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Pzena Investment Management Portfolio holdings
AUM
$30.8B
1-Year Est. Return
11.29%
This Fund
S&P 500
This Quarter
Est. Return
+6.2%
1 Year Est. Return
+11.29%
3 Year Est. Return
+35.84%
5 Year Est. Return
+55.56%
10 Year Est. Return
+196.8%
AUM
$18.7B
AUM Growth
+$423M
(+2.3%)
Cap. Flow
-$569M
Cap. Flow
% of AUM
-3.04%
Top 10 Holdings %
Top 10 Hldgs %
28.44%
Holding
150
New
6
Increased
45
Reduced
78
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baxter International
BAX
|
+$283M |
| 2 |
UBS Group
UBS
|
+$269M |
| 3 |
Ford
F
|
+$222M |
| 4 |
Stanley Black & Decker
SWK
|
+$204M |
| 5 |
XL
XL Group Ltd.
XL
|
+$115M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Becton Dickinson
BDX
|
+$305M |
| 2 |
General Motors
GM
|
+$240M |
| 3 |
PRE
PARTNERRE LTD
PRE
|
+$110M |
| 4 |
SPLS
Staples Inc
SPLS
|
+$110M |
| 5 |
HP
HPQ
|
+$96.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.02% |
| 2 | Technology | 17.99% |
| 3 | Energy | 10.81% |
| 4 | Industrials | 8.66% |
| 5 | Healthcare | 8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
HP
HPQ
$26.3B
| $731M | 3.91% |
40,134,989
-5,746,130
| -13% | -$96.3M |
|
2
Bank of America
BAC
$433B
| $559M | 2.98% |
31,223,345
-427,058
| -1% | -$7.31M |
|
3
Oracle
ORCL
$349B
| $551M | 2.94% |
12,248,441
+48,508
| +0.4% | +$1.97M |
|
4
Citigroup
C
$217B
| $536M | 2.86% |
9,906,230
-246,299
| -2% | -$13.1M |
|
5
Cigna
CI
$78.6B
| $531M | 2.84% |
5,158,791
-425,972
| -8% | -$42M |
|
6
American International
AIG
$42.6B
| $527M | 2.82% |
9,416,582
-320,714
| -3% | -$17.2M |
|
|
RDS.A
7
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $486M | 2.59% |
7,252,999
+288,218
| +4% | +$19.9M |
|
8
Omnicom Group
OMC
$23.6B
| $473M | 2.53% |
6,104,146
-230,364
| -4% | -$16.8M |
|
9
Parker-Hannifin
PH
$122B
| $466M | 2.49% |
3,614,628
-176,035
| -5% | -$21.6M |
|
10
BP
BP
$112B
| $464M | 2.48% |
14,668,505
+801,146
| +6% | +$26.9M |
|
|
SPLS
11
DELISTED
Staples Inc
SPLS
| $461M | 2.46% |
25,452,479
-7,856,346
| -24% | -$110M |
|
12
Intel
INTC
$438B
| $453M | 2.42% |
12,489,655
-525,213
| -4% | -$18.3M |
|
13
Morgan Stanley
MS
$325B
| $449M | 2.4% |
11,568,574
-982,142
| -8% | -$34.9M |
|
14
News Corp Class A
NWSA
$15.7B
| $416M | 2.22% |
26,499,842
+2,100,200
| +9% | +$32.3M |
|
15
State Street
STT
$49.2B
| $396M | 2.12% |
5,044,580
-753,826
| -13% | -$56.6M |
|
16
ExxonMobil
XOM
$648B
| $395M | 2.11% |
4,274,944
-31,607
| -0.7% | -$2.95M |
|
17
Microsoft
MSFT
$2.96T
| $393M | 2.1% |
8,451,927
-1,679,975
| -17% | -$78.9M |
|
18
JPMorgan Chase
JPM
$928B
| $370M | 1.98% |
5,915,463
-431,066
| -7% | -$25.9M |
|
19
AXIS Capital
AXS
$7.75B
| $362M | 1.93% |
7,078,975
+733,126
| +12% | +$35.9M |
|
20
Voya Financial
VOYA
$9.03B
| $355M | 1.9% |
8,369,969
-589,845
| -7% | -$23.6M |
|
21
Goldman Sachs
GS
$295B
| $344M | 1.84% |
1,773,174
-130,024
| -7% | -$24.4M |
|
22
MetLife
MET
$62.6B
| $328M | 1.75% |
6,794,722
-136,955
| -2% | -$6.51M |
|
|
IPG
23
DELISTED
Interpublic Group of Companies
IPG
| $309M | 1.65% |
14,870,805
+23,812
| +0.2% | +$458K |
|
24
Abbott
ABT
$188B
| $309M | 1.65% |
6,860,439
-427,084
| -6% | -$18.6M |
|
|
TRW
25
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
| $302M | 1.61% |
2,932,176
-429,455
| -13% | -$43.8M |
|
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Pzena Investment Management's Q4 2014 Portfolio in Review
As of Q4 2014, Pzena Investment Management held 150 positions worth $18.7B, up 2.3% from $18.3B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Pzena Investment Management withdrew a net $569M in Q4 2014, closing 9 positions and reducing 78 holdings. Its most notable exit was General Motors, an estimated $240M position sold in full.
By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 36% a quarter earlier, followed by Technology and Energy.
Against the trend, Pzena Investment Management opened a new position in Baxter International worth $289M.
- Pzena Investment Management's largest Q4 2014 buy was Baxter International: 7,261,162 shares worth $289M.
- Pzena Investment Management added most to XL Group Ltd. in Q4 2014, an estimated $115M increase.
- Pzena Investment Management's biggest Q4 2014 reduction was Becton Dickinson, cutting an estimated $305M.
- Pzena Investment Management fully exited General Motors in Q4 2014, selling an estimated $240M.
- Pzena Investment Management's ten largest holdings make up 28% of its $18.7B portfolio in Q4 2014.
- Pzena Investment Management opened 6 new positions and closed 9 in Q4 2014.
- Pzena Investment Management's portfolio value rose 2.3% quarter-over-quarter to $18.7B.
Based on Pzena Investment Management's 13F filing for Q4 2014, filed 6 Feb 2015.