Pzena Investment Management

Q2 2023 13F · by Caroline Cai, CEO

As of: Jun 30, 2023
Filed: Aug 4, 2023
US stock: $23.4B · prev $23.2B
Positions: 161 · prev 163
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%

Moves157 since the prior filing

+5.0 pp in · −5.0 pp out

New 10 +0.32 pp
Added 43 +4.70 pp
Trimmed 92 −4.72 pp
Exited 12 −0.29 pp

The book

Diversified · behaves like 47 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 22% a year, about 4.6 years per position

Low
Moderate
High

Top 5 positions20% of US stock

Positions161 in this filing · 12 exited


CTSHCognizant Technology Solutions	4.91%	17,647,121	$1.2B	trimmed−0%	+0.27 pp	34 q
LEALear Corporation	4.03%	6,582,839	$945M	trimmed−2%	−0.03 pp	19 q
EIXEdison International	3.89%	13,119,628	$911M	trimmed−6%	−0.37 pp	34 q
SSNCSS&C Technologies Inc	3.63%	14,031,514	$850M	added0%	+0.22 pp	9 q
WABWabtec Inc.	3.54%	7,560,248	$829M	trimmed−2%	+0.17 pp	18 q
DOWDow Inc.	3.38%	14,883,954	$793M	trimmed−0%	−0.14 pp	14 q
COFCapital One Financial	3.28%	7,041,191	$770M	added+1%	+0.38 pp	28 q
WFCWells Fargo & Co.	3.26%	17,933,758	$765M	trimmed−3%	+0.27 pp	41 q
CCitigroup Inc.	3.17%	16,140,478	$743M	trimmed−2%	−0.15 pp	41 q
GEGE Aerospace	3.14%	6,697,314	$736M	trimmed−45%	−1.85 pp	8 q
EQHEquitable Holdings, Inc.	2.83%	24,452,076	$664M	added+4%	+0.26 pp	14 q
NOVNOV Inc.	2.52%	36,790,723	$590M	added+25%	+0.16 pp	21 q
PVHPVH Corp.	2.52%	6,964,608	$592M	trimmed−4%	−0.26 pp	18 q
NWLNewell Brands Inc.	1.95%	52,422,875	$456M	added+3%	−0.78 pp	21 q
DOXAmdocs Limited	1.95%	4,623,123	$457M	trimmed−3%	−0.03 pp	27 q
CHTRCharter Comm Inc Del CL A New	1.89%	1,205,824	$443M	added×2.0	+0.98 pp	2 q
AVTAvnet, Inc.	1.87%	8,688,026	$438M	trimmed−5%	+0.09 pp	41 q
AIGAmerican International Group, Inc.	1.86%	7,567,761	$435M	trimmed−21%	−0.21 pp	41 q
BACBank of America Corporation	1.85%	15,094,260	$433M	added+58%	+0.67 pp	41 q
FMSFresenius Medical Care AG	1.70%	16,672,581	$399M	trimmed−17%	−0.14 pp	8 q
GILGildan Activewear Inc.	1.49%	10,827,937	$349M	trimmed−3%	−0.11 pp	19 q
MGAMagna International	1.49%	6,201,580	$350M	added+36%	+0.44 pp	3 q
0VQJLTe Connectivity Ltd	1.39%	2,333,097	$327M	added+28%	+0.35 pp	2 q
BKNGBooking Holdings Inc.	1.33%	115,869	$313M	trimmed−21%	−0.34 pp	12 q
BMYBristol-Myers Squibb Co.	1.18%	4,327,569	$277M	trimmed−4%	−0.17 pp	16 q
VOYAVoya Financial, Inc.	1.17%	3,816,407	$274M	trimmed−2%	−0.04 pp	37 q
MCKMcKesson Corporation	1.13%	617,851	$264M	trimmed−4%	+0.14 pp	27 q
JPMJPMorgan Chase & Co.	1.12%	1,798,712	$262M	trimmed−3%	+0.08 pp	41 q
METMetLife, Inc.	1.12%	4,634,543	$262M	added+11%	+0.07 pp	41 q
AXSAxis Capital Holders Limited	1.08%	4,703,828	$253M	trimmed−8%	−0.13 pp	41 q
HALHalliburton Company	1.04%	7,407,122	$244M	added+3%	+0.06 pp	30 q
MDTMedtronic plc	1.01%	2,693,183	$237M	added×2.3	+0.60 pp	2 q
SHELShell plc	1.00%	3,878,156	$234M	added+57%	+0.39 pp	6 q
TCOMTrip.com Group Limited	0.98%	6,573,309	$230M	trimmed−17%	−0.30 pp	13 q
ORCLOracle Corp	0.95%	1,879,967	$224M	trimmed−8%	+0.13 pp	41 q
GEHCGE HealthCare Technologies Inc.	0.89%	2,573,162	$209M	trimmed−29%	−0.39 pp	2 q
MHKMohawk Industries, Inc.	0.89%	2,013,534	$208M	trimmed−1%	+0.01 pp	18 q
SKAASkechers USA Inc-cl A	0.89%	3,982,377	$210M	trimmed−36%	−0.38 pp	10 q
HPEHewlett Packard Enterprise Company	0.79%	11,062,464	$186M	trimmed−15%	−0.11 pp	31 q
CAHCardinal Health, Inc.	0.76%	1,886,489	$178M	trimmed−11%	+0.07 pp	26 q
CNOCNO Financial Group, Inc.	0.74%	7,286,510	$172M	trimmed−3%	+0.02 pp	18 q
GSGoldman Sachs Group Inc.	0.69%	499,119	$161M	trimmed−3%	−0.04 pp	41 q
CIThe Cigna Group	0.67%	559,843	$157M	trimmed−1%	+0.05 pp	19 q
BAPCredicorp LTD	0.58%	919,653	$136M	added+18%	+0.14 pp	4 q
JELDJELD-WEN Holding, Inc.	0.57%	7,647,393	$134M	trimmed−6%	+0.12 pp	26 q
OLNOlin Corp.	0.56%	2,543,608	$131M	added+2%	−0.04 pp	15 q
TEXTerex Corporation	0.56%	2,197,609	$131M	trimmed−27%	−0.07 pp	39 q
AXTAAxalta Coating Systems Ltd.	0.53%	3,751,956	$123M	trimmed−15%	−0.05 pp	6 q
UBSUBS Group AG	0.53%	6,140,954	$124M	added+62%	+0.18 pp	35 q
AMGNAmgen Inc	0.48%	505,353	$112M	trimmed−2%	−0.06 pp	28 q
JNJJohnson & Johnson	0.45%	634,340	$105M	added0%	+0.03 pp	8 q
PFEPfizer Inc.	0.43%	2,724,611	$100M	trimmed−1%	−0.05 pp	35 q
XOMExxon Mobil Corp	0.41%	905,095	$97M	held	—	41 q
GAPThe Gap, Inc.	0.39%	10,165,235	$91M	trimmed−4%	−0.07 pp	12 q
ELVElevance Health, Inc.	0.37%	192,828	$86M	added+1%	−0.01 pp	8 q
SPBSpectrum Brands Holdings, Inc.	0.37%	1,112,156	$87M	added+18%	+0.10 pp	18 q
FLEXFlex Ltd.	0.37%	3,160,548	$87M	trimmed−1%	+0.05 pp	40 q
DANDana Incorporated	0.36%	4,941,202	$84M	trimmed−2%	+0.03 pp	15 q
DOORMasonite International Corp	0.35%	804,437	$82M	trimmed−4%	+0.02 pp	4 q
GJBSteelcase Inc-cl A	0.33%	9,925,860	$77M	trimmed−1%	−0.04 pp	23 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.33%	760,562	$77M	trimmed−5%	+0.01 pp	40 q
WEDWebster Financial Corp	0.33%	2,078,417	$78M	trimmed−1%	−0.03 pp	41 q
GDGeneral Dynamics Corporation	0.32%	344,778	$74M	held	—	8 q
37MMrc Global Inc	0.31%	7,162,327	$72M	added+23%	+0.06 pp	10 q
AYIAcuity Inc.	0.30%	433,536	$71M	added×2.1	+0.14 pp	2 q
DRHDiamondrock Hospitality Company	0.30%	8,909,183	$71M	added+45%	+0.08 pp	41 q
CLSCelestica, Inc.	0.29%	4,763,864	$69M	trimmed−18%	−0.03 pp	21 q
REZIResideo Technologies, Inc.	0.29%	3,893,972	$69M	added×4.6	+0.22 pp	2 q
BDCBelden Inc.	0.28%	694,700	$66M	trimmed−17%	−0.03 pp	14 q
TRSTrimas Corporation	0.28%	2,402,742	$66M	trimmed−3%	−0.02 pp	36 q
OECOrion S.A.	0.28%	3,112,989	$66M	trimmed−13%	−0.12 pp	13 q
MSMorgan Stanley	0.27%	750,196	$64M	trimmed−1%	−0.02 pp	41 q
AELAmerican Equity Investment Life Holding Company	0.26%	1,165,769	$61M	trimmed−4%	+0.07 pp	30 q
unresolvedAmerican Woodmark Corporation	0.23%	697,198	$53M	trimmed−24%	+0.02 pp	7 q
CBRECbre Group, Inc.	0.23%	673,274	$54M	added0%	+0.02 pp	8 q
GLGlobe Life Inc.	0.23%	481,479	$53M	added+2%	+0.01 pp	41 q
ONBOld National Bancorp	0.23%	3,836,754	$53M	trimmed−3%	−0.02 pp	6 q
FBINFortune Brands Innovations, Inc.	0.22%	705,504	$51M	trimmed−9%	+0.02 pp	3 q
JNPJuniper Networks Inc	0.22%	1,624,538	$51M	held	—	19 q
CLGGms Inc	0.21%	701,121	$49M	trimmed−26%	−0.03 pp	5 q
SCSCScansource Inc	0.21%	1,683,327	$50M	trimmed−3%	−0.02 pp	30 q
USNAUSANA Health Sciences Inc	0.21%	790,045	$50M	trimmed−3%	−0.01 pp	8 q
ABEVAmbev S.a.	0.20%	14,706,081	$47M	trimmed−9%	0.00 pp	12 q
ASBAssociated Banc-Corp	0.20%	2,950,481	$48M	trimmed−1%	−0.03 pp	38 q
REVGREV Group, Inc.	0.20%	3,484,039	$46M	trimmed−5%	+0.01 pp	20 q
RGAReinsurance Group of America, Incorporated	0.20%	336,086	$47M	trimmed−12%	−0.02 pp	12 q
UVVUniversal Corporation	0.20%	938,871	$47M	trimmed−2%	−0.02 pp	33 q
ADNTAdient plc	0.20%	1,237,568	$47M	trimmed−2%	−0.02 pp	4 q
MSMMSC Industrial Direct Co., Inc. Class A	0.19%	461,966	$44M	added+1%	+0.02 pp	15 q
IVZInvesco LTD	0.19%	2,686,063	$45M	added0%	0.00 pp	41 q
MBCMasterBrand, Inc.	0.18%	3,651,182	$42M	trimmed−3%	+0.05 pp	3 q
RFRegions Financial Corp.	0.18%	2,378,399	$42M	trimmed−1%	−0.01 pp	41 q
TBITrueblue, Inc.	0.18%	2,433,333	$43M	trimmed−5%	−0.02 pp	12 q
FNFFidelity National Financial, Inc.	0.17%	1,104,129	$40M	trimmed−7%	−0.01 pp	4 q
HSICHenry Schein Inc	0.17%	496,972	$40M	added0%	0.00 pp	6 q
WSFSWSFS Financial Corp	0.17%	1,044,970	$39M	trimmed−1%	0.00 pp	41 q
COLBColumbia Banking Systems Inc	0.16%	1,886,045	$38M	added0%	−0.01 pp	2 q
BIDUBaidu, Inc.	0.15%	249,450	$34M	added+1%	−0.01 pp	26 q
FITBFifth Third Bancorp	0.15%	1,361,303	$36M	added+1%	−0.01 pp	41 q
ARWArrow Electronics, Inc.	0.14%	236,971	$34M	added+1%	+0.01 pp	38 q
EPACEnerpac Tool Group Corp.	0.14%	1,175,581	$32M	trimmed−52%	−0.13 pp	41 q
CSCOCisco Systems, Inc. (DE)	0.13%	589,515	$31M	added+1%	0.00 pp	41 q
AGIIArgo Group International	0.13%	1,013,061	$30M	trimmed−39%	−0.08 pp	41 q
HOFTHooker Furnishings Corporation	0.12%	1,499,762	$28M	trimmed−3%	0.00 pp	16 q
IBNICICI Bank Limited	0.12%	1,185,337	$27M	trimmed−14%	−0.01 pp	22 q
PAHCPhibro Animal Health Corporation Class A	0.12%	2,070,549	$28M	trimmed−4%	−0.02 pp	11 q
UVSPUnivest Financial Corporation	0.12%	1,537,767	$28M	trimmed−2%	−0.04 pp	14 q
LDOSLeidos Holdings, Inc.	0.11%	296,813	$26M	new	+0.11 pp	new
VREXVarex Imaging Corporation	0.11%	1,115,429	$26M	trimmed−2%	+0.02 pp	19 q
MTZMasTec, Inc.	0.10%	201,777	$24M	trimmed−63%	−0.12 pp	11 q
SHGShinhan Financial Group Co Ltd	0.10%	857,547	$22M	trimmed−4%	0.00 pp	39 q
BFHBread Financial Holdings, Inc.	0.08%	601,637	$19M	new	+0.08 pp	new
CMAComerica Incorporated	0.08%	433,997	$18M	added+2%	0.00 pp	2 q
TILEInterface Inc	0.08%	2,187,623	$19M	new	+0.08 pp	new
KOPKoppers Holdings, Inc.	0.08%	565,770	$19M	trimmed−2%	−0.01 pp	4 q
GGenpact Limited	0.08%	505,310	$19M	added0%	−0.02 pp	34 q
HOPEHope Bancorp, Inc.	0.07%	2,021,803	$17M	trimmed−18%	−0.03 pp	28 q
KEYKeyCorp	0.07%	1,729,986	$16M	added+1%	−0.02 pp	41 q
MDUMDU Resources Group, Inc.	0.07%	795,335	$17M	added+2%	−0.03 pp	4 q
SNASnap-on Incorporated	0.07%	56,187	$16M	held	—	22 q
SYU1Synovus Financial Corp	0.07%	543,498	$16M	added×2.5	+0.04 pp	2 q
ETREntergy Corporation	0.05%	110,648	$11M	added0%	0.00 pp	41 q
KNFKnife River Corporation	0.04%	198,832	$9M	new	+0.04 pp	new
VZVerizon Communications	0.04%	230,539	$9M	held	—	19 q
BABAAlibaba Group Holding Limited	0.02%	42,741	$4M	trimmed−2%	0.00 pp	8 q
CIGCompanhia Energetica De Minas Gerais-CEMIG	0.02%	1,745,696	$5M	trimmed−2%	0.00 pp	14 q
SCBFYStandard Chrtrd UNSP/	0.02%	242,954	$4M	trimmed−1%	0.00 pp	15 q
ITUBItau Unibanco Holding S.A.	0.01%	285,037	$2M	trimmed−2%	0.00 pp	11 q
KBKB Financial Group Inc	0.01%	34,241	$1M	trimmed−2%	0.00 pp	20 q
unresolvedNatura &CO Hldg S A	0.01%	233,434	$2M	new	+0.01 pp	new
NOKNokia Corporation	0.01%	314,083	$1M	added+9%	0.00 pp	9 q
PKXPOSCO Holdings Inc.	0.01%	37,667	$3M	trimmed−29%	−0.01 pp	30 q
PBR.APetroleo Brasileiro S.A.-Petrobras	0.01%	156,509	$2M	trimmed−2%	0.00 pp	2 q
SSLSasol Limited	0.01%	245,111	$3M	trimmed−2%	0.00 pp	20 q
WLMIYWilmar Intl Ltd UNSP/	0.01%	87,882	$2M	added+2%	0.00 pp	20 q
MTArcelorMittal	0.00%	25,051	$684,894	held	—	3 q
BCSBarclays PLC	0.00%	103,849	$816,253	held	—	7 q
BIIBBiogen Inc.	0.00%	1,618	$460,887	new	0.00 pp	new
CMCSAComcast Corp	0.00%	6,794	$282,291	trimmed−30%	0.00 pp	5 q
EXELExelixis Inc	0.00%	18,316	$350,019	trimmed−37%	0.00 pp	6 q
GILDGilead Sciences Inc	0.00%	5,945	$458,181	added+65%	0.00 pp	2 q
HSBCHSBC Holdings PLC	0.00%	19,835	$785,863	held	—	3 q
INGING Groep N.V.	0.00%	58,060	$782,068	held	—	3 q
INGRIngredion Incorporated	0.00%	4,472	$473,808	trimmed−12%	0.00 pp	3 q
JLLJones Lang LaSalle, Inc.	0.00%	4,630	$721,354	new	0.00 pp	new
PHGKoninklijke Philips N.v.	0.00%	38,189	$828,319	new	0.00 pp	new
LPLALPL Financial Holdings Inc.	0.00%	1,495	$325,058	trimmed−23%	0.00 pp	7 q
99803EURLaboratory Crp Of Amer Hldgs	0.00%	1,160	$279,943	held	—	3 q
MKLMarkel Group Inc.	0.00%	153	$211,627	new	0.00 pp	new
NWGNatWest Group plc	0.00%	50,613	$309,752	held	—	3 q
QRVOQorvo, Inc.	0.00%	3,032	$309,355	held	—	9 q
SEBSeaboard Corporation	0.00%	73	$259,933	trimmed−38%	0.00 pp	3 q
SIRISirius XM Holdings, Inc	0.00%	33,806	$153,141	trimmed−13%	0.00 pp	6 q
SMFGSumitomo Mitsui Financial Group, Inc	0.00%	23,654	$203,424	held	—	3 q
TMUST-Mobile US, Inc.	0.00%	3,238	$449,758	trimmed−8%	0.00 pp	3 q
TRVThe Travelers Companies, Inc.	0.00%	2,626	$456,031	held	—	3 q
UTHRUnited Therapeutics Corp	0.00%	2,074	$457,836	added+22%	0.00 pp	2 q
VODVodafone Group PLC	0.00%	12,387	$117,057	held	—	3 q
BGBunge Global SA	0.00%	3,699	$349,001	held	—	3 q
ICLRIcon Plc	0.00%	826	$206,665	new	0.00 pp	new
ITRNIturan Location and Control Ltd.	0.00%	25,488	$594,890	trimmed−9%	0.00 pp	13 q
MOG.AMoog Inc.	—	−311,180	—	exited	−0.14 pp	—
FTITechnipFMC plc	—	−1,011,773	—	exited	−0.06 pp	—
MPAAMotorcar Parts of America, Inc.	—	−1,491,816	—	exited	−0.05 pp	—
GXYYYGalaxy Entmt Grp U/	—	−127,059	—	exited	−0.02 pp	—
TSCDYTesco PLC S/	—	−161,329	—	exited	−0.01 pp	—
VNOVornado Realty Trust	—	−150,811	—	exited	−0.01 pp	—
CACICaci International Cla	—	−1,529	—	exited	0.00 pp	—
DOCUDocuSign, Inc.	—	−4,697	—	exited	0.00 pp	—
HALOHalozyme Therapeutics, Inc.	—	−9,216	—	exited	0.00 pp	—
HUMHumana Inc.	—	−476	—	exited	0.00 pp	—
INTCIntel Corp	—	−7,359	—	exited	0.00 pp	—
VTKLYVtech Holdings UNSP/	—	−106,324	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 2 unresolved
Accession: 0001140361-23-038068
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A security outside the official 13F list — CUSIP 853254100 not on the Official 13(f) List for 2023-06-30
A security outside the official 13F list — CUSIP 971433107 not on the Official 13(f) List for 2023-06-30

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