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 | |
|---|---|---|---|---|---|---|
126
KB Financial Group
KB
$41.4B
| $3.44M | 0.01% |
41,601
-8,750
| -17% | -$592K |
|
127
CEMIG Preferred Shares
CIG
$5.49B
| $3.11M | 0.01% |
1,588,094
+4,700
| +0.3% | +$8.6K |
|
128
Itaú Unibanco
ITUB
$82.4B
| $2.78M | 0.01% |
421,162
| – | – |
|
129
Vale
VALE
$62.1B
| $2.78M | 0.01% |
285,881
| – | – |
|
130
Dana Inc
DAN
$3.41B
| $2.7M | 0.01% |
157,419
-1,346,107
| -90% | -$20.1M |
|
131
Petrobras Class A
PBR.A
$111B
| $2.66M | 0.01% |
230,441
+37,679
| +20% | +$420K |
|
132
ING
ING
$99.5B
| $1.23M | ﹤0.01% |
56,268
+5,791
| +11% | +$117K |
|
133
Barclays
BCS
$90.2B
| $1.2M | ﹤0.01% |
64,604
+5,308
| +9% | +$87.8K |
|
134
ArcelorMittal
MT
$54.4B
| $1.18M | ﹤0.01% |
37,354
+3,544
| +10% | +$105K |
|
135
HSBC
HSBC
$357B
| $1.15M | ﹤0.01% |
18,851
+1,074
| +6% | +$61.1K |
|
136
Philips
PHG
$26.8B
| $503K | ﹤0.01% |
21,757
+4,773
| +28% | +$107K |
|
137
Sumitomo Mitsui Financial
SMFG
$159B
| $363K | ﹤0.01% |
24,052
+1,918
| +9% | +$27.6K |
|
138
NatWest
NWG
$74B
| $343K | ﹤0.01% |
24,210
-19,888
| -45% | -$263K |
|
139
Equinor
EQNR
$102B
| $337K | ﹤0.01% |
13,422
+4,122
| +44% | +$99.7K |
|
140
ICICI Bank
IBN
$107B
| $336K | ﹤0.01% |
9,977
-9,564
| -49% | -$316K |
|
141
Walt Disney
DIS
$186B
| $315K | ﹤0.01% |
2,544
| – | – |
|
142
GSK
GSK
$105B
| $288K | ﹤0.01% |
+7,510
| New | +$287K |
|
143
Cal-Maine
CALM
$3.87B
| $281K | ﹤0.01% |
+2,823
| New | +$270K |
|
144
Intel
INTC
$476B
| $276K | ﹤0.01% |
12,326
| – | – |
|
145
Sanofi
SNY
$110B
| $270K | ﹤0.01% |
5,580
+195
| +4% | +$9.96K |
|
146
Merck
MRK
$376B
| $263K | ﹤0.01% |
+3,324
| New | +$264K |
|
147
Ulta Beauty
ULTA
$22.4B
| $246K | ﹤0.01% |
+525
| New | +$217K |
|
148
Cirrus Logic
CRUS
$5.78B
| $243K | ﹤0.01% |
2,327
| – | – |
|
149
Adobe
ADBE
$109B
| $226K | ﹤0.01% |
+583
| New | +$225K |
|
150
Hartford Financial Services
HIG
$36.9B
| $220K | ﹤0.01% |
+1,735
| New | +$216K |
|
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.