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 |
SS&C Technologies
SSNC
|
+$261M |
| 2 |
Citigroup
C
|
+$168M |
| 3 |
GE Aerospace
GE
|
+$154M |
| 4 |
Gildan
GIL
|
+$117M |
| 5 |
Capital One
COF
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baker Hughes
BKR
|
+$351M |
| 2 |
American International
AIG
|
+$292M |
| 3 |
Halliburton
HAL
|
+$227M |
| 4 |
Stanley Black & Decker
SWK
|
+$141M |
| 5 |
ExxonMobil
XOM
|
+$125M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.02% |
| 2 | Technology | 15.91% |
| 3 | Consumer Discretionary | 13.42% |
| 4 | Industrials | 10.71% |
| 5 | Healthcare | 10.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SCS
51
DELISTED
Steelcase
SCS
| $99.9M | 0.45% |
9,307,779
+1,368,986
| +17% | +$15.8M |
|
52
Belden
BDC
$4.79B
| $97.1M | 0.43% |
1,822,722
-44,423
| -2% | -$2.38M |
|
|
WBS
53
DELISTED
Webster Financial
WBS
| $96.1M | 0.43% |
2,278,828
-50,198
| -2% | -$2.42M |
|
54
Elevance Health
ELV
$86.9B
| $92.8M | 0.42% |
192,372
+1,626
| +0.9% | +$804K |
|
55
Spectrum Brands
SPB
$2B
| $87.1M | 0.39% |
1,061,585
-13,075
| -1% | -$1.12M |
|
56
UBS Group
UBS
$163B
| $82.5M | 0.37% |
5,088,031
-1,474,186
| -22% | -$25.8M |
|
|
GAP
57
The Gap Inc
GAP
$7.13B
| $82.4M | 0.37% |
9,999,535
+5,164,730
| +107% | +$59.8M |
|
58
Dana Inc
DAN
$3.41B
| $81.6M | 0.37% |
5,798,157
+932,632
| +19% | +$14.5M |
|
59
General Dynamics
GD
$104B
| $76.4M | 0.34% |
345,443
+70
| +0% | +$16.1K |
|
60
Enerpac Tool Group
EPAC
$1.9B
| $74.7M | 0.33% |
3,928,715
-62,197
| -2% | -$1.25M |
|
61
Ryder
R
$9.58B
| $70.6M | 0.32% |
993,551
-54,501
| -5% | -$4M |
|
62
Associated Banc-Corp
ASB
$5.82B
| $69M | 0.31% |
3,780,176
+1,774
| +0% | +$35.9K |
|
63
Celestica
CLS
$37.4B
| $68M | 0.3% |
7,000,230
-228,565
| -3% | -$2.45M |
|
64
Regions Financial
RF
$25.9B
| $67.2M | 0.3% |
3,585,733
-7,965
| -0.2% | -$164K |
|
65
Old National Bancorp
ONB
$9.87B
| $66M | 0.3% |
4,461,199
+10,646
| +0.2% | +$164K |
|
66
MasTec
MTZ
$21.4B
| $65.6M | 0.29% |
916,003
+207,100
| +29% | +$16.1M |
|
|
AEL
67
DELISTED
American Equity Investment Life Holding Company
AEL
| $63.7M | 0.29% |
1,743,109
-78,264
| -4% | -$2.98M |
|
68
Morgan Stanley
MS
$336B
| $59.2M | 0.27% |
778,946
-54,048
| -6% | -$4.43M |
|
|
UMPQ
69
DELISTED
Umpqua Holdings Corp
UMPQ
| $59.1M | 0.26% |
3,526,700
+658,030
| +23% | +$11.4M |
|
70
Orion
OEC
$346M
| $58.1M | 0.26% |
3,741,388
+29,679
| +0.8% | +$497K |
|
|
MRC
71
DELISTED
MRC Global
MRC
| $54.7M | 0.25% |
5,494,016
+480,535
| +10% | +$5.33M |
|
72
Reinsurance Group of America
RGA
$15.9B
| $54.4M | 0.24% |
463,961
+2,536
| +0.5% | +$294K |
|
|
73
Baker Hughes
BKR
$61.9B
| $53.1M | 0.24% |
1,839,376
-10,373,746
| -85% | -$351M |
|
74
Diamondrock Hospitality Co
DRH
$2.62B
| $52.7M | 0.24% |
6,413,413
-152,459
| -2% | -$1.49M |
|
75
Usana Health Sciences
USNA
$250M
| $52.5M | 0.24% |
725,651
-8,288
| -1% | -$617K |
|
Similar funds
Richard Pzena's Q2 2022 Portfolio in Review
As of Q2 2022, Richard Pzena held 182 positions worth $22.3B, down 16% from $26.5B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Richard Pzena's Q2 2022 filing shows 5 new, 63 increased, 67 reduced and 14 closed positions. Its largest new stake was GMS Inc: 1,078,363 shares worth $48M. The largest sale was Baker Hughes, an estimated $351M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 26% a quarter earlier, followed by Technology and Consumer Discretionary.
- Richard Pzena's largest Q2 2022 buy was GMS Inc: 1,078,363 shares worth $48M.
- Richard Pzena added most to SS&C Technologies in Q2 2022, an estimated $261M increase.
- Richard Pzena's biggest Q2 2022 reduction was Baker Hughes, cutting an estimated $351M.
- Richard Pzena fully exited Stanley Black & Decker in Q2 2022, selling an estimated $141M.
- Richard Pzena's ten largest holdings make up 35% of its $22.3B portfolio in Q2 2022.
- Richard Pzena opened 5 new positions and closed 14 in Q2 2022.
- Richard Pzena's portfolio value fell 16% quarter-over-quarter to $22.3B.
Based on Pzena Investment Management's 13F filing for Q2 2022, filed 5 Aug 2022.