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 | |
|---|---|---|---|---|---|---|
76
MasterBrand
MBC
$1.85B
| $54.3M | 0.18% |
4,123,054
-31,697
| -0.8% | -$392K |
|
77
ABM Industries
ABM
$2.74B
| $53.7M | 0.17% |
1,164,842
+200,899
| +21% | +$9.53M |
|
78
Varex Imaging
VREX
$780M
| $52.4M | 0.17% |
4,227,023
-17,954
| -0.4% | -$178K |
|
79
TriMas Corp
TRS
$1.41B
| $50.3M | 0.16% |
1,302,265
-875,496
| -40% | -$31.1M |
|
|
WNS
80
DELISTED
WNS Holdings
WNS
| $50.3M | 0.16% |
659,313
-1,003,150
| -60% | -$75M |
|
81
WSFS Financial
WSFS
$4.08B
| $50.1M | 0.16% |
928,413
+117,244
| +14% | +$6.62M |
|
82
Columbia Banking Systems
COLB
$8.72B
| $49.6M | 0.16% |
1,926,346
+384,649
| +25% | +$9.77M |
|
83
Envista
NVST
$4.37B
| $49.2M | 0.16% |
2,414,866
-44,216
| -2% | -$908K |
|
84
Regions Financial
RF
$25.9B
| $48.5M | 0.16% |
1,839,825
-59,407
| -3% | -$1.54M |
|
85
Huntsman Corp
HUN
$1.75B
| $48.4M | 0.16% |
5,393,866
+83,098
| +2% | +$873K |
|
86
Shinhan Financial Group
SHG
$35B
| $48M | 0.16% |
952,762
-74,884
| -7% | -$3.66M |
|
87
Teleflex
TFX
$5.88B
| $47.4M | 0.15% |
387,483
+31,376
| +9% | +$3.8M |
|
88
Associated Banc-Corp
ASB
$5.82B
| $46.8M | 0.15% |
1,819,595
-39,947
| -2% | -$1.02M |
|
89
CBRE Group
CBRE
$44B
| $46.6M | 0.15% |
295,522
+294
| +0.1% | +$45.5K |
|
90
Leidos
LDOS
$17.7B
| $46.2M | 0.15% |
244,661
+359
| +0.1% | +$62.5K |
|
91
Johnson & Johnson
JNJ
$651B
| $46M | 0.15% |
248,251
+1,938
| +0.8% | +$332K |
|
|
WCC
92
WESCO International
WCC
$17B
| $45.1M | 0.15% |
213,069
-15,750
| -7% | -$3.31M |
|
93
Bread Financial
BFH
$4.07B
| $43.8M | 0.14% |
785,417
-14,726
| -2% | -$909K |
|
94
HCA Healthcare
HCA
$92.9B
| $43.1M | 0.14% |
101,060
+1,078
| +1% | +$418K |
|
|
FITB
95
Fifth Third Bancorp
FITB
$49.7B
| $42.1M | 0.14% |
945,184
-6,284
| -0.7% | -$275K |
|
96
Scansource
SCSC
$1.1B
| $41.6M | 0.13% |
945,599
-29,979
| -3% | -$1.28M |
|
97
MSC Industrial Direct
MSM
$6.69B
| $41M | 0.13% |
444,666
-17,265
| -4% | -$1.54M |
|
98
Genesco
GCO
$390M
| $40.2M | 0.13% |
1,385,618
-47,572
| -3% | -$1.31M |
|
99
Healthcare Realty
HR
$6.65B
| $40.1M | 0.13% |
2,225,789
| – | – |
|
100
Orion
OEC
$346M
| $35.6M | 0.12% |
4,694,825
+117,628
| +3% | +$1.19M |
|
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.