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 | |
|---|---|---|---|---|---|---|
51
Halliburton
HAL
$29.4B
| $133M | 0.39% |
3,925,702
-141,339
| -3% | -$5.52M |
|
52
KE Holdings
BEKE
$19.6B
| $129M | 0.38% |
+8,877,643
| New | +$146M |
|
53
KT
KT
$9B
| $126M | 0.37% |
7,286,500
+110,953
| +2% | +$2.21M |
|
54
CNO Financial Group
CNO
$4.95B
| $124M | 0.37% |
2,441,665
-29,256
| -1% | -$1.36M |
|
55
TE Connectivity
TEL
$58.9B
| $112M | 0.33% |
555,637
-48,341
| -8% | -$10.3M |
|
56
Globant
GLOB
$1.71B
| $112M | 0.33% |
3,859,718
+890,890
| +30% | +$35.6M |
|
57
JPMorgan Chase
JPM
$935B
| $109M | 0.32% |
334,094
-3,168
| -0.9% | -$984K |
|
58
Sensata Technologies
ST
$6.23B
| $108M | 0.32% |
2,251,907
-1,230,359
| -35% | -$55.6M |
|
59
Morgan Stanley
MS
$336B
| $95M | 0.28% |
454,492
-21,873
| -5% | -$4.33M |
|
60
Genpact
G
$6.24B
| $91.3M | 0.27% |
3,319,546
+2,587,492
| +353% | +$85M |
|
|
FITB
61
Fifth Third Bancorp
FITB
$49.7B
| $89.3M | 0.26% |
1,584,757
-51,060
| -3% | -$2.59M |
|
62
Arcos Dorados Holdings
ARCO
$1.68B
| $87.1M | 0.26% |
10,804,358
+63,192
| +0.6% | +$546K |
|
63
Elevance Health
ELV
$86.9B
| $86.8M | 0.25% |
224,575
+4,399
| +2% | +$1.63M |
|
64
Walt Disney
DIS
$186B
| $85M | 0.25% |
883,495
+793,276
| +879% | +$80.9M |
|
65
Constellation Brands
STZ
$23.2B
| $83.4M | 0.24% |
599,314
+3,519
| +0.6% | +$523K |
|
66
ExxonMobil
XOM
$679B
| $80.6M | 0.24% |
589,449
-27,695
| -4% | -$4.15M |
|
67
ABM Industries
ABM
$2.74B
| $80M | 0.23% |
1,808,203
+285,267
| +19% | +$11.7M |
|
68
Olin
OLN
$2.1B
| $77.1M | 0.23% |
3,890,204
-541,409
| -12% | -$14.2M |
|
69
Concentrix
CNXC
$1.55B
| $76.5M | 0.22% |
3,413,879
+470,667
| +16% | +$12.3M |
|
70
Teleflex
TFX
$5.88B
| $76.5M | 0.22% |
603,206
-95,919
| -14% | -$12.3M |
|
71
Douglas Dynamics
PLOW
$973M
| $74.7M | 0.22% |
1,384,680
-208,453
| -13% | -$9.61M |
|
72
Old National Bancorp
ONB
$9.87B
| $73.6M | 0.22% |
2,843,497
+149,855
| +6% | +$3.6M |
|
73
Henry Schein
HSIC
$9.86B
| $71.9M | 0.21% |
860,733
-26,906
| -3% | -$2.06M |
|
74
Genuine Parts
GPC
$18.5B
| $69.8M | 0.21% |
591,970
+17,882
| +3% | +$1.87M |
|
75
Adient
ADNT
$1.54B
| $69.3M | 0.2% |
3,771,026
+135,729
| +4% | +$2.9M |
|
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.