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 |
HP
HPQ
|
+$740M |
| 2 |
SPLS
Staples Inc
SPLS
|
+$501M |
| 3 |
Omnicom Group
OMC
|
+$470M |
| 4 |
Oracle
ORCL
|
+$468M |
| 5 |
American International
AIG
|
+$453M |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.19% |
| 2 | Technology | 18.1% |
| 3 | Energy | 10.51% |
| 4 | Industrials | 8.92% |
| 5 | Consumer Discretionary | 8.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
HP
HPQ
$27.2B
| $816M | 5.43% |
+72,494,656
| New | +$740M |
|
|
SPLS
2
DELISTED
Staples Inc
SPLS
| $555M | 3.69% |
+34,969,289
| New | +$501M |
|
|
3
Omnicom Group
OMC
$24B
| $482M | 3.21% |
+7,662,119
| New | +$470M |
|
|
4
American International
AIG
$39.8B
| $472M | 3.14% |
+10,562,975
| New | +$453M |
|
|
BHI
5
DELISTED
Baker Hughes
BHI
| $435M | 2.89% |
+9,425,678
| New | +$431M |
|
|
6
Oracle
ORCL
$422B
| $433M | 2.88% |
+14,109,021
| New | +$468M |
|
7
Microsoft
MSFT
$3.59T
| $429M | 2.86% |
+12,425,297
| New | +$407M |
|
8
BP
BP
$115B
| $421M | 2.8% |
+12,332,384
| New | +$429M |
|
9
TE Connectivity
TEL
$58.9B
| $409M | 2.73% |
+8,991,623
| New | +$394M |
|
10
Citigroup
C
$221B
| $404M | 2.69% |
+8,422,933
| New | +$405M |
|
|
RDS.A
11
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $390M | 2.6% |
+6,545,587
| New | +$405M |
|
12
Aptiv
APTV
$10B
| $368M | 2.45% |
+7,261,352
| New | +$340M |
|
13
MetLife
MET
$60B
| $341M | 2.27% |
+8,359,386
| New | +$307M |
|
14
Morgan Stanley
MS
$336B
| $324M | 2.16% |
+13,271,340
| New | +$315M |
|
15
Bank of America
BAC
$431B
| $320M | 2.13% |
+24,906,945
| New | +$318M |
|
16
Northrop Grumman
NOC
$78.3B
| $320M | 2.13% |
+3,863,605
| New | +$301M |
|
17
Alphabet (Google) Class C
GOOG
$4.18T
| $314M | 2.09% |
+14,327,543
| New | +$303M |
|
18
JPMorgan Chase
JPM
$935B
| $312M | 2.08% |
+5,917,734
| New | +$301M |
|
19
Entergy
ETR
$48.8B
| $281M | 1.87% |
+8,054,106
| New | +$277M |
|
20
State Street
STT
$51.4B
| $278M | 1.85% |
+4,266,679
| New | +$265M |
|
21
Becton Dickinson
BDX
$52.3B
| $274M | 1.82% |
+2,842,437
| New | +$271M |
|
22
Goldman Sachs
GS
$303B
| $273M | 1.82% |
+1,803,875
| New | +$275M |
|
|
LLL
23
DELISTED
L3 Technologies, Inc.
LLL
| $268M | 1.78% |
+3,125,479
| New | +$262M |
|
24
ExxonMobil
XOM
$679B
| $264M | 1.75% |
+2,916,996
| New | +$262M |
|
25
AXIS Capital
AXS
$7.2B
| $262M | 1.75% |
+5,729,802
| New | +$252M |
|
Similar funds
Richard Pzena's Q2 2013 Portfolio in Review
Q2 2013 is the first quarter with a 13F filing on record for Richard Pzena, which disclosed 122 positions worth $15B. Its ten largest holdings account for 32% of the portfolio.
Its largest position is HP: 72,494,656 shares worth $816M.
By sector, the portfolio is most concentrated in Financials at 35% of assets, followed by Technology and Energy.
- Richard Pzena's largest Q2 2013 buy was HP: 72,494,656 shares worth $816M.
- Richard Pzena's ten largest holdings make up 32% of its $15B portfolio in Q2 2013.
- Richard Pzena disclosed 122 positions in Q2 2013, its first 13F filing on record.
Based on Pzena Investment Management's 13F filing for Q2 2013, filed 9 Aug 2013.