Pzena Investment Management portfolio

What changed this quarter

145 positions with a change (8 new, 47 added to, 79 trimmed, 11 sold); also, 1 entered through an IPO. 6 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Globe Life+157%more sharesIncreased
  0.7% → 1.7%
• UBS Group−32%fewer sharesReduced
  2.7% → 1.8%
• Humana−17%fewer sharesReduced
  5.1% → 4.1%
• Magna International−11%fewer sharesReduced
  6.5% → 5.6%
• Skyworks Solutions−14%fewer sharesReduced
  3.2% → 3.5%
• Bristol-myers Squibb−16%fewer sharesReduced
  2.9% → 2.6%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Magna InternationalMGA5.6%
• Baxter InternationalBAX4.4%
• Cognizant Technology SolutionsCTSH4.2%
• HumanaHUM4.1%
• Skyworks SolutionsSWKS3.5%
• Dollar GeneralDG3.4%
• Corebridge FinancialCRBG3.3%
• AccentureACN3.3%
• Ss&c Technologies HoldingsSSNC3.0%
• MetLifeMET2.9%
• Global PaymentsGPN2.7%
• Tyson FoodsTSN2.6%
• Bristol-myers SquibbBMY2.6%
• CVS HealthCVS2.6%
• Capital One FinancialCOF2.5%
• AmdocsDOX2.4%
• PPG IndustriesPPG2.4%
• LearLEA2.3%
• Wells FargoWFC2.1%
• NOVNOV2.0%
• CitigroupC2.0%
• UBS GroupUBS1.8%
• Globe LifeGL1.7%
• LKQLKQ1.5%
• Universal Health ServicesUHS1.3%
• PVHPVH1.3%
• CDWCDW1.3%
• Fresenius Medical CareFMS1.1%
• WorkdayWDAY1.0%
• DowDOW1.0%
• Voya FinancialVOYA1.0%
• Equitable HoldingsEQH0.8%
• Bank of AmericaBAC0.8%
• MedtronicMDT0.8%
• Joint Stock Company Kaspi.kzKSPI0.8%
• CredicorpBAP0.7%
• Newell BrandsNWL0.7%
• ShellSHEL0.7%
• Magnum Ice CreamMICC0.6%
• Robert HalfRHI0.6%
• Advance Auto PartsAAP0.6%
• Delta Air LinesDAL0.6%
• Spectrum Brands HoldingsSPB0.5%
• KE HoldingsBEKE0.5%
• PfizerPFE0.5%
• AvnetAVT0.5%
• GlobantGLOB0.5%
• KTKT0.4%
• Cigna GroupCI0.4%
• Mohawk IndustriesMHK0.4%
• HalliburtonHAL0.4%
• MicrosoftMSFT0.4%
• GenpactG0.4%
• MasterBrandMBC0.3%
• JPMorgan ChaseJPM0.3%
• CNO Financial GroupCNO0.3%
• ZTO Express (Cayman)ZTO0.3%
• Walt DisneyDIS0.3%
• TE ConnectivityTEL0.3%
• Sensata Technologies HoldingST0.3%
• Exxon MobilXOM0.3%
• Elevance HealthELV0.3%
• ABM IndustriesABM0.3%
• ConcentrixCNXC0.2%
• GE Healthcare TechnologiesGEHC0.2%
• Fifth Third BancorpFITB0.2%
• Genuine PartsGPC0.2%
• TeleflexTFX0.2%
• Arcos Dorados HoldingsARCO0.2%
• Henry ScheinHSIC0.2%
• Constellation BrandsSTZ0.2%
• Old National BancorpONB0.2%
• Resideo TechnologiesREZI0.2%
• WSFS FinancialWSFS0.2%
• AdientADNT0.2%
• OlinOLN0.2%
• Marcus & MillichapMMI0.2%
• Korn FerryKFY0.2%
• Columbia Banking SystemCOLB0.2%
• MillerKnollMLKN0.2%
• Associated Banc-CorpASB0.2%
• ScanSourceSCSC0.2%
• TargetTGT0.2%
• Douglas DynamicsPLOW0.2%
• OshkoshOSK0.2%
• Regions FinancialRF0.1%
• Aebi Schmidt HoldingAEBI0.1%
• Winnebago IndustriesWGO0.1%
• DNOWDNOW0.1%
• HCA HealthcareHCA0.1%
• HuntsmanHUN0.1%
• Koppers HoldingsKOP0.1%
• Haverty Furniture CompaniesHVT0.1%
• Malibu BoatsMBUU0.1%
• CBRE GroupCBRE0.1%
• Healthcare Realty TrustHR0.1%
• Morgan StanleyMS0.1%
• Hdfc BankHDB0.1%
• General DynamicsGD0.1%
• GenescoGCO0.1%