13F-HR 1 form13fhr.txt PZENA INVESTMENT MANAGEMENT LLC 13F-HR 12-31-2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended: December 31, 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 02/8/13 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: 123 Form 13F Information Table Value Total: $12,167,900,000 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 127,712 1,949,798 SH DEFINED 1 1,036,973 912,825 ACTUANT CORP- A COM 00508X203 32,016 1,147,113 SH SOLE 1,036,038 111,075 ADVANCED SEMICONDUCTOR E-ADR COM 00756M404 373 87,249 SH SOLE 3,452 83,797 AECOM TECHNOLOGY CORP COM 00766T100 3,048 128,075 SH DEFINED 2 128,075 AEROPOSTALE INC. COM 007865108 27,287 2,097,423 SH SOLE 1,898,983 198,440 AETNA INC COM 00817Y108 35,755 772,250 SH SOLE 14,375 757,875 ALLSTATE CORP COM 020002101 260,553 6,486,248 SH DEFINED 1,2 4,071,173 2,415,075 AMERICAN EQUITY INVT LIFE COM 025676206 25,451 2,084,407 SH SOLE 1,877,878 206,529 AMERICAN INTERNATIONAL GROUP COM 026874784 364,910 10,337,388 SH DEFINED 1 6,101,513 4,235,875 ARC Document Solutions, Inc. COM 00191G103 7,129 2,784,750 SH SOLE 2,493,350 291,400 ANIXTER INTERNATIONAL INC COM 035290105 32,405 506,488 SH DEFINED 2 476,893 29,595 APACHE CORP COM 037411105 30,572 389,450 SH SOLE 6,900 382,550 APOLLO GROUP INC - CL A COM 037604105 149,488 7,145,678 SH DEFINED 1 3,453,110 3,692,568 ARGO GROUP INTERNATIONAL COM G0464B107 29,918 890,682 SH SOLE 806,382 84,300 ASSURANT INC COM 04621X108 36,941 1,064,590 SH DEFINED 2 599,590 465,000 ASPEN INSURANCE HOLDINGS LTD COM G05384105 28,562 890,349 SH SOLE 803,249 87,100 AVNET INC COM 053807103 76,069 2,485,096 SH DEFINED 2 1,376,459 1,108,637 AVON PRODUCTS INC. COM 054303102 15,622 1,087,876 SH SOLE 19,725 1,068,151 AXIS CAPITAL HOLDINGS LTD COM G0692U109 193,766 5,593,719 SH DEFINED 1,2 3,567,515 2,026,204 BAKER HUGHES INC COM 057224107 306,672 7,509,120 SH DEFINED 1 4,469,812 3,039,308 BANK OF AMERICA CORP COM 060505104 287,063 24,746,804 SH DEFINED 1 14,520,329 10,226,475 BBCN BANCORP INC COM 073295107 29,363 2,537,893 SH SOLE 2,288,893 249,000 BECTON DICKINSON & CO COM 075887109 260,545 3,332,209 SH DEFINED 1,2 1,724,099 1,608,110 BP PLC - SPONS ADR COM 055622104 375,482 9,017,344 SH DEFINED 1 4,504,175 4,513,169 BRADY CORP CL A COM 104674106 50,710 1,518,267 SH DEFINED 2 1,404,142 114,125 CIRCOR INTERNATIONAL INC COM 17273K109 23,154 584,836 SH SOLE 527,881 56,955 CISCO SYSTEMS INC COM 17275R102 56,812 2,891,175 SH SOLE 56,075 2,835,100 CITIGROUP INC COM 172967424 358,071 9,051,334 SH DEFINED 1 5,235,677 3,815,657 COMERICA INC COM 200340107 37,957 1,251,050 SH DEFINED 2 240,950 1,010,100 CON-WAY INC COM 205944101 40,861 1,468,753 SH DEFINED 2 1,354,103 114,650 CURTISS -WRIGHT CORP COM 231561101 34,428 1,048,674 SH DEFINED 2 974,197 74,477 DANA HOLDING CORP COM 235825205 32,041 2,052,618 SH DEFINED 2 1,901,519 151,099 DELL INC COM 24702R101 128,427 12,677,923 SH DEFINED 1 6,603,035 6,074,888 DELPHI AUTOMOTIVE PLC COM G27823106 308,282 8,059,648 SH DEFINED 1,2 5,092,973 2,966,675 DEVRY INC. COM 251893103 17,492 737,145 SH DEFINED 2 680,545 56,600 DIAMONDROCK HOSPITALITY CO. COM 252784301 21,637 2,404,107 SH SOLE 2,173,690 230,417 DIODES INC. COM 254543101 27,124 1,563,355 SH SOLE 1,409,030 154,325 ENERSYS COM 29275Y102 517 13,750 SH SOLE 13,750 ENGILITY HOLDINGS INC COM 29285W104 15,136 785,890 SH DEFINED 2 672,485 113,405 ENI SPA -SPONSORED ADR COM 26874R108 400 8,150 SH SOLE 8,150 ENTERGY CORP COM 29364G103 220,038 3,451,580 SH DEFINED 1,2 1,930,380 1,521,200 EXXON MOBIL CORP COM 30231G102 215,551 2,490,474 SH DEFINED 1 1,146,907 1,343,567 FIFTH THIRD BANCORP COM 316773100 35,316 2,324,925 SH SOLE 41,125 2,283,800 FIRST AMERICAN FINANCIAL COM 31847R102 5,664 235,102 SH SOLE 218,027 17,075 FOREST LABORATORIES INC COM 345838106 32,065 907,850 SH SOLE 17,850 890,000 FORTUNE BRANDS HOME & SECURITY INC COM 34964C106 59,074 2,021,689 SH DEFINED 2 1,379,749 641,940 FRANKLIN RESOURCES INC. COM 354613101 169,328 1,347,084 SH DEFINED 1 699,598 647,486 GENERAL DYNAMICS CORP COM 369550108 33,681 486,225 SH SOLE 8,625 477,600 GENERAL MOTORS CO COM 37045V100 64,594 2,240,525 SH SOLE 41,275 2,199,250 GOLDMAN SACHS GROUP INC COM 38141G104 213,720 1,675,450 SH DEFINED 1 787,375 888,075 GOOGLE INC. COM 38259P508 328,784 463,488 SH DEFINED 1 279,495 183,993 GRIFFON CORPORATION COM 398433102 31,372 2,737,491 SH SOLE 2,459,782 277,709 HARSCO CORP COM 415864107 21,600 919,150 SH SOLE 827,325 91,825 HARTE-HANKS INC. COM 416196103 25,001 4,237,405 SH SOLE 3,810,280 427,125 HERMAN MILLER INC COM 600544100 20,183 942,267 SH SOLE 857,962 84,305 HEWLETT- PACKARD CO COM 428236103 585,787 41,107,891 SH DEFINED 1 22,920,591 18,187,300 HOSPIRA INC COM 441060100 32,480 1,039,700 SH SOLE 18,850 1,020,850 HOSPITALITY PROPERTIES TRUST COM 44106M102 42,755 1,825,562 SH DEFINED 2 953,885 871,677 HUNTINGTON INGALLS INDUSTRIES COM 446413106 22,561 520,547 SH SOLE 470,722 49,825 IGO INC COM 449593102 6 24,057 SH SOLE 24,057 INGRAM MICRO INC CL-A COM 457153104 43,161 2,550,859 SH DEFINED 2 2,362,789 188,070 INSIGHT ENTERPRISES INC COM 45765U103 28,321 1,630,451 SH SOLE 1,478,951 151,500 INVESCO LTD COM G491BT108 225,677 8,649,938 SH DEFINED 1,2 4,614,388 4,035,550 J.C. PENNEY CO. INC. COM 708160106 19,233 975,782 SH SOLE 17,600 958,182 JAKKS PACIFIC INC COM 47012E106 16,714 1,334,965 SH SOLE 1,185,090 149,875 JONES GROUP INC COM 48020T101 27,009 2,442,066 SH SOLE 2,201,107 240,959 JP MORGAN CHASE & CO COM 46625H100 253,045 5,754,939 SH DEFINED 1 2,696,164 3,058,775 KEY CORP COM 493267108 41,648 4,946,350 SH DEFINED 2 961,850 3,984,500 KOHLS CORP COM 500255104 27,941 650,100 SH SOLE 11,600 638,500 L-3 COMMUNICATIONS COM 502424104 243,608 3,179,428 SH DEFINED 1,2 1,763,028 1,416,400 LABORATORY CORPORATION OF AMERICA HOLDINGS COM 50540R409 70,075 808,992 SH DEFINED 1,2 570,167 238,825 MANPOWER INC COM 56418H100 7,229 170,325 SH DEFINED 2 170,325 MASCO CORP COM 574599106 198,895 11,938,464 SH DEFINED 1,2 6,147,841 5,790,623 MATTHEWS INTL CORP - CL A COM 577128101 16,286 507,350 SH SOLE 458,850 48,500 METLIFE INC COM 59156R108 255,142 7,745,665 SH DEFINED 1 3,939,590 3,806,075 MICROSOFT CORP COM 594918104 267,675 10,014,030 SH DEFINED 1 5,700,320 4,313,710 MOHAWK INDUSTRIES INC COM 608190104 486 5,367 SH DEFINED 2 5,367 MOLSON COORS BREWING CO. -B COM 60871R209 110,575 2,584,131 SH DEFINED 1 1,518,041 1,066,090 MONSTER WORLDWIDE INC COM 611742107 14,839 2,640,326 SH SOLE 2,361,026 279,300 MORGAN STANLEY COM 617446448 181,499 9,492,642 SH DEFINED 1 4,819,976 4,672,666 MUELLER WATER PRODUCTS INC COM 624758108 22,657 4,038,672 SH SOLE 3,651,997 386,675 NATIONAL PENN BANCSHARES INC COM 637138108 25,543 2,740,658 SH SOLE 2,462,108 278,550 NORTHROP GRUMMAN CORP COM 666807102 260,371 3,852,775 SH DEFINED 1 2,219,525 1,633,250 OFFICEMAX INC COM 67622P101 1,683 172,416 SH SOLE 172,416 OMNICOM GROUP COM 681919106 366,776 7,341,398 SH DEFINED 1,2 4,439,973 2,901,425 ORACLE CORP COM 68389X105 440,009 13,205,559 SH DEFINED 1 7,595,209 5,610,350 OWENS CORNING COM 690742101 38,853 1,050,368 SH DEFINED 2 586,724 463,644 PARTNERRE LTD COM G6852T105 127,718 1,586,750 SH SOLE 1,101,875 484,875 PHH CORP COM 693320202 29,484 1,295,988 SH SOLE 1,174,588 121,400 PIKE ELECTRIC CORPORATION COM 721283109 10,667 1,116,954 SH SOLE 1,009,319 107,635 PNC FINANCIAL SERVICES COM 693475105 172,479 2,957,966 SH DEFINED 1 1,714,126 1,243,840 POPULAR INC. COM 733174700 1,746 83,988 SH SOLE 83,988 PPG INDUSTRIES INC COM 693506107 171,683 1,268,437 SH DEFINED 1,2 695,412 573,025 PRIMERICA INC COM 74164M108 29,927 997,250 SH DEFINED 2 923,781 73,469 PROTECTIVE LIFE CORP COM 743674103 20,256 708,758 SH DEFINED 2 663,012 45,746 QUEST DIAGNOSTICS COM 74834L100 30,673 526,400 SH SOLE 10,100 516,300 REGIONS FINL CORP COM 7591EP100 39,568 5,557,333 SH DEFINED 2 817,933 4,739,400 RENAISSANCE RE HLDGS LTD COM G7496G103 9,649 118,741 SH DEFINED 2 118,741 RENT A CENTER INC COM 76009N100 17,351 504,987 SH SOLE 454,562 50,425 ROYAL DUTCH SHELL PLC ADR COM 780259206 350,133 5,078,065 SH DEFINED 1 2,602,959 2,475,106 SKECHERS USA INC.- CL A COM 830566105 16,021 865,986 SH SOLE 779,387 86,599 SK TELECOM ADR COM 78440P108 290 18,315 SH SOLE 840 17,475 SPIRIT AEROSYSTEMS HOLDINGS I COM 848574109 4,937 290,930 SH DEFINED 2 290,930 STAPLES INC COM 855030102 446,614 39,176,664 SH DEFINED 1,2 22,652,389 16,524,275 STATE STREET CORP COM 857477103 295,577 6,287,528 SH DEFINED 1 3,684,278 2,603,250 STEEL EXCEL INC COM 858122104 2,317 92,874 SH SOLE 80,572 12,302 SYNOVUS FINANCIAL CORP COM 87161C105 17,249 7,040,514 SH SOLE 6,595,314 445,200 TAIWAN SEMICONDUCTOR - SP ADR COM 874039100 736 42,903 SH SOLE 1,753 41,150 TCF FINANCIAL CORP COM 872275102 27,710 2,280,647 SH SOLE 2,039,247 241,400 TE CONNECTIVITY LTD. COM H84989104 403,932 10,881,801 SH DEFINED 1,2 6,535,791 4,346,010 THE HARTFORD FINANCIAL SERVICES GROUP COM 416515104 20,185 899,506 SH SOLE 70,106 829,400 THOR INDUSTRIES INC. COM 885160101 14,705 392,868 SH SOLE 359,268 33,600 TORCHMARK CORP COM 891027104 38,299 741,224 SH DEFINED 2 130,224 611,000 TUTOR PERINI CORP COM 901109108 19,709 1,438,626 SH SOLE 1,293,001 145,625 UBS AG COM H89231338 221,409 14,066,648 SH DEFINED 1 7,185,696 6,880,952 UNITED STATIONERS INC COM 913004107 35,503 1,145,622 SH SOLE 1,039,197 106,425 URS CORP COM 903236107 32,421 825,794 SH DEFINED 2 365,623 460,171 VALASSIS COMMUNICATIONS INC COM 918866104 47,053 1,825,174 SH SOLE 1,651,174 174,000 VALIDUS HOLDINGS LTD COM G9319H102 5,285 152,829 SH DEFINED 2 152,829 VCA ANTECH INC COM 918194101 34,900 1,657,938 SH SOLE 1,493,363 164,575 WEBSTER FINANCIAL CORP. COM 947890109 24,417 1,188,153 SH SOLE 1,078,228 109,925 WELLS FARGO CO COM 949746101 104,649 3,061,693 SH SOLE 1,334,868 1,726,825 WILLIS GROUP HOLDINGS LTD COM G96666105 73,310 2,186,400 SH DEFINED 2 173,300 2,013,100 WSFS FINANCIAL CORP COM 929328102 15,077 356,857 SH SOLE 322,882 33,975