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 |
Fresenius Medical Care
FMS
|
+$250M |
| 2 |
Johnson & Johnson
JNJ
|
+$151M |
| 3 |
Cognizant
CTSH
|
+$151M |
| 4 |
NRG Energy
NRG
|
+$96.3M |
| 5 |
Pfizer
PFE
|
+$88.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Textron
TXT
|
+$187M |
| 2 |
Capital One
COF
|
+$116M |
| 3 |
CVS Health
CVS
|
+$103M |
| 4 |
American International
AIG
|
+$74.7M |
| 5 |
Morgan Stanley
MS
|
+$64.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 28.55% |
| 2 | Consumer Discretionary | 13.6% |
| 3 | Technology | 13.41% |
| 4 | Industrials | 13.17% |
| 5 | Energy | 11.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NEX
76
DELISTED
NexTier Oilfield Solutions Inc.
NEX
| $60.4M | 0.24% |
13,135,360
+3,492,591
| +36% | +$14M |
|
|
GTS
77
DELISTED
Triple-S Management Corporation
GTS
| $59.1M | 0.23% |
1,671,580
-316,619
| -16% | -$9.03M |
|
78
MasTec
MTZ
$21.4B
| $56.7M | 0.22% |
656,960
-3,875
| -0.6% | -$368K |
|
79
Scansource
SCSC
$1.1B
| $55.7M | 0.22% |
1,599,803
+652
| +0% | +$20K |
|
80
TriMas Corp
TRS
$1.41B
| $55.7M | 0.22% |
1,719,905
+242,130
| +16% | +$7.47M |
|
|
UMPQ
81
DELISTED
Umpqua Holdings Corp
UMPQ
| $54.5M | 0.22% |
2,693,596
-17,593
| -0.6% | -$337K |
|
|
JNPR
82
DELISTED
Juniper Networks
JNPR
| $53.7M | 0.21% |
1,952,720
-925,022
| -32% | -$26M |
|
83
Huntington Bancshares
HBAN
$34.4B
| $52.3M | 0.21% |
3,385,803
+17,680
| +0.5% | +$260K |
|
84
Orion
OEC
$346M
| $52.3M | 0.21% |
2,868,426
+342,358
| +14% | +$6.13M |
|
85
Reinsurance Group of America
RGA
$15.9B
| $51.7M | 0.2% |
464,660
-10,268
| -2% | -$1.17M |
|
86
Super Micro Computer
SMCI
$24.1B
| $51.4M | 0.2% |
14,046,060
-56,350
| -0.4% | -$204K |
|
87
Hope Bancorp
HOPE
$1.78B
| $51M | 0.2% |
3,531,570
+13,755
| +0.4% | +$187K |
|
88
Diamondrock Hospitality Co
DRH
$2.62B
| $49.1M | 0.19% |
5,192,684
+1,435,705
| +38% | +$12.8M |
|
|
ARGO
89
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $48M | 0.19% |
918,723
+11,122
| +1% | +$584K |
|
|
TBI
90
Trueblue
TBI
$323M
| $47.8M | 0.19% |
1,764,551
+15,882
| +0.9% | +$425K |
|
91
Univest Financial
UVSP
$1.15B
| $46.9M | 0.19% |
1,710,469
-5,138
| -0.3% | -$138K |
|
92
Universal Corp
UVV
$1.12B
| $41.7M | 0.16% |
862,152
+11,670
| +1% | +$592K |
|
93
Moog Inc Class A
MOG.A
$12.3B
| $41.3M | 0.16% |
541,594
+12,153
| +2% | +$949K |
|
94
TSMC
TSM
$2.17T
| $38.1M | 0.15% |
341,064
-571
| -0.2% | -$67K |
|
95
ICICI Bank
IBN
$107B
| $37.7M | 0.15% |
1,998,452
-111,871
| -5% | -$2.1M |
|
|
IPG
96
DELISTED
Interpublic Group of Companies
IPG
| $36.6M | 0.15% |
999,274
-115,077
| -10% | -$4.12M |
|
97
WSFS Financial
WSFS
$4.08B
| $35.7M | 0.14% |
695,741
+14,977
| +2% | +$673K |
|
98
Hooker Furnishings Corp
HOFT
$155M
| $35.1M | 0.14% |
1,301,132
-6,791
| -0.5% | -$217K |
|
99
Varex Imaging
VREX
$780M
| $34.6M | 0.14% |
1,225,670
-261,514
| -18% | -$7.25M |
|
100
Motorcar Parts of America
MPAA
$226M
| $34.5M | 0.14% |
1,767,003
+3,389
| +0.2% | +$70.9K |
|
Similar funds
Richard Pzena's Q3 2021 Portfolio in Review
As of Q3 2021, Richard Pzena held 180 positions worth $25.3B, down 1.7% from $25.7B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Richard Pzena's Q3 2021 filing shows 15 new, 62 increased, 64 reduced and 12 closed positions. Its largest new stake was Fresenius Medical Care: 6,407,774 shares worth $224M. The largest sale was Textron, an estimated $187M.
By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 28% a quarter earlier, followed by Consumer Discretionary and Technology.
- Richard Pzena's largest Q3 2021 buy was Fresenius Medical Care: 6,407,774 shares worth $224M.
- Richard Pzena added most to Cognizant in Q3 2021, an estimated $151M increase.
- Richard Pzena's biggest Q3 2021 reduction was Textron, cutting an estimated $187M.
- Richard Pzena fully exited CVS Health in Q3 2021, selling an estimated $103M.
- Richard Pzena's ten largest holdings make up 35% of its $25.3B portfolio in Q3 2021.
- Richard Pzena opened 15 new positions and closed 12 in Q3 2021.
- Richard Pzena's portfolio value fell 1.7% quarter-over-quarter to $25.3B.
Based on Pzena Investment Management's 13F filing for Q3 2021, filed 5 Nov 2021.