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 |
Charter Communications
CHTR
|
+$450M |
| 2 |
CVS Health
CVS
|
+$361M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$341M |
| 4 |
Magna International
MGA
|
+$285M |
| 5 |
Dollar General
DG
|
+$275M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wabtec
WAB
|
+$366M |
| 2 |
GE Aerospace
GE
|
+$186M |
| 3 |
Gildan
GIL
|
+$165M |
| 4 |
PVH
PVH
|
+$129M |
| 5 |
Acuity Brands
AYI
|
+$97.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.63% |
| 2 | Technology | 15.19% |
| 3 | Healthcare | 14.25% |
| 4 | Consumer Discretionary | 14.18% |
| 5 | Consumer Staples | 5.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Skyworks Solutions
SWKS
$10.1B
| $371M | 1.28% |
3,429,148
+740,048
| +28% | +$77.6M |
|
27
Fresenius Medical Care
FMS
$12.5B
| $314M | 1.08% |
16,271,972
+4,480
| +0% | +$88.8K |
|
|
28
Dollar General
DG
$27.2B
| $302M | 1.04% |
+1,933,475
| New | +$275M |
|
29
Global Payments
GPN
$24.7B
| $292M | 1% |
2,183,075
-9,152
| -0.4% | -$1.21M |
|
30
Voya Financial
VOYA
$8.86B
| $279M | 0.96% |
3,780,540
-478
| -0% | -$33.7K |
|
|
31
Wabtec
WAB
$50.3B
| $270M | 0.93% |
1,850,334
-2,700,906
| -59% | -$366M |
|
32
JPMorgan Chase
JPM
$935B
| $263M | 0.9% |
1,314,755
-453,519
| -26% | -$81.8M |
|
33
Shell
SHEL
$257B
| $261M | 0.9% |
3,893,439
-4,652
| -0.1% | -$298K |
|
34
Nokia
NOK
$57B
| $239M | 0.82% |
67,489,193
+15,175,751
| +29% | +$54M |
|
35
Pfizer
PFE
$160B
| $213M | 0.73% |
7,670,445
+4,947,000
| +182% | +$137M |
|
36
Goldman Sachs
GS
$303B
| $197M | 0.68% |
471,640
-1,209
| -0.3% | -$469K |
|
37
Cigna
CI
$73.3B
| $197M | 0.68% |
541,408
-2,918
| -0.5% | -$961K |
|
38
Mohawk Industries
MHK
$9.23B
| $191M | 0.66% |
1,462,593
-46,971
| -3% | -$5.28M |
|
39
CNO Financial Group
CNO
$4.95B
| $180M | 0.62% |
6,536,980
-445,704
| -6% | -$12M |
|
|
40
Gildan
GIL
$10.4B
| $176M | 0.6% |
4,743,931
-4,858,215
| -51% | -$165M |
|
41
Olin
OLN
$2.1B
| $169M | 0.58% |
2,878,218
-24,467
| -0.8% | -$1.31M |
|
42
Credicorp
BAP
$30.1B
| $158M | 0.54% |
933,764
+35,167
| +4% | +$5.66M |
|
43
JELD-WEN Holding
JELD
$200M
| $157M | 0.54% |
7,381,799
+34,604
| +0.5% | +$646K |
|
44
American International
AIG
$39.8B
| $132M | 0.45% |
1,694,874
-8,808
| -0.5% | -$629K |
|
45
Walt Disney
DIS
$186B
| $128M | 0.44% |
1,046,343
-706,557
| -40% | -$73.8M |
|
46
Humana
HUM
$45.5B
| $126M | 0.43% |
362,972
+361,993
| +36,976% | +$137M |
|
47
ZTO Express
ZTO
$16.2B
| $123M | 0.42% |
5,889,745
+4,794,773
| +438% | +$91.7M |
|
|
GAP
48
The Gap Inc
GAP
$7.13B
| $121M | 0.42% |
4,394,196
-1,183,142
| -21% | -$25M |
|
49
Leidos
LDOS
$17.7B
| $119M | 0.41% |
907,485
-237,635
| -21% | -$28.3M |
|
50
Spectrum Brands
SPB
$2B
| $117M | 0.4% |
1,315,483
+234,784
| +22% | +$19.2M |
|
Similar funds
Richard Pzena's Q1 2024 Portfolio in Review
As of Q1 2024, Richard Pzena held 172 positions worth $29.1B, up 9.5% from $26.6B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Richard Pzena's Q1 2024 filing shows 8 new, 51 increased, 94 reduced and 13 closed positions. Its largest new stake was Dollar General: 1,933,475 shares worth $302M. The largest sale was Wabtec, an estimated $366M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, down from 30% a quarter earlier, followed by Technology and Healthcare.
- Richard Pzena's largest Q1 2024 buy was Dollar General: 1,933,475 shares worth $302M.
- Richard Pzena added most to Charter Communications in Q1 2024, an estimated $450M increase.
- Richard Pzena's biggest Q1 2024 reduction was Wabtec, cutting an estimated $366M.
- Richard Pzena fully exited Juniper Networks in Q1 2024, selling an estimated $36.3M.
- Richard Pzena's ten largest holdings make up 37% of its $29.1B portfolio in Q1 2024.
- Richard Pzena opened 8 new positions and closed 13 in Q1 2024.
- Richard Pzena's portfolio value rose 9.5% quarter-over-quarter to $29.1B.
Based on Pzena Investment Management's 13F filing for Q1 2024, filed 3 May 2024.