Data as of Q4 2025 (Dec 31, 2025)·Next filing deadline: May 15, 2026

PZENA INVESTMENT MANAGEMENT LLC

•CIK: 1027796•Filing: Q4 2025

PZENA Investment Management LLC, led by the seasoned investor Paul Zemsky, manages $33.4 billion with a focus on value-oriented strategies, currently holding 157 positions. Recently, the fund has made notable moves by adding MYE and RYLBF significantly, while cutting GS by 89%, reflecting a tactical shift towards undervalued sectors.

Total AUM

$33.4B

QoQ Performance

+8.0%

Positions

157

Top 10 Concentration

39.4%

Latest Filing

Q4 2025

Top Holdings Allocation

MGA

MGA6.4%

CTSH4.4%

DG4.2%

BAX4.0%

TRVC3.7%

CVS3.7%

COF3.6%

UBS3.3%

📈 Biggest Buys

PPG INDS INC

+306.2%

2.2% of portfolio

AMDOCS LTD

+82.6%

2.9% of portfolio

ACCENTURE PLC IRELAND

+287.0%

1.1% of portfolio

BAXTER INTL INC

+22.1%

4.0% of portfolio

METLIFE INC

+22.9%

2.8% of portfolio

📉 Biggest Sells

MEDTRONIC PLC

-45.7%

0.9% of portfolio

TE CONNECTIVITY PLC

-57.0%

0.6% of portfolio

CITIGROUP INC

-15.3%

3.7% of portfolio

DOLLAR GEN CORP NEW

-8.6%

4.2% of portfolio

GOLDMAN SACHS GROUP INC

-90.1%

0.0% of portfolio

Sector Breakdown

Other78.4%

Healthcare11.8%

Financial8.0%

Technology1.5%

Energy0.2%

Communication0.1%

Industrial0.0%

🚪 Exited Positionssold since Q3 2025

MRC GLOBAL INC

SOLD

$74.2M

—

WNS HLDGS LTD

SOLD

$50.3M

FIDELITY NATIONAL FINANCIAL

SOLD

$13.5M

STEELCASE INC

SOLD

$6.7M

C H ROBINSON WORLDWIDE INC

SOLD

$2.2M

+4 more exited positions

Changes from Q3 2025

NEW12 new positions

↑50 increased

↓86 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

COGNIZANT TECHNOLOGY SOLUTIO

DOLLAR GEN CORP NEW

BAXTER INTL INC

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