Pzena Investment Management

------ --------------- --------------------- as of Sept. 30, 2012

Portfolio Holdings for ------ --------------- ---------------------

------ --------------- --------------------- holds 123 positions in its portfolio as reported in the September 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Hewlett-Packard Company 5.0 $595M 35M 17.06
Staples 4.0 $486M 42M 11.52
Oracle Corporation (ORCL) 3.5 $423M 13M 31.49
Allstate Corporation (ALL) 3.4 $411M 10M 39.61
Te Connectivity Ltd for 3.1 $374M 11M 34.01
Royal Dutch Shell 3.0 $365M 5.3M 69.41
Google 2.9 $348M 461k 754.50
BP (BP) 2.8 $335M 7.9M 42.36
Northrop Grumman Corporation (NOC) 2.8 $334M 5.0M 66.43
American International (AIG) 2.8 $333M 10M 32.79
Citigroup (C) 2.5 $303M 9.3M 32.72
Omni (OMC) 2.5 $296M 5.7M 51.56
Baker Hughes Incorporated 2.5 $293M 6.5M 45.23
State Street Corporation (STT) 2.2 $269M 6.4M 41.96
Microsoft Corporation (MSFT) 2.1 $251M 8.4M 29.78
Delphi Automotive 2.1 $248M 8.0M 31.00
Becton, Dickinson and (BDX) 2.0 $245M 3.1M 78.56
JPMorgan Chase & Co. (JPM) 2.0 $239M 5.9M 40.48
Entergy Corporation (ETR) 2.0 $240M 3.5M 69.30
Exxon Mobil Corporation (XOM) 2.0 $236M 2.6M 91.45
L-3 Communications Holdings 2.0 $234M 3.3M 71.71
MetLife (MET) 1.9 $222M 6.5M 34.46
Bank of America Corporation (BAC) 1.7 $208M 24M 8.83
Invesco (IVZ) 1.7 $206M 8.3M 24.99
Apollo 1.7 $202M 6.9M 29.05
Goldman Sachs (GS) 1.6 $190M 1.7M 113.68
Ubs Ag Cmn 1.6 $186M 15M 12.18
Masco Corporation (MAS) 1.6 $186M 12M 15.05
Axis Capital Holdings (AXS) 1.5 $183M 5.2M 34.92
Franklin Resources (BEN) 1.5 $176M 1.4M 125.07
PPG Industries (PPG) 1.4 $169M 1.5M 114.84
PNC Financial Services (PNC) 1.4 $168M 2.7M 63.10
Abbott Laboratories (ABT) 1.3 $152M 2.2M 68.56
Dell 1.2 $142M 14M 9.86
Computer Sciences Corporation 1.1 $138M 4.3M 32.21
Morgan Stanley (MS) 1.1 $128M 7.7M 16.74
Molson Coors Brewing Company (TAP) 1.0 $120M 2.7M 45.05
Fortune Brands (FBIN) 1.0 $119M 4.4M 27.01
Partner Re 1.0 $116M 1.6M 74.28
Wells Fargo & Company (WFC) 0.9 $108M 3.1M 34.53
Avnet (AVT) 0.6 $72M 2.5M 29.09
Willis Group Holdings 0.5 $56M 1.5M 36.92
Cisco Systems (CSCO) 0.5 $55M 2.9M 19.09
Brady Corporation (BRC) 0.4 $52M 1.8M 29.28
General Motors Company (GM) 0.4 $51M 2.2M 22.75
Owens Corning (OC) 0.4 $47M 1.4M 33.46
Valassis Communications 0.4 $46M 1.9M 24.69
Key (KEY) 0.4 $44M 5.0M 8.74
Hospitality Properties Trust 0.3 $42M 1.8M 23.78
Regions Financial Corporation (RF) 0.3 $41M 5.6M 7.21
Mohawk Industries (MHK) 0.3 $41M 507k 80.02
Comerica Incorporated 0.3 $40M 1.3M 31.05
Jones Group 0.3 $39M 3.0M 12.87
Torchmark Corporation 0.3 $39M 753k 51.35
Primerica (PRI) 0.3 $38M 1.3M 28.64
Fifth Third Ban (FITB) 0.3 $37M 2.4M 15.51
Con-way 0.3 $36M 1.3M 27.37
Curtiss-Wright (CW) 0.3 $35M 1.1M 32.70
Hospira 0.3 $34M 1.0M 32.82
Apache Corporation 0.3 $34M 390k 86.47
Kohl's Corporation (KSS) 0.3 $33M 650k 51.22
United Stationers 0.3 $33M 1.3M 26.02
Actuant Corporation 0.3 $33M 1.2M 28.62
Quest Diagnostics Incorporated (DGX) 0.3 $33M 527k 63.43
VCA Antech 0.3 $33M 1.7M 19.73
General Dynamics Corporation (GD) 0.3 $32M 487k 66.12
Forest Laboratories 0.3 $32M 911k 35.61
Bbcn Ban 0.3 $33M 2.6M 12.61
PHH Corporation 0.3 $32M 1.5M 20.35
Harte-Hanks 0.2 $30M 4.3M 6.93
Ingram Micro 0.2 $30M 2.0M 15.23
Aspen Insurance Holdings 0.2 $28M 926k 30.49
Griffon Corporation (GFF) 0.2 $28M 2.7M 10.30
Webster Financial Corporation (WBS) 0.2 $29M 1.2M 23.70
ARGO GROUP INTERNATIONAL Holdi Com Stk 0.2 $28M 873k 32.39
TCF Financial Corporation 0.2 $28M 2.3M 11.94
Diodes Incorporated (DIOD) 0.2 $27M 1.6M 17.01
Thor Industries (THO) 0.2 $25M 689k 36.32
National Penn Bancshares 0.2 $25M 2.7M 9.11
American Equity Investment Life Holding 0.2 $24M 2.1M 11.63
CIRCOR International 0.2 $24M 646k 37.75
DiamondRock Hospitality Company (DRH) 0.2 $24M 2.4M 9.63
First American Financial (FAF) 0.2 $24M 1.1M 21.67
Aeropostale 0.2 $23M 1.7M 13.53
Huntington Ingalls Inds (HII) 0.2 $23M 536k 42.05
Insight Enterprises (NSIT) 0.2 $22M 1.2M 17.48
Mueller Water Products (MWA) 0.2 $20M 4.1M 4.90
Engility Hldgs 0.2 $20M 1.1M 18.45
Hartford Financial Services (HIG) 0.2 $20M 1.0M 19.44
Harsco Corporation (NVRI) 0.2 $19M 920k 20.53
Monster Worldwide 0.2 $19M 2.6M 7.33
Protective Life 0.2 $19M 729k 26.21
Avon Products 0.1 $17M 1.1M 15.95
Rent-A-Center (UPBD) 0.1 $18M 505k 35.08
Ca 0.1 $18M 685k 25.76
JAKKS Pacific 0.1 $19M 1.3M 14.57
Skechers USA 0.1 $18M 892k 20.40
DeVry 0.1 $17M 744k 22.76
Tutor Perini Corporation (TPC) 0.1 $16M 1.4M 11.44
Herman Miller (MLKN) 0.1 $16M 799k 19.44
URS Corporation 0.1 $16M 445k 35.31
Pike Electric Corporation 0.1 $13M 1.6M 7.95
WSFS Financial Corporation (WSFS) 0.1 $14M 332k 41.28
Matthews International Corporation (MATW) 0.1 $12M 392k 29.82
American Reprographics Company 0.1 $12M 2.8M 4.27
Renaissance Re Holdings Ltd Cmn (RNR) 0.1 $10M 135k 77.04
Synovus Financial 0.1 $8.9M 3.7M 2.37
Laboratory Corp. of America Holdings 0.1 $6.7M 73k 92.46
Manpower (MAN) 0.1 $6.9M 187k 36.80
OfficeMax Incorporated 0.1 $7.3M 938k 7.81
Spirit AeroSystems Holdings (SPR) 0.1 $7.4M 332k 22.21
Validus Holdings 0.1 $6.2M 183k 33.91
Taiwan Semiconductor Mfg (TSM) 0.0 $2.7M 171k 15.82
Adpt 0.0 $2.5M 101k 25.25
SK Tele 0.0 $1.3M 91k 14.55
EnerSys (ENS) 0.0 $1.7M 48k 35.29
Advanced Semiconductor Engineering 0.0 $1.1M 283k 3.73
Jarden Corporation 0.0 $872k 17k 52.84
Popular (BPOP) 0.0 $1.5M 84k 17.43
Johnson & Johnson (JNJ) 0.0 $367k 5.3k 68.88
Harris Corporation 0.0 $10k 197.00 50.76
Eni S.p.A. (E) 0.0 $357k 8.2k 43.80
Usinas Siderurgicas de Minas G (USNZY) 0.0 $300k 60k 5.01