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 | |
|---|---|---|---|---|---|---|
151
NVIDIA
NVDA
$5.2T
| $289K | ﹤0.01% |
+1,445
| New | +$297K |
|
152
Qorvo
QRVO
$8.43B
| $284K | ﹤0.01% |
+3,045
| New | +$281K |
|
153
Microsoft
MSFT
$3.59T
| $282K | ﹤0.01% |
755
-7
| -0.9% | -$2.83K |
|
154
GE Aerospace
GE
$361B
| $275K | ﹤0.01% |
736
| – | – |
|
155
Expedia Group
EXPE
$38.6B
| $271K | ﹤0.01% |
+1,060
| New | +$252K |
|
|
WBS
156
DELISTED
Webster Financial
WBS
| $244K | ﹤0.01% |
3,189
-406,018
| -99% | -$29.5M |
|
157
Salesforce
CRM
$171B
| $235K | ﹤0.01% |
+1,502
| New | +$264K |
|
158
Adobe
ADBE
$109B
| $224K | ﹤0.01% |
1,094
+84
| +8% | +$19.9K |
|
159
GE Vernova
GEV
$255B
| $216K | ﹤0.01% |
+184
| New | +$188K |
|
160
State Street
STT
$51.4B
| $209K | ﹤0.01% |
+1,231
| New | +$190K |
|
|
DOCU
161
DocuSign
DOCU
$11.8B
| $200K | ﹤0.01% |
4,510
| – | – |
|
|
AMWD
162
DELISTED
American Woodmark
AMWD
| – | – |
-1,643,562
| Closed | -$65.5M |
|
163
Cirrus Logic
CRUS
$5.78B
| – | – |
-2,114
| Closed | -$306K |
|
164
Hartford Financial Services
HIG
$36.9B
| – | – |
-2,127
| Closed | -$288K |
|
|
HOLX
165
DELISTED
Hologic
HOLX
| – | – |
-3,964
| Closed | -$300K |
|
166
Intuit
INTU
$100B
| – | – |
-560
| Closed | -$242K |
|
167
Johnson & Johnson
JNJ
$651B
| – | – |
-203,965
| Closed | -$49.9M |
|
168
T-Mobile US
TMUS
$196B
| – | – |
-975
| Closed | -$205K |
|
169
TriMas Corp
TRS
$1.41B
| – | – |
-9,923
| Closed | -$357K |
|
170
Wabtec
WAB
$50.3B
| – | – |
-367,753
| Closed | -$91.9M |
|
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.