Pzena Investment Management discloses 3.9% Avnet (AVT) ownership stake

Rhea-AI Filing Summary

Pzena Investment Management, LLC filed an amended Schedule 13G reporting beneficial ownership of 3,226,409 shares of Avnet, Inc. common stock, representing 3.9% of the class as of June 30, 2026.

Pzena has sole voting power over 1,922,351 shares and sole dispositive power over 3,226,409 shares, with no shared voting or dispositive power. The Avnet shares are held for Pzena’s investment-management clients, who are entitled to dividends and sale proceeds, and no client holds more than five percent of the class.

Key Figures

Beneficial ownership: 3,226,409 shares Percent of class: 3.9 % Sole voting power: 1,922,351 shares +3 more

6 metrics

Beneficial ownership 3,226,409 shares Shares of Avnet, Inc. common stock beneficially owned by Pzena Investment Management, LLC

Percent of class 3.9 % Portion of Avnet, Inc. common stock class beneficially owned by Pzena

Sole voting power 1,922,351 shares Avnet shares over which Pzena has sole power to vote or direct the vote

Shared voting power 0 shares Avnet shares over which Pzena has shared power to vote or direct the vote

Sole dispositive power 3,226,409 shares Avnet shares over which Pzena has sole power to dispose or direct the disposition

Shared dispositive power 0 shares Avnet shares over which Pzena has shared power to dispose or direct the disposition

Key Terms

beneficially owned, Sole Dispositive Power, Ownership of 5 Percent or Less of a Class, Investment Company Act of 1940

4 terms

beneficially owned financial

"Amount beneficially owned: 3,226,409 (b) | Percent of class: 3.9 %"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Dispositive Power financial

"Sole Dispositive Power 3,226,409.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Ownership of 5 Percent or Less of a Class regulatory

"Item 5. | Ownership of 5 Percent or Less of a Class."

Investment Company Act of 1940 regulatory

"investment company registered under the Investment Company Act of 1940 or the beneficiaries"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

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Available on EDGAR 07/15/2026 - 10:29 AM Accepted by SEC EDGAR 07/15/2026 - 10:29 AM Learn about SEC filing dates

FAQ

What ownership stake in Avnet (AVT) does Pzena report in this Schedule 13G/A?

Pzena reports beneficial ownership of 3,226,409 Avnet common shares, equal to 3.9% of the class as of June 30, 2026. This reflects a sizable institutional position, though it remains below the five percent level often associated with larger block holders.

How much voting power does Pzena have over Avnet (AVT) shares?

Pzena has sole voting power over 1,922,351 Avnet shares and no shared voting power. It also holds sole dispositive power over 3,226,409 shares, meaning it alone can decide whether to sell or otherwise dispose of those securities.

Who ultimately benefits from dividends and sale proceeds on the Avnet (AVT) shares?

Pzena states that its clients have the right to receive, and the ultimate power to direct, dividends and sale proceeds from the Avnet shares. It also notes that no individual client has an interest relating to more than five percent of the class.

What does Item 5 ‘Ownership of 5 Percent or Less of a Class’ indicate for Avnet (AVT)?

Item 5 confirms that Pzena’s reported position represents 5 percent or less of Avnet’s outstanding common stock. This indicates Pzena is below the threshold typically associated with being a five-percent beneficial owner for regulatory reporting purposes.

Where is Pzena Investment Management, LLC organized and where is its principal office?

Pzena Investment Management, LLC is organized in Delaware and lists its principal business office at 320 Park Avenue, 8th Floor, New York, NY 10022. This information identifies the jurisdiction of organization and main business location of the filing investment manager.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

AVNET INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

053807103

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 053807103

1

Names of Reporting Persons

PZENA INVESTMENT MANAGEMENT LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,922,351.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,226,409.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,226,409.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AVNET INC
(b)	Address of issuer's principal executive offices: 2211 SOUTH 47TH STREET, 2211 SOUTH 47TH STREET, PHOENIX, ARIZONA, 85034.
Item 2.
(a)	Name of person filing: Pzena Investment Management, LLC
(b)	Address or principal business office or, if none, residence: 320 Park Avenue, 8th floor New York, NY 10022
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 053807103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,226,409
(b)	Percent of class: 3.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,922,351
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,226,409
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. CLIENTS OF THE FILING INVESTMENT MANAGER HAVE THE RIGHT TO RECEIVE AND THE ULTIMATE POWER TO DIRECT THE RECEIPT OF DIVIDENDS FROM, OR THE PROCEEDS OF SALE OF THE SECURITIES REPORTED ON HEREINABOVE. NO INTEREST OF ANY ONE OF SUCH CLIENTS RELATES TO MORE THAN FIVE PERCENT OF THE CLASS.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, 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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PZENA INVESTMENT MANAGEMENT LLC

Signature:	s/Steven Coffey
Name/Title:	Chief Legal Risk Officer & Chief Compliance Officer
Date:	07/15/2026