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 |
CVS Health
CVS
|
+$363M |
| 2 |
Humana
HUM
|
+$296M |
| 3 |
Global Payments
GPN
|
+$182M |
| 4 |
Skyworks Solutions
SWKS
|
+$140M |
| 5 |
Dollar General
DG
|
+$120M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equitable Holdings
EQH
|
+$381M |
| 2 |
Edison International
EIX
|
+$325M |
| 3 |
Goldman Sachs
GS
|
+$150M |
| 4 |
Capital One
COF
|
+$134M |
| 5 |
Bank of America
BAC
|
+$126M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.57% |
| 2 | Healthcare | 17.81% |
| 3 | Technology | 16.52% |
| 4 | Consumer Discretionary | 12.59% |
| 5 | Consumer Staples | 7.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Amgen
AMGN
$238B
| $209K | ﹤0.01% |
+803
| New | +$238K |
|
152
Qorvo
QRVO
$8.43B
| $208K | ﹤0.01% |
2,977
-267
| -8% | -$21.4K |
|
153
Axalta
AXTA
$7.75B
| – | – |
-36,979
| Closed | -$1.34M |
|
154
Dell
DELL
$286B
| – | – |
-1,917
| Closed | -$227K |
|
|
DOCU
155
DocuSign
DOCU
$11.8B
| – | – |
-6,379
| Closed | -$396K |
|
156
Gildan
GIL
$10.4B
| – | – |
-636,743
| Closed | -$30M |
|
157
Hartford Financial Services
HIG
$36.9B
| – | – |
-1,757
| Closed | -$207K |
|
158
Houlihan Lokey
HLI
$9.02B
| – | – |
-2,329
| Closed | -$368K |
|
|
HOLX
159
DELISTED
Hologic
HOLX
| – | – |
-3,030
| Closed | -$247K |
|
160
Ituran Location and Control
ITRN
$1.01B
| – | – |
-22,659
| Closed | -$601K |
|
161
MKS Inc
MKSI
$18.9B
| – | – |
-3,323
| Closed | -$361K |
|
162
Reinsurance Group of America
RGA
$15.9B
| – | – |
-2,320
| Closed | -$505K |
|
163
T-Mobile US
TMUS
$196B
| – | – |
-1,845
| Closed | -$381K |
|
|
GAP
164
The Gap Inc
GAP
$7.13B
| – | – |
-1,359,676
| Closed | -$30M |
|
Similar funds
Richard Pzena's Q4 2024 Portfolio in Review
As of Q4 2024, Richard Pzena held 164 positions worth $29.4B, down 5.3% from $31B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Richard Pzena withdrew a net $1.01B in Q4 2024, closing 12 positions and reducing 82 holdings. Its most notable exit was Gildan, an estimated $30M position sold in full.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Richard Pzena opened a new position in Envista worth $17M.
- Richard Pzena's largest Q4 2024 buy was Envista: 880,177 shares worth $17M.
- Richard Pzena added most to CVS Health in Q4 2024, an estimated $363M increase.
- Richard Pzena's biggest Q4 2024 reduction was Equitable Holdings, cutting an estimated $381M.
- Richard Pzena fully exited Gildan in Q4 2024, selling an estimated $30M.
- Richard Pzena's ten largest holdings make up 36% of its $29.4B portfolio in Q4 2024.
- Richard Pzena opened 7 new positions and closed 12 in Q4 2024.
- Richard Pzena's portfolio value fell 5.3% quarter-over-quarter to $29.4B.
Based on Pzena Investment Management's 13F filing for Q4 2024, filed 7 Feb 2025.