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 |
Accenture
ACN
|
+$475M |
| 2 |
Dollar General
DG
|
+$378M |
| 3 |
Cognizant
CTSH
|
+$330M |
| 4 |
Workday
WDAY
|
+$250M |
| 5 |
LKQ Corp
LKQ
|
+$248M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nokia
NOK
|
+$752M |
| 2 |
Citigroup
C
|
+$342M |
| 3 |
Humana
HUM
|
+$304M |
| 4 |
Dow Inc
DOW
|
+$234M |
| 5 |
Avnet
AVT
|
+$210M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.64% |
| 2 | Healthcare | 20.26% |
| 3 | Technology | 17.99% |
| 4 | Consumer Discretionary | 15.06% |
| 5 | Consumer Staples | 8.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Columbia Banking Systems
COLB
$8.72B
| $68.2M | 0.2% |
2,129,322
+96,103
| +5% | +$2.85M |
|
77
WSFS Financial
WSFS
$4.08B
| $68.2M | 0.2% |
888,496
+9,908
| +1% | +$710K |
|
78
Marcus & Millichap
MMI
$1.22B
| $66.7M | 0.2% |
2,141,001
+128,238
| +6% | +$3.68M |
|
|
79
Nokia
NOK
$57B
| $66.5M | 0.2% |
5,010,906
-58,414,612
| -92% | -$752M |
|
80
Oshkosh
OSK
$9.7B
| $63.8M | 0.19% |
415,766
-23,090
| -5% | -$3.25M |
|
81
MillerKnoll
MLKN
$1.57B
| $62M | 0.18% |
3,032,700
+1,036,963
| +52% | +$16.6M |
|
82
Associated Banc-Corp
ASB
$5.82B
| $61.2M | 0.18% |
1,990,243
+67,261
| +3% | +$1.9M |
|
83
Alphabet (Google) Class A
GOOGL
$4.22T
| $61.2M | 0.18% |
171,157
| – | – |
|
84
Scansource
SCSC
$1.1B
| $57.8M | 0.17% |
1,109,743
+196,504
| +22% | +$8.61M |
|
85
Korn Ferry
KFY
$4.37B
| $57.8M | 0.17% |
867,680
+70,242
| +9% | +$4.75M |
|
86
Regions Financial
RF
$25.9B
| $55.6M | 0.16% |
1,839,825
| – | – |
|
87
Huntsman Corp
HUN
$1.75B
| $54.8M | 0.16% |
5,161,672
-654,687
| -11% | -$9.02M |
|
|
AEBI
88
Aebi Schmidt Holding AG
AEBI
$956M
| $54.2M | 0.16% |
4,319,337
+208,487
| +5% | +$2.46M |
|
89
Winnebago Industries
WGO
$898M
| $53.4M | 0.16% |
1,709,531
+716,237
| +72% | +$21.8M |
|
90
Resideo Technologies
REZI
$3.08B
| $52.5M | 0.15% |
1,686,765
+309,735
| +22% | +$10.7M |
|
91
Malibu Boats
MBUU
$579M
| $49.2M | 0.14% |
1,794,261
+96,804
| +6% | +$2.58M |
|
92
Target
TGT
$75.1B
| $48.8M | 0.14% |
373,503
+128
| +0% | +$16.3K |
|
93
Koppers
KOP
$855M
| $47.7M | 0.14% |
1,061,285
-148,091
| -12% | -$6.06M |
|
94
Varex Imaging
VREX
$780M
| $45.3M | 0.13% |
4,344,381
+352,101
| +9% | +$3.8M |
|
95
Healthcare Realty
HR
$6.65B
| $44.9M | 0.13% |
2,225,430
| – | – |
|
96
MSC Industrial Direct
MSM
$6.69B
| $44.4M | 0.13% |
373,664
-70,946
| -16% | -$7.54M |
|
97
Shinhan Financial Group
SHG
$35B
| $42.3M | 0.12% |
669,474
-21,177
| -3% | -$1.39M |
|
98
HDFC Bank
HDB
$121B
| $41.7M | 0.12% |
1,613,476
+93,975
| +6% | +$2.35M |
|
99
CBRE Group
CBRE
$44B
| $41.2M | 0.12% |
305,781
+3,910
| +1% | +$539K |
|
100
Haverty Furniture Companies
HVT
$427M
| $39.9M | 0.12% |
1,563,451
+103,303
| +7% | +$2.34M |
|
Similar funds
Richard Pzena's Q2 2026 Portfolio in Review
As of Q2 2026, Richard Pzena held 170 positions worth $34.1B, up 11% from $30.8B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Richard Pzena's Q2 2026 filing shows 12 new, 71 increased, 70 reduced and 9 closed positions. Its largest new stake was Workday: 1,971,270 shares worth $241M. The largest sale was Nokia, an estimated $752M.
By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 22% a quarter earlier, followed by Healthcare and Technology.
- Richard Pzena's largest Q2 2026 buy was Workday: 1,971,270 shares worth $241M.
- Richard Pzena added most to Accenture in Q2 2026, an estimated $475M increase.
- Richard Pzena's biggest Q2 2026 reduction was Nokia, cutting an estimated $752M.
- Richard Pzena fully exited Wabtec in Q2 2026, selling an estimated $91.9M.
- Richard Pzena's ten largest holdings make up 38% of its $34.1B portfolio in Q2 2026.
- Richard Pzena opened 12 new positions and closed 9 in Q2 2026.
- Richard Pzena's portfolio value rose 11% quarter-over-quarter to $34.1B.
Based on Pzena Investment Management's 13F filing for Q2 2026, filed 7 Aug 2026.