Core Insights - Pzena Investment Management's third-quarter 2025 commentary indicates a strong performance in US broad-based indexes driven by optimism about AI and a rate cut in September, with the technology sector outperforming value stocks [1] - The Pzena Focused Value strategy returned 1.1% gross and 0.9% net, underperforming the Russell 1000 Value Index, which returned 5.3% [1] Company Analysis: Charter Communications, Inc. (NASDAQ:CHTR) - Charter Communications experienced a one-month return of -3.73% and a 52-week decline of 45.80%, closing at $205.13 per share with a market capitalization of $28.019 billion as of December 09, 2025 [2] - The company faced significant challenges, reporting higher-than-expected subscriber losses, leading to a conclusion that competitive pressures in the industry are more severe and persistent than anticipated, resulting in the exit from the position by Pzena [3] - Despite its potential, Charter Communications is not among the 30 most popular stocks among hedge funds, with 53 hedge fund portfolios holding the stock at the end of Q3 2025, down from 56 in the previous quarter [4]