13F-HR 1 form13fhr.txt PZENA INVESTMENT MANAGEMENT LLC 13F-HR 6-30-2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended: June 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 08/10/12 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: 127 Form 13F Information Table Value Total: 8,556,392,000 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 120,502 1,869,118 SH DEFINED 1 1,413,718 455,400 ACTUANT CORP- A Com 00508X203 32,386 1,192,427 SH SOLE 1,072,927 119,500 ADVANCED SEMICONDUCTOR E-ADR Com 00756M404 1,009 247,860 SH SOLE 94,930 152,930 AEROPOSTALE, INC. Com 007865108 20,119 1,128,358 SH SOLE 1,019,633 108,725 ALLSTATE CORP Com 020002101 317,707 9,054,057 SH DEFINED 1,2 7,676,957 1,377,100 ALTRA HOLDINGS INC Com 02208R106 847 53,701 SH SOLE 45,926 7,775 AMERICAN EQUITY INVT LIFE Com 025676206 23,335 2,119,477 SH SOLE 1,912,948 206,529 AMERICAN INTERNATIONAL GROUP Com 026874784 252,701 7,874,757 SH DEFINED 1 6,693,782 1,180,975 AMERICAN REPROGRAPHICS Com 029263100 14,407 2,864,285 SH SOLE 2,572,885 291,400 APOLLO GROUP INC - CL A Com 037604105 154,374 4,265,666 SH DEFINED 1 3,191,491 1,074,175 ARGO GROUP INTERNATIONAL Com G0464B107 26,902 919,107 SH SOLE 827,707 91,400 ARTHUR J GALLAGHER & CO. Com 363576109 17,817 508,052 SH SOLE 457,098 50,954 ASPEN INSURANCE HOLDINGS LTD Com G05384105 25,886 895,698 SH SOLE 806,573 89,125 AVNET INC Com 053807103 61,142 1,981,261 SH DEFINED 2 1,177,999 803,262 AVON PRODUCTS INC. Com 054303102 107,802 6,650,312 SH DEFINED 1,2 6,060,393 589,919 AXIS CAPITAL HOLDINGS LTD Com G0692U109 131,955 4,053,925 SH DEFINED 1,2 3,585,600 468,325 BAKER HUGHES INC Com 057224107 123,717 3,010,139 SH DEFINED 1 2,510,489 499,650 BANK OF AMERICA CORP Com 060505104 141,128 17,252,795 SH DEFINED 1 14,714,145 2,538,650 BBCN BANCORP INC Com 073295107 28,800 2,644,635 SH SOLE 2,377,685 266,950 BECTON DICKINSON & CO Com 075887109 117,589 1,573,102 SH DEFINED 1,2 1,172,352 400,750 BP PLC - PONS ADR Com 055622104 204,211 5,037,269 SH DEFINED 1 4,247,156 790,113 BRADY CORP CL A Com 104674106 46,416 1,687,259 SH DEFINED 2 1,552,884 134,375 CA INC. Com 12673P105 4,046 149,353 SH DEFINED 2 149,353 CIRCOR INTERNATIONAL INC Com 17273K109 23,532 690,286 SH SOLE 623,506 66,780 CISCO SYSTEMS INC Com 17275R102 441 25,686 SH SOLE 25,686 CITIGROUP INC Com 172967424 204,359 7,455,631 SH DEFINED 1 6,152,049 1,303,582 CNO FINANCIAL GROUP INC Com 12621E103 16,448 2,108,745 SH SOLE 1,900,695 208,050 COMERICA INC Com 200340107 8,342 271,625 SH DEFINED 2 271,625 COMPUTER SCIENCES CORP Com 205363104 133,205 5,366,850 SH DEFINED 1,2 4,111,898 1,254,952 CON-WAY INC Com 205944101 32,332 895,373 SH DEFINED 2 826,048 69,325 CURTISS -WRIGHT CORP Com 231561101 33,648 1,083,677 SH DEFINED 2 1,010,350 73,327 DELPHI AUTOMOTIVE PLC Com G27823106 5,194 203,678 SH SOLE 108,978 94,700 DELL INC Com 24702R101 134,938 10,777,826 SH DEFINED 1 8,185,888 2,591,938 DEVRY INC. Com 251893103 24,939 805,269 SH DEFINED 2 748,669 56,600 DIAMONDROCK HOSPITALITY CO. Com 252784301 25,734 2,522,959 SH SOLE 2,270,142 252,817 DIODES INC. Com 254543101 29,538 1,573,670 SH SOLE 1,419,345 154,325 EDISON INTERNATIONAL Com 281020107 271 5,875 SH SOLE 5,875 ENERSYS Com 29275Y102 17,604 501,975 SH SOLE 450,925 51,050 ENI SPA -SPONSORED ADR Com 26874R108 347 8,150 SH SOLE 8,150 ENTERGY CORP Com 29364G103 172,814 2,545,506 SH DEFINED 1,2 1,986,831 558,675 EXXON MOBIL CORP Com 30231G102 158,505 1,852,338 SH DEFINED 1 1,205,721 646,617 FIDELITY NATIONAL FINANCIAL INC. Com 31620R105 23,159 1,202,464 SH DEFINED 1 1,047,074 155,390 FIFTH THIRD BANCORP Com 316773100 6,936 517,580 SH DEFINED 2 517,580 FIRST AMERICAN FINANCIAL Com 31847R102 25,798 1,521,127 SH SOLE 1,400,627 120,500 FOREST LABORATORIES INC Com 345838106 389 11,128 SH SOLE 11,128 FORTUNE BRANDS HOME & SECURITY INC Com 34964C106 117,315 5,267,839 SH DEFINED 1,2 3,933,849 1,333,990 FRANKLIN RESOURCES INC. Com 354613101 122,132 1,100,386 SH DEFINED 1 821,250 279,136 FREDDIE MAC Com 313400301 12 48,850 SH SOLE 48,850 GENERAL DYNAMICS CORP Com 369550108 296 4,495 SH SOLE 4,495 GENERAL MOTORS CO Com 37045V100 266 13,475 SH SOLE 13,475 GLOBAL INDEMNITY PLC Com G39319101 6,057 299,126 SH SOLE 265,868 33,258 GOLDMAN SACHS GROUP INC Com 38141G104 105,184 1,097,267 SH DEFINED 1 812,317 284,950 GOOGLE INC. Com 38259P508 182,368 314,389 SH DEFINED 1 263,824 50,565 GRIFFON CORPORATION Com 398433102 24,228 2,823,783 SH SOLE 2,546,074 277,709 HARSCO CORP Com 415864107 19,067 935,555 SH SOLE 843,730 91,825 HARTE-HANKS INC. Com 416196103 39,955 4,371,449 SH SOLE 3,944,324 427,125 HEWLETT- PACKARD CO Com 428236103 416,332 20,702,722 SH DEFINED 1 17,484,597 3,218,125 HOSPITALITY PROPERTIES TRUST Com 44106M102 49,854 2,012,672 SH DEFINED 2 1,124,465 888,207 HUNTINGTON INGALLS INDUSTRIES Com 446413106 38,598 959,192 SH SOLE 808,473 150,719 INGRAM MICRO INC CL-A Com 457153104 17,370 994,299 SH DEFINED 2 706,875 287,424 INSIGHT ENTERPRISES INC Com 45765U103 9,834 584,320 SH SOLE 522,638 61,682 INVESCO LTD Com G491BT108 111,741 4,944,273 SH DEFINED 1,2 4,254,798 689,475 JAKKS PACIFIC INC Com 47012E106 15,414 962,803 SH SOLE 871,228 91,575 JARDEN CORP Com 471109108 12,187 290,039 SH DEFINED 2 227,439 62,600 JOHNSON & JOHNSON Com 478160104 391 5,787 SH SOLE 3,887 1,900 JONES GROUP INC Com 48020T101 31,661 3,311,782 SH SOLE 2,988,132 323,650 JP MORGAN CHASE & CO Com 46625H100 138,544 3,877,524 SH DEFINED 1 2,919,549 957,975 KEY CORP Com 493267108 8,389 1,083,850 SH DEFINED 2 1,083,850 KOHLS CORP Com 500255104 276 6,075 SH SOLE 6,075 L-3 COMMUNICATIONS Com 502424104 186,660 2,522,091 SH DEFINED 1,2 1,939,216 582,875 LABORATORY CORPORATION OF AMERICA HOLDINGS Com 50540R409 7,037 75,986 SH DEFINED 2 75,986 MANPOWER INC Com 56418H100 3,301 90,075 SH DEFINED 2 90,075 MARATHON OIL CORP Com 565849106 13 498 SH SOLE 498 MASCO CORP Com 574599106 149,524 10,780,364 SH DEFINED 1,2 8,229,389 2,550,975 MASTERCARD INC - CLASS A Com 57636Q104 28 66 SH SOLE 66 MATTHEWS INTL CORP - CL A Com 577128101 5,610 172,674 SH SOLE 159,499 13,175 METLIFE INC Com 59156R108 143,339 4,646,330 SH DEFINED 1 3,565,880 1,080,450 MICROSOFT CORP Com 594918104 212,043 6,931,791 SH DEFINED 1 5,962,031 969,760 MOHAWK INDUSTRIES INC Com 608190104 40,980 586,855 SH DEFINED 2 344,680 242,175 MOLSON COORS BREWING CO. -B Com 60871R209 93,885 2,256,320 SH DEFINED 1,2 1,949,830 306,490 MONSTER WORLDWIDE INC Com 611742107 20,871 2,455,361 SH SOLE 2,214,611 240,750 MORGAN STANLEY Com 617446448 76,036 5,211,510 SH DEFINED 1 3,962,735 1,248,775 MUELLER WATER PRODUCTS INC Com 624758108 14,515 4,195,222 SH SOLE 3,795,947 399,275 NATIONAL PENN BANCSHARES INC Com 637138108 28,710 3,000,033 SH SOLE 2,692,008 308,025 NORTHROP GRUMMAN CORP Com 666807102 320,652 5,026,689 SH DEFINED 1 4,183,439 843,250 OFFICEMAX INC Com 67622P101 11,527 2,278,073 SH SOLE 2,052,142 225,931 OMNICOM GROUP Com 681919106 229,153 4,715,077 SH DEFINED 1,2 3,964,502 750,575 ORACLE CORP Com 68389X105 331,278 11,154,144 SH DEFINED 1 9,341,769 1,812,375 OWENS CORNING Com 690742101 32,430 1,136,294 SH DEFINED 2 666,625 469,669 PARTNERRE LTD Com G6852T105 103,700 1,370,423 SH SOLE 1,078,098 292,325 PHH CORP Com 693320202 29,917 1,711,473 SH SOLE 1,536,473 175,000 PIKE ELECTRIC CORPORATION Com 721283109 12,880 1,668,334 SH SOLE 1,523,159 145,175 PNC FINANCIAL SERVICES Com 693475105 119,028 1,947,766 SH DEFINED 1 1,474,579 473,187 POPULAR INC. Com 733174700 1,312 79,007 SH SOLE 79,007 PORTLAND GENERAL ELECTRIC CO Com 736508847 5,555 208,370 SH SOLE 187,921 20,449 PPG INDUSTRIES INC Com 693506107 196,254 1,849,357 SH DEFINED 1,2 1,584,957 264,400 PRIMERICA INC Com 74164M108 44,209 1,653,914 SH DEFINED 2 1,528,289 125,625 PROTECTIVE LIFE CORP Com 743674103 21,584 733,891 SH DEFINED 2 693,720 40,171 QUEST DIAGNOSTICS Com 74834L100 297 4,959 SH SOLE 4,959 REGIONS FINL CORP Com 7591EP100 6,200 918,488 SH DEFINED 2 918,488 RENAISSANCE RE HLDGS LTD Com G7496G103 34,811 457,974 SH DEFINED 2 454,624 3,350 RENT A CENTER INC Com 76009N100 17,107 507,024 SH SOLE 456,599 50,425 ROYAL DUTCH SHELL PLC ADR Com 780259206 218,304 3,237,492 SH DEFINED 1 2,809,635 427,857 SEALY CORP CONVERTIBLE NOTE 8% 7/15/16 Conv. Note Com 812139400 5,926 101,728 SH SOLE 88,596 13,132 SKECHERS USA INC.- CL A Com 830566105 20,289 996,001 SH SOLE 896,702 99,299 SK TELECOM ADR Com 78440P108 1,655 136,796 SH SOLE 73,496 63,300 SPIRIT AEROSYSTEMS HOLDINGS I Com 848574109 8,409 352,855 SH DEFINED 2 352,855 STAPLES INC Com 855030102 395,677 30,320,109 SH DEFINED 1,2 25,421,659 4,898,450 STATE STREET CORP Com 857477103 213,681 4,786,754 SH DEFINED 1 4,017,229 769,525 STEEL EXCEL INC Com 858122104 2,814 103,648 SH SOLE 85,146 18,502 TAIWAN SEMICONDUCTOR - SP ADR Com 874039100 2,386 170,923 SH SOLE 84,798 86,125 TCF FINANCIAL CORP Com 872275102 26,833 2,337,407 SH SOLE 2,101,307 236,100 TE CONNECTIVITY LTD. Com H84989104 268,972 8,429,086 SH DEFINED 1,2 7,433,561 995,525 THE HARTFORD FINANCIAL SERVICES GROUP INC Com 416515104 890 50,472 SH SOLE 50,472 THOR INDUSTRIES INC. Com 885160101 18,899 689,500 SH SOLE 617,250 72,250 TORCHMARK CORP Com 891027104 7,225 142,924 SH DEFINED 2 142,924 TUTOR PERINI CORP Com 901109108 18,245 1,440,021 SH SOLE 1,294,396 145,625 UBS AG Com H89231338 112,343 9,593,797 SH DEFINED 1 8,045,245 1,548,552 UNITED STATIONERS INC Com 913004107 19,048 706,799 SH SOLE 634,974 71,825 URS CORP Com 903236107 3,273 93,850 SH SOLE 93,850 VALASSIS COMMUNICATIONS INC Com 918866104 40,959 1,883,180 SH SOLE 1,694,430 188,750 VALERO ENERGY Com 91913Y100 271 11,225 SH SOLE 11,225 VALIDUS HOLDINGS LTD Com G9319H102 6,144 191,824 SH DEFINED 2 191,824 VCA ANTECH INC Com 918194101 21,178 963,533 SH SOLE 864,283 99,250 WEBSTER FINANCIAL CORP. Com 947890109 27,284 1,259,640 SH SOLE 1,133,815 125,825 WELLS FARGO CO Com 949746101 74,922 2,240,482 SH SOLE 1,698,057 542,425 WILLIS GROUP HOLDINGS LTD Com G96666105 6,066 166,250 SH DEFINED 2 166,250 WSFS FINANCIAL CORP Com 929328102 13,506 334,219 SH SOLE 303,394 30,825