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 |
Humana
HUM
|
+$287M |
| 2 |
Accenture
ACN
|
+$256M |
| 3 |
Skyworks Solutions
SWKS
|
+$203M |
| 4 |
Cognizant
CTSH
|
+$188M |
| 5 |
Globant
GLOB
|
+$164M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dollar General
DG
|
+$539M |
| 2 |
Citigroup
C
|
+$278M |
| 3 |
Dow Inc
DOW
|
+$275M |
| 4 |
Magna International
MGA
|
+$216M |
| 5 |
Nokia
NOK
|
+$209M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.04% |
| 2 | Technology | 19.37% |
| 3 | Healthcare | 18.7% |
| 4 | Consumer Discretionary | 14.01% |
| 5 | Consumer Staples | 8.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Walt Disney
DIS
$186B
| $8.7M | 0.03% |
90,219
| – | – |
|
127
TSMC
TSM
$2.17T
| $6.42M | 0.02% |
18,986
-7,356
| -28% | -$2.53M |
|
128
Baidu
BIDU
$31.6B
| $5.43M | 0.02% |
48,767
-7,740
| -14% | -$1.05M |
|
129
Petrobras Class A
PBR.A
$111B
| $3.69M | 0.01% |
196,970
+72,071
| +58% | +$1.07M |
|
130
Alibaba
BABA
$286B
| $3.57M | 0.01% |
28,435
+2,998
| +12% | +$451K |
|
131
Vale
VALE
$62.1B
| $3M | 0.01% |
188,719
+15,987
| +9% | +$250K |
|
132
CEMIG Preferred Shares
CIG
$5.49B
| $2.58M | 0.01% |
1,080,784
| – | – |
|
133
ING
ING
$99.5B
| $2.1M | 0.01% |
80,698
+11,736
| +17% | +$330K |
|
134
HSBC
HSBC
$357B
| $1.98M | 0.01% |
23,950
+1,044
| +5% | +$88.4K |
|
135
KB Financial Group
KB
$41.4B
| $1.9M | 0.01% |
19,023
| – | – |
|
136
Itaú Unibanco
ITUB
$82.4B
| $1.89M | 0.01% |
225,157
| – | – |
|
137
TotalEnergies
TTE
$199B
| $1.79M | 0.01% |
22,133
+1,440
| +7% | +$110K |
|
138
Equinor
EQNR
$102B
| $1.71M | 0.01% |
40,516
+10,961
| +37% | +$330K |
|
139
Philips
PHG
$26.8B
| $1.14M | ﹤0.01% |
43,189
+4,847
| +13% | +$137K |
|
140
GSK
GSK
$105B
| $1.04M | ﹤0.01% |
18,823
+5,379
| +40% | +$291K |
|
141
ArcelorMittal
MT
$54.4B
| $957K | ﹤0.01% |
18,409
-16,066
| -47% | -$891K |
|
142
Sanofi
SNY
$110B
| $920K | ﹤0.01% |
19,088
+7,339
| +62% | +$342K |
|
143
Sumitomo Mitsui Financial
SMFG
$159B
| $643K | ﹤0.01% |
32,548
+4,075
| +14% | +$85.6K |
|
144
Takeda Pharmaceutical
TAK
$58.1B
| $525K | ﹤0.01% |
28,360
+7,733
| +37% | +$136K |
|
145
Barclays
BCS
$90.2B
| $379K | ﹤0.01% |
17,888
-27,057
| -60% | -$660K |
|
146
TriMas Corp
TRS
$1.41B
| $357K | ﹤0.01% |
9,923
-528,448
| -98% | -$19M |
|
147
Cirrus Logic
CRUS
$5.78B
| $306K | ﹤0.01% |
2,114
-108
| -5% | -$14.5K |
|
148
Merck
MRK
$376B
| $302K | ﹤0.01% |
2,511
-813
| -24% | -$93.9K |
|
|
HOLX
149
DELISTED
Hologic
HOLX
| $300K | ﹤0.01% |
3,964
-145
| -4% | -$10.9K |
|
150
Hartford Financial Services
HIG
$36.9B
| $288K | ﹤0.01% |
2,127
| – | – |
|
Similar funds
Richard Pzena's Q1 2026 Portfolio in Review
As of Q1 2026, Richard Pzena held 166 positions worth $30.8B, down 7.8% from $33.4B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Richard Pzena withdrew a net $968M in Q1 2026, closing 8 positions and reducing 74 holdings. Its most notable exit was Comerica, an estimated $32.5M position sold in full.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 25% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Richard Pzena opened a new position in Globant worth $137M.
- Richard Pzena's largest Q1 2026 buy was Globant: 2,968,828 shares worth $137M.
- Richard Pzena added most to Humana in Q1 2026, an estimated $287M increase.
- Richard Pzena's biggest Q1 2026 reduction was Dollar General, cutting an estimated $539M.
- Richard Pzena fully exited Comerica in Q1 2026, selling an estimated $32.5M.
- Richard Pzena's ten largest holdings make up 36% of its $30.8B portfolio in Q1 2026.
- Richard Pzena opened 9 new positions and closed 8 in Q1 2026.
- Richard Pzena's portfolio value fell 7.8% quarter-over-quarter to $30.8B.
Based on Pzena Investment Management's 13F filing for Q1 2026, filed 24 Apr 2026.