNS/0.01%313,015$2Mheld—17 q
SSLSasol Limited0.01%134,287$2Mheld—17 q
SCBFYStandard Chrtrd UNSP/0.01%216,586$3Mheld—12 q
WLMIYWilmar Intl Ltd UNSP/0.01%86,162$2Mtrimmed−0%0.00 pp17 q
CORCencora, Inc.0.00%3,878$525,000held—16 q
BCSBarclays PLC0.00%56,305$360,000added+2%0.00 pp4 q
BIIBBiogen Inc.0.00%2,384$637,000held—3 q
CACICaci International Cla0.00%940$245,000added+23%0.00 pp2 q
unresolvedCez As Unspon ADR0.00%48,389$830,000trimmed−17%−0.01 pp17 q
CMCSAComcast Corp0.00%11,510$338,000held—2 q
DELLDell Technologies Inc.0.00%7,618$260,000held—4 q
DNFGYDongfeng Motor Grp-h-uns ADR0.00%25,144$673,000held—17 q
EXELExelixis Inc0.00%20,669$324,000held—3 q
METAMeta Platforms, Inc. Class A0.00%3,378$458,000held—7 q
FFord Motor Company0.00%14,961$168,000held—32 q
HNHPFHon Hai Precson S/GDR New0.00%23,319$148,000held—13 q
HUMHumana Inc.0.00%844$410,000held—5 q
PPLIPeople Incorporated0.00%7,324$406,000new0.00 ppnew
IPGPIPG Photonics Corporation0.00%4,192$354,000held—3 q
INTCIntel Corp0.00%10,632$274,000held—7 q
LPLALPL Financial Holdings Inc.0.00%2,072$453,000held—4 q
LRCXLam Research Corp0.00%879$322,000held—4 q
LSTRLandstar System Inc0.00%1,549$224,000new0.00 ppnew
MEDPMedpace Holdings, Inc.0.00%3,870$608,000trimmed−10%0.00 pp2 q
MRKMerck & Co., Inc.0.00%6,425$553,000trimmed−10%0.00 pp7 q
FRACKeane Group, Inc.0.00%22,331$165,000trimmed−95%−0.02 pp12 q
NOKNokia Corporation0.00%114,106$487,000held—6 q
LUKOYPjsc Lukoil S/0.00%45,362$0held—24 q
PLTKPlaytika Holding Corp.0.00%23,178$218,000added+2%0.00 pp3 q
QRVOQorvo, Inc.0.00%4,245$337,000held—6 q
DGXQuest Diagnostics Inc.0.00%1,966$241,000held—3 q
REGNRegeneron Pharmaceuticals Inc0.00%794$547,000trimmed−29%0.00 pp7 q
RNRTYReunert Ltd UNSP/0.00%127,975$617,000held—17 q
unresolvedSiam Commercial Bank Public Company Ltd Unspon ADR0.00%180,465$659,000held—17 q
SIRISirius XM Holdings, Inc0.00%20,715$118,000held—3 q
SWKSSkyworks Solutions Inc0.00%3,342$285,000added+4%0.00 pp3 q
TSCDYTesco PLC S/0.00%84,268$577,000held—3 q
VWAPYVolkswagen AG Pfd UNS/0.00%42,703$520,000held—3 q
VTKLYVtech Holdings UNSP/0.00%139,730$789,000held—6 q
WSMWilliams-Sonoma, Inc.0.00%2,718$320,000trimmed−18%0.00 pp3 q
Latam Finance Ltdconvertible0.00%1,000,000$971,000new0.00 ppnew
Valaris Ltdconvertible0.00%1,000,000$979,000new0.00 ppnew
ITRNIturan Location and Control Ltd.0.00%26,625$621,000held—10 q
ANAutoNation, Inc.—−1,882—exited0.00 pp—
DHID.R. Horton Inc.—−3,981—exited0.00 pp—
HMCHonda Motor Co., Ltd.—−9,011—exited0.00 pp—
MURMurphy Oil Corp.—−8,444—exited0.00 pp—

Source

Form
13F-HR/A
Reading
43 defects · 3 unresolved
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet
  • The filing disagrees with its own cover page — cover page declares 0 entries; 181 parsed, value total matches
  • A security outside the official 13F list — CUSIP 157214305 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 168919108 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 257738203 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 36318L203 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 438090805 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 438090888 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 449187707 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 526250105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 69343P105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 69402P103 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 76131U105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 796050888 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 825715105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 853254100 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 87854Y109 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 881575401 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 928662501 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 928929207 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 971433107 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP G53770AC0 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP G9460GAA9 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 157214305 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 168919108 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 257738203 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 36318L203 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 438090805 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 438090888 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 449187707 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 526250105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 69343P105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 69402P103 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 76131U105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 796050888 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 825715105 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 853254100 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 87854Y109 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 881575401 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 928662501 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 928929207 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP 971433107 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP G53770AC0 not on the Official 13(f) List for 2022-09-30
  • A security outside the official 13F list — CUSIP G9460GAA9 not on the Official 13(f) List for 2022-09-30