13F-HR 1 form13f-hr.txt PZENA INVESTMENT MANAGEMENT LLC 13F-HR 9-30-2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended: September 30, 2012 PZENA INVESTMENT MANAGEMENT, LLC ------------------------------------------------------------------------------- Name of Institutional Investment Manager 120 West 45th Street, 20th Floor NY NY 10036 ------------------------------------------------------------------------------- Business Address (Street) (City)(State) (Zip) 13F File Number: 28-03791 -------- 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 submission. Name, Title and Telephone Number of Person Submitting Report: Joan Berger General Counsel & Chief Compliance Officer (212) 355-1600 ------------------------------------------------------------------------------- Name (Title ) (Phone) Signature, Place and Date of Signing: /s/Joan Berger ------------------------------ Joan Berger, General Counsel & Chief Compliance Officer Pzena Investment Management, LLC 120 West 45th Street, 20th Floor New York, New York 10036 11/9/12 Report Type: [ ] 13F HOLDINGS REPORT [ ] 13F NOTICE [X] 13F COMBINATION REPORT Form 13F SUMMARY PAGE Number of Other Included Managers: Three (3) Form 13F Information Table Entry Total: 122 Form 13F Information Table Value Total: $11,978,521,000 List of Other Included Managers: Name and 13F file numbers of ALL Institutional Investment Managers with respect to which this schedule is filed (other than the one filing this report): (List in alphabetical order). No. 13F File No.: Name: ------ --------------- --------------------- 1 028-12230 - ALPS Advisers, Inc. 2 028-14511 - American Beacon Advisors, Inc. 3 028-01190 - Frank Russell Company

FORM 13F INFORMATION TABLE ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8: ---------------- ----- -------- ------- ---------------------- ------------------------ --- ------------------------ INVESTMENT DISCRETION VOTING AUTHORITY (SHARES) ------------------------ ------------------------ MANA FAIR GERS NAME TITLE MARKET B) C) SEE OF OF CUSIP VALUE SHARES OR SH/ PUT A) DEF SHARED INSTR. A) B) C) ISSUER CLASS NUMBER (x1000) PRN AMT PRIN CALL SOLE INED OTHER V SOLE SHARED NONE ---------------- ----- --------- ------- ---------------------- ------ ---- ------- --- ---------- ------ ---- ABBOTT LABORATORIES Com 002824100 152,126 2,218,879 SH DEFINED 1 1,285,979 932,900 ACTUANT CORP- A Com 00508X203 33,293 1,163,267 SH SOLE 1,043,767 119,500 ADVANCED SEMICONDUCTOR E-ADR Com 00756M404 1,054 282,529 SH SOLE 108,208 174,321 AEROPOSTALE INC. Com 007865108 23,247 1,718,158 SH SOLE 1,542,433 175,725 ALLSTATE CORP Com 020002101 411,308 10,383,939 SH DEFINED 1,2 6,407,264 3,976,675 AMERICAN EQUITY INVT LIFE Com 025676206 24,252 2,085,267 SH SOLE 1,878,738 206,529 AMERICAN INTERNATIONAL GROUP Com 026874784 332,803 10,149,540 SH DEFINED 1 6,028,965 4,120,575 AMERICAN REPROGRAPHICS Com 029263100 12,112 2,836,455 SH SOLE 2,545,055 291,400 APACHE CORP Com 037411105 33,683 389,536 SH SOLE 6,986 382,550 APOLLO GROUP INC - CL A Com 037604105 201,633 6,940,906 SH DEFINED 1 3,348,288 3,592,618 ARGO GROUP INTERNATIONAL Com G0464B107 28,261 872,532 SH SOLE 781,132 91,400 ASPEN INSURANCE HOLDINGS LTD Com G05384105 28,239 926,158 SH SOLE 836,558 89,600 AVNET INC Com 053807103 72,354 2,487,247 SH DEFINED 2 1,459,810 1,027,437 AVON PRODUCTS INC. Com 054303102 17,369 1,088,975 SH SOLE 20,824 1,068,151 AXIS CAPITAL HOLDINGS LTD Com G0692U109 183,250 5,247,702 SH DEFINED 1,2 3,327,348 1,920,354 BAKER HUGHES INC Com 057224107 293,387 6,486,563 SH DEFINED 1 3,719,055 2,767,508 BANK OF AMERICA CORP Com 060505104 208,214 23,580,301 SH DEFINED 1 13,489,001 10,091,300 BBCN BANCORP INC Com 073295107 32,538 2,580,330 SH SOLE 2,313,380 266,950 BECTON DICKINSON & CO Com 075887109 245,244 3,121,741 SH DEFINED 1,2 1,524,166 1,597,575 BP PLC - SPONS ADR Com 055622104 335,076 7,910,193 SH DEFINED 1 3,968,799 3,941,394 BRADY CORP CL A Com 104674106 52,392 1,789,339 SH DEFINED 2 1,643,489 145,850 CA INC. Com 12673P105 17,650 685,056 SH SOLE 24,531 660,525 CIRCOR INTERNATIONAL INC Com 17273K109 24,400 646,360 SH SOLE 580,455 65,905 CISCO SYSTEMS INC Com 17275R102 55,215 2,892,359 SH SOLE 57,259 2,835,100 CITIGROUP INC Com 172967424 303,040 9,261,623 SH DEFINED 1 5,403,919 3,857,704 COMERICA INC Com 200340107 39,542 1,273,500 SH DEFINED 2 263,400 1,010,100 COMPUTER SCIENCES CORP Com 205363104 137,706 4,275,243 SH DEFINED 1,2 2,432,816 1,842,427 CON-WAY INC Com 205944101 36,291 1,325,931 SH DEFINED 2 1,216,481 109,450 CURTISS -WRIGHT CORP Com 231561101 34,861 1,066,088 SH SOLE 2 991,611 74,477 DELL INC Com 24702R101 142,145 14,416,298 SH DEFINED 1 6,782,210 7,634,088 DELPHI AUTOMOTIVE PLC Com G27823106 248,385 8,012,433 SH DEFINED 1,2 4,887,308 3,125,125 DEVRY INC. Com 251893103 16,942 744,375 SH DEFINED 2 687,775 56,600 DIAMONDROCK HOSPITALITY CO. Com 252784301 23,480 2,438,263 SH SOLE 2,185,446 252,817 DIODES INC. Com 254543101 26,463 1,555,705 SH SOLE 1,401,380 154,325 ENERSYS Com 29275Y102 1,701 48,200 SH SOLE 48,200 ENGILITY HOLDINGS INC Com 29285W104 19,940 1,080,783 SH DEFINED 1,2 926,646 154,137 ENI SPA -SPONSORED ADR Com 26874R108 357 8,150 SH SOLE 8,150 ENTERGY CORP Com 29364G103 239,754 3,459,656 SH DEFINED 1,2 1,936,031 1,523,625 EXXON MOBIL CORP Com 30231G102 236,071 2,581,420 SH DEFINED 1 1,204,778 1,376,642 FIFTH THIRD BANCORP Com 316773100 36,901 2,379,180 SH DEFINED 2 95,380 2,283,800 FIRST AMERICAN FINANCIAL Com 31847R102 24,018 1,108,362 SH SOLE 1,014,662 93,700 FOREST LABORATORIES INC Com 345838106 32,437 910,888 SH SOLE 20,888 890,000 FORTUNE BRANDS HOME & SECURITY INC Com 34964C106 118,701 4,394,694 SH DEFINED 1,2 3,188,818 1,205,876 FRANKLIN RESOURCES INC. Com 354613101 176,277 1,409,423 SH DEFINED 1 737,212 672,211 GENERAL DYNAMICS CORP Com 369550108 32,169 486,526 SH SOLE 8,926 477,600 GENERAL MOTORS CO Com 37045V100 50,972 2,240,525 SH SOLE 41,275 2,199,250 GOLDMAN SACHS GROUP INC Com 38141G104 189,560 1,667,492 SH DEFINED 1 794,842 872,650 GOOGLE INC. Com 38259P508 348,015 461,252 SH DEFINED 1 275,459 185,793 GRIFFON CORPORATION Com 398433102 28,284 2,746,003 SH SOLE 2,468,294 277,709 HARRIS CORP Com 413875105 10 197 SH SOLE 197 HARSCO CORP Com 415864107 18,879 919,600 SH SOLE 827,775 91,825 HARTE-HANKS INC. Com 416196103 29,547 4,263,611 SH SOLE 3,836,486 427,125 HERMAN MILLER INC Com 600544100 15,540 799,385 SH SOLE 725,885 73,500 HEWLETT -PACKARD CO Com 428236103 594,939 34,873,319 SH DEFINED 1 19,644,544 15,228,775 HOSPIRA INC Com 441060100 34,123 1,039,700 SH SOLE 18,850 1,020,850 HOSPITALITY PROPERTIES TRUST Com 44106M102 41,796 1,757,601 SH DEFINED 2 954,024 803,577 HUNTINGTON INGALLS INDUSTRIES Com 446413106 22,545 536,156 SH SOLE 482,581 53,575 INGRAM MICRO INC CL-A Com 457153104 30,351 1,992,833 SH DEFINED 2 1,859,672 133,161 NVESCO LTD Com G491BT108 206,297 8,255,172 SH DEFINED 1,2 4,523,097 3,732,075 INSIGHT ENTERPRISES INC Com 45765U103 21,650 1,238,549 SH SOLE 1,114,623 123,926 JAKKS PACIFIC INC Com 47012E106 18,531 1,271,886 SH SOLE 1,132,186 139,700 JARDEN CORP Com 471109108 872 16,504 SH DEFINED 2 16,504 JOHNSON & JOHNSON Com 478160104 367 5,328 SH SOLE 3,428 1,900 JONES GROUP INC Com 48020T101 39,100 3,038,081 SH SOLE 2,724,256 313,825 JP MORGAN CHASE & CO Com 46625H100 239,033 5,904,956 SH DEFINED 1 2,839,731 3,065,225 KEY CORP Com 493267108 44,027 5,037,375 SH DEFINED 2 1,052,875 3,984,500 KOHLS CORP Com 500255104 33,298 650,100 SH SOLE 11,600 638,500 L-3 COMMUNICATIONS Com 502424104 234,235 3,266,418 SH DEFINED 1,2 1,845,593 1,420,825 LABORATORY CORPORATION OF AMERICA HOLDINGS Com 50540R409 6,737 72,861 SH DEFINED 2 72,861 MANPOWER INC Com 56418H100 6,877 186,875 SH DEFINED 2 186,875 MASCO CORP Com 574599106 186,192 12,371,556 SH DEFINED 1,2 6,426,133 5,945,423 MATTHEWS INTL CORP - CL A Com 577128101 11,697 392,262 SH SOLE 345,637 46,625 METLIFE INC Com 59156R108 222,300 6,450,950 SH DEFINED 1 3,326,175 3,124,775 MICROSOFT CORP Com 594918104 250,702 8,418,471 SH DEFINED 1 4,799,036 3,619,435 MOHAWK INDUSTRIES INC Com 608190104 40,590 507,248 SH DEFINED 2 278,573 228,675 MOLSON COORS BREWING CO. -B Com 60871R209 120,004 2,663,797 SH DEFINED 1 1,597,707 1,066,090 MONSTER WORLDWIDE INC Com 611742107 19,371 2,642,676 SH SOLE 2,363,376 279,300 MORGAN STANLEY Com 617446448 128,318 7,665,354 SH DEFINED 1 4,041,679 3,623,675 MUELLER WATER PRODUCTS INC Com 624758108 20,140 4,110,172 SH SOLE 3,710,897 399,275 NATIONAL PENN BANCSHARES INC Com 637138108 24,994 2,743,633 SH SOLE 2,465,083 278,550 NORTHROP GRUMMAN CORP Com 666807102 333,527 5,020,723 SH DEFINED 1 2,940,848 2,079,875 OFFICEMAX INC Com 67622P101 7,326 938,016 SH SOLE 824,890 113,126 OMNICOM GROUP Com 681919106 295,468 5,730,565 SH DEFINED 1,2 3,486,665 2,243,900 ORACLE CORP Com 68389X105 423,171 13,438,281 SH DEFINED 1 7,948,756 5,489,525 OWENS CORNING Com 690742101 46,561 1,391,543 SH DEFINED 2 732,849 658,694 PARTNERRE LTD Com G6852T105 116,417 1,567,267 SH SOLE 1,116,342 450,925 PHH CORP Com 693320202 31,491 1,547,478 SH SOLE 1,387,953 159,525 PIKE ELECTRIC CORPORATION Com 721283109 13,112 1,649,359 SH SOLE 1,504,184 145,175 PNC FINANCIAL SERVICES Com 693475105 167,990 2,662,283 SH DEFINED 1 1,424,968 1,237,315 POPULAR INC. Com 733174700 1,466 84,088 SH SOLE 84,088 PPG INDUSTRIES INC Com 693506107 168,632 1,468,404 SH DEFINED 2 891,879 576,525 PRIMERICA INC Com 74164M108 38,088 1,329,901 SH DEFINED 2 1,232,632 97,269 PROTECTIVE LIFE CORP Com 743674103 19,101 728,783 SH DEFINED 2 683,037 45,746 QUEST DIAGNOSTICS Com 74834L100 33,412 526,759 SH SOLE 10,459 516,300 REGIONS FINL CORP Com 7591EP100 40,609 5,632,338 SH DEFINED 2 892,938 4,739,400 RENAISSANCE RE HLDGS LTD Com G7496G103 10,427 135,343 SH DEFINED 2 135,343 RENT A CENTER INC Com 76009N100 17,720 505,129 SH SOLE 454,704 50,425 ROYAL DUTCH SHELL PLC ADR Com 780259206 364,570 5,252,408.93 SH DEFINED 1 2,673,916.93 2,578,492 SKECHERS USA INC.- CL A Com 830566105 18,197 891,995 SH SOLE 797,296 94,699 SK TELECOM ADR Com 78440P108 1,322 90,888 SH SOLE 73,413 17,475 SPIRIT AEROSYSTEMS HOLDINGS I Com 848574109 7,378 332,205 SH DEFINED 2 332,205 STAPLES INC Com 855030102 485,521 42,145,899 SH DEFINED 1,2 23,586,174 18,559,725 STATE STREET CORP Com 857477103 269,016 6,411,247 SH DEFINED 1 3,789,172 2,622,075 STEEL EXCEL INC Com 858122104 2,543 100,716 SH SOLE 82,214 18,502 SYNOVUS FINANCIAL CORP Com 87161C105 8,872 3,743,375 SH SOLE 3,589,825 153,550 TAIWAN SEMICONDUCTOR - SP ADR Com 874039100 2,704 170,923 SH SOLE 84,798 86,125 TCF FINANCIAL CORP Com 872275102 27,674 2,317,797 SH SOLE 2,077,522 240,275 THE HARTFORD FINANCIAL SERVICES GROUP INC Com 416515104 19,551 1,005,706 SH SOLE 71,106 934,600 TE CONNECTIVITY LTD. Com H84989104 373,714 10,988,363 SH DEFINED 1,2 6,672,903 4,315,460 THOR INDUSTRIES INC. Com 885160101 25,016 688,770 SH SOLE 614,195 74,575 TORCHMARK CORP Com 891027104 38,663 752,924 SH DEFINED 2 141,924 611,000 TUTOR PERINI CORP Com 901109108 16,293 1,424,176 SH SOLE 1,278,551 145,625 UBS AG Com H89231338 186,223 15,289,273 SH DEFINED 1 7,830,771 7,458,502 UNITED STATIONERS INC Com 913004107 33,131 1,273,288 SH SOLE 1,142,988 130,300 URS CORP Com 903236107 15,722 445,261 SH DEFINED 2 308,617 136,644 USINAS SIDERURG MINAS - SP ADR Com 917302200 300 59,838 SH SOLE 59,838 VALASSIS COMMUNICATIONS INC Com 918866104 45,764 1,853,530 SH SOLE 1,664,780 188,750 VALIDUS HOLDINGS LTD Com G9319H102 6,201 182,874 SH DEFINED 2 182,874 VCA ANTECH INC Com 918194101 32,680 1,656,373 SH SOLE 1,486,098 170,275 WEBSTER FINANCIAL CORP. Com 947890109 28,932 1,220,760 SH SOLE 1,096,710 124,050 WELLS FARGO CO Com 949746101 107,949 3,126,232 SH SOLE 1,382,357 1,743,875 WILLIS GROUP HOLDINGS LTD Com G96666105 56,185 1,521,800 SH DEFINED 2 176,800 1,345,000 WSFS FINANCIAL CORP Com 929328102 13,708 332,079 SH SOLE 301,254 30,825