SCHEDULE: Pzena Investment Management Discloses 5.0% Stake in Arcos Dorados Holdings

Pzena Investment Management LLC has disclosed a 5.0% beneficial ownership stake in Arcos Dorados Holdings Inc., holding 6,533,482 shares of common stock.

Summary

• Pzena Investment Management LLC reported beneficial ownership of 6,533,482 shares of Arcos Dorados Holdings Inc. common stock.
• This ownership represents 5.0% of the total class of securities.
• Pzena Investment Management LLC holds sole voting power over 3,978,366 shares and sole dispositive power over all 6,533,482 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• The event requiring this filing occurred on June 30, 2025.

Sentiment

Score: 6

Explanation: The disclosure of a significant institutional stake is generally viewed as a positive signal of investor confidence, although the filing itself is purely informational and does not contain performance data.

Positives

• A significant institutional investor, Pzena Investment Management LLC, has taken a 5.0% stake in Arcos Dorados Holdings Inc., potentially signaling confidence in the company's value.
• The acquisition of shares was stated to be in the ordinary course of business, indicating a long-term investment perspective rather than an activist stance.

Negatives

• No specific negative information is disclosed in this beneficial ownership filing.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating potential risks associated with activist investor intervention.

Future Outlook

No forward-looking statements or guidance regarding the issuer's future performance or operations are provided in this beneficial ownership disclosure.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

This filing indicates a notable institutional investment in Arcos Dorados Holdings Inc., a common occurrence in the public markets where investment managers acquire stakes in companies they believe are undervalued or have strong growth prospects. Such disclosures provide transparency into significant ownership positions, which can influence market perception and investor sentiment within the broader industry.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor taking a stake may be perceived positively, potentially boosting investor confidence and share price.

Key Dates

Keywords

Arcos Dorados Holdings Inc., Pzena Investment Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investment, SEC Filing, G0457F107