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 |
SS&C Technologies
SSNC
|
+$220M |
| 2 |
Fresenius Medical Care
FMS
|
+$100M |
| 3 |
GE Aerospace
GE
|
+$86M |
| 4 |
Citigroup
C
|
+$54.5M |
| 5 |
GAP
The Gap Inc
GAP
|
+$50.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ford
F
|
+$430M |
| 2 |
Textron
TXT
|
+$111M |
| 3 |
Morgan Stanley
MS
|
+$73.3M |
| 4 |
Ryder
R
|
+$49.3M |
| 5 |
Oracle
ORCL
|
+$48.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 27.39% |
| 2 | Technology | 14.91% |
| 3 | Consumer Discretionary | 13.03% |
| 4 | Industrials | 12.37% |
| 5 | Energy | 10.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Gilead Sciences
GILD
$181B
| $247K | ﹤0.01% |
3,404
-4,720
| -58% | -$325K |
|
152
LPL Financial
LPLA
$28.5B
| $235K | ﹤0.01% |
+1,465
| New | +$242K |
|
153
Expeditors International
EXPD
$24.4B
| $228K | ﹤0.01% |
+1,696
| New | +$212K |
|
|
SBNY
154
DELISTED
Signature Bank
SBNY
| $223K | ﹤0.01% |
+689
| New | +$215K |
|
155
HP
HPQ
$27.2B
| $221K | ﹤0.01% |
5,874
-351
| -6% | -$11.5K |
|
156
AutoNation
AN
$6.6B
| $220K | ﹤0.01% |
+1,882
| New | +$226K |
|
157
AutoZone
AZO
$48.3B
| – | – |
-315
| Closed | -$535K |
|
158
CACI
CACI
$14.3B
| – | – |
-947
| Closed | -$248K |
|
159
Ingredion
INGR
$6.74B
| – | – |
-2,864
| Closed | -$255K |
|
160
Jazz Pharmaceuticals
JAZZ
$16.5B
| – | – |
-1,562
| Closed | -$203K |
|
161
N-able
NABL
$686M
| – | – |
-29,690
| Closed | -$368K |
|
162
UnitedHealth
UNH
$350B
| – | – |
-1,565
| Closed | -$612K |
|
163
Ziff Davis
ZD
$1.92B
| – | – |
-3,843
| Closed | -$457K |
|
Similar funds
Richard Pzena's Q4 2021 Portfolio in Review
As of Q4 2021, Richard Pzena held 181 positions worth $26.5B, up 5% from $25.3B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Richard Pzena's Q4 2021 filing shows 13 new, 55 increased, 86 reduced and 7 closed positions. Its largest new stake was American Woodmark: 736,196 shares worth $48M. The largest sale was Ford, an estimated $430M.
By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 29% a quarter earlier, followed by Technology and Consumer Discretionary.
- Richard Pzena's largest Q4 2021 buy was American Woodmark: 736,196 shares worth $48M.
- Richard Pzena added most to SS&C Technologies in Q4 2021, an estimated $220M increase.
- Richard Pzena's biggest Q4 2021 reduction was Ford, cutting an estimated $430M.
- Richard Pzena fully exited UnitedHealth in Q4 2021, selling an estimated $612K.
- Richard Pzena's ten largest holdings make up 36% of its $26.5B portfolio in Q4 2021.
- Richard Pzena opened 13 new positions and closed 7 in Q4 2021.
- Richard Pzena's portfolio value rose 5% quarter-over-quarter to $26.5B.
Based on Pzena Investment Management's 13F filing for Q4 2021, filed 4 Feb 2022.