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 |
Corebridge Financial
CRBG
|
+$332M |
| 2 |
Skyworks Solutions
SWKS
|
+$297M |
| 3 |
Global Payments
GPN
|
+$215M |
| 4 |
WNS
WNS Holdings
WNS
|
+$99.6M |
| 5 |
Baxter International
BAX
|
+$77.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dollar General
DG
|
+$91.5M |
| 2 |
Equitable Holdings
EQH
|
+$85.4M |
| 3 |
JELD-WEN Holding
JELD
|
+$61.6M |
| 4 |
CVS Health
CVS
|
+$61.3M |
| 5 |
Nokia
NOK
|
+$60.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.69% |
| 2 | Healthcare | 19.45% |
| 3 | Technology | 17.94% |
| 4 | Consumer Discretionary | 12.3% |
| 5 | Consumer Staples | 8.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Malibu Boats
MBUU
$579M
| $52.4M | 0.17% |
1,670,977
+136,138
| +9% | +$4.1M |
|
77
Arcos Dorados Holdings
ARCO
$1.68B
| $51.5M | 0.17% |
+6,533,482
| New | +$49.4M |
|
78
Envista
NVST
$4.37B
| $48.1M | 0.16% |
2,459,082
+164,825
| +7% | +$2.87M |
|
79
Orion
OEC
$346M
| $48M | 0.16% |
4,577,197
+1,248,295
| +37% | +$14.1M |
|
80
Shinhan Financial Group
SHG
$35B
| $46.4M | 0.15% |
1,027,646
-51,050
| -5% | -$1.94M |
|
81
Bread Financial
BFH
$4.07B
| $45.7M | 0.15% |
800,143
+71,939
| +10% | +$3.63M |
|
82
ABM Industries
ABM
$2.74B
| $45.5M | 0.15% |
963,943
+114,485
| +13% | +$5.53M |
|
83
MasterBrand
MBC
$1.85B
| $45.4M | 0.15% |
4,154,751
+1,295,267
| +45% | +$14.3M |
|
84
Associated Banc-Corp
ASB
$5.82B
| $45.4M | 0.15% |
1,859,542
+71,676
| +4% | +$1.61M |
|
|
SHYF
85
DELISTED
The Shyft Group
SHYF
| $44.9M | 0.15% |
3,579,364
+494,933
| +16% | +$4.85M |
|
86
HDFC Bank
HDB
$121B
| $44.7M | 0.15% |
1,166,956
+141,194
| +14% | +$5.12M |
|
87
Regions Financial
RF
$25.9B
| $44.7M | 0.15% |
1,899,232
| – | – |
|
88
WSFS Financial
WSFS
$4.08B
| $44.6M | 0.15% |
811,169
+23,360
| +3% | +$1.21M |
|
|
WCC
89
WESCO International
WCC
$17B
| $42.4M | 0.14% |
228,819
| – | – |
|
90
Teleflex
TFX
$5.88B
| $42.1M | 0.14% |
+356,107
| New | +$44.9M |
|
91
CBRE Group
CBRE
$44B
| $41.4M | 0.13% |
295,228
-108,394
| -27% | -$13.7M |
|
92
Scansource
SCSC
$1.1B
| $40.8M | 0.13% |
975,578
+33,510
| +4% | +$1.25M |
|
93
Koppers
KOP
$855M
| $40.1M | 0.13% |
1,248,032
+26,704
| +2% | +$767K |
|
94
MSC Industrial Direct
MSM
$6.69B
| $39.3M | 0.13% |
461,931
| – | – |
|
|
FITB
95
Fifth Third Bancorp
FITB
$49.7B
| $39.1M | 0.13% |
951,468
+617
| +0.1% | +$23.2K |
|
96
Leidos
LDOS
$17.7B
| $38.5M | 0.13% |
244,302
+12,599
| +5% | +$1.86M |
|
97
HCA Healthcare
HCA
$92.9B
| $38.3M | 0.12% |
99,982
-14,169
| -12% | -$5.11M |
|
98
Johnson & Johnson
JNJ
$651B
| $37.6M | 0.12% |
246,313
+10,527
| +4% | +$1.62M |
|
99
Varex Imaging
VREX
$780M
| $36.8M | 0.12% |
4,244,977
+442,628
| +12% | +$3.61M |
|
100
American International
AIG
$39.8B
| $36.7M | 0.12% |
429,369
-58,705
| -12% | -$4.89M |
|
Similar funds
Richard Pzena's Q2 2025 Portfolio in Review
As of Q2 2025, Richard Pzena held 158 positions worth $30.8B, up 7.4% from $28.6B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Richard Pzena deployed $1.53B of net new capital in Q2 2025, opening 12 new positions and adding to 92 existing holdings. Its largest new stake was WNS Holdings: 1,662,463 shares worth $105M.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 23% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Dollar General, an estimated $91.5M trimmed.
- Richard Pzena's largest Q2 2025 buy was WNS Holdings: 1,662,463 shares worth $105M.
- Richard Pzena added most to Corebridge Financial in Q2 2025, an estimated $332M increase.
- Richard Pzena's biggest Q2 2025 reduction was Dollar General, cutting an estimated $91.5M.
- Richard Pzena fully exited JELD-WEN Holding in Q2 2025, selling an estimated $61.6M.
- Richard Pzena's ten largest holdings make up 39% of its $30.8B portfolio in Q2 2025.
- Richard Pzena opened 12 new positions and closed 6 in Q2 2025.
- Richard Pzena's portfolio value rose 7.4% quarter-over-quarter to $30.8B.
Based on Pzena Investment Management's 13F filing for Q2 2025, filed 25 Jul 2025.