Richard Pzena Pzena Investment Management
Richard Pzena is the founder of Pzena Investment Management, a firm specializing in deep-value equities worldwide. The process systematically seeks companies trading at large discounts to normalized earnings power, often when sentiment is poor. Pzena’s research-driven value approach is widely followed by institutional allocators and value-focused individuals.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Accenture
ACN
|
+$475M |
| 2 |
Dollar General
DG
|
+$378M |
| 3 |
Cognizant
CTSH
|
+$330M |
| 4 |
Workday
WDAY
|
+$250M |
| 5 |
LKQ Corp
LKQ
|
+$248M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nokia
NOK
|
+$752M |
| 2 |
Citigroup
C
|
+$342M |
| 3 |
Humana
HUM
|
+$304M |
| 4 |
Dow Inc
DOW
|
+$234M |
| 5 |
Avnet
AVT
|
+$210M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.64% |
| 2 | Healthcare | 20.26% |
| 3 | Technology | 17.99% |
| 4 | Consumer Discretionary | 15.06% |
| 5 | Consumer Staples | 8.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Magna International
MGA
$19.5B
| $2.23B | 6.54% |
23,882,824
-1,446,531
| -6% | -$90.4M |
|
|
2
Humana
HUM
$45.5B
| $1.75B | 5.13% |
4,403,136
-1,067,846
| -20% | -$304M |
|
3
Baxter International
BAX
$13.6B
| $1.39B | 4.09% |
65,295,393
+767,570
| +1% | +$14.3M |
|
4
CVS Health
CVS
$119B
| $1.22B | 3.57% |
11,769,536
-2,003,517
| -15% | -$179M |
|
|
5
Dollar General
DG
$27.2B
| $1.18B | 3.45% |
10,222,060
+3,324,519
| +48% | +$378M |
|
6
Skyworks Solutions
SWKS
$10.1B
| $1.08B | 3.18% |
15,973,040
-135,098
| -0.8% | -$9.19M |
|
|
7
Cognizant
CTSH
$27.9B
| $1.03B | 3.02% |
26,529,172
+6,266,810
| +31% | +$330M |
|
8
Bristol-Myers Squibb
BMY
$137B
| $980M | 2.88% |
17,007,044
-88,687
| -0.5% | -$5.09M |
|
9
Tyson Foods
TSN
$20.6B
| $974M | 2.86% |
17,016,651
-139,062
| -0.8% | -$8.7M |
|
10
Corebridge Financial
CRBG
$14.2B
| $967M | 2.84% |
33,789,727
+6,743,933
| +25% | +$182M |
|
11
PPG Industries
PPG
$25.3B
| $947M | 2.78% |
7,807,438
+328,792
| +4% | +$36.6M |
|
12
MetLife
MET
$60B
| $942M | 2.76% |
11,130,983
-172,836
| -2% | -$13.9M |
|
13
Capital One
COF
$134B
| $922M | 2.71% |
4,593,920
+13,800
| +0.3% | +$2.64M |
|
14
UBS Group
UBS
$163B
| $906M | 2.66% |
22,604,129
-3,940,226
| -15% | -$179M |
|
15
Lear
LEA
$8.56B
| $890M | 2.61% |
6,638,413
-120,092
| -2% | -$16.1M |
|
16
Global Payments
GPN
$24.7B
| $848M | 2.49% |
11,691,625
+76,048
| +0.7% | +$5.24M |
|
|
17
Citigroup
C
$221B
| $777M | 2.28% |
5,548,789
-2,626,575
| -32% | -$342M |
|
18
Wells Fargo
WFC
$254B
| $730M | 2.14% |
8,827,468
+54,340
| +0.6% | +$4.37M |
|
19
Amdocs
DOX
$6.41B
| $707M | 2.07% |
13,985,330
+1,304,241
| +10% | +$80M |
|
20
SS&C Technologies
SSNC
$19.5B
| $685M | 2.01% |
11,036,568
+1,337,308
| +14% | +$90.7M |
|
21
NOV
NOV
$7.28B
| $675M | 1.98% |
36,376,087
-1,159,362
| -3% | -$23.1M |
|
|
22
Accenture
ACN
$113B
| $640M | 1.88% |
5,142,176
+2,736,493
| +114% | +$475M |
|
23
PVH
PVH
$3.62B
| $445M | 1.31% |
5,986,677
+217,771
| +4% | +$18.6M |
|
|
24
LKQ Corp
LKQ
$6.52B
| $399M | 1.17% |
15,142,285
+8,909,385
| +143% | +$248M |
|
25
CDW
CDW
$17.2B
| $371M | 1.09% |
2,638,900
+1,523,365
| +137% | +$191M |
|
Similar funds
Richard Pzena's Q2 2026 Portfolio in Review
As of Q2 2026, Richard Pzena held 170 positions worth $34.1B, up 11% from $30.8B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Richard Pzena's Q2 2026 filing shows 12 new, 71 increased, 70 reduced and 9 closed positions. Its largest new stake was Workday: 1,971,270 shares worth $241M. The largest sale was Nokia, an estimated $752M.
By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 22% a quarter earlier, followed by Healthcare and Technology.
- Richard Pzena's largest Q2 2026 buy was Workday: 1,971,270 shares worth $241M.
- Richard Pzena added most to Accenture in Q2 2026, an estimated $475M increase.
- Richard Pzena's biggest Q2 2026 reduction was Nokia, cutting an estimated $752M.
- Richard Pzena fully exited Wabtec in Q2 2026, selling an estimated $91.9M.
- Richard Pzena's ten largest holdings make up 38% of its $34.1B portfolio in Q2 2026.
- Richard Pzena opened 12 new positions and closed 9 in Q2 2026.
- Richard Pzena's portfolio value rose 11% quarter-over-quarter to $34.1B.
Based on Pzena Investment Management's 13F filing for Q2 2026, filed 7 Aug 2026.