Q2 2026 · SEC CIK 0001027796

Richard Pzena portfolio

SuperinvestorHedge fundPzena Investment Management LLC filed on 2026-08-07. Open SEC filings ↗

Reported 13F value: $34.1B
Reported positions: 161
Eligible equities: 149
Holdings vs S&P 500, 3 years: -8.7 pts

Average holding period of the top positions: 3.5 yrs. Holdings vs the S&P 500 over 1 and 5 years: -3.1 pts, -4.0 pts.

In its Q2 2026 13F, filed 2026-08-07, Pzena Investment Management LLC reported 161 positions worth $34.1B. Its largest holdings were MAGNA INTL INC (MGA, 6.5%), HUMANA INC (HUM, 5.1%), BAXTER INTL INC (BAX, 4.1%). Over the last 3 years its top holdings ran 8.7 points a year behind the S&P 500.

Reported holdings in the Q2 2026 13F.

The portfolio weight uses the full reported share-portfolio denominator. Weight changes compare this 13F with the one before it; price moves also change weights, so these are not trade labels. “New” means the position was not in the previous 13F at all; “—” marks a small position the earlier filing data does not cover.

Richard Pzena eligible holdings
Stock	% of reported portfolio	Prior quarter	Weight change	Reported shares	Reported value
MGAMAGNA INTL INC	6.5%	6.4%	+0.15 pp	23,882,824	$2.2B
HUMHUMANA INC	5.1%	3.1%	+2.05 pp	4,403,136	$1.7B
BAXBAXTER INTL INC	4.1%	3.5%	+0.57 pp	65,295,393	$1.4B
CVSCVS HEALTH CORP	3.6%	3.2%	+0.36 pp	11,769,536	$1.2B
DGDOLLAR GEN CORP	3.5%	2.7%	+0.80 pp	10,222,060	$1.2B
SWKSSKYWORKS SOLUTIONS INC	3.2%	2.8%	+0.38 pp	15,973,040	$1.1B
CTSHCOGNIZANT TECHNOLOGY SOLUTIO	3.0%	4.0%	-1.02 pp	26,529,172	$1.0B
BMYBRISTOL-MYERS SQUIBB CO	2.9%	3.4%	-0.49 pp	17,007,044	$979.9M
TSNTYSON FOODS INC	2.9%	3.6%	-0.71 pp	17,016,651	$974.2M
CRBGCOREBRIDGE FINL INC	2.8%	2.1%	+0.74 pp	33,789,727	$967.4M
PPGPPG INDS INC	2.8%	2.6%	+0.18 pp	7,807,438	$947.0M
METMETLIFE INC	2.8%	2.6%	+0.17 pp	11,130,983	$941.8M
COFCAPITAL ONE FINL CORP	2.7%	2.7%	-0.01 pp	4,593,920	$921.6M
UBSUBS GROUP AG	2.7%	2.6%	+0.01 pp	22,604,129	$905.5M
LEALEAR CORP	2.6%	2.7%	-0.04 pp	6,638,413	$889.9M
GPNGLOBAL PMTS INC	2.5%	2.5%	-0.05 pp	11,691,625	$848.3M
CCITIGROUP INC	2.3%	3.0%	-0.73 pp	5,548,789	$776.6M
WFCWELLS FARGO & CO	2.1%	2.3%	-0.13 pp	8,827,468	$729.5M
DOXAMDOCS LTD	2.1%	2.7%	-0.61 pp	13,985,330	$706.8M
SSNCSS&C TECH HLDGS	2.0%	2.1%	-0.12 pp	11,036,568	$684.8M
NOVNOV INC	2.0%	2.3%	-0.31 pp	36,376,087	$674.8M
ACNACCENTURE PLC IRELAND	1.9%	1.5%	+0.33 pp	5,142,176	$639.9M
PVHPVH CORPORATION	1.3%	1.3%	-0.00 pp	5,986,677	$444.6M
LKQLKQ CORP	1.2%	0.6%	+0.58 pp	15,142,285	$398.7M
CDWCDW CORP	1.1%	0.4%	+0.65 pp	2,638,900	$371.1M
BACBANK OF AMER CORP	1.1%	1.0%	+0.04 pp	6,310,363	$359.6M
DOWDOW HLDGS INC	1.0%	2.6%	-1.56 pp	12,507,011	$342.2M
FMSFRESENIUS MEDICAL CARE AG	1.0%	1.1%	-0.11 pp	14,992,081	$339.0M
BAPCREDICORP LTD	1.0%	1.0%	-0.05 pp	836,569	$325.9M
VOYAVOYA FINANCIAL INC	0.9%	0.8%	+0.12 pp	3,529,646	$319.5M
NWLNEWELL BRANDS INC	0.9%	0.5%	+0.33 pp	47,990,664	$294.7M
UHSUNIVERSAL HLTH SVCS INC	0.9%	1.1%	-0.25 pp	1,969,327	$292.8M
AVTAVNET INC	0.8%	1.1%	-0.33 pp	3,120,395	$277.2M
AAPADVANCE AUTO PARTS INC	0.8%	0.7%	+0.07 pp	4,389,501	$273.1M
KSPIKASPI KZ JSC	0.8%	0.6%	+0.14 pp	3,071,888	$266.1M
MDTMEDTRONIC PLC	0.7%	0.9%	-0.17 pp	3,147,999	$246.3M
DALDELTA AIR LINES INC	0.7%	0.6%	+0.11 pp	2,618,707	$245.3M
EQHEQUITABLE HLDGS INC	0.7%	0.5%	+0.18 pp	5,561,804	$244.1M
GLGLOBE LIFE INC	0.7%	0.5%	+0.25 pp	1,355,811	$242.3M
WDAYWORKDAY INC	0.7%	—	—	1,971,270	$241.3M
SPBSPECTRUM BRANDS HOLDINGS INC	0.6%	0.6%	+0.05 pp	2,420,808	$207.6M
MICCMAGNUM ICE CREAM CO NV	0.6%	0.3%	+0.30 pp	13,199,616	$201.1M
SHELSHELL PLC	0.6%	1.0%	-0.38 pp	2,581,244	$200.1M
RHIROBERT HALF INC.	0.6%	0.5%	+0.07 pp	6,222,305	$191.0M
ZTOZTO EXPRESS CAYMAN INC	0.5%	0.6%	-0.13 pp	7,322,331	$163.9M
MBCMASTERBRAND INC	0.5%	0.1%	+0.36 pp	15,329,483	$157.7M
CITHE CIGNA GROUP	0.5%	0.5%	-0.05 pp	562,036	$154.9M
CSCOCISCO SYS INC	0.4%	0.3%	+0.11 pp	1,281,329	$150.5M
PFEPFIZER INC	0.4%	0.5%	-0.12 pp	5,958,922	$143.5M
MHKMOHAWK INDS INC	0.4%	0.4%	+0.04 pp	1,142,841	$138.7M
HALHALLIBURTON CO	0.4%	0.5%	-0.12 pp	3,925,702	$133.3M
BEKEKE HLDGS INC	0.4%	—	—	8,877,643	$129.0M
KTKT CORP	0.4%	0.5%	-0.13 pp	7,286,500	$125.9M
CNOCNO FINL GROUP INC	0.4%	0.3%	+0.04 pp	2,441,665	$124.5M
JPMJPMORGAN CHASE & CO	0.3%	0.3%	-0.00 pp	334,094	$109.4M
STSENSATA TECHNOLOGIES HLDG PL	0.3%	0.4%	-0.08 pp	2,251,907	$107.5M
MSMORGAN STANLEY	0.3%	0.3%	+0.02 pp	454,492	$95.0M
GGENPACT LIMITED	0.3%	0.1%	+0.18 pp	3,319,546	$91.3M
FITBFIFTH THIRD BANCORP	0.3%	0.2%	+0.02 pp	1,584,757	$89.3M
ARCOARCOS DORADOS HLDGS INC	0.3%	0.3%	-0.03 pp	10,804,358	$87.1M
ELVELEVANCE HEALTH INC FORMERLY	0.3%	0.2%	+0.05 pp	224,575	$86.8M
DISDISNEY WALT CO	0.3%	0.0%	+0.22 pp	883,495	$85.0M
STZCONSTELLATION BRANDS INC	0.2%	0.3%	-0.04 pp	599,314	$83.4M
ABMABM INDS INC	0.2%	0.2%	+0.04 pp	1,808,203	$80.0M
OLNOLIN CORP	0.2%	0.4%	-0.20 pp	3,890,204	$77.1M
CNXCCONCENTRIX CORP	0.2%	0.3%	-0.04 pp	3,413,879	$76.5M
TFXTELEFLEX INCORPORATED	0.2%	0.3%	-0.05 pp	603,206	$76.5M
PLOWDOUGLAS DYNAMICS INC	0.2%	0.2%	+0.00 pp	1,384,680	$74.7M
ONBOLD NATL BANCORP IND	0.2%	0.2%	+0.02 pp	2,843,497	$73.6M
HSICSCHEIN HENRY INC	0.2%	0.2%	-0.00 pp	860,733	$71.9M
GPCGENUINE PARTS CO	0.2%	0.2%	+0.01 pp	591,970	$69.8M
COLBCOLUMBIA BKG SYS INC	0.2%	0.2%	+0.02 pp	2,129,322	$68.2M
WSFSWSFS FINL CORP	0.2%	0.2%	+0.01 pp	888,496	$68.2M
MMIMARCUS & MILLICHAP INC	0.2%	0.2%	+0.02 pp	2,141,001	$66.7M
NOKNOKIA CORP	0.2%	1.7%	-1.46 pp	5,010,906	$66.5M
OSKOSHKOSH CORP	0.2%	0.2%	-0.02 pp	415,766	$63.8M
MLKNMILLERKNOLL INC	0.2%	0.1%	+0.09 pp	3,032,700	$62.0M
ASBASSOCIATED BANC-CORP	0.2%	0.2%	+0.02 pp	1,990,243	$61.2M
GOOGLALPHABET INC	0.2%	0.2%	+0.02 pp	171,157	$61.2M
SCSCSCANSOURCE INC	0.2%	0.1%	+0.06 pp	1,109,743	$57.8M
KFYKORN FERRY	0.2%	0.2%	+0.01 pp	867,680	$57.8M
RFREGIONS FINANCIAL CORP NEW	0.2%	0.2%	+0.01 pp	1,839,825	$55.6M
HUNHUNTSMAN CORP	0.2%	0.3%	-0.09 pp	5,161,672	$54.8M
WGOWINNEBAGO INDS INC	0.2%	0.1%	+0.06 pp	1,709,531	$53.4M
REZIRESIDEO TECHNOLOGIES INC	0.2%	0.2%	+0.00 pp	1,686,765	$52.5M
MBUUMALIBU BOATS INC	0.1%	0.1%	+0.00 pp	1,794,261	$49.2M
TGTTARGET CORP	0.1%	0.1%	-0.00 pp	373,503	$48.8M
KOPKOPPERS HOLDINGS INC	0.1%	0.2%	-0.01 pp	1,061,285	$47.7M
VREXVAREX IMAGING CORP	0.1%	0.1%	-0.01 pp	4,344,381	$45.3M
HRHEALTHCARE RLTY TR	0.1%	0.1%	+0.01 pp	2,225,430	$44.9M
MSMMSC INDL DIRECT INC	0.1%	0.1%	-0.00 pp	373,664	$44.4M
SHGSHINHAN FINANCIAL GROUP CO L	0.1%	0.1%	-0.01 pp	669,474	$42.3M
HDBHDFC BANK LTD	0.1%	0.1%	-0.00 pp	1,613,476	$41.7M
CBRECBRE GROUP INC	0.1%	0.1%	-0.01 pp	305,781	$41.2M
HVTHAVERTY FURNITURE COS INC	0.1%	0.1%	+0.02 pp	1,563,451	$39.9M
GDGENERAL DYNAMICS CORP	0.1%	0.1%	-0.01 pp	108,574	$38.5M
HCAHCA HEALTHCARE INC	0.1%	0.1%	-0.03 pp	96,598	$37.7M
DNOWDNOW INC	0.1%	0.1%	-0.01 pp	2,893,482	$37.5M
GCOGENESCO INC	0.1%	0.1%	+0.01 pp	1,098,722	$37.1M
KEYKEYCORP	0.1%	0.1%	+0.00 pp	1,597,019	$36.8M
UVSPUNIVEST FINANCIAL CORPORATIO	0.1%	0.1%	+0.01 pp	834,628	$36.5M
BFHBREAD FINANCIAL HOLDINGS INC	0.1%	0.1%	-0.04 pp	327,448	$35.5M
DRHDIAMONDROCK HOSPITALITY CO	0.1%	0.1%	+0.02 pp	2,829,560	$34.5M
AIGAMERICAN INTL GROUP INC	0.1%	0.1%	-0.01 pp	456,619	$34.0M
SOLVSOLVENTUM CORP	0.1%	0.1%	+0.00 pp	417,770	$32.2M
NVSTENVISTA HOLDINGS CORPORATION	0.1%	0.1%	-0.04 pp	1,157,273	$30.5M
MYEMYERS INDS INC	0.1%	0.1%	-0.01 pp	781,014	$27.6M
HOFTHOOKER FURNISHINGS CORPORATI	0.1%	0.1%	+0.02 pp	1,542,623	$27.5M
ARWARROW ELECTRS INC	0.1%	0.1%	-0.02 pp	125,168	$26.7M
USNAUSANA HEALTH SCIENCES INC	0.1%	0.1%	+0.01 pp	1,205,587	$25.7M
LDOSLEIDOS HOLDINGS INC	0.1%	0.1%	-0.05 pp	247,849	$25.5M
WCCWESCO INTL INC	0.1%	0.1%	-0.03 pp	71,494	$24.7M
TBITRUEBLUE INC	0.1%	0.0%	+0.03 pp	3,090,808	$21.5M
HELEHELEN OF TROY LTD	0.1%	0.0%	+0.02 pp	676,577	$19.7M
UVVUNIVERSAL CORP VA MTNS BK EN	0.1%	0.1%	+0.00 pp	363,477	$19.0M
MANMANPOWERGROUP INC WIS	0.0%	0.0%	+0.00 pp	351,121	$11.9M
BIDUBAIDU INC	0.0%	0.0%	-0.00 pp	41,474	$4.7M
KNXKNIGHT-SWIFT TRANSN HLDGS IN	0.0%	0.2%	-0.22 pp	59,406	$4.6M
INGING GROEP N.V.	0.0%	0.0%	+0.00 pp	94,897	$3.0M
BABAALIBABA GROUP HLDG LTD	0.0%	0.0%	-0.00 pp	26,761	$2.6M
HSBCHSBC HLDGS PLC	0.0%	0.0%	+0.00 pp	23,555	$2.2M
TSMTAIWAN SEMICONDUCTOR MANUFAC	0.0%	0.0%	-0.02 pp	4,054	$1.9M
PHGKONINKLIJKE PHILIPS N V	0.0%	0.0%	+0.00 pp	48,243	$1.3M
GSKGSK PLC	0.0%	0.0%	+0.00 pp	24,507	$1.3M
EQNREQUINOR ASA	0.0%	0.0%	-0.00 pp	38,188	$1.2M
SNYSANOFI SA	0.0%	0.0%	+0.00 pp	25,302	$1.1M
SAPSAP SE	0.0%	—	—	6,554	$1.0M
VALEVALE S A	0.0%	0.0%	-0.01 pp	59,077	$889K
SMFGSUMITOMO MITSUI FIN GRP INC	0.0%	0.0%	+0.00 pp	37,322	$880K
KBKB FINL GROUP INC	0.0%	0.0%	-0.00 pp	7,640	$802K
PBR-APETROLEO BRASILEIRO S A	0.0%	0.0%	-0.01 pp	53,138	$778K
TAKTAKEDA PHARMACEUTICAL CO LTD	0.0%	0.0%	+0.00 pp	37,820	$606K
BCSBARCLAYS PLC	0.0%	0.0%	+0.00 pp	20,525	$551K
ZBRAZEBRA TECHNOLOGIES CORPORATI	0.0%	—	—	1,359	$358K
MRKMERCK & CO INC	0.0%	0.0%	+0.00 pp	2,511	$323K
HALOHALOZYME THERAPEUTICS INC	0.0%	0.0%	+0.00 pp	4,049	$317K
TOSTTOAST INC	0.0%	—	—	10,945	$304K
ORCLORACLE CORP	0.0%	—	—	2,076	$304K
ADSKAUTODESK INC	0.0%	0.0%	+0.00 pp	1,506	$293K
NVDANVIDIA CORPORATION	0.0%	—	—	1,445	$289K
QRVOQORVO INC	0.0%	—	—	3,045	$284K
MSFTMICROSOFT CORP	0.0%	0.0%	+0.00 pp	755	$282K
GEGE AEROSPACE	0.0%	0.0%	+0.00 pp	736	$275K
EXPEEXPEDIA GROUP INC	0.0%	—	—	1,060	$271K
CRMSALESFORCE INC	0.0%	—	—	1,502	$235K
ADBEADOBE INC	0.0%	0.0%	+0.00 pp	1,094	$224K
GEVGE VERNOVA INC	0.0%	—	—	184	$216K
STTSTATE STR CORP	0.0%	—	—	1,231	$209K
DOCUDOCUSIGN INC	0.0%	0.0%	+0.00 pp	4,510	$200K

What Richard Pzena bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

LKQ Lkq Corp+142.9% shares
CDW Cdw Corp+136.6% shares
ACN Accenture PLC Ireland Shs Class A+113.8% shares
DG Dollar Gen Corp New+48.2% shares
GL Globe Life Inc+32.1% shares
CTSH Cognizant Technology Solutions Corp+30.9% shares
CRBG Corebridge Finl Inc+24.9% shares
EQH Equitable Hldgs Inc+24.6% shares

Reduced

AVT Automatic Data Processing in-45.2% shares
DOW Dow Inc.-34.0% shares
C Citigroup Inc Com New-32.1% shares
HUM Humana Inc-19.5% shares
SHEL Shell PLC-19.2% shares
UBS Ubs Group AG-14.8% shares
CVS Cvs Caremark Corporation-14.5% shares
BAP Credicorp Ltd.-8.3% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +15.4% /yr; S&P 500 +20.1%
3 years: +10.2% /yr; S&P 500 +20.4%
5 years: +7.1% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Questions about Richard Pzena's portfolio

What stocks does Richard Pzena own?

Pzena Investment Management LLC's latest 13F, for Q2 2026 and filed Aug 7, 2026, lists 161 positions worth $34.1B. The largest are Magna Intl Inc (MGA) at 6.5%, Humana Inc (HUM) at 5.1%, Baxter Intl Inc (BAX) at 4.1%, Cvs Caremark Corporation (CVS) at 3.6% and Dollar Gen Corp New (DG) at 3.5%.

What did Richard Pzena buy last quarter?

In Q2 2026, Pzena Investment Management LLC added Lkq Corp (LKQ) (+142.9% shares), Cdw Corp (CDW) (+136.6% shares) and Accenture PLC Ireland Shs Class A (ACN) (+113.8% shares), compared with its Q1 2026 filing.

What did Richard Pzena sell last quarter?

In Q2 2026, Pzena Investment Management LLC cut from its top 50 Nokia Corp (NOK), cut from its top 50 Halliburton Co (HAL), cut from its top 50 Kt Corp (KT), cut from its top 50 Globant S A (GLOB), cut from its top 50 Olin Corp (OLN), Automatic Data Processing in (AVT) (-45.2% shares), Dow Inc. (DOW) (-34.0% shares) and Citigroup Inc Com New (C) (-32.1% shares), compared with its Q1 2026 filing.

How has Richard Pzena's portfolio performed?

A portfolio copying Pzena Investment Management LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +10.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +15.4% against +20.1%. Over 5 years: +7.1% a year against +11.6%.

When is Pzena Investment Management LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Pzena Investment Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Pzena Investment Management LLC manage?

Pzena Investment Management LLC reported $81.4B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $34.1B.