Pzena Investment Management

Q2 2024 13F · by Caroline Cai, CEO

As of: Jun 30, 2024
Filed: Aug 2, 2024
US stock: $28.4B · prev $29.1B
Positions: 160 · prev 159
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%

Moves158 since the prior filing

+6.9 pp in · −6.8 pp out

New 12 +1.05 pp
Added 50 +5.85 pp
Trimmed 85 −6.28 pp
Exited 11 −0.54 pp

The book

Diversified · behaves like 43 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 29% a year, about 3.5 years per position

Low
Moderate
High

Top 5 positions19% of US stock

Positions160 in this filing · 11 exited


CTSHCognizant Technology Solutions	4.45%	18,609,898	$1.3B	added+12%	+0.26 pp	38 q
MGAMagna International	4.23%	20,958,945	$1.2B	added+16%	−0.34 pp	7 q
BAXBaxter International Inc.	3.63%	30,823,004	$1.0B	added+26%	+0.05 pp	4 q
DOWDow Inc.	3.52%	18,865,864	$1.0B	added+2%	−0.16 pp	18 q
CCitigroup Inc.	3.42%	15,317,724	$972M	trimmed−6%	−0.12 pp	45 q
COFCapital One Financial	3.37%	6,932,548	$960M	trimmed−5%	−0.36 pp	32 q
WFCWells Fargo & Co.	3.28%	15,706,472	$933M	trimmed−8%	−0.13 pp	45 q
EIXEdison International	3.25%	12,875,286	$925M	trimmed−5%	−0.05 pp	38 q
CHTRCharter Comm Inc Del CL A New	3.18%	3,023,589	$904M	added+6%	+0.34 pp	6 q
SSNCSS&C Technologies Inc	3.13%	14,209,105	$890M	trimmed−2%	−0.08 pp	13 q
HUMHumana Inc.	3.05%	2,318,347	$866M	added×6.4	+2.62 pp	4 q
LEALear Corporation	2.89%	7,187,890	$821M	added+15%	−0.21 pp	23 q
UBSUBS Group AG	2.79%	29,951,235	$792M	added+1%	−0.04 pp	39 q
BACBank of America Corporation	2.77%	19,833,297	$789M	trimmed−8%	−0.02 pp	45 q
CVSCvs Health Corporation	2.69%	12,936,388	$764M	added×2.3	+1.17 pp	3 q
EQHEquitable Holdings, Inc.	2.68%	18,642,684	$762M	trimmed−26%	−0.62 pp	18 q
TSNTyson Foods, Inc.	2.51%	12,489,564	$714M	added+18%	+0.38 pp	4 q
METMetLife, Inc.	2.38%	9,646,066	$677M	trimmed−4%	−0.17 pp	45 q
NOVNOV Inc.	2.35%	35,175,886	$669M	added0%	0.00 pp	25 q
MDTMedtronic plc	2.30%	8,307,123	$654M	added+8%	+0.01 pp	6 q
GPNGlobal Payments, Inc.	2.18%	6,423,463	$621M	added×2.9	+1.18 pp	4 q
PVHPVH Corp.	2.09%	5,623,706	$595M	added+5%	−0.49 pp	22 q
BMYBristol-Myers Squibb Co.	2.06%	14,134,337	$587M	added+15%	−0.23 pp	20 q
DOXAmdocs Limited	1.57%	5,667,603	$447M	added+33%	+0.25 pp	31 q
AVTAvnet, Inc.	1.55%	8,576,821	$442M	trimmed−0%	+0.09 pp	45 q
SWKSSkyworks Solutions Inc	1.53%	4,090,292	$436M	added+19%	+0.25 pp	3 q
0VQJLTe Connectivity Ltd	1.38%	2,616,000	$394M	trimmed−7%	−0.02 pp	6 q
NWLNewell Brands Inc.	1.18%	52,479,058	$336M	trimmed−2%	−0.30 pp	25 q
NOKNokia Corporation	1.10%	82,524,553	$312M	added+22%	+0.28 pp	13 q
FMSFresenius Medical Care AG	1.09%	16,184,221	$309M	trimmed−1%	+0.01 pp	12 q
SHELShell plc	0.94%	3,692,200	$267M	trimmed−5%	+0.04 pp	10 q
VOYAVoya Financial, Inc.	0.92%	3,684,112	$262M	trimmed−3%	−0.04 pp	41 q
DGDollar General Corp.	0.86%	1,850,151	$245M	trimmed−4%	−0.18 pp	2 q
PFEPfizer Inc.	0.71%	7,257,680	$203M	trimmed−5%	−0.02 pp	39 q
GSGoldman Sachs Group Inc.	0.70%	439,281	$199M	trimmed−7%	+0.02 pp	45 q
JPMJPMorgan Chase & Co.	0.68%	960,532	$194M	trimmed−27%	−0.22 pp	45 q
CIThe Cigna Group	0.63%	539,956	$178M	trimmed−0%	−0.04 pp	23 q
CNOCNO Financial Group, Inc.	0.59%	6,026,883	$167M	trimmed−8%	−0.03 pp	22 q
BAPCredicorp LTD	0.53%	934,956	$151M	added0%	−0.01 pp	8 q
OLNOlin Corp.	0.46%	2,766,998	$130M	trimmed−4%	−0.12 pp	19 q
JELDJELD-WEN Holding, Inc.	0.44%	9,320,851	$126M	added+26%	−0.10 pp	30 q
MHKMohawk Industries, Inc.	0.44%	1,092,046	$124M	trimmed−25%	−0.22 pp	22 q
ZTOZTO Express (Cayman) Inc.	0.43%	5,960,272	$124M	added+1%	+0.01 pp	4 q
KSPIJoint Stock Company Kaspi.kz American Depository Shares	0.39%	867,970	$112M	new	+0.39 pp	new
AXSAxis Capital Holders Limited	0.38%	1,519,972	$107M	trimmed−15%	−0.02 pp	45 q
ELVElevance Health, Inc.	0.37%	192,255	$104M	trimmed−1%	+0.03 pp	12 q
SPBSpectrum Brands Holdings, Inc.	0.36%	1,187,128	$102M	trimmed−10%	−0.04 pp	22 q
CNXCConcentrix Corporation	0.33%	1,484,907	$94M	added+47%	+0.10 pp	3 q
GJBSteelcase Inc-cl A	0.32%	7,092,675	$92M	added0%	0.00 pp	27 q
UHSUniversal Health Services, Inc. Class B	0.30%	455,323	$84M	trimmed−0%	+0.01 pp	3 q
GDGeneral Dynamics Corporation	0.28%	270,352	$78M	held	—	12 q
AAPAdvance Auto Parts Inc	0.27%	1,210,503	$77M	trimmed−3%	−0.10 pp	4 q
CHRWC.H. Robinson Worldwide, Inc.	0.27%	877,727	$77M	added+1%	+0.04 pp	2 q
GLGlobe Life Inc.	0.27%	930,378	$77M	added×2.5	+0.12 pp	45 q
WEDWebster Financial Corp	0.27%	1,743,173	$76M	trimmed−6%	−0.05 pp	45 q
DRHDiamondrock Hospitality Company	0.26%	8,835,117	$75M	trimmed−2%	−0.04 pp	45 q
LDOSLeidos Holdings, Inc.	0.26%	502,710	$73M	trimmed−45%	−0.15 pp	5 q
37MMrc Global Inc	0.26%	5,750,384	$74M	trimmed−22%	−0.06 pp	14 q
MSMorgan Stanley	0.26%	749,823	$73M	trimmed−0%	+0.02 pp	45 q
BDCBelden Inc.	0.25%	744,020	$70M	trimmed−13%	−0.02 pp	18 q
KFYKorn Ferry	0.25%	1,044,888	$70M	trimmed−7%	0.00 pp	3 q
WABWabtec Inc.	0.25%	454,395	$72M	trimmed−75%	−0.68 pp	22 q
XOMExxon Mobil Corp	0.24%	594,716	$68M	trimmed−0%	0.00 pp	45 q
CAHCardinal Health, Inc.	0.23%	664,657	$65M	added+1%	−0.02 pp	30 q
REZIResideo Technologies, Inc.	0.22%	3,262,732	$64M	trimmed−20%	−0.09 pp	6 q
HSICHenry Schein Inc	0.22%	989,671	$63M	held	—	10 q
AXTAAxalta Coating Systems Ltd.	0.22%	1,859,806	$64M	trimmed−42%	−0.16 pp	10 q
CBRECbre Group, Inc.	0.21%	671,038	$60M	trimmed−0%	−0.01 pp	12 q
OECOrion S.A.	0.21%	2,693,587	$59M	trimmed−6%	−0.02 pp	17 q
TRSTrimas Corporation	0.20%	2,260,502	$58M	trimmed−6%	−0.02 pp	40 q
ASBAssociated Banc-Corp	0.19%	2,510,879	$53M	trimmed−3%	0.00 pp	42 q
ONBOld National Bancorp	0.19%	3,143,473	$54M	trimmed−3%	0.00 pp	10 q
FNFFidelity National Financial, Inc.	0.18%	1,020,498	$50M	trimmed−5%	−0.02 pp	8 q
GILGildan Activewear Inc.	0.18%	1,380,406	$52M	trimmed−71%	−0.42 pp	23 q
HALHalliburton Company	0.18%	1,541,798	$52M	trimmed−1%	−0.03 pp	34 q
MBUUMalibu Boats, Inc. Class A	0.18%	1,478,316	$52M	new	+0.18 pp	new
CSCOCisco Systems, Inc. (DE)	0.17%	1,034,714	$49M	trimmed−0%	−0.01 pp	45 q
COLBColumbia Banking Systems Inc	0.17%	2,432,447	$48M	trimmed−1%	+0.01 pp	6 q
UVVUniversal Corporation	0.17%	1,031,955	$50M	trimmed−4%	−0.02 pp	37 q
ADNTAdient plc	0.17%	1,948,349	$48M	trimmed−2%	−0.05 pp	8 q
RHIRobert Half Inc.	0.16%	724,262	$46M	added+43%	+0.02 pp	3 q
USNAUSANA Health Sciences Inc	0.16%	976,633	$44M	added+24%	+0.03 pp	12 q
CRBGCorebridge Financial, Inc.	0.15%	1,439,862	$42M	trimmed−9%	−0.01 pp	4 q
FITBFifth Third Bancorp	0.15%	1,169,345	$43M	trimmed−13%	−0.02 pp	45 q
WSFSWSFS Financial Corp	0.15%	899,659	$42M	trimmed−4%	+0.01 pp	45 q
DANDana Incorporated	0.14%	3,225,513	$39M	trimmed−6%	−0.01 pp	19 q
MBCMasterBrand, Inc.	0.14%	2,803,219	$41M	trimmed−3%	−0.05 pp	7 q
MCKMcKesson Corporation	0.14%	67,079	$39M	trimmed−32%	−0.04 pp	31 q
SCSCScansource Inc	0.14%	927,583	$41M	trimmed−38%	−0.09 pp	34 q
SHYFThe Shyft Group, Inc.	0.14%	3,243,834	$38M	added×9.9	+0.13 pp	2 q
ABEVAmbev S.a.	0.13%	18,385,312	$38M	added+29%	+0.01 pp	16 q
MSMMSC Industrial Direct Co., Inc. Class A	0.13%	461,901	$37M	held	—	19 q
RFRegions Financial Corp.	0.13%	1,899,232	$38M	held	—	45 q
SHGShinhan Financial Group Co Ltd	0.13%	1,082,552	$38M	added+28%	+0.03 pp	43 q
VREXVarex Imaging Corporation	0.13%	2,569,213	$38M	added+42%	+0.02 pp	23 q
GGenpact Limited	0.13%	1,163,870	$37M	added×2.3	+0.07 pp	38 q
AIGAmerican International Group, Inc.	0.12%	475,206	$35M	trimmed−72%	−0.33 pp	45 q
PLOWDouglas Dynamics, Inc.	0.12%	1,401,875	$33M	new	+0.12 pp	new
FMCFMC Corporation	0.12%	576,737	$33M	new	+0.12 pp	new
GAPThe Gap, Inc.	0.12%	1,431,093	$34M	trimmed−67%	−0.30 pp	16 q
JNJJohnson & Johnson	0.12%	230,144	$34M	trimmed−0%	−0.01 pp	12 q
GCOGenesco Inc.	0.11%	1,221,342	$32M	added+64%	+0.04 pp	4 q
PAHCPhibro Animal Health Corporation Class A	0.11%	1,837,006	$31M	trimmed−7%	+0.02 pp	15 q
SYU1Synovus Financial Corp	0.11%	757,614	$30M	trimmed−2%	0.00 pp	6 q
BFHBread Financial Holdings, Inc.	0.10%	637,408	$28M	trimmed−10%	+0.01 pp	5 q
TBITrueblue, Inc.	0.10%	2,870,674	$30M	trimmed−4%	−0.03 pp	16 q
UVSPUnivest Financial Corporation	0.10%	1,268,250	$29M	trimmed−4%	+0.01 pp	18 q
ARWArrow Electronics, Inc.	0.09%	221,245	$27M	held	—	42 q
BIDUBaidu, Inc.	0.09%	309,581	$27M	added+4%	−0.02 pp	30 q
DISThe Walt Disney Company	0.09%	271,489	$27M	trimmed−74%	−0.35 pp	4 q
TILEInterface Inc	0.09%	1,695,258	$25M	trimmed−47%	−0.09 pp	5 q
KEYKeyCorp	0.09%	1,745,986	$25M	held	—	45 q
MANManpowerGroup	0.09%	351,121	$25M	new	+0.09 pp	new
unresolvedAmerican Woodmark Corporation	0.08%	303,918	$24M	trimmed−44%	−0.11 pp	11 q
CMAComerica Incorporated	0.08%	433,892	$22M	held	—	6 q
WCCWesco International Inc.	0.08%	148,778	$24M	new	+0.08 pp	new
ABMABM Industries, Inc.	0.07%	415,889	$21M	new	+0.07 pp	new
HDBHDFC Bank Limited	0.07%	310,736	$20M	added+9%	+0.02 pp	3 q
MMIMarcus & Millichap	0.07%	641,667	$20M	added×2.2	+0.04 pp	4 q
TCOMTrip.com Group Limited	0.07%	394,160	$19M	trimmed−73%	−0.15 pp	17 q
HOFTHooker Furnishings Corporation	0.06%	1,272,857	$18M	trimmed−2%	−0.05 pp	20 q
KOPKoppers Holdings, Inc.	0.05%	401,460	$15M	trimmed−16%	−0.04 pp	8 q
IVZInvesco LTD	0.05%	886,851	$13M	trimmed−20%	−0.01 pp	45 q
ETREntergy Corporation	0.04%	110,648	$12M	held	—	45 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.04%	65,368	$11M	trimmed−14%	0.00 pp	44 q
IBNICICI Bank Limited	0.03%	333,049	$10M	trimmed−9%	0.00 pp	26 q
BABAAlibaba Group Holding Limited	0.02%	65,625	$5M	added0%	0.00 pp	12 q
CIGCompanhia Energetica De Minas Gerais-CEMIG	0.01%	1,583,394	$3M	trimmed0%	0.00 pp	18 q
KBKB Financial Group Inc	0.01%	38,941	$2M	held	—	24 q
PBR.APetroleo Brasileiro S.A.-Petrobras	0.01%	168,134	$2M	held	—	6 q
SSLSasol Limited	0.01%	352,561	$3M	held	—	24 q
VALEVale S.a.	0.01%	253,398	$3M	added+10%	0.00 pp	3 q
AYIAcuity Inc.	0.00%	1,460	$352,502	trimmed−93%	−0.02 pp	6 q
MTArcelorMittal	0.00%	25,085	$575,189	added+4%	0.00 pp	7 q
ATOAtmos Energy Corporation	0.00%	2,709	$316,005	new	0.00 pp	new
BCSBarclays PLC	0.00%	97,592	$1M	trimmed−4%	0.00 pp	11 q
CMCSAComcast Corp	0.00%	5,135	$201,087	held	—	9 q
DELLDell Technologies Inc.	0.00%	2,187	$301,609	trimmed−22%	0.00 pp	3 q
DOCUDocuSign, Inc.	0.00%	8,114	$434,099	added+46%	0.00 pp	2 q
DLTRDollar Tree Inc.	0.00%	2,727	$291,162	added+40%	0.00 pp	3 q
DBXDropbox, Inc. Class A	0.00%	19,231	$432,121	new	0.00 pp	new
EQNREquinor ASA	0.00%	18,747	$535,424	new	0.00 pp	new
GILDGilead Sciences Inc	0.00%	4,589	$314,851	trimmed−26%	0.00 pp	6 q
HSBCHSBC Holdings PLC	0.00%	16,938	$736,788	trimmed−1%	0.00 pp	7 q
HIGThe Hartford Insurance Group, Inc.	0.00%	2,070	$208,118	new	0.00 pp	new
HLIHoulihan Lokey, Inc.	0.00%	3,463	$467,020	added+82%	0.00 pp	2 q
INGING Groep N.V.	0.00%	53,810	$922,306	added+1%	0.00 pp	7 q
INTCIntel Corp	0.00%	12,789	$396,075	added+19%	0.00 pp	2 q
ITUBItau Unibanco Holding S.A.	0.00%	230,664	$1M	held	—	15 q
PHGKoninklijke Philips N.v.	0.00%	13,737	$346,184	trimmed−43%	0.00 pp	5 q
LPLALPL Financial Holdings Inc.	0.00%	1,541	$430,401	added+51%	0.00 pp	11 q
NWGNatWest Group plc	0.00%	80,678	$647,843	added+1%	0.00 pp	7 q
QRVOQorvo, Inc.	0.00%	4,356	$505,470	added+26%	0.00 pp	13 q
RGAReinsurance Group of America, Incorporated	0.00%	4,457	$914,888	trimmed−97%	−0.10 pp	16 q
SMFGSumitomo Mitsui Financial Group, Inc	0.00%	22,056	$295,770	trimmed−3%	0.00 pp	7 q
TMUST-Mobile US, Inc.	0.00%	2,752	$484,847	trimmed−4%	0.00 pp	7 q
ULTAUlta Beauty, Inc.	0.00%	839	$323,745	new	0.00 pp	new
UTHRUnited Therapeutics Corp	0.00%	1,599	$509,361	trimmed−24%	0.00 pp	6 q
VODVodafone Group PLC	0.00%	12,737	$112,975	added+3%	0.00 pp	7 q
ITRNIturan Location and Control Ltd.	0.00%	22,659	$558,318	added+3%	0.00 pp	17 q
CLGGms Inc	—	−419,665	—	exited	−0.14 pp	—
FBINFortune Brands Innovations, Inc.	—	−335,729	—	exited	−0.10 pp	—
REVGREV Group, Inc.	—	−1,252,165	—	exited	−0.09 pp	—
DOORMasonite International Corp	—	−188,173	—	exited	−0.08 pp	—
MDUMDU Resources Group, Inc.	—	−795,200	—	exited	−0.07 pp	—
MTZMasTec, Inc.	—	−201,777	—	exited	−0.06 pp	—
ALBAlbemarle Corporation	—	−1,523	—	exited	0.00 pp	—
EXELExelixis Inc	—	−19,734	—	exited	0.00 pp	—
GEGE Aerospace	—	−3,127	—	exited	0.00 pp	—
KHCThe Kraft Heinz Company	—	−8,494	—	exited	0.00 pp	—
ACGLArch Capital Group Ltd	—	−5,691	—	exited	0.00 pp	—