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 |
Corebridge Financial
CRBG
|
+$332M |
| 2 |
Skyworks Solutions
SWKS
|
+$297M |
| 3 |
Global Payments
GPN
|
+$215M |
| 4 |
WNS
WNS Holdings
WNS
|
+$99.6M |
| 5 |
Baxter International
BAX
|
+$77.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dollar General
DG
|
+$91.5M |
| 2 |
Equitable Holdings
EQH
|
+$85.4M |
| 3 |
JELD-WEN Holding
JELD
|
+$61.6M |
| 4 |
CVS Health
CVS
|
+$61.3M |
| 5 |
Nokia
NOK
|
+$60.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.69% |
| 2 | Healthcare | 19.45% |
| 3 | Technology | 17.94% |
| 4 | Consumer Discretionary | 12.3% |
| 5 | Consumer Staples | 8.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
Alkermes
ALKS
$8.11B
| $213K | ﹤0.01% |
+7,439
| New | +$221K |
|
152
Dell
DELL
$286B
| $209K | ﹤0.01% |
+1,703
| New | +$174K |
|
153
Cencora
COR
$60.7B
| – | – |
-980
| Closed | -$273K |
|
|
DFS
154
DELISTED
Discover Financial Services
DFS
| – | – |
-1,459
| Closed | -$249K |
|
155
eBay
EBAY
$46.3B
| – | – |
-3,860
| Closed | -$261K |
|
156
Gilead Sciences
GILD
$181B
| – | – |
-2,662
| Closed | -$298K |
|
|
157
JELD-WEN Holding
JELD
$200M
| – | – |
-10,311,305
| Closed | -$61.6M |
|
158
Phibro Animal Health
PAHC
$1.47B
| – | – |
-723,830
| Closed | -$15.5M |
|
Similar funds
Richard Pzena's Q2 2025 Portfolio in Review
As of Q2 2025, Richard Pzena held 158 positions worth $30.8B, up 7.4% from $28.6B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Richard Pzena deployed $1.53B of net new capital in Q2 2025, opening 12 new positions and adding to 92 existing holdings. Its largest new stake was WNS Holdings: 1,662,463 shares worth $105M.
By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 23% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Dollar General, an estimated $91.5M trimmed.
- Richard Pzena's largest Q2 2025 buy was WNS Holdings: 1,662,463 shares worth $105M.
- Richard Pzena added most to Corebridge Financial in Q2 2025, an estimated $332M increase.
- Richard Pzena's biggest Q2 2025 reduction was Dollar General, cutting an estimated $91.5M.
- Richard Pzena fully exited JELD-WEN Holding in Q2 2025, selling an estimated $61.6M.
- Richard Pzena's ten largest holdings make up 39% of its $30.8B portfolio in Q2 2025.
- Richard Pzena opened 12 new positions and closed 6 in Q2 2025.
- Richard Pzena's portfolio value rose 7.4% quarter-over-quarter to $30.8B.
Based on Pzena Investment Management's 13F filing for Q2 2025, filed 25 Jul 2025.