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 | |
|---|---|---|---|---|---|---|
101
Koppers
KOP
$855M
| $35M | 0.11% |
1,249,272
+1,240
| +0.1% | +$38.2K |
|
102
American International
AIG
$39.8B
| $34.6M | 0.11% |
441,103
+11,734
| +3% | +$938K |
|
103
Haverty Furniture Companies
HVT
$427M
| $34.2M | 0.11% |
1,558,458
-2,099
| -0.1% | -$46.6K |
|
104
Target
TGT
$75.1B
| $33.6M | 0.11% |
374,225
+7,405
| +2% | +$729K |
|
105
Usana Health Sciences
USNA
$250M
| $33.4M | 0.11% |
1,212,588
+14,328
| +1% | +$441K |
|
106
Solventum
SOLV
$15.2B
| $31.7M | 0.1% |
+434,264
| New | +$31.8M |
|
107
KeyCorp
KEY
$23.3B
| $30.9M | 0.1% |
1,652,812
+4,087
| +0.2% | +$75.7K |
|
108
Genpact
G
$6.24B
| $30.7M | 0.1% |
732,142
| – | – |
|
109
HDFC Bank
HDB
$121B
| $29.3M | 0.09% |
859,167
-307,789
| -26% | -$11.3M |
|
|
CMA
110
DELISTED
Comerica
CMA
| $28.9M | 0.09% |
421,314
-1,259
| -0.3% | -$84.8K |
|
111
Univest Financial
UVSP
$1.15B
| $26.7M | 0.09% |
890,902
+2,693
| +0.3% | +$82.7K |
|
112
Arrow Electronics
ARW
$10.7B
| $25.5M | 0.08% |
211,097
-10,142
| -5% | -$1.28M |
|
113
Helen of Troy
HELE
$677M
| $25.5M | 0.08% |
1,010,756
+25,425
| +3% | +$616K |
|
114
Sensata Technologies
ST
$6.23B
| $22.3M | 0.07% |
+730,498
| New | +$23.1M |
|
115
FMC
FMC
$1.38B
| $19.2M | 0.06% |
571,900
+10,482
| +2% | +$409K |
|
116
Universal Corp
UVV
$1.12B
| $18.9M | 0.06% |
337,504
-159,475
| -32% | -$8.82M |
|
117
Marcus & Millichap
MMI
$1.22B
| $18.5M | 0.06% |
631,330
+16,920
| +3% | +$532K |
|
|
TBI
118
Trueblue
TBI
$323M
| $17.7M | 0.06% |
2,891,834
-27,418
| -0.9% | -$173K |
|
119
Hooker Furnishings Corp
HOFT
$155M
| $14.4M | 0.05% |
1,416,002
+57,276
| +4% | +$598K |
|
120
Fidelity National Financial
FNF
$12.7B
| $13.5M | 0.04% |
223,286
-50
| -0% | -$2.9K |
|
121
ManpowerGroup
MAN
$2.86B
| $13.3M | 0.04% |
351,121
| – | – |
|
122
TSMC
TSM
$2.17T
| $11.9M | 0.04% |
42,485
-66
| -0.2% | -$16.1K |
|
123
Baidu
BIDU
$31.6B
| $11M | 0.04% |
83,828
-192,607
| -70% | -$19.1M |
|
124
Ambev
ABEV
$44.4B
| $10.1M | 0.03% |
4,514,704
-5,800,301
| -56% | -$13.3M |
|
125
Alibaba
BABA
$286B
| $7.39M | 0.02% |
41,370
-11,968
| -22% | -$1.57M |
|
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.