Rich Pzena's deep-value shop - the cheapest quintile of large-caps, bought when they are most out of favor.
| # | Holding | Our call | % of book | Value | Shares | QoQ |
|---|---|---|---|---|---|---|
| 1 | MGA | — | 6.4% | $1.97B | 25.3M | Trimmed-13% |
| 2 | CTSH | Buy | 4.0% | $1.24B | 20.3M | Added+15% |
| 3 | TSN | Hold | 3.6% | $1.10B | 17.2M | Added+12% |
| 4 | BAX | Sell | 3.5% | $1.08B | 64.5M | Trimmed-8% |
| 5 | BMY | Hold | 3.4% | $1.04B | 17.1M | Trimmed-5% |
| 6 | CVS | Hold | 3.2% | $989M | 13.8M | Trimmed-12% |
| 7 | HUM | Hold | 3.1% | $949M | 5.47M | Added+34% |
| 8 | C | Hold | 3.0% | $927M | 8.18M | Trimmed-23% |
| 9 | SWKS | Hold | 2.8% | $863M | 16.1M | Added+28% |
| 10 | COF | Buy | 2.7% | $836M | 4.58M | Trimmed-9% |
| 11 | DOX | — | 2.7% | $828M | 12.7M | Added+5% |
| 12 | DG | Buy | 2.7% | $819M | 6.90M | Trimmed-35% |
| 13 | LEA | Hold | 2.7% | $818M | 6.76M | Trimmed-9% |
| 14 | UBS | — | 2.6% | $816M | 26.5M | Trimmed-11% |
| 15 | MET | Hold | 2.6% | $799M | 11.3M | Trimmed-5% |
| 16 | PPG | Hold | 2.6% | $799M | 7.48M | Added+5% |
| 17 | DOW | Sell | 2.6% | $789M | 18.9M | Trimmed-31% |
| 18 | GPN | Hold | 2.5% | $782M | 11.6M | Added+2% |
| 19 | NOV | Hold | 2.3% | $706M | 37.5M | Trimmed-11% |
| 20 | WFC | Buy | 2.3% | $698M | 8.77M | Trimmed-12% |
| 21 | SSNC | Buy | 2.1% | $655M | 9.70M | Trimmed-6% |
| 22 | CRBG | Hold | 2.1% | $645M | 27.0M | Added+14% |
| 23 | NOK | — | 1.7% | $510M | 63.4M | Trimmed-31% |
| 24 | ACN | Buy | 1.5% | $477M | 2.41M | Added+84% |
| 25 | PVH | — | 1.3% | $402M | 5.77M | Trimmed-7% |
| 26 | AVT | Hold | 1.1% | $351M | 5.69M | Trimmed-19% |
| 27 | UHS | Buy | 1.1% | $342M | 1.91M | Trimmed-9% |
| 28 | FMS | — | 1.1% | $340M | 15.1M | Added+2% |
| 29 | BAC | Hold | 1.0% | $313M | 6.42M | — |
| 30 | BAP | — | 1.0% | $309M | 912K | Trimmed-15% |
| 31 | SHEL | — | 1.0% | $297M | 3.20M | Trimmed-2% |
| 32 | MDT | Buy | 0.9% | $274M | 3.16M | Trimmed-2% |
| 33 | VOYA | Buy | 0.8% | $251M | 3.67M | Added+1% |
| 34 | AAP | — | 0.7% | $227M | 4.30M | Added+8% |
| 35 | KSPI | — | 0.6% | $198M | 2.67M | Trimmed-1% |
| 36 | ZTO | — | 0.6% | $188M | 7.46M | Trimmed-2% |
| 37 | DAL | Buy | 0.6% | $187M | 2.81M | Trimmed-6% |
| 38 | LKQ CORP | — | 0.6% | $183M | 6.23M | Added+42% |
| 39 | SPB | — | 0.6% | $172M | 2.34M | Trimmed-3% |
| 40 | PFE | Hold | 0.5% | $166M | 5.92M | Trimmed-9% |
| 41 | EQH | Hold | 0.5% | $166M | 4.46M | Added+3% |
| 42 | NWL | — | 0.5% | $164M | 47.8M | Trimmed-4% |
| 43 | HAL | Hold | 0.5% | $159M | 4.07M | Trimmed-24% |
| 44 | CI | Buy | 0.5% | $154M | 578K | Added+1% |
| 45 | KT | — | 0.5% | $154M | 7.18M | NEW |
| 46 | RHI | — | 0.5% | $152M | 5.97M | Added+36% |
| 47 | GL | Buy | 0.5% | $143M | 1.03M | Added+5% |
| 48 | GLOB | — | 0.4% | $137M | 2.97M | NEW |
| 49 | CDW | Buy | 0.4% | $135M | 1.12M | NEW |
| 50 | OLN | — | 0.4% | $132M | 4.43M | Trimmed-2% |
| 51 | TEL | Hold | 0.4% | $126M | 604K | Trimmed-26% |
| 52 | ST | Hold | 0.4% | $123M | 3.48M | — |
| 53 | MHK | Buy | 0.4% | $114M | 1.15M | Trimmed-3% |
| 54 | XOM | Hold | 0.3% | $105M | 617K | Trimmed-7% |
| 55 | CSCO | Sell | 0.3% | $102M | 1.31M | Trimmed-6% |
| 56 | CNO FINL GROUP INC | — | 0.3% | $101M | 2.47M | — |
| 57 | JPM | Hold | 0.3% | $99.2M | 337K | Trimmed-1% |
| 58 | WAB | Hold | 0.3% | $91.9M | 368K | — |
| 59 | MICC | — | 0.3% | $89.4M | 7.04M | NEW |
| 60 | CONSTELLATION BRANDS INC | — | 0.3% | $89.4M | 596K | Added+1% |
| 61 | ARCO | — | 0.3% | $88.6M | 10.7M | Added+2% |
| 62 | TELEFLEX INCORPORATED | — | 0.3% | $83.6M | 699K | Added+84% |
| 63 | CNXC | — | 0.3% | $80.5M | 2.94M | — |
| 64 | MS | Hold | 0.3% | $78.4M | 476K | — |
| 65 | HUN | — | 0.3% | $77.4M | 5.82M | Added+2% |
| 66 | FITB | Hold | 0.2% | $76.0M | 1.64M | Added+74% |
| 67 | ADNT | — | 0.2% | $73.5M | 3.64M | Trimmed-1% |
| 68 | KNX | Hold | 0.2% | $72.5M | 1.26M | — |
| 69 | DOUGLAS DYNAMICS INC | — | 0.2% | $67.1M | 1.59M | Trimmed-25% |
| 70 | AMERICAN WOODMARK CORP | — | 0.2% | $65.5M | 1.64M | Added+43% |
| 71 | HSIC | Hold | 0.2% | $65.4M | 888K | — |
| 72 | OSK | Buy | 0.2% | $64.6M | 439K | Trimmed-15% |
| 73 | ELV | Hold | 0.2% | $64.5M | 220K | Added+2% |
| 74 | GPC | Hold | 0.2% | $60.7M | 574K | Trimmed-5% |
| 75 | ONB | Hold | 0.2% | $59.5M | 2.69M | Added+7% |
| 76 | ABM | — | 0.2% | $58.7M | 1.52M | Added+30% |
| 77 | WSFS | — | 0.2% | $57.5M | 879K | — |
| 78 | COLUMBIA BKG SYS INC | — | 0.2% | $55.8M | 2.03M | Added+13% |
| 79 | MMI | — | 0.2% | $53.5M | 2.01M | Added+228% |
| 80 | KFY | — | 0.2% | $50.2M | 797K | — |
| 81 | JNJ | Hold | 0.2% | $49.9M | 204K | Trimmed-17% |
| 82 | ASB | Buy | 0.2% | $49.7M | 1.92M | Added+10% |
| 83 | GOOGL | Buy | 0.2% | $49.2M | 171K | — |
| 84 | RF | Buy | 0.2% | $48.1M | 1.84M | — |
| 85 | KOP | — | 0.2% | $46.8M | 1.21M | — |
| 86 | REZI | Hold | 0.2% | $46.4M | 1.38M | — |
| 87 | BFH | — | 0.1% | $46.0M | 614K | Trimmed-4% |
| 88 | TGT | Hold | 0.1% | $45.3M | 373K | — |
| 89 | HCA | Buy | 0.1% | $44.6M | 94.3K | Trimmed-7% |
| 90 | MALIBU BOATS INC | — | 0.1% | $44.0M | 1.70M | Trimmed-1% |
| 91 | VAREX IMAGING CORP | — | 0.1% | $42.4M | 3.99M | — |
| 92 | SHG | — | 0.1% | $42.4M | 691K | Trimmed-24% |
| 93 | MSM | Hold | 0.1% | $41.0M | 445K | — |
| 94 | CBRE | Buy | 0.1% | $40.9M | 302K | Added+2% |
| 95 | NVST | — | 0.1% | $40.7M | 1.60M | Trimmed-31% |
| 96 | AEBI | — | 0.1% | $39.9M | 4.11M | Trimmed-3% |
| 97 | LEIDOS HOLDINGS INC | — | 0.1% | $38.6M | 248K | Added+2% |
| 98 | HR | Hold | 0.1% | $37.8M | 2.23M | — |
| 99 | HDB | — | 0.1% | $37.8M | 1.52M | Added+81% |
| 100 | GD | Buy | 0.1% | $36.9M | 107K | Trimmed-63% |
| 101 | DNOW | — | 0.1% | $36.9M | 3.10M | Trimmed-26% |
| 102 | AIG | Hold | 0.1% | $33.8M | 450K | Added+2% |
| 103 | KEY | Hold | 0.1% | $33.3M | 1.66M | — |
| 104 | SCSC | — | 0.1% | $33.2M | 913K | — |
| 105 | MBC | — | 0.1% | $31.7M | 3.81M | — |
| 106 | GCO | — | 0.1% | $31.3M | 1.08M | Trimmed-13% |
| 107 | WESCO INTL INC | — | 0.1% | $31.1M | 114K | — |
| 108 | HVT | — | 0.1% | $30.9M | 1.46M | — |
| 109 | WGO | — | 0.1% | $30.8M | 993K | Added+7% |
| 110 | ARROW ELECTRS INC | — | 0.1% | $30.3M | 211K | — |
| 111 | OEC | — | 0.1% | $29.9M | 4.60M | — |
| 112 | UVSP | — | 0.1% | $28.9M | 842K | Trimmed-2% |
| 113 | MLKN | — | 0.1% | $28.9M | 2.00M | NEW |
| 114 | SOLV | Buy | 0.1% | $28.7M | 440K | Added+1% |
| 115 | WBS | Buy | 0.1% | $28.4M | 409K | Trimmed-75% |
| 116 | G | Buy | 0.1% | $27.3M | 732K | — |
| 117 | MYERS INDS INC | — | 0.1% | $27.2M | 1.28M | Trimmed-1% |
| 118 | DIAMONDROCK HOSPITALITY CO | — | 0.1% | $26.6M | 2.83M | Trimmed-47% |
| 119 | USNA | — | 0.1% | $19.4M | 1.11M | Trimmed-2% |
| 120 | HOFT | — | 0.1% | $17.8M | 1.38M | — |
| 121 | UVV | — | 0.1% | $17.4M | 329K | — |
| 122 | ABEV | — | 0.0% | $13.8M | 4.72M | Added+7% |
| 123 | TBI | — | 0.0% | $11.2M | 2.87M | — |
| 124 | HELE | — | 0.0% | $11.0M | 761K | Trimmed-20% |
| 125 | MAN | — | 0.0% | $10.3M | 351K | — |
| 126 | DIS | Hold | 0.0% | $8.70M | 90.2K | — |
| 127 | TSM | — | 0.0% | $6.42M | 19.0K | Trimmed-28% |
| 128 | BIDU | — | 0.0% | $5.43M | 48.8K | Trimmed-14% |
| 129 | PBRA | — | 0.0% | $3.69M | 197K | Added+58% |
| 130 | BABA | — | 0.0% | $3.57M | 28.4K | Added+12% |
| 131 | VALE | — | 0.0% | $3.00M | 189K | Added+9% |
| 132 | CIG | — | 0.0% | $2.58M | 1.08M | — |
| 133 | ING | — | 0.0% | $2.10M | 80.7K | Added+17% |
| 134 | HSBC | — | 0.0% | $1.98M | 23.9K | Added+5% |
| 135 | KB | — | 0.0% | $1.90M | 19.0K | — |
| 136 | ITUB | — | 0.0% | $1.89M | 225K | — |
| 137 | TTE | — | 0.0% | $1.79M | 22.1K | Added+7% |
| 138 | EQNR | — | 0.0% | $1.71M | 40.5K | Added+37% |
| 139 | PHG | — | 0.0% | $1.14M | 41.6K | Added+13% |
| 140 | GSK | — | 0.0% | $1.04M | 18.8K | Added+40% |
| 141 | MT | — | 0.0% | $957K | 18.4K | Trimmed-47% |
| 142 | SNY | — | 0.0% | $920K | 19.1K | Added+62% |
| 143 | SMFG | — | 0.0% | $643K | 32.5K | Added+14% |
| 144 | TAK | — | 0.0% | $525K | 28.4K | Added+37% |
| 145 | BCS | — | 0.0% | $379K | 17.9K | Trimmed-60% |
| 146 | TRS | — | 0.0% | $357K | 9.92K | Trimmed-98% |
| 147 | CRUS | Buy | 0.0% | $306K | 2.11K | Trimmed-5% |
| 148 | MRK | Hold | 0.0% | $302K | 2.51K | Trimmed-24% |
| 149 | HOLOGIC INC | — | 0.0% | $300K | 3.96K | Trimmed-4% |
| 150 | HIG | Buy | 0.0% | $288K | 2.13K | — |
| 151 | MSFT | Buy | 0.0% | $282K | 762.00 | NEW |
| 152 | HALO | Buy | 0.0% | $262K | 4.05K | Trimmed-5% |
| 153 | ADBE | Buy | 0.0% | $246K | 1.01K | Added+21% |
| 154 | ADSK | Buy | 0.0% | $244K | 1.02K | NEW |
| 155 | INTU | Buy | 0.0% | $242K | 560.00 | NEW |
| 156 | DOCU | Hold | 0.0% | $214K | 4.51K | — |
| 157 | GE | Hold | 0.0% | $209K | 736.00 | — |
| 158 | TMUS | Buy | 0.0% | $205K | 975.00 | NEW |
Source: SEC Form 13F-HR. Positions are as-of quarter end (filed up to 45 days later) and cover US-listed equities only — shorts, non-US listings and most derivatives don’t appear. Values as reported by the filer. “Our call” is TENK/calls’s independent SEC-grounded verdict, not the fund’s view.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.