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
|
+$102M |
| 2 |
Dow Inc
DOW
|
+$62.6M |
| 3 |
Lear
LEA
|
+$55.4M |
| 4 |
Capital One
COF
|
+$54.6M |
| 5 |
GE Aerospace
GE
|
+$51.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
McKesson
MCK
|
+$247M |
| 2 |
ExxonMobil
XOM
|
+$96.7M |
| 3 |
Wabtec
WAB
|
+$62.6M |
| 4 |
Amdocs
DOX
|
+$61.5M |
| 5 |
Avnet
AVT
|
+$60.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.74% |
| 2 | Technology | 15.25% |
| 3 | Consumer Discretionary | 13.83% |
| 4 | Industrials | 11.26% |
| 5 | Healthcare | 9.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Baidu
BIDU
$31.6B
| $88.1M | 0.44% |
749,783
+14,680
| +2% | +$2M |
|
52
Elevance Health
ELV
$86.9B
| $87.2M | 0.43% |
191,992
-380
| -0.2% | -$182K |
|
53
Belden
BDC
$4.79B
| $79.8M | 0.4% |
1,329,429
-493,293
| -27% | -$31.4M |
|
54
JELD-WEN Holding
JELD
$200M
| $77M | 0.38% |
8,796,109
-60,743
| -0.7% | -$796K |
|
55
Associated Banc-Corp
ASB
$5.82B
| $74M | 0.37% |
3,683,113
-97,063
| -3% | -$1.95M |
|
56
General Dynamics
GD
$104B
| $73.3M | 0.36% |
345,499
+56
| +0% | +$12.7K |
|
57
UBS Group
UBS
$163B
| $71.6M | 0.36% |
4,931,417
-156,614
| -3% | -$2.51M |
|
58
Old National Bancorp
ONB
$9.87B
| $71M | 0.35% |
4,308,087
-153,112
| -3% | -$2.56M |
|
59
Enerpac Tool Group
EPAC
$1.9B
| $69M | 0.34% |
3,872,245
-56,470
| -1% | -$1.1M |
|
60
Regions Financial
RF
$25.9B
| $66.9M | 0.33% |
3,332,162
-253,571
| -7% | -$5.35M |
|
61
Dana Inc
DAN
$3.41B
| $65.5M | 0.33% |
5,727,040
-71,117
| -1% | -$1.08M |
|
62
Orion
OEC
$346M
| $60.6M | 0.3% |
4,537,313
+795,925
| +21% | +$12.9M |
|
|
SCS
63
DELISTED
Steelcase
SCS
| $60.3M | 0.3% |
9,254,046
-53,733
| -0.6% | -$574K |
|
64
Morgan Stanley
MS
$336B
| $60.3M | 0.3% |
763,513
-15,433
| -2% | -$1.3M |
|
|
UMPQ
65
DELISTED
Umpqua Holdings Corp
UMPQ
| $59M | 0.29% |
3,450,406
-76,294
| -2% | -$1.36M |
|
66
Celestica
CLS
$37.4B
| $57.8M | 0.29% |
6,872,080
-128,150
| -2% | -$1.3M |
|
67
MasTec
MTZ
$21.4B
| $57.1M | 0.28% |
898,809
-17,194
| -2% | -$1.33M |
|
68
Reinsurance Group of America
RGA
$15.9B
| $56M | 0.28% |
445,088
-18,873
| -4% | -$2.32M |
|
69
KeyCorp
KEY
$23.3B
| $54.2M | 0.27% |
3,381,191
+559,367
| +20% | +$10M |
|
70
WSFS Financial
WSFS
$4.08B
| $52.8M | 0.26% |
1,136,976
-45,901
| -4% | -$2.15M |
|
71
Diamondrock Hospitality Co
DRH
$2.62B
| $48.7M | 0.24% |
6,489,126
+75,713
| +1% | +$667K |
|
72
CBRE Group
CBRE
$44B
| $45.6M | 0.23% |
675,139
+311,313
| +86% | +$24.7M |
|
73
Credicorp
BAP
$30.1B
| $44.7M | 0.22% |
+363,705
| New | +$46.6M |
|
|
REVG
74
DELISTED
REV Group
REVG
| $44.1M | 0.22% |
3,995,701
-81,380
| -2% | -$935K |
|
|
FITB
75
Fifth Third Bancorp
FITB
$49.7B
| $44M | 0.22% |
1,375,531
| – | – |
|
Similar funds
Richard Pzena's Q3 2022 Portfolio in Review
As of Q3 2022, Richard Pzena held 179 positions worth $20.1B, down 9.8% from $22.3B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Richard Pzena's Q3 2022 filing shows 11 new, 33 increased, 86 reduced and 4 closed positions. Its largest new stake was Credicorp: 363,705 shares worth $44.7M. The largest sale was McKesson, an estimated $247M.
By sector, the portfolio is most concentrated in Financials at 28% of assets, up from 26% a quarter earlier, followed by Technology and Consumer Discretionary.
- Richard Pzena's largest Q3 2022 buy was Credicorp: 363,705 shares worth $44.7M.
- Richard Pzena added most to SS&C Technologies in Q3 2022, an estimated $102M increase.
- Richard Pzena's biggest Q3 2022 reduction was McKesson, cutting an estimated $247M.
- Richard Pzena fully exited D.R. Horton in Q3 2022, selling an estimated $264K.
- Richard Pzena's ten largest holdings make up 35% of its $20.1B portfolio in Q3 2022.
- Richard Pzena opened 11 new positions and closed 4 in Q3 2022.
- Richard Pzena's portfolio value fell 9.8% quarter-over-quarter to $20.1B.
Based on Pzena Investment Management's 13F filing for Q3 2022, filed 4 Nov 2022.