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 |
CVS Health
CVS
|
+$363M |
| 2 |
Humana
HUM
|
+$296M |
| 3 |
Global Payments
GPN
|
+$182M |
| 4 |
Skyworks Solutions
SWKS
|
+$140M |
| 5 |
Dollar General
DG
|
+$120M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equitable Holdings
EQH
|
+$381M |
| 2 |
Edison International
EIX
|
+$325M |
| 3 |
Goldman Sachs
GS
|
+$150M |
| 4 |
Capital One
COF
|
+$134M |
| 5 |
Bank of America
BAC
|
+$126M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.57% |
| 2 | Healthcare | 17.81% |
| 3 | Technology | 16.52% |
| 4 | Consumer Discretionary | 12.59% |
| 5 | Consumer Staples | 7.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
JELD-WEN Holding
JELD
$200M
| $91.4M | 0.31% |
11,165,246
+1,583,238
| +17% | +$19.1M |
|
|
WBS
52
DELISTED
Webster Financial
WBS
| $88.4M | 0.3% |
1,600,928
-125,611
| -7% | -$6.9M |
|
53
Huntsman Corp
HUN
$1.75B
| $84.7M | 0.29% |
4,695,678
+3,578,100
| +320% | +$74.5M |
|
54
Diamondrock Hospitality Co
DRH
$2.62B
| $77.7M | 0.26% |
8,600,791
-552,227
| -6% | -$5.04M |
|
|
55
Goldman Sachs
GS
$303B
| $76.4M | 0.26% |
133,409
-268,930
| -67% | -$150M |
|
|
MRC
56
DELISTED
MRC Global
MRC
| $74.5M | 0.25% |
5,825,650
+54,859
| +1% | +$718K |
|
57
Robert Half
RHI
$4.58B
| $71.9M | 0.24% |
1,020,340
-7,343
| -0.7% | -$523K |
|
58
Elevance Health
ELV
$86.9B
| $71.6M | 0.24% |
193,997
+1,629
| +0.8% | +$682K |
|
59
General Dynamics
GD
$104B
| $71.3M | 0.24% |
270,775
+268
| +0.1% | +$77.2K |
|
60
Universal Health Services
UHS
$10.4B
| $70.7M | 0.24% |
394,274
-11,675
| -3% | -$2.38M |
|
61
Henry Schein
HSIC
$9.86B
| $68M | 0.23% |
983,313
-3,154
| -0.3% | -$227K |
|
62
Korn Ferry
KFY
$4.37B
| $67.6M | 0.23% |
1,001,715
-20,497
| -2% | -$1.49M |
|
63
ExxonMobil
XOM
$679B
| $64.2M | 0.22% |
596,389
+1,673
| +0.3% | +$196K |
|
|
SCS
64
DELISTED
Steelcase
SCS
| $63.5M | 0.22% |
5,373,342
+133,893
| +3% | +$1.72M |
|
65
Old National Bancorp
ONB
$9.87B
| $63.3M | 0.22% |
2,915,148
-68,580
| -2% | -$1.43M |
|
66
Wabtec
WAB
$50.3B
| $63.1M | 0.21% |
332,745
+447
| +0.1% | +$86.5K |
|
67
Adient
ADNT
$1.54B
| $62.5M | 0.21% |
3,629,452
+803,961
| +28% | +$16.1M |
|
68
Resideo Technologies
REZI
$3.08B
| $61.6M | 0.21% |
2,672,191
-350,180
| -12% | -$8.21M |
|
69
Malibu Boats
MBUU
$579M
| $57.3M | 0.19% |
1,523,353
-31,978
| -2% | -$1.33M |
|
70
Varex Imaging
VREX
$780M
| $55.6M | 0.19% |
3,813,905
-76,974
| -2% | -$1.08M |
|
71
Orion
OEC
$346M
| $52.3M | 0.18% |
3,312,290
-335,695
| -9% | -$5.67M |
|
72
TriMas Corp
TRS
$1.41B
| $52.1M | 0.18% |
2,120,612
-21,935
| -1% | -$575K |
|
73
CBRE Group
CBRE
$44B
| $51.9M | 0.18% |
395,439
-32
| -0% | -$4.19K |
|
74
Universal Corp
UVV
$1.12B
| $50.2M | 0.17% |
915,380
-13,490
| -1% | -$723K |
|
75
Genpact
G
$6.24B
| $50M | 0.17% |
1,163,859
-11
| -0% | -$464 |
|
Similar funds
Richard Pzena's Q4 2024 Portfolio in Review
As of Q4 2024, Richard Pzena held 164 positions worth $29.4B, down 5.3% from $31B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Richard Pzena withdrew a net $1.01B in Q4 2024, closing 12 positions and reducing 82 holdings. Its most notable exit was Gildan, an estimated $30M position sold in full.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Richard Pzena opened a new position in Envista worth $17M.
- Richard Pzena's largest Q4 2024 buy was Envista: 880,177 shares worth $17M.
- Richard Pzena added most to CVS Health in Q4 2024, an estimated $363M increase.
- Richard Pzena's biggest Q4 2024 reduction was Equitable Holdings, cutting an estimated $381M.
- Richard Pzena fully exited Gildan in Q4 2024, selling an estimated $30M.
- Richard Pzena's ten largest holdings make up 36% of its $29.4B portfolio in Q4 2024.
- Richard Pzena opened 7 new positions and closed 12 in Q4 2024.
- Richard Pzena's portfolio value fell 5.3% quarter-over-quarter to $29.4B.
Based on Pzena Investment Management's 13F filing for Q4 2024, filed 7 Feb 2025.