PZENA INVESTMENT MANAGEMENT LLC

PZENA INVESTMENT MANAGEMENT LLC filed Q1 2026 13F-HR with $30.8B in disclosed U.S. equity holdings The portfolio is led by Consumer Cyclical exposure, with top positions including MGA (6.4%), CTSH (4.0%), TSN (3.6%). Quarter-over-quarter activity shows 6 new entries and 6 exits, with a net reductive posture across 56 changed positions. Notable reduction: DG (35.4% reduction) (DOLLAR GEN CORP).