In Q2 2026, Pzena Investment Management held 161 US-listed stocks worth $34bn. Its biggest move was cutting Humana (20% fewer shares, now 5.1%), followed by cutting DOW (34% fewer shares, now 1.0%). It started 12 new positions and sold out of 9. Its largest holding is Magna International at 6.5%.
Against Q1 2026, by number of shares and adjusted for splits. Up to five of each, largest first; the full list is below.
US holdings from the 13F
Q2 2026, filed 7 Aug 2026 (filing): 12 new, 71 added to, 70 trimmed, 9 sold out. Select a row to see it over time.How this works
Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter
Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions.How this works
Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
2013
2015
2017
2019
2021
2023
Q4 ’24
Q2 ’25
Q4 ’25
Q2 ’26
CTSHCMGACOFBAXDGEverything else
2013: Cognizant Technology Solutions 0.0%, Citigroup 2.4%, Magna International 0.0%, Capital One Financial 0.0%, Baxter International 0.0%, Dollar General 0.0%; 2014: Cognizant Technology Solutions 0.0%, Citigroup 2.9%, Magna International 0.0%, Capital One Financial 0.0%, Baxter International 0.0%, Dollar General 0.0%; 2015: Cognizant Technology Solutions 0.0%, Citigroup 2.9%, Magna International 0.0%, Capital One Financial 0.0%, Baxter International 0.0%, Dollar General 0.0%; 2016: Cognizant Technology Solutions 0.0%, Citigroup 2.9%, Magna International 0.0%, Capital One Financial 0.0%, Baxter International 0.0%, Dollar General 0.0%; 2017: Cognizant Technology Solutions 2.5%, Citigroup 3.0%, Magna International 0.0%, Capital One Financial 2.3%, Baxter International 0.0%, Dollar General 0.0%; 2018: Cognizant Technology Solutions 2.8%, Citigroup 2.5%, Magna International 0.0%, Capital One Financial 2.5%, Baxter International 0.0%, Dollar General 0.0%; 2019: Cognizant Technology Solutions 2.6%, Citigroup 2.8%, Magna International 0.0%, Capital One Financial 2.7%, Baxter International 0.0%, Dollar General 0.0%; 2020: Cognizant Technology Solutions 3.3%, Citigroup 2.8%, Magna International 0.0%, Capital One Financial 2.7%, Baxter International 0.0%, Dollar General 0.0%; 2021: Cognizant Technology Solutions 4.7%, Citigroup 0.0%, Magna International 0.0%, Capital One Financial 0.0%, Baxter International 0.0%, Dollar General 0.0%; 2022: Cognizant Technology Solutions 4.4%, Citigroup 3.2%, Magna International 0.0%, Capital One Financial 0.0%, Baxter International 0.0%, Dollar General 0.0%; 2023: Cognizant Technology Solutions 4.9%, Citigroup 3.3%, Magna International 3.8%, Capital One Financial 3.8%, Baxter International 3.5%, Dollar General 0.0%; Q3 ’24: Cognizant Technology Solutions 4.6%, Citigroup 3.0%, Magna International 4.7%, Capital One Financial 3.4%, Baxter International 3.9%, Dollar General 2.8%; Q4 ’24: Cognizant Technology Solutions 4.6%, Citigroup 3.3%, Magna International 5.5%, Capital One Financial 3.7%, Baxter International 3.3%, Dollar General 3.0%; Q1 ’25: Cognizant Technology Solutions 4.6%, Citigroup 3.3%, Magna International 4.9%, Capital One Financial 3.5%, Baxter International 4.4%, Dollar General 3.9%; Q2 ’25: Cognizant Technology Solutions 4.4%, Citigroup 3.8%, Magna International 5.0%, Capital One Financial 3.8%, Baxter International 3.9%, Dollar General 4.4%; Q3 ’25: Cognizant Technology Solutions 3.8%, Citigroup 4.1%, Magna International 6.2%, Capital One Financial 3.5%, Baxter International 4.2%, Dollar General 3.9%; Q4 ’25: Cognizant Technology Solutions 4.4%, Citigroup 3.7%, Magna International 6.4%, Capital One Financial 3.6%, Baxter International 4.0%, Dollar General 4.2%; Q1 ’26: Cognizant Technology Solutions 4.0%, Citigroup 3.0%, Magna International 6.4%, Capital One Financial 2.7%, Baxter International 3.5%, Dollar General 2.7%; Q2 ’26: Cognizant Technology Solutions 3.0%, Citigroup 0.0%, Magna International 6.5%, Capital One Financial 0.0%, Baxter International 4.1%, Dollar General 3.5%
Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.
Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
5% stake filings
Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F.How this works
Pzena Investment Management’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.