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RP

Richard Pzena Pzena Investment Management

AUM $34.1B
1-Year Est. Return 23.81%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+0.03%
1 Year Est. Return
+23.81%
3 Year Est. Return
+50.68%
5 Year Est. Return
+72.69%
10 Year Est. Return
+243.55%
AUM
$16B
AUM Growth
-$304M
Cap. Flow
-$172M
Cap. Flow %
-1.08%
Top 10 Hldgs %
25.85%
Holding
153
New
1
Increased
63
Reduced
68
Closed
9

Top Buys

Rank Stock Value
1
STX icon
Seagate
STX
+$138M
2
VOYA icon
Voya Financial
VOYA
+$110M
3
TEX icon
Terex
TEX
+$54M
4
AEL
American Equity Investment Life Holding Company
AEL
+$31.5M
5
MRK icon
Merck
MRK
+$27.6M

Top Sells

Rank Stock Value
1
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
+$54.8M
2
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$51.6M
3
MUR icon
Murphy Oil
MUR
+$49.2M
4
APA icon
APA Corp
APA
+$48.2M
5
BAX icon
Baxter International
BAX
+$42.5M

Sector Composition

Rank Sector Weight
1 Financials 35.37%
2 Technology 17.89%
3 Energy 14.01%
4 Industrials 11.01%
5 Communication Services 6.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BXLT
151
DELISTED
BAXALTA INC COM STK (DE)
BXLT
– –
-1,277,007
Closed -$51.6M
NPBC
152
DELISTED
NATL PENN BANCSHARES INC
NPBC
– –
-2,540,359
Closed -$27M
MWW
153
DELISTED
Monster Worldwide Inc
MWW
– –
-384,426
Closed -$1.25M
3 4 5 6
7

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Richard Pzena's Q2 2016 Portfolio in Review

As of Q2 2016, Richard Pzena held 153 positions worth $16B, down 1.9% from $16.3B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Richard Pzena's Q2 2016 filing shows 1 new, 63 increased, 68 reduced and 9 closed positions. Its largest new stake was Truist Financial: 481,014 shares worth $17.1M. The largest sale was Royal Dutch Shell PLC ADS Class A, an estimated $54.8M.

By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 35% a quarter earlier, followed by Technology and Energy.

  • Richard Pzena's largest Q2 2016 buy was Truist Financial: 481,014 shares worth $17.1M.
  • Richard Pzena added most to Seagate in Q2 2016, an estimated $138M increase.
  • Richard Pzena's biggest Q2 2016 reduction was Royal Dutch Shell PLC ADS Class A, cutting an estimated $54.8M.
  • Richard Pzena fully exited BAXALTA INC COM STK (DE) in Q2 2016, selling an estimated $51.6M.
  • Richard Pzena's ten largest holdings make up 26% of its $16B portfolio in Q2 2016.
  • Richard Pzena opened 1 new position and closed 9 in Q2 2016.
  • Richard Pzena's portfolio value fell 1.9% quarter-over-quarter to $16B.

Based on Pzena Investment Management's 13F filing for Q2 2016, filed 5 Aug 2016.