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 |
Baxter International
BAX
|
+$458M |
| 2 |
Universal Health Services
UHS
|
+$219M |
| 3 |
Corebridge Financial
CRBG
|
+$123M |
| 4 |
Accenture
ACN
|
+$88.1M |
| 5 |
PPG Industries
PPG
|
+$81.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charter Communications
CHTR
|
+$678M |
| 2 |
Medtronic
MDT
|
+$269M |
| 3 |
TE Connectivity
TEL
|
+$106M |
| 4 |
Citigroup
C
|
+$98.9M |
| 5 |
Capital One
COF
|
+$80.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.93% |
| 2 | Healthcare | 20.13% |
| 3 | Technology | 17.5% |
| 4 | Consumer Discretionary | 14.08% |
| 5 | Consumer Staples | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Concentrix
CNXC
$1.55B
| $102M | 0.33% |
2,212,592
-64,188
| -3% | -$3.42M |
|
52
LKQ Corp
LKQ
$6.52B
| $102M | 0.33% |
3,339,732
+554,529
| +20% | +$18.2M |
|
53
CNO Financial Group
CNO
$4.95B
| $101M | 0.32% |
2,542,121
-10,177
| -0.4% | -$389K |
|
54
General Dynamics
GD
$104B
| $100M | 0.32% |
293,443
+1,907
| +0.7% | +$601K |
|
55
Goldman Sachs
GS
$303B
| $98.4M | 0.32% |
123,552
-2,763
| -2% | -$2.05M |
|
|
WBS
56
DELISTED
Webster Financial
WBS
| $98.2M | 0.32% |
1,652,636
+39,878
| +2% | +$2.38M |
|
57
Olin
OLN
$2.1B
| $95.9M | 0.31% |
3,836,663
+7,642
| +0.2% | +$170K |
|
58
Resideo Technologies
REZI
$3.08B
| $95.2M | 0.31% |
2,204,467
-482,661
| -18% | -$15.1M |
|
59
Adient
ADNT
$1.54B
| $88.8M | 0.29% |
3,689,680
-484,813
| -12% | -$11.3M |
|
60
Genuine Parts
GPC
$18.5B
| $83.9M | 0.27% |
605,063
+9,012
| +2% | +$1.21M |
|
|
61
Accenture
ACN
$113B
| $83.3M | 0.27% |
+337,930
| New | +$88.1M |
|
62
Arcos Dorados Holdings
ARCO
$1.68B
| $77.1M | 0.25% |
11,427,294
+4,893,812
| +75% | +$34.7M |
|
|
AMWD
63
DELISTED
American Woodmark
AMWD
| $77M | 0.25% |
1,152,739
+4,408
| +0.4% | +$270K |
|
64
ExxonMobil
XOM
$679B
| $74.6M | 0.24% |
661,764
+7,678
| +1% | +$854K |
|
|
MRC
65
DELISTED
MRC Global
MRC
| $74.2M | 0.24% |
5,145,005
-78,477
| -2% | -$1.12M |
|
66
Wabtec
WAB
$50.3B
| $73.7M | 0.24% |
367,582
+6,886
| +2% | +$1.36M |
|
67
Elevance Health
ELV
$86.9B
| $70M | 0.23% |
216,709
-567
| -0.3% | -$176K |
|
68
Douglas Dynamics
PLOW
$973M
| $69.4M | 0.22% |
2,218,823
-62,764
| -3% | -$1.96M |
|
69
Diamondrock Hospitality Co
DRH
$2.62B
| $68.3M | 0.22% |
8,584,035
-201,243
| -2% | -$1.63M |
|
70
Oshkosh
OSK
$9.7B
| $66.7M | 0.22% |
514,513
-11,374
| -2% | -$1.51M |
|
71
Henry Schein
HSIC
$9.86B
| $61.5M | 0.2% |
925,992
+5,761
| +0.6% | +$399K |
|
72
Old National Bancorp
ONB
$9.87B
| $57.8M | 0.19% |
2,633,476
-62,303
| -2% | -$1.38M |
|
|
AEBI
73
Aebi Schmidt Holding AG
AEBI
$956M
| $57.1M | 0.18% |
+4,578,822
| New | +$57.6M |
|
74
Korn Ferry
KFY
$4.37B
| $56.8M | 0.18% |
811,374
-6,955
| -0.8% | -$507K |
|
75
Malibu Boats
MBUU
$579M
| $54.5M | 0.18% |
1,680,244
+9,267
| +0.6% | +$317K |
|
Similar funds
Richard Pzena's Q3 2025 Portfolio in Review
As of Q3 2025, Richard Pzena held 160 positions worth $30.9B, up 0.62% from $30.8B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Richard Pzena's Q3 2025 filing shows 8 new, 66 increased, 71 reduced and 6 closed positions. Its largest new stake was Accenture: 337,930 shares worth $83.3M. The largest sale was Charter Communications, an estimated $678M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 25% a quarter earlier, followed by Healthcare and Technology.
- Richard Pzena's largest Q3 2025 buy was Accenture: 337,930 shares worth $83.3M.
- Richard Pzena added most to Baxter International in Q3 2025, an estimated $458M increase.
- Richard Pzena's biggest Q3 2025 reduction was Charter Communications, cutting an estimated $678M.
- Richard Pzena fully exited The Shyft Group in Q3 2025, selling an estimated $44.9M.
- Richard Pzena's ten largest holdings make up 39% of its $30.9B portfolio in Q3 2025.
- Richard Pzena opened 8 new positions and closed 6 in Q3 2025.
- Richard Pzena's portfolio value rose 0.62% quarter-over-quarter to $30.9B.
Based on Pzena Investment Management's 13F filing for Q3 2025, filed 7 Nov 2025.