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 |
KKR & Co
KKR
|
+$234M |
| 2 |
NOV
NOV
|
+$213M |
| 3 |
GE Aerospace
GE
|
+$210M |
| 4 |
Edison International
EIX
|
+$74.5M |
| 5 |
Equitable Holdings
EQH
|
+$51.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street
STT
|
+$85.4M |
| 2 |
MFGP
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
|
+$73.4M |
| 3 |
Walmart Inc
WMT
|
+$66.7M |
| 4 |
Murphy Oil
MUR
|
+$52.1M |
| 5 |
Franklin Templeton, Inc.
BEN
|
+$50.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 34.39% |
| 2 | Healthcare | 13.58% |
| 3 | Technology | 13.34% |
| 4 | Industrials | 11.13% |
| 5 | Energy | 10.48% |
Similar funds
Richard Pzena's Q3 2018 Portfolio in Review
As of Q3 2018, Richard Pzena held 198 positions worth $20.6B, up 3.4% from $19.9B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Richard Pzena's Q3 2018 filing shows 37 new, 62 increased, 64 reduced and 15 closed positions. Its largest new stake was General Motors: 739,178 shares worth $24.9M. The largest sale was State Street, an estimated $85.4M.
By sector, the portfolio is most concentrated in Financials at 34% of assets, down from 35% a quarter earlier, followed by Healthcare and Technology.
- Richard Pzena's largest Q3 2018 buy was General Motors: 739,178 shares worth $24.9M.
- Richard Pzena added most to KKR & Co in Q3 2018, an estimated $234M increase.
- Richard Pzena's biggest Q3 2018 reduction was State Street, cutting an estimated $85.4M.
- Richard Pzena fully exited Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share in Q3 2018, selling an estimated $73.4M.
- Richard Pzena's ten largest holdings make up 27% of its $20.6B portfolio in Q3 2018.
- Richard Pzena opened 37 new positions and closed 15 in Q3 2018.
- Richard Pzena's portfolio value rose 3.4% quarter-over-quarter to $20.6B.
Based on Pzena Investment Management's 13F filing for Q3 2018, filed 9 Nov 2018.