# EDGAR Filing Document

**Accession Number:** 0001027796
**File Stem:** 0001027796-26-000024
**Filing Date:** 2026-4
**Character Count:** 23836
**Document Hash:** 8ee72a0b9e2c2cfcf6f4a8c68a3e78fe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001027796-26-000024.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001027796-26-000024

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**EFFECTIVENESS DATE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PZENA INVESTMENT MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001027796

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03791
- **FILM NUMBER:** 26893440

**BUSINESS ADDRESS:**
- **STREET 1:** 320 PARK AVENUE, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-355-1600

**MAIL ADDRESS:**
- **STREET 1:** 320 PARK AVENUE, 8TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** PZENA INVESTMENT MANAGEMENT LLC<br>**Address:** 320 PARK AVENUE 8TH FLOOR<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-03791

**SEC File Number (if applicable):** 028-03791

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Steven Coffey<br>**Title:** Chief Legal Risk Officer  Chief Compliance Officer<br>**Phone:** 2123551600

**Signature, Place, and Date of Signing:**

/s/ Steven Coffey  New York, NY  04-24-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[x] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 192

**Form 13F Information Table Value Total:** $30796447662

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

|   No. | Name                           | Form 13F File Number   | CRD Number   | SEC File Number   |
|---:|:---|:---|:---|:---|
|     1 | Russell Investments Group Ltd. | 028-17598              |  | 028-17598         |
|     2 | ABN AMRO INVESTMENT SOLUTIONS  | 028-25693              |  | 028-25693         |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABM INDS INC | COM | 000957100 |  | 58663495 | 1522936 | SH |  | SOLE |  | 1133230 | 0 | 389706 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 4030244 | 20325 | SH |  | DFND | 1 | 0 | 0 | 20325 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 472992562 | 2385358 | SH |  | SOLE |  | 1276508 | 0 | 1108850 |
| ADIENT PLC | ORD SHS | G0084W101 |  | 73469352 | 3635297 | SH |  | SOLE |  | 2640522 | 0 | 994775 |
| ADOBE INC | COM | 00724F101 |  | 245511 | 1010 | SH |  | SOLE |  | 1010 | 0 | 0 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 |  | 226882445 | 4301089 | SH |  | SOLE |  | 3715147 | 0 | 585942 |
| AEBI SCHMIDT HLDG AG | COM | H00501108 |  | 39916354 | 4110850 | SH |  | SOLE |  | 3487659 | 0 | 623191 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 3567394 | 28435 | SH |  | SOLE |  | 23849 | 0 | 4586 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 49217907 | 171157 | SH |  | SOLE |  | 22730 | 0 | 148427 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 13774599 | 4717328 | SH |  | SOLE |  | 4261083 | 0 | 456245 |
| AMDOCS LTD | SHS | G02602103 |  | 10434943 | 159898 | SH |  | DFND | 1 | 0 | 0 | 159898 |
| AMDOCS LTD | SHS | G02602103 |  | 817132925 | 12521191 | SH |  | SOLE |  | 10325600 | 0 | 2195591 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 33843612 | 449749 | SH |  | SOLE |  | 417610 | 0 | 32139 |
| AMERICAN WOODMARK CORP | COM | 030506109 |  | 65463074 | 1643562 | SH |  | SOLE |  | 1260078 | 0 | 383484 |
| ARCELORMITTAL SA LUXEMBOURG | NY REGISTRY SH | 03938L203 |  | 956894 | 18409 | SH |  | SOLE |  | 12501 | 0 | 5908 |
| ARCOS DORADOS HLDGS INC | SHS CLASS -A - | G0457F107 |  | 88614620 | 10741166 | SH |  | SOLE |  | 6410009 | 0 | 4331157 |
| ARROW ELECTRS INC | COM | 042735100 |  | 30266394 | 211048 | SH |  | SOLE |  | 211048 | 0 | 0 |
| ASSOCIATED BANC-CORP | COM | 045487105 |  | 49728315 | 1922982 | SH |  | SOLE |  | 1481061 | 0 | 441921 |
| AUTODESK INC | COM | 052769106 |  | 243709 | 1018 | SH |  | SOLE |  | 1018 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 350755213 | 5692230 | SH |  | SOLE |  | 4382714 | 0 | 1309516 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 5433619 | 48767 | SH |  | SOLE |  | 48767 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 12811354 | 262797 | SH |  | DFND | 1 | 0 | 0 | 262797 |
| BANK AMERICA CORP | COM | 060505104 |  | 300297904 | 6159957 | SH |  | SOLE |  | 5241416 | 0 | 918541 |
| BARCLAYS PLC | ADR | 06738E204 |  | 378519 | 17888 | SH |  | SOLE |  | 9980 | 0 | 7908 |
| BAXTER INTL INC | COM | 071813109 |  | 18192082 | 1082862 | SH |  | DFND | 1 | 0 | 0 | 1082862 |
| BAXTER INTL INC | COM | 071813109 |  | 1065875345 | 63444961 | SH |  | SOLE |  | 53110244 | 0 | 10334717 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 |  | 45957971 | 613673 | SH |  | SOLE |  | 434870 | 0 | 178803 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 14954228 | 246566 | SH |  | DFND | 1 | 0 | 0 | 246566 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1021901857 | 16849165 | SH |  | SOLE |  | 13907872 | 0 | 2941293 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 12758242 | 69935 | SH |  | DFND | 1 | 0 | 0 | 69935 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 822793050 | 4510185 | SH |  | SOLE |  | 3830359 | 0 | 679826 |
| CBRE GROUP INC | CL A | 12504L109 |  | 40891446 | 301871 | SH |  | SOLE |  | 282301 | 0 | 19570 |
| CDW CORP | COM | 12514G108 |  | 4582785 | 37868 | SH |  | DFND | 1 | 0 | 0 | 37868 |
| CDW CORP | COM | 12514G108 |  | 130419260 | 1077667 | SH |  | SOLE |  | 1024865 | 0 | 52802 |
| CIA ENERGETICA DE MINAS GERA | SP ADR N-V PFD | 204409601 |  | 2583074 | 1080784 | SH |  | SOLE |  | 1080784 | 0 | 0 |
| CIRRUS LOGIC INC | COM | 172755100 |  | 305727 | 2114 | SH |  | SOLE |  | 2114 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 101545137 | 1308740 | SH |  | SOLE |  | 837047 | 0 | 471693 |
| CITIGROUP INC | COM NEW | 172967424 |  | 16814960 | 148267 | SH |  | DFND | 1 | 0 | 0 | 148267 |
| CITIGROUP INC | COM NEW | 172967424 |  | 910353071 | 8027097 | SH |  | SOLE |  | 6730315 | 0 | 1296782 |
| CNO FINL GROUP INC | COM | 12621E103 |  | 101456016 | 2470921 | SH |  | SOLE |  | 2109724 | 0 | 361197 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 11826746 | 192775 | SH |  | DFND | 1 | 0 | 0 | 192775 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 1231269162 | 20069587 | SH |  | SOLE |  | 16457588 | 0 | 3611999 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 55771197 | 2033219 | SH |  | SOLE |  | 1731622 | 0 | 301597 |
| CONCENTRIX CORP | COM | 20602D101 |  | 80526280 | 2943212 | SH |  | SOLE |  | 2563584 | 0 | 379628 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 89369250 | 595795 | SH |  | SOLE |  | 557831 | 0 | 37964 |
| COREBRIDGE FINL INC | COM | 21871X109 |  | 12174541 | 510249 | SH |  | DFND | 1 | 0 | 0 | 510249 |
| COREBRIDGE FINL INC | COM | 21871X109 |  | 633138104 | 26535545 | SH |  | SOLE |  | 22857809 | 0 | 3677736 |
| CREDICORP LTD | COM | G2519Y108 |  | 309352511 | 912060 | SH |  | SOLE |  | 593386 | 0 | 318674 |
| CVS HEALTH CORP | COM | 126650100 |  | 19666758 | 273834 | SH |  | DFND | 1 | 0 | 0 | 273834 |
| CVS HEALTH CORP | COM | 126650100 |  | 969513909 | 13499219 | SH |  | SOLE |  | 11671226 | 0 | 1827993 |
| DELTA AIR LINES INC | COM NEW | 247361702 |  | 8337257 | 125410 | SH |  | DFND | 1 | 0 | 0 | 125410 |
| DELTA AIR LINES INC | COM NEW | 247361702 |  | 178316445 | 2682257 | SH |  | SOLE |  | 2490457 | 0 | 191800 |
| DIAMONDROCK HOSPITALITY CO | COM | 252784301 |  | 26560005 | 2834579 | SH |  | SOLE |  | 2834579 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 8695307 | 90219 | SH |  | SOLE |  | 2544 | 0 | 87675 |
| DNOW INC | COM | 67011P100 |  | 36865202 | 3095315 | SH |  | SOLE |  | 2309437 | 0 | 785878 |
| DOCUSIGN INC | COM | 256163106 |  | 213819 | 4510 | SH |  | SOLE |  | 4510 | 0 | 0 |
| DOLLAR GEN CORP | COM | 256677105 |  | 11747146 | 98940 | SH |  | DFND | 1 | 0 | 0 | 98940 |
| DOLLAR GEN CORP | COM | 256677105 |  | 807197897 | 6798601 | SH |  | SOLE |  | 5784787 | 0 | 1013814 |
| DOUGLAS DYNAMICS INC | COM | 25960R105 |  | 67054968 | 1593133 | SH |  | SOLE |  | 1173438 | 0 | 419695 |
| DOW HLDGS INC | COM | 260557103 |  | 13100966 | 314549 | SH |  | DFND | 1 | 0 | 0 | 314549 |
| DOW HLDGS INC | COM | 260557103 |  | 776066657 | 18633053 | SH |  | SOLE |  | 15380631 | 0 | 3252422 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 64456524 | 220176 | SH |  | SOLE |  | 201402 | 0 | 18774 |
| ENVISTA HOLDINGS CORPORATION | COM | 29415F104 |  | 40698453 | 1604196 | SH |  | SOLE |  | 1217065 | 0 | 387131 |
| EQUINOR ASA | SPONSORED ADR | 29446M102 |  | 1709788 | 40516 | SH |  | SOLE |  | 40516 | 0 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 4325022 | 116546 | SH |  | DFND | 1 | 0 | 0 | 116546 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 161346895 | 4347801 | SH |  | SOLE |  | 4082500 | 0 | 265301 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 104704651 | 617144 | SH |  | SOLE |  | 576400 | 0 | 40744 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 76000058 | 1635817 | SH |  | SOLE |  | 1635817 | 0 | 0 |
| FRESENIUS MEDICAL CARE AG | SPONSORED ADR | 358029106 |  | 16671118 | 738968 | SH |  | DFND | 1 | 0 | 0 | 738968 |
| FRESENIUS MEDICAL CARE AG | SPONSORED ADR | 358029106 |  | 322920535 | 14313854 | SH |  | SOLE |  | 13640242 | 0 | 673612 |
| GE AEROSPACE | COM NEW | 369604301 |  | 208855 | 736 | SH |  | SOLE |  | 736 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 36884824 | 107467 | SH |  | SOLE |  | 99706 | 0 | 7761 |
| GENESCO INC | COM | 371532102 |  | 31326072 | 1080582 | SH |  | SOLE |  | 758235 | 0 | 322347 |
| GENPACT LIMITED | SHS | G3922B107 |  | 27269012 | 732054 | SH |  | SOLE |  | 732054 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 60709806 | 574088 | SH |  | SOLE |  | 527800 | 0 | 46288 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 12224641 | 181644 | SH |  | DFND | 1 | 0 | 0 | 181644 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 769503691 | 11433933 | SH |  | SOLE |  | 10014697 | 0 | 1419236 |
| GLOBANT S A | COM | L44385109 |  | 136892659 | 2968828 | SH |  | SOLE |  | 1915807 | 0 | 1053021 |
| GLOBE LIFE INC | COM | 37959E102 |  | 142822656 | 1026246 | SH |  | SOLE |  | 982441 | 0 | 43805 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 1038836 | 18823 | SH |  | SOLE |  | 18823 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 |  | 158573929 | 4067041 | SH |  | SOLE |  | 3819147 | 0 | 247894 |
| HALOZYME THERAPEUTICS INC | COM | 40637H109 |  | 261687 | 4049 | SH |  | SOLE |  | 4049 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 287634 | 2127 | SH |  | SOLE |  | 2127 | 0 | 0 |
| HAVERTY FURNITURE COS INC | COM | 419596101 |  | 30925935 | 1460148 | SH |  | SOLE |  | 1066017 | 0 | 394131 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 44608076 | 94261 | SH |  | SOLE |  | 88777 | 0 | 5484 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 37805185 | 1519501 | SH |  | SOLE |  | 1109314 | 0 | 410187 |
| HEALTHCARE RLTY TR | CL A COM | 42226K105 |  | 37810056 | 2225430 | SH |  | SOLE |  | 2225430 | 0 | 0 |
| HELEN OF TROY LTD | COM | G4388N106 |  | 10976115 | 761173 | SH |  | SOLE |  | 669835 | 0 | 91338 |
| HOLOGIC INC | COM | 436440101 |  | 299639 | 3964 | SH |  | SOLE |  | 3964 | 0 | 0 |
| HOOKER FURNISHINGS CORPORATI | COM | 439038100 |  | 17757978 | 1378725 | SH |  | SOLE |  | 1212457 | 0 | 166268 |
| HSBC HLDGS PLC | SPON ADR NEW | 404280406 |  | 1975650 | 23950 | SH |  | SOLE |  | 14918 | 0 | 9032 |
| HUMANA INC | COM | 444859102 |  | 16072039 | 92693 | SH |  | DFND | 1 | 0 | 0 | 92693 |
| HUMANA INC | COM | 444859102 |  | 932541530 | 5378289 | SH |  | SOLE |  | 4609773 | 0 | 768516 |
| HUNTSMAN CORP | COM | 447011107 |  | 77415738 | 5816359 | SH |  | SOLE |  | 4814261 | 0 | 1002098 |
| ING GROEP N.V. | SPONSORED ADR | 456837103 |  | 2102174 | 80698 | SH |  | SOLE |  | 47982 | 0 | 32716 |
| INTUIT | COM | 461202103 |  | 242133 | 560 | SH |  | SOLE |  | 560 | 0 | 0 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 |  | 1886816 | 225157 | SH |  | SOLE |  | 225157 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 49857205 | 203965 | SH |  | SOLE |  | 191350 | 0 | 12615 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 99208990 | 337262 | SH |  | SOLE |  | 299047 | 0 | 38215 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 197943705 | 2672387 | SH |  | SOLE |  | 1613168 | 0 | 1059219 |
| KB FINL GROUP INC | SPONSORED ADR | 48241A105 |  | 1897164 | 19023 | SH |  | SOLE |  | 19023 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 33261045 | 1658905 | SH |  | SOLE |  | 1658905 | 0 | 0 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 72539917 | 1259811 | SH |  | SOLE |  | 1259811 | 0 | 0 |
| KONINKLIJKE PHILIPS N V | NY REGIS SHS NEW | 500472303 |  | 1141016 | 41643 | SH |  | SOLE |  | 21517 | 0 | 20126 |
| KOPPERS HOLDINGS INC | COM | 50060P106 |  | 46778664 | 1209376 | SH |  | SOLE |  | 1033602 | 0 | 175774 |
| KORN FERRY | COM NEW | 500643200 |  | 50198722 | 797438 | SH |  | SOLE |  | 571012 | 0 | 226426 |
| KT CORP | SPONSORED ADR | 48268K101 |  | 153915483 | 7175547 | SH |  | SOLE |  | 4505706 | 0 | 2669841 |
| LEAR CORP | COM NEW | 521865204 |  | 14393748 | 118878 | SH |  | DFND | 1 | 0 | 0 | 118878 |
| LEAR CORP | COM NEW | 521865204 |  | 803926037 | 6639627 | SH |  | SOLE |  | 5893266 | 0 | 746361 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 38559162 | 247937 | SH |  | SOLE |  | 232531 | 0 | 15406 |
| LKQ CORP | COM | 501889208 |  | 183060273 | 6232900 | SH |  | SOLE |  | 3412960 | 0 | 2819940 |
| MAGNA INTL INC | COM | 559222401 |  | 19075536 | 245534 | SH |  | DFND | 1 | 0 | 0 | 245534 |
| MAGNA INTL INC | COM | 559222401 |  | 1948762071 | 25083821 | SH |  | SOLE |  | 19156974 | 0 | 5926847 |
| MAGNUM ICE CREAM CO NV | ORD SHS | N5505D105 |  | 89429937 | 7036187 | SH |  | SOLE |  | 3022175 | 0 | 4014012 |
| MALIBU BOATS INC | COM CL A | 56117J100 |  | 43998085 | 1697457 | SH |  | SOLE |  | 1208200 | 0 | 489257 |
| MANPOWERGROUP INC WIS | COM | 56418H100 |  | 10344025 | 351121 | SH |  | SOLE |  | 351121 | 0 | 0 |
| MARCUS  MILLICHAP INC | COM | 566324109 |  | 53519368 | 2012763 | SH |  | SOLE |  | 1552372 | 0 | 460391 |
| MASTERBRAND INC | COMMON STOCK | 57638P104 |  | 31694456 | 3814014 | SH |  | SOLE |  | 2737496 | 0 | 1076518 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 9308896 | 107431 | SH |  | DFND | 1 | 0 | 0 | 107431 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 264246442 | 3049584 | SH |  | SOLE |  | 2247613 | 0 | 801971 |
| MERCK  CO INC | COM | 58933Y105 |  | 302048 | 2511 | SH |  | SOLE |  | 2511 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 13685169 | 193512 | SH |  | DFND | 1 | 0 | 0 | 193512 |
| METLIFE INC | COM | 59156R108 |  | 785720911 | 11110307 | SH |  | SOLE |  | 9651271 | 0 | 1459036 |
| MICROSOFT CORP | COM | 594918104 |  | 282070 | 762 | SH |  | SOLE |  | 762 | 0 | 0 |
| MILLERKNOLL INC | COM | 600544100 |  | 28858357 | 1995737 | SH |  | SOLE |  | 1513915 | 0 | 481822 |
| MOHAWK INDS INC | COM | 608190104 |  | 113506066 | 1152814 | SH |  | SOLE |  | 1076575 | 0 | 76239 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 78395388 | 476365 | SH |  | SOLE |  | 440934 | 0 | 35431 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 41024165 | 444610 | SH |  | SOLE |  | 444610 | 0 | 0 |
| MYERS INDS INC | COM | 628464109 |  | 27207510 | 1284585 | SH |  | SOLE |  | 1085279 | 0 | 199306 |
| NEWELL BRANDS INC | COM | 651229106 |  | 2686897 | 783352 | SH |  | DFND | 1 | 0 | 0 | 783352 |
| NEWELL BRANDS INC | COM | 651229106 |  | 161277170 | 47019583 | SH |  | SOLE |  | 40755972 | 0 | 6263611 |
| NOKIA CORP | SPONSORED ADR | 654902204 |  | 509941161 | 63425518 | SH |  | SOLE |  | 41392468 | 0 | 22033050 |
| NOV INC | COM | 62955J103 |  | 8311462 | 441864 | SH |  | DFND | 1 | 0 | 0 | 441864 |
| NOV INC | COM | 62955J103 |  | 697730334 | 37093585 | SH |  | SOLE |  | 31240228 | 0 | 5853357 |
| OLD NATL BANCORP IND | COM | 680033107 |  | 59529488 | 2693642 | SH |  | SOLE |  | 2002595 | 0 | 691047 |
| OLIN CORP | COM PAR $1 | 680665205 |  | 131751854 | 4431613 | SH |  | SOLE |  | 4036958 | 0 | 394655 |
| ORION S.A. | COM | L72967109 |  | 29899396 | 4599907 | SH |  | SOLE |  | 4038492 | 0 | 561415 |
| OSHKOSH CORP | COM | 688239201 |  | 64603992 | 438856 | SH |  | SOLE |  | 438856 | 0 | 0 |
| PETROLEO BRASILEIRO S A | SP ADR NON VTG | 71654V101 |  | 3693188 | 196970 | SH |  | SOLE |  | 196970 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 10309656 | 367153 | SH |  | DFND | 1 | 0 | 0 | 367153 |
| PFIZER INC | COM | 717081103 |  | 156061311 | 5557739 | SH |  | SOLE |  | 5237388 | 0 | 320351 |
| PPG INDS INC | COM | 693506107 |  | 13737286 | 128530 | SH |  | DFND | 1 | 0 | 0 | 128530 |
| PPG INDS INC | COM | 693506107 |  | 785580398 | 7350116 | SH |  | SOLE |  | 6283370 | 0 | 1066746 |
| PVH CORPORATION | COM | 693656100 |  | 3944788 | 56548 | SH |  | DFND | 1 | 0 | 0 | 56548 |
| PVH CORPORATION | COM | 693656100 |  | 398494094 | 5712358 | SH |  | SOLE |  | 4823044 | 0 | 889314 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 48056229 | 1839825 | SH |  | SOLE |  | 1839825 | 0 | 0 |
| RESIDEO TECHNOLOGIES INC | COM | 76118Y104 |  | 46419681 | 1377030 | SH |  | SOLE |  | 943593 | 0 | 433437 |
| ROBERT HALF INC. | COM | 770323103 |  | 151555044 | 5966734 | SH |  | SOLE |  | 5384171 | 0 | 582563 |
| SANOFI SA | SPONSORED ADR | 80105N105 |  | 919636 | 19088 | SH |  | SOLE |  | 19088 | 0 | 0 |
| SCANSOURCE INC | COM | 806037107 |  | 33150576 | 913239 | SH |  | SOLE |  | 773172 | 0 | 140067 |
| SCHEIN HENRY INC | COM | 806407102 |  | 65418994 | 887639 | SH |  | SOLE |  | 887639 | 0 | 0 |
| SENSATA TECHNOLOGIES HLDG PL | SHS | G8060N102 |  | 122645409 | 3482266 | SH |  | SOLE |  | 2973697 | 0 | 508569 |
| SHELL PLC | SPON ADS | 780259305 |  | 12871107 | 138399 | SH |  | DFND | 1 | 0 | 0 | 138399 |
| SHELL PLC | SPON ADS | 780259305 |  | 284398604 | 3058050 | SH |  | SOLE |  | 2893468 | 0 | 164582 |
| SHINHAN FINANCIAL GROUP CO L | SPN ADR RESTRD | 824596100 |  | 42350740 | 690651 | SH |  | SOLE |  | 640425 | 0 | 50226 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 13747410 | 256721 | SH |  | DFND | 1 | 0 | 0 | 256721 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 848843380 | 15851417 | SH |  | SOLE |  | 13506926 | 0 | 2344491 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 28726645 | 439918 | SH |  | SOLE |  | 439918 | 0 | 0 |
| SPECTRUM BRANDS HOLDINGS INC | COM | 84790A105 |  | 172341775 | 2338423 | SH |  | SOLE |  | 1952334 | 0 | 386089 |
| SS TECH HLDGS | COM | 78467J100 |  | 655378998 | 9699260 | SH |  | SOLE |  | 8043628 | 0 | 1655632 |
| SUMITOMO MITSUI FIN GRP INC | SPONSORED ADR | 86562M209 |  | 642814 | 32548 | SH |  | SOLE |  | 17548 | 0 | 15000 |
| T-MOBILE US INC | COM | 872590104 |  | 204779 | 975 | SH |  | SOLE |  | 975 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 6416319 | 18986 | SH |  | SOLE |  | 18986 | 0 | 0 |
| TAKEDA PHARMACEUTICAL CO LTD | SPONSORED ADS | 874060205 |  | 525231 | 28360 | SH |  | SOLE |  | 28360 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 45253050 | 373375 | SH |  | SOLE |  | 351020 | 0 | 22355 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 3986429 | 19072 | SH |  | DFND | 1 | 0 | 0 | 19072 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 122257052 | 584906 | SH |  | SOLE |  | 320227 | 0 | 264679 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 83622341 | 699125 | SH |  | SOLE |  | 490037 | 0 | 209088 |
| THE CIGNA GROUP | COM | 125523100 |  | 154301004 | 578448 | SH |  | SOLE |  | 390476 | 0 | 187972 |
| TOTALENERGIES SE | ACT | F92124100 |  | 1790781 | 22133 | SH |  | SOLE |  | 22133 | 0 | 0 |
| TRIMAS CORP | COM NEW | 896215209 |  | 356633 | 9923 | SH |  | SOLE |  | 9923 | 0 | 0 |
| TRUEBLUE INC | COM | 89785X101 |  | 11228073 | 2871630 | SH |  | SOLE |  | 2363979 | 0 | 507651 |
| TYSON FOODS INC | CL A | 902494103 |  | 12779787 | 199466 | SH |  | DFND | 1 | 0 | 0 | 199466 |
| TYSON FOODS INC | CL A | 902494103 |  | 1086386745 | 16956247 | SH |  | SOLE |  | 14556764 | 0 | 2399483 |
| UBS GROUP AG | SHS | H42097107 |  | 6305151 | 205179 | SH |  | DFND | 1 | 0 | 0 | 205179 |
| UBS GROUP AG | SHS | H42097107 |  | 809402872 | 26339176 | SH |  | SOLE |  | 19499984 | 0 | 6839192 |
| UNIVERSAL CORP VA MTNS BK EN | COM | 913456109 |  | 17364018 | 329488 | SH |  | SOLE |  | 281664 | 0 | 47824 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 |  | 342232698 | 1912235 | SH |  | SOLE |  | 1700276 | 0 | 211959 |
| UNIVEST FINANCIAL CORPORATIO | COM | 915271100 |  | 28861481 | 842425 | SH |  | SOLE |  | 719996 | 0 | 122429 |
| USANA HEALTH SCIENCES INC | COM | 90328M107 |  | 19373060 | 1108933 | SH |  | SOLE |  | 829101 | 0 | 279832 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 3002512 | 188719 | SH |  | SOLE |  | 173601 | 0 | 15118 |
| VAREX IMAGING CORP | COM | 92214X106 |  | 42358091 | 3992280 | SH |  | SOLE |  | 2861727 | 0 | 1130553 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 7555167 | 110585 | SH |  | DFND | 1 | 0 | 0 | 110585 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 243392255 | 3562533 | SH |  | SOLE |  | 3402395 | 0 | 160138 |
| WABTEC | COM | 929740108 |  | 91905152 | 367753 | SH |  | SOLE |  | 344762 | 0 | 22991 |
| WEBSTER FINL CORP | COM | 947890109 |  | 28407150 | 409207 | SH |  | SOLE |  | 409207 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 |  | 14058171 | 176588 | SH |  | DFND | 1 | 0 | 0 | 176588 |
| WELLS FARGO  CO | COM | 949746101 |  | 684370549 | 8596540 | SH |  | SOLE |  | 7268902 | 0 | 1327638 |
| WESCO INTL INC | COM | 95082P105 |  | 31078033 | 113581 | SH |  | SOLE |  | 113581 | 0 | 0 |
| WINNEBAGO INDS INC | COM | 974637100 |  | 30782181 | 993294 | SH |  | SOLE |  | 754277 | 0 | 239017 |
| WSFS FINL CORP | COM | 929328102 |  | 57512370 | 878588 | SH |  | SOLE |  | 711258 | 0 | 167330 |
| ZTO EXPRESS CAYMAN INC | SPONSORED ADS A | 98980A105 |  | 187791633 | 7460931 | SH |  | SOLE |  | 3892840 | 0 | 3568091 |

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