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 | |
|---|---|---|---|---|---|---|
101
General Dynamics
GD
$104B
| $38.5M | 0.11% |
108,574
+1,107
| +1% | +$379K |
|
102
HCA Healthcare
HCA
$92.9B
| $37.7M | 0.11% |
96,598
+2,337
| +2% | +$988K |
|
103
DNOW Inc
DNOW
$2.83B
| $37.5M | 0.11% |
2,893,482
-201,833
| -7% | -$2.62M |
|
104
Genesco
GCO
$390M
| $37.1M | 0.11% |
1,098,722
+18,140
| +2% | +$636K |
|
105
KeyCorp
KEY
$23.3B
| $36.8M | 0.11% |
1,597,019
-61,886
| -4% | -$1.35M |
|
106
Univest Financial
UVSP
$1.15B
| $36.5M | 0.11% |
834,628
-7,797
| -0.9% | -$305K |
|
107
Bread Financial
BFH
$4.07B
| $35.5M | 0.1% |
327,448
-286,225
| -47% | -$25.7M |
|
108
Diamondrock Hospitality Co
DRH
$2.62B
| $34.5M | 0.1% |
2,829,560
-5,019
| -0.2% | -$54.6K |
|
109
American International
AIG
$39.8B
| $34M | 0.1% |
456,619
+6,870
| +2% | +$522K |
|
110
Solventum
SOLV
$15.2B
| $32.2M | 0.09% |
417,770
-22,148
| -5% | -$1.62M |
|
111
Orion
OEC
$346M
| $31.6M | 0.09% |
4,771,969
+172,062
| +4% | +$1.24M |
|
112
Envista
NVST
$4.37B
| $30.5M | 0.09% |
1,157,273
-446,923
| -28% | -$11.3M |
|
113
Myers Industries
MYE
$1.26B
| $27.6M | 0.08% |
781,014
-503,571
| -39% | -$11.9M |
|
114
Hooker Furnishings Corp
HOFT
$155M
| $27.5M | 0.08% |
1,542,623
+163,898
| +12% | +$2.24M |
|
115
Arrow Electronics
ARW
$10.7B
| $26.7M | 0.08% |
125,168
-85,880
| -41% | -$17.1M |
|
116
Usana Health Sciences
USNA
$250M
| $25.7M | 0.08% |
1,205,587
+96,654
| +9% | +$1.82M |
|
117
Leidos
LDOS
$17.7B
| $25.5M | 0.07% |
247,849
-88
| -0% | -$11.7K |
|
|
WCC
118
WESCO International
WCC
$17B
| $24.7M | 0.07% |
71,494
-42,087
| -37% | -$14.3M |
|
|
TBI
119
Trueblue
TBI
$323M
| $21.5M | 0.06% |
3,090,808
+219,178
| +8% | +$1.22M |
|
120
Helen of Troy
HELE
$677M
| $19.7M | 0.06% |
676,577
-84,596
| -11% | -$2M |
|
121
Universal Corp
UVV
$1.12B
| $19M | 0.06% |
363,477
+33,989
| +10% | +$1.81M |
|
122
ManpowerGroup
MAN
$2.86B
| $11.9M | 0.03% |
351,121
| – | – |
|
123
Ambev
ABEV
$44.4B
| $11.7M | 0.03% |
3,739,889
-977,439
| -21% | -$3.06M |
|
124
Baidu
BIDU
$31.6B
| $4.74M | 0.01% |
41,474
-7,293
| -15% | -$903K |
|
125
Knight Transportation
KNX
$11.7B
| $4.63M | 0.01% |
59,406
-1,200,405
| -95% | -$83.2M |
|
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.