13F Insight
DOSSIER · 13F-HR · Q1 2026

PZENA INVESTMENT MANAGEMENT LLC

$30.8B in tracked AUM across 192 positions as of Q1 2026.

PI
CIK 0001027796 · last filed Mar 31, 2026
Total AUM
$30.8B
as of Q1 2026
Holdings
192
—
positions
Whale Score
65
65
tracked
Activity
—
no data
changes this Q
AI Analysis · Q1 2026

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).

PZENA INVESTMENT MANAGEMENT LLC reports $30.8B in U.S. equity holdings for Q1 2026, anchored by a Consumer Cyclical-centric allocation. The top five positions by value span MGA + CTSH + TSN + BAX + BMY, collectively representing a meaningful concentration within the disclosed book.

Core Holdings

  • MGA (MAGNA INTL INC) — $2.0B (6.4%)
  • CTSH (COGNIZANT TECHNOLOGY SOLUTIO) — $1.2B (4.0%)
  • TSN (TYSON FOODS INC) — $1.1B (3.6%)
  • BAX (BAXTER INTL INC) — $1.1B (3.5%)
  • BMY (BRISTOL-MYERS SQUIBB CO) — $1.0B (3.4%)

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
MGA
MAGNA INTL INC
$2.0B25.3M6.4%02
CTSH
COGNIZANT TECHNOLOGY SOLUTIO
$1.2B20.3M4.0%03
TSN
TYSON FOODS INC
$1.1B17.2M3.6%04
BAX
BAXTER INTL INC
$1.1B64.5M3.5%05
BMY
BRISTOL-MYERS SQUIBB CO
$1.0B17.1M3.4%06
CVS
CVS HEALTH CORP
$989M13.8M3.2%07
HUM
HUMANA INC
$949M5.5M3.1%08
C
CITIGROUP INC
$927M8.2M3.0%09
SWKS
SKYWORKS SOLUTIONS INC
$863M16.1M2.8%10
COF
CAPITAL ONE FINL CORP
$836M4.6M2.7%

Filing history

2026Q1Mar 31
$30.8B▼ 7.8%
192 positionsView →2025Q4Dec 31
$33.4B▲ 8.0%
189 positionsView →2025Q3Sep 30
$30.9B▲ 0.6%
186 positionsView →2025Q2Jun 30
$30.8B▲ 7.4%
184 positionsLocked2025Q1Mar 31
$28.6B▼ 2.5%
178 positionsLocked2024Q4Dec 31
$29.4B▼ 5.3%
184 positionsLocked2024Q3Sep 30
$31.0B▲ 9.1%
191 positionsLocked2024Q2Jun 30
$28.4B▼ 2.4%
194 positionsLocked2024Q1Mar 31
$29.1B▲ 9.5%
220 positionsLocked2023Q4Dec 31
$26.6B▲ 14.3%
222 positionsLocked2023Q3Sep 30
$23.3B▼ 0.7%
165 positionsLocked2023Q2Jun 30
$23.4B▲ 1.2%
166 positionsLocked
Showing 12 of 84