SCHEDULE: Pzena Investment Management Discloses 9% Stake in LKQ Corp

Pzena Investment Management, LLC has filed a Schedule 13G, reporting beneficial ownership of 9.0% of LKQ Corporation's common stock as of September 30, 2026.

Summary

• Pzena Investment Management, LLC has filed an amendment to its Schedule 13G, reporting its beneficial ownership of LKQ Corporation's common stock.
• As of September 30, 2026, Pzena Investment Management holds 22,892,238 shares, representing 9.0% of the class of securities.
• The filing indicates sole voting power over 17,487,322 shares and sole dispositive power over all 22,892,238 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, indicating a significant but not dominant ownership stake by an institutional investor, with no immediate red flags.

Positives

• Pzena Investment Management, a notable investment manager, has taken a significant stake (9.0%) in LKQ Corporation.
• The filing confirms that the shares were acquired and are held in the ordinary course of business, suggesting a standard investment strategy rather than a hostile takeover attempt.

Negatives

• No specific negative financial or operational information is presented in this filing, as it is primarily a disclosure of ownership.

Risks

• While not explicitly stated as a risk in this filing, a significant ownership stake by an institutional investor could lead to increased scrutiny or pressure on management regarding company strategy and performance.

Future Outlook

This filing does not contain forward-looking statements or guidance from LKQ Corporation. It is a disclosure of ownership by Pzena Investment Management.

Management Comments

• Pzena Investment Management, LLC certifies that the securities 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.

Industry Context

StockSavvy.ai notes that significant institutional ownership, as disclosed by Pzena Investment Management in LKQ Corp, is common in the automotive parts and services industry. Such stakes often signal confidence from investors in the company's long-term prospects or potential for operational improvements.

Comparison to Industry Standards

• Ownership stakes of 9.0% by institutional investors are substantial and can be comparable to those held by other large asset managers in the automotive aftermarket sector. For instance, major index funds or dedicated automotive sector funds might hold similar or larger positions depending on their investment mandates.

Stakeholder Impact

• Shareholders: The increased visibility from a significant institutional holder like Pzena Investment Management may attract further investor interest or signal confidence in LKQ Corp's strategy.
• Management: LKQ Corp's management may face increased engagement or scrutiny from Pzena Investment Management regarding corporate strategy and performance.

Next Steps

• Pzena Investment Management will continue to hold its shares in LKQ Corporation, subject to its investment strategy.
• Further filings may be required if Pzena's ownership stake changes significantly.

Key Dates

Keywords

LKQ Corp, Pzena Investment Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Investment Management