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 |
Charter Communications
CHTR
|
+$450M |
| 2 |
CVS Health
CVS
|
+$361M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$341M |
| 4 |
Magna International
MGA
|
+$285M |
| 5 |
Dollar General
DG
|
+$275M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wabtec
WAB
|
+$366M |
| 2 |
GE Aerospace
GE
|
+$186M |
| 3 |
Gildan
GIL
|
+$165M |
| 4 |
PVH
PVH
|
+$129M |
| 5 |
Acuity Brands
AYI
|
+$97.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.63% |
| 2 | Technology | 15.19% |
| 3 | Healthcare | 14.25% |
| 4 | Consumer Discretionary | 14.18% |
| 5 | Consumer Staples | 5.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
126
Acuity Brands
AYI
$10.3B
| $5.8M | 0.02% |
21,567
-403,974
| -95% | -$97.8M |
|
127
Alibaba
BABA
$286B
| $4.73M | 0.02% |
65,393
+2,467
| +4% | +$181K |
|
|
SHYF
128
DELISTED
The Shyft Group
SHYF
| $4.07M | 0.01% |
+327,733
| New | +$3.65M |
|
129
CEMIG Preferred Shares
CIG
$5.49B
| $3.01M | 0.01% |
1,583,395
+12,740
| +0.8% | +$22.8K |
|
130
Vale
VALE
$62.1B
| $2.8M | 0.01% |
229,345
+96,850
| +73% | +$1.31M |
|
131
Sasol
SSL
$8.01B
| $2.75M | 0.01% |
352,561
+122,108
| +53% | +$1M |
|
132
Petrobras Class A
PBR.A
$111B
| $2.51M | 0.01% |
168,134
+140
| +0.1% | +$2.21K |
|
133
KB Financial Group
KB
$41.4B
| $2.03M | 0.01% |
38,941
+7,040
| +22% | +$332K |
|
134
Itaú Unibanco
ITUB
$82.4B
| $1.6M | 0.01% |
261,342
+1,066
| +0.4% | +$6.42K |
|
135
Barclays
BCS
$90.2B
| $957K | ﹤0.01% |
101,228
-558
| -0.5% | -$4.57K |
|
136
ING
ING
$99.5B
| $877K | ﹤0.01% |
53,170
-248
| -0.5% | -$3.54K |
|
137
HSBC
HSBC
$357B
| $671K | ﹤0.01% |
17,045
-90
| -0.5% | -$3.51K |
|
138
ArcelorMittal
MT
$54.4B
| $665K | ﹤0.01% |
24,122
-40
| -0.2% | -$1.08K |
|
139
Ituran Location and Control
ITRN
$1.01B
| $613K | ﹤0.01% |
21,907
| – | – |
|
|
140
GE Aerospace
GE
$361B
| $549K | ﹤0.01% |
3,918
-1,582,474
| -100% | -$186M |
|
141
NatWest
NWG
$74B
| $544K | ﹤0.01% |
79,987
+9,555
| +14% | +$56.7K |
|
142
Arch Capital
ACGL
$33.9B
| $526K | ﹤0.01% |
5,691
-280
| -5% | -$23.7K |
|
143
United Therapeutics
UTHR
$22B
| $482K | ﹤0.01% |
2,097
+75
| +4% | +$16.9K |
|
144
Intel
INTC
$476B
| $473K | ﹤0.01% |
+10,705
| New | +$477K |
|
145
Exelixis
EXEL
$13.4B
| $468K | ﹤0.01% |
19,734
+755
| +4% | +$16.8K |
|
146
T-Mobile US
TMUS
$196B
| $467K | ﹤0.01% |
2,859
-293
| -9% | -$47.7K |
|
147
Philips
PHG
$26.8B
| $465K | ﹤0.01% |
25,985
-13,351
| -34% | -$256K |
|
148
Gilead Sciences
GILD
$181B
| $456K | ﹤0.01% |
6,230
+359
| +6% | +$27.6K |
|
149
Qorvo
QRVO
$8.43B
| $396K | ﹤0.01% |
3,446
+1,174
| +52% | +$129K |
|
|
DOCU
150
DocuSign
DOCU
$11.8B
| $332K | ﹤0.01% |
+5,573
| New | +$315K |
|
Similar funds
Richard Pzena's Q1 2024 Portfolio in Review
As of Q1 2024, Richard Pzena held 172 positions worth $29.1B, up 9.5% from $26.6B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Richard Pzena's Q1 2024 filing shows 8 new, 51 increased, 94 reduced and 13 closed positions. Its largest new stake was Dollar General: 1,933,475 shares worth $302M. The largest sale was Wabtec, an estimated $366M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, down from 30% a quarter earlier, followed by Technology and Healthcare.
- Richard Pzena's largest Q1 2024 buy was Dollar General: 1,933,475 shares worth $302M.
- Richard Pzena added most to Charter Communications in Q1 2024, an estimated $450M increase.
- Richard Pzena's biggest Q1 2024 reduction was Wabtec, cutting an estimated $366M.
- Richard Pzena fully exited Juniper Networks in Q1 2024, selling an estimated $36.3M.
- Richard Pzena's ten largest holdings make up 37% of its $29.1B portfolio in Q1 2024.
- Richard Pzena opened 8 new positions and closed 13 in Q1 2024.
- Richard Pzena's portfolio value rose 9.5% quarter-over-quarter to $29.1B.
Based on Pzena Investment Management's 13F filing for Q1 2024, filed 3 May 2024.