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 |
Corning
GLW
|
+$153M |
| 2 |
News Corp Class A
NWSA
|
+$97.3M |
| 3 |
Citigroup
C
|
+$96.9M |
| 4 |
State Street
STT
|
+$94.6M |
| 5 |
Intel
INTC
|
+$93.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LLL
L3 Technologies, Inc.
LLL
|
+$154M |
| 2 |
HP
HPQ
|
+$106M |
| 3 |
Aptiv
APTV
|
+$104M |
| 4 |
TE Connectivity
TEL
|
+$92.7M |
| 5 |
Oracle
ORCL
|
+$89.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.82% |
| 2 | Technology | 19.13% |
| 3 | Energy | 12.45% |
| 4 | Healthcare | 8.16% |
| 5 | Communication Services | 6.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Assurant
AIZ
$14B
| $72.8M | 0.42% |
1,121,234
+30,366
| +3% | +$1.99M |
|
52
KeyCorp
KEY
$23.3B
| $64.6M | 0.37% |
4,536,975
-2,282,850
| -33% | -$30.6M |
|
53
Regions Financial
RF
$25.9B
| $64.1M | 0.37% |
5,770,361
+177,950
| +3% | +$1.87M |
|
54
Allstate
ALL
$64.2B
| $60.6M | 0.35% |
1,071,697
+44,532
| +4% | +$2.39M |
|
|
URS
55
DELISTED
URS CORP
URS
| $58.6M | 0.34% |
1,245,093
+147,567
| +13% | +$7.15M |
|
|
AET
56
DELISTED
Aetna Inc
AET
| $58.2M | 0.33% |
776,431
+42,485
| +6% | +$3.01M |
|
|
FITB
57
Fifth Third Bancorp
FITB
$49.7B
| $56.7M | 0.32% |
2,469,250
+100,950
| +4% | +$2.2M |
|
58
Quest Diagnostics
DGX
$27B
| $56.3M | 0.32% |
972,200
-242,850
| -20% | -$13M |
|
|
59
Aptiv
APTV
$10B
| $56.3M | 0.32% |
829,678
-1,631,462
| -66% | -$104M |
|
|
DOOR
60
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $55M | 0.32% |
973,695
-24,631
| -2% | -$1.39M |
|
61
Terex
TEX
$7.6B
| $54.5M | 0.31% |
1,230,566
+1,104,272
| +874% | +$46.4M |
|
62
Hartford Financial Services
HIG
$36.9B
| $52.8M | 0.3% |
1,497,369
+68,475
| +5% | +$2.38M |
|
63
Dana Inc
DAN
$3.41B
| $52.3M | 0.3% |
2,249,595
-165,014
| -7% | -$3.42M |
|
64
Owens Corning
OC
$11.7B
| $51.9M | 0.3% |
1,202,105
-150,167
| -11% | -$6.32M |
|
|
SVC
65
Service Properties Trust
SVC
$1.05B
| $49M | 0.28% |
343,720
+40,626
| +13% | +$5.41M |
|
|
CNW
66
DELISTED
CON-WAY INC.
CNW
| $48.9M | 0.28% |
1,189,444
+210,143
| +21% | +$8.27M |
|
67
Molson Coors Class B
TAP
$8.01B
| $46.5M | 0.27% |
789,850
-750
| -0.1% | -$41.9K |
|
|
LLL
68
DELISTED
L3 Technologies, Inc.
LLL
| $45.3M | 0.26% |
383,648
-1,378,214
| -78% | -$154M |
|
69
Murphy USA
MUSA
$10.5B
| $43.7M | 0.25% |
1,077,569
+162,170
| +18% | +$6.56M |
|
70
Piper Sandler
PIPR
$5.3B
| $43M | 0.25% |
3,759,852
+748,248
| +25% | +$7.61M |
|
71
Diodes
DIOD
$4.33B
| $43M | 0.25% |
1,645,500
+215,770
| +15% | +$5.18M |
|
72
Brady Corp
BRC
$4.3B
| $41.1M | 0.24% |
1,515,363
+370,423
| +32% | +$10.4M |
|
73
Upbound Group
UPBD
$1.1B
| $40.8M | 0.23% |
1,533,547
+578,694
| +61% | +$15.7M |
|
74
General Dynamics
GD
$104B
| $40M | 0.23% |
367,625
-200,200
| -35% | -$20.7M |
|
75
Primerica
PRI
$9.1B
| $39.8M | 0.23% |
844,745
+120,690
| +17% | +$5.36M |
|
Similar funds
Richard Pzena's Q1 2014 Portfolio in Review
As of Q1 2014, Richard Pzena held 150 positions worth $17.4B, up 1.8% from $17.1B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Richard Pzena's Q1 2014 filing shows 20 new, 57 increased, 66 reduced and 4 closed positions. Its largest new stake was Associated Banc-Corp: 1,687,823 shares worth $30.5M. The largest sale was L3 Technologies, Inc., an estimated $154M.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 34% a quarter earlier, followed by Technology and Energy.
- Richard Pzena's largest Q1 2014 buy was Associated Banc-Corp: 1,687,823 shares worth $30.5M.
- Richard Pzena added most to Corning in Q1 2014, an estimated $153M increase.
- Richard Pzena's biggest Q1 2014 reduction was L3 Technologies, Inc., cutting an estimated $154M.
- Richard Pzena fully exited Alphabet (Google) Class C in Q1 2014, selling an estimated $87.4M.
- Richard Pzena's ten largest holdings make up 31% of its $17.4B portfolio in Q1 2014.
- Richard Pzena opened 20 new positions and closed 4 in Q1 2014.
- Richard Pzena's portfolio value rose 1.8% quarter-over-quarter to $17.4B.
Based on Pzena Investment Management's 13F filing for Q1 2014, filed 9 May 2014.