13F COMBINATION REPORT
PZENA INVESTMENT MANAGEMENT LLC
Quarter ended Q4 2025 · Filed February 6, 2026 · Accession 0001027796-26-000009
Total Value
$33.40B
Positions
189
Other Managers
1
Confidential Omitted
No
Holdings (189)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | MAGNA INTL INC | 559222401 | 28,775,069 | $2.11B | 6.30% |
| 2 | COGNIZANT TECHNOLOGY SOLUTIO | CTSH | 17,447,915 | $1.45B | 4.34% |
| 3 | DOLLAR GEN CORP NEW | 256677105 | 10,548,982 | $1.40B | 4.19% |
| 4 | BAXTER INTL INC | 071813109 | 68,963,389 | $1.32B | 3.95% |
| 5 | CITIGROUP INC | C-PR | 10,439,495 | $1.22B | 3.65% |
| 6 | CVS HEALTH CORP | CVS | 15,286,467 | $1.21B | 3.63% |
| 7 | CAPITAL ONE FINL CORP | 14040H105 | 4,942,961 | $1.20B | 3.59% |
| 8 | UBS GROUP AG | UBS | 29,531,729 | $1.09B | 3.27% |
| 9 | HUMANA INC | HUM | 3,994,559 | $1.02B | 3.06% |
| 10 | AMDOCS LTD | DOX | 11,904,203 | $958.4M | 2.87% |
| 11 | BRISTOL-MYERS SQUIBB CO | CELG-RI | 17,696,937 | $954.6M | 2.86% |
| 12 | METLIFE INC | MET-PF | 11,689,826 | $922.8M | 2.76% |
| 13 | WELLS FARGO CO NEW | 949746101 | 9,759,719 | $909.6M | 2.72% |
| 14 | SS&C TECHNOLOGIES HLDGS INC | SSNC | 10,313,582 | $901.6M | 2.70% |
| 15 | TYSON FOODS INC | TSN | 15,079,022 | $883.9M | 2.65% |
| 16 | GLOBAL PMTS INC | 37940X102 | 11,228,053 | $869.1M | 2.60% |
| 17 | LEAR CORP | LEA | 7,332,949 | $840.4M | 2.52% |
| 18 | SKYWORKS SOLUTIONS INC | SWKS | 12,450,606 | $789.5M | 2.36% |
| 19 | PPG INDS INC | 693506107 | 6,970,237 | $714.2M | 2.14% |
| 20 | COREBRIDGE FINL INC | 21871X109 | 23,241,189 | $701.2M | 2.10% |
| 21 | NOV INC | NOV | 41,722,364 | $652.1M | 1.95% |
| 22 | DOW INC | DOW | 27,271,280 | $637.6M | 1.91% |
| 23 | NOKIA CORP | NOKBF | 91,942,507 | $594.9M | 1.78% |
| 24 | UNIVERSAL HLTH SVCS INC | 913903100 | 2,112,604 | $460.6M | 1.38% |
| 25 | PVH CORPORATION | PVH | 6,138,081 | $411.4M | 1.23% |
| 26 | ACCENTURE PLC IRELAND | ACN | 1,307,722 | $350.9M | 1.05% |
| 27 | BANK AMERICA CORP | 060505104 | 6,197,531 | $340.9M | 1.02% |
| 28 | AVNET INC | AVT | 7,037,798 | $338.4M | 1.01% |
| 29 | FRESENIUS MEDICAL CARE AG | FMCQF | 14,013,868 | $333.8M | 1.00% |
| 30 | CREDICORP LTD | BAP | 1,068,942 | $306.8M | 0.92% |
| 31 | MEDTRONIC PLC | MDT | 3,111,421 | $298.9M | 0.89% |
| 32 | VOYA FINANCIAL INC | VOYA-PB | 3,515,627 | $261.9M | 0.78% |
| 33 | SHELL PLC | RYDAF | 3,131,536 | $230.1M | 0.69% |
| 34 | KASPI KZ JSC | 48581R205 | 2,705,734 | $211.4M | 0.63% |
| 35 | EQUITABLE HLDGS INC | EQH-PC | 4,208,802 | $200.5M | 0.60% |
| 36 | DELTA AIR LINES INC DEL | DAL | 2,808,429 | $194.9M | 0.58% |
| 37 | NEWELL BRANDS INC | NWL | 49,236,201 | $183.2M | 0.55% |
| 38 | TE CONNECTIVITY PLC | TEL | 792,819 | $180.4M | 0.54% |
| 39 | ZTO EXPRESS CAYMAN INC | ZTOEF | 7,580,454 | $158.4M | 0.47% |
| 40 | THE CIGNA GROUP | 125523100 | 570,833 | $157.1M | 0.47% |
| 41 | ADVANCE AUTO PARTS INC | AAP | 3,973,493 | $156.2M | 0.47% |
| 42 | PFIZER INC | PFE | 6,159,647 | $153.4M | 0.46% |
| 43 | HALLIBURTON CO | HAL | 5,333,743 | $150.7M | 0.45% |
| 44 | SPECTRUM BRANDS HLDGS INC NE | SPB | 2,401,948 | $141.9M | 0.42% |
| 45 | GLOBE LIFE INC | GL-PD | 976,047 | $136.5M | 0.41% |
| 46 | LKQ CORP | LKQ | 4,382,173 | $132.3M | 0.40% |
| 47 | MOHAWK INDS INC | 608190104 | 1,186,400 | $129.7M | 0.39% |
| 48 | CONCENTRIX CORP | CNXC | 2,927,196 | $121.7M | 0.36% |
| 49 | ROBERT HALF INC. | RHI | 4,394,851 | $119.4M | 0.36% |
| 50 | SENSATA TECHNOLOGIES HLDG PL | ST | 3,509,416 | $116.8M | 0.35% |
| 51 | JPMORGAN CHASE & CO. | VYLD | 342,390 | $110.3M | 0.33% |
| 52 | CISCO SYS INC | CSCO | 1,396,376 | $107.6M | 0.32% |
| 53 | CNO FINL GROUP INC | 12621E103 | 2,462,868 | $104.6M | 0.31% |
| 54 | WEBSTER FINL CORP | 947890109 | 1,652,571 | $104.0M | 0.31% |
| 55 | GENERAL DYNAMICS CORP | GD | 293,443 | $98.8M | 0.30% |
| 56 | OLIN CORP | OLN | 4,507,913 | $93.9M | 0.28% |
| 57 | MORGAN STANLEY | MS-PQ | 472,239 | $83.8M | 0.25% |
| 58 | CONSTELLATION BRANDS INC | STZ | 589,891 | $81.4M | 0.24% |
| 59 | EXXON MOBIL CORP | XOM | 660,739 | $79.5M | 0.24% |
| 60 | WABTEC | 929740108 | 366,410 | $78.2M | 0.23% |
| 61 | ARCOS DORADOS HOLDINGS INC | ARCO | 10,562,564 | $77.5M | 0.23% |
| 62 | ELEVANCE HEALTH INC FORMERLY | ELV | 216,322 | $75.8M | 0.23% |
| 63 | GENUINE PARTS CO | GPC | 606,880 | $74.6M | 0.22% |
| 64 | ADIENT PLC | ADNT | 3,677,070 | $70.5M | 0.21% |
| 65 | DOUGLAS DYNAMICS INC | PLOW | 2,126,608 | $69.4M | 0.21% |
| 66 | HENRY SCHEIN INC | HSIC | 887,725 | $67.1M | 0.20% |
| 67 | KNIGHT-SWIFT TRANSN HLDGS IN | 499049104 | 1,265,317 | $66.2M | 0.20% |
| 68 | OSHKOSH CORP | OSK | 513,621 | $64.5M | 0.19% |
| 69 | AMERICAN WOODMARK CORPORATIO | AMWD | 1,150,214 | $62.0M | 0.19% |
| 70 | HUNTSMAN CORP | HUN | 5,705,178 | $57.1M | 0.17% |
| 71 | OLD NATL BANCORP IND | 680033107 | 2,518,048 | $56.2M | 0.17% |
| 72 | DNOW INC | DNOW | 4,161,129 | $55.1M | 0.17% |
| 73 | AEBI SCHMIDT HLDG AG | H00501108 | 4,250,372 | $53.8M | 0.16% |
| 74 | ALPHABET INC | GOOG | 171,157 | $53.6M | 0.16% |
| 75 | KORN FERRY | KFY | 791,865 | $52.3M | 0.16% |
| 76 | JOHNSON & JOHNSON | JNJ | 245,951 | $50.9M | 0.15% |
| 77 | ENVISTA HOLDINGS CORPORATION | NVST | 2,325,859 | $50.5M | 0.15% |
| 78 | COLUMBIA BKG SYS INC | 197236102 | 1,804,394 | $50.4M | 0.15% |
| 79 | REGIONS FINANCIAL CORP NEW | RF-PF | 1,839,825 | $49.9M | 0.15% |
| 80 | ABM INDS INC | 000957100 | 1,171,529 | $49.6M | 0.15% |
| 81 | SHINHAN FINANCIAL GROUP CO L | SHG | 911,788 | $48.9M | 0.15% |
| 82 | MALIBU BOATS INC | MBUU | 1,721,957 | $48.6M | 0.15% |
| 83 | WSFS FINL CORP | 929328102 | 876,816 | $48.4M | 0.15% |
| 84 | RESIDEO TECHNOLOGIES INC | REZI | 1,372,625 | $48.2M | 0.14% |
| 85 | DIAMONDROCK HOSPITALITY CO | DRH | 5,316,555 | $47.6M | 0.14% |
| 86 | CBRE GROUP INC | CBRE | 296,040 | $47.6M | 0.14% |
| 87 | BREAD FINANCIAL HOLDINGS INC | BFH-PA | 640,130 | $47.4M | 0.14% |
| 88 | HCA HEALTHCARE INC | HCA | 100,830 | $47.1M | 0.14% |
| 89 | VAREX IMAGING CORP | VREX | 3,989,364 | $46.5M | 0.14% |
| 90 | TELEFLEX INCORPORATED | TFX | 379,465 | $46.3M | 0.14% |
| 91 | ASSOCIATED BANC CORP | ASBA | 1,745,153 | $45.0M | 0.13% |
| 92 | LEIDOS HOLDINGS INC | LDOS | 244,271 | $44.1M | 0.13% |
| 93 | FIFTH THIRD BANCORP | FITBM | 937,822 | $43.9M | 0.13% |
| 94 | MASTERBRAND INC | MBC | 3,785,921 | $41.8M | 0.13% |
| 95 | HEALTHCARE RLTY TR | 42226K105 | 2,225,789 | $37.7M | 0.11% |
| 96 | AMERICAN INTL GROUP INC | 026874784 | 440,331 | $37.7M | 0.11% |
| 97 | WINNEBAGO INDS INC | 974637100 | 928,962 | $37.6M | 0.11% |
| 98 | MSC INDL DIRECT INC | 553530106 | 444,666 | $37.4M | 0.11% |
| 99 | TARGET CORP | TGT | 374,240 | $36.6M | 0.11% |
| 100 | SCANSOURCE INC | SCSC | 907,456 | $35.4M | 0.11% |
| 101 | SOLVENTUM CORP | SOLV | 435,310 | $34.5M | 0.10% |
| 102 | GENPACT LIMITED | G | 732,142 | $34.2M | 0.10% |
| 103 | HAVERTY FURNITURE COS INC | 419596101 | 1,458,459 | $34.1M | 0.10% |
| 104 | KEYCORP | 493267108 | 1,644,569 | $33.9M | 0.10% |
| 105 | KOPPERS HOLDINGS INC | KOP | 1,204,252 | $32.6M | 0.10% |
| 106 | COMERICA INC | 200340107 | 374,001 | $32.5M | 0.10% |
| 107 | GENESCO INC | GCO | 1,243,696 | $30.8M | 0.09% |
| 108 | HDFC BANK LTD | HDB | 838,448 | $30.6M | 0.09% |
| 109 | UNIVEST FINANCIAL CORPORATIO | UVSP | 856,235 | $28.0M | 0.08% |
| 110 | WESCO INTL INC | 95082P105 | 113,617 | $27.8M | 0.08% |
| 111 | CHARTER COMMUNICATIONS INC N | 16119P108 | 118,715 | $24.8M | 0.07% |
| 112 | MAGNA INTL INC | 559222401 | 338,513 | $24.8M | 0.07% |
| 113 | MYERS INDS INC | 628464109 | 1,302,309 | $24.4M | 0.07% |
| 114 | ORION S.A. | OEC | 4,582,596 | $24.2M | 0.07% |
| 115 | CVS HEALTH CORP | CVS | 294,840 | $23.4M | 0.07% |
| 116 | ARROW ELECTRS INC | 042735100 | 211,106 | $23.3M | 0.07% |
| 117 | USANA HEALTH SCIENCES INC | USNA | 1,134,429 | $22.3M | 0.07% |
| 118 | BAXTER INTL INC | 071813109 | 1,082,862 | $20.7M | 0.06% |
| 119 | WELLS FARGO CO NEW | 949746101 | 220,928 | $20.6M | 0.06% |
| 120 | CITIGROUP INC | C-PR | 175,639 | $20.5M | 0.06% |
| 121 | HELEN OF TROY LTD | HELE | 947,568 | $20.1M | 0.06% |
| 122 | HUMANA INC | HUM | 77,649 | $19.9M | 0.06% |
| 123 | TRIMAS CORP | TRS | 538,371 | $19.1M | 0.06% |
| 124 | CAPITAL ONE FINL CORP | 14040H105 | 77,892 | $18.9M | 0.06% |
| 125 | FRESENIUS MEDICAL CARE AG | FMCQF | 738,968 | $17.6M | 0.05% |
| 126 | UNIVERSAL CORP VA | UVV | 327,678 | $17.3M | 0.05% |
| 127 | DOLLAR GEN CORP NEW | 256677105 | 127,841 | $17.0M | 0.05% |
| 128 | MARCUS & MILLICHAP INC | MMI | 614,322 | $16.8M | 0.05% |
| 129 | HOOKER FURNISHINGS CORPORATI | HOFT | 1,382,690 | $15.6M | 0.05% |
| 130 | BANK AMERICA CORP | 060505104 | 282,564 | $15.5M | 0.05% |
| 131 | LEAR CORP | LEA | 134,405 | $15.4M | 0.05% |
| 132 | METLIFE INC | MET-PF | 193,512 | $15.3M | 0.05% |
| 133 | COGNIZANT TECHNOLOGY SOLUTIO | CTSH | 180,764 | $15.0M | 0.04% |
| 134 | GLOBAL PMTS INC | 37940X102 | 181,644 | $14.1M | 0.04% |
| 135 | TYSON FOODS INC | TSN | 231,491 | $13.6M | 0.04% |
| 136 | BRISTOL-MYERS SQUIBB CO | CELG-RI | 246,566 | $13.3M | 0.04% |
| 137 | PPG INDS INC | 693506107 | 128,530 | $13.2M | 0.04% |
| 138 | TRUEBLUE INC | TBI | 2,864,609 | $13.0M | 0.04% |
| 139 | DELTA AIR LINES INC DEL | DAL | 174,364 | $12.1M | 0.04% |
| 140 | COREBRIDGE FINL INC | 21871X109 | 391,221 | $11.8M | 0.04% |
| 141 | SKYWORKS SOLUTIONS INC | SWKS | 175,874 | $11.2M | 0.03% |
| 142 | AMBEV SA | ABEV | 4,421,619 | $10.9M | 0.03% |
| 143 | GOLDMAN SACHS GROUP INC | GSCE | 12,225 | $10.7M | 0.03% |
| 144 | SHELL PLC | RYDAF | 145,792 | $10.7M | 0.03% |
| 145 | AMDOCS LTD | DOX | 132,812 | $10.7M | 0.03% |
| 146 | MANPOWERGROUP INC WIS | MAN | 351,121 | $10.4M | 0.03% |
| 147 | MEDTRONIC PLC | MDT | 107,431 | $10.3M | 0.03% |
| 148 | DISNEY WALT CO | 254687106 | 90,219 | $10.3M | 0.03% |
| 149 | PFIZER INC | PFE | 367,153 | $9.1M | 0.03% |
| 150 | UBS GROUP AG | UBS | 242,844 | $9.0M | 0.03% |
| 151 | DOW INC | DOW | 355,607 | $8.3M | 0.02% |
| 152 | VOYA FINANCIAL INC | VOYA-PB | 110,585 | $8.2M | 0.02% |
| 153 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 26,342 | $8.0M | 0.02% |
| 154 | FMC CORP | FMC | 572,048 | $7.9M | 0.02% |
| 155 | BAIDU INC | BAIDF | 56,507 | $7.4M | 0.02% |
| 156 | NOV INC | NOV | 441,864 | $6.9M | 0.02% |
| 157 | EQUITABLE HLDGS INC | EQH-PC | 116,546 | $5.6M | 0.02% |
| 158 | TE CONNECTIVITY PLC | TEL | 19,072 | $4.3M | 0.01% |
| 159 | PVH CORPORATION | PVH | 56,548 | $3.8M | 0.01% |
| 160 | ALIBABA GROUP HLDG LTD | BBAAY | 25,437 | $3.7M | 0.01% |
| 161 | NEWELL BRANDS INC | NWL | 783,352 | $2.9M | 0.01% |
| 162 | VALE S A | VALE | 172,732 | $2.3M | 0.01% |
| 163 | CIA ENERGETICA DE MINAS GERA | 204409601 | 1,080,784 | $2.2M | 0.01% |
| 164 | ING GROEP N.V. | INGVF | 68,962 | $1.9M | 0.01% |
| 165 | HSBC HLDGS PLC | HBCYF | 22,906 | $1.8M | 0.01% |
| 166 | KB FINL GROUP INC | 48241A105 | 19,023 | $1.6M | 0.00% |
| 167 | ITAU UNIBANCO HLDG S A | 465562106 | 225,157 | $1.6M | 0.00% |
| 168 | ARCELORMITTAL SA LUXEMBOURG | ARCXF | 34,475 | $1.6M | 0.00% |
| 169 | PETROLEO BRASILEIRO SA PETRO | 71654V101 | 124,899 | $1.4M | 0.00% |
| 170 | TOTALENERGIES SE | TTE | 20,693 | $1.2M | 0.00% |
| 171 | BARCLAYS PLC | BCLYF | 44,945 | $1.1M | 0.00% |
| 172 | KONINKLIJKE PHILIPS N V | RYLPF | 36,969 | $1.0M | 0.00% |
| 173 | EQUINOR ASA | STOHF | 29,555 | $698,387 | 0.00% |
| 174 | GSK PLC | GLAXF | 13,444 | $659,292 | 0.00% |
| 175 | SANOFI SA | SNYNF | 11,749 | $569,342 | 0.00% |
| 176 | SUMITOMO MITSUI FINL GROUP I | 86562M209 | 28,473 | $550,381 | 0.00% |
| 177 | MERCK & CO INC | MRK | 3,324 | $349,884 | 0.00% |
| 178 | TAKEDA PHARMACEUTICAL CO LTD | TKPHF | 20,627 | $321,575 | 0.00% |
| 179 | DOCUSIGN INC | DOCU | 4,510 | $308,484 | 0.00% |
| 180 | HOLOGIC INC | HOLX | 4,109 | $306,079 | 0.00% |
| 181 | HARTFORD INSURANCE GROUP INC | HIG-PG | 2,127 | $293,101 | 0.00% |
| 182 | ADOBE INC | ADBE | 837 | $292,942 | 0.00% |
| 183 | CINCINNATI FINL CORP | 172062101 | 1,792 | $292,669 | 0.00% |
| 184 | HALOZYME THERAPEUTICS INC | HALO | 4,278 | $287,909 | 0.00% |
| 185 | ARCHER DANIELS MIDLAND CO | ADM | 4,842 | $278,367 | 0.00% |
| 186 | INTEL CORP | INTC | 7,515 | $277,304 | 0.00% |
| 187 | CIRRUS LOGIC INC | CRUS | 2,222 | $263,307 | 0.00% |
| 188 | GE AEROSPACE | 369604301 | 736 | $226,710 | 0.00% |
| 189 | TPG INC | TPGXL | 3,386 | $216,162 | 0.00% |