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
|
+$261M |
| 2 |
Citigroup
C
|
+$168M |
| 3 |
GE Aerospace
GE
|
+$154M |
| 4 |
Gildan
GIL
|
+$117M |
| 5 |
Capital One
COF
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baker Hughes
BKR
|
+$351M |
| 2 |
American International
AIG
|
+$292M |
| 3 |
Halliburton
HAL
|
+$227M |
| 4 |
Stanley Black & Decker
SWK
|
+$141M |
| 5 |
ExxonMobil
XOM
|
+$125M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 26.02% |
| 2 | Technology | 15.91% |
| 3 | Consumer Discretionary | 13.42% |
| 4 | Industrials | 10.71% |
| 5 | Healthcare | 10.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Cognizant
CTSH
$27.9B
| $929M | 4.16% |
13,768,131
+325,537
| +2% | +$24.9M |
|
2
Edison International
EIX
$27.5B
| $883M | 3.95% |
13,959,362
-711,129
| -5% | -$48.2M |
|
|
3
GE Aerospace
GE
$361B
| $830M | 3.72% |
20,923,581
+3,185,637
| +18% | +$154M |
|
4
Lear
LEA
$8.56B
| $814M | 3.64% |
6,463,079
+197,550
| +3% | +$26.1M |
|
5
McKesson
MCK
$100B
| $794M | 3.56% |
2,433,360
-269,130
| -10% | -$86.1M |
|
6
Wabtec
WAB
$50.3B
| $786M | 3.52% |
9,578,666
-419,140
| -4% | -$37.4M |
|
7
Newell Brands
NWL
$2.59B
| $715M | 3.2% |
37,569,337
+1,318,143
| +4% | +$28M |
|
|
8
Citigroup
C
$221B
| $705M | 3.16% |
15,334,377
+3,353,371
| +28% | +$168M |
|
9
Wells Fargo
WFC
$254B
| $666M | 2.98% |
16,993,279
-692,814
| -4% | -$30.4M |
|
10
NRG Energy
NRG
$23.8B
| $631M | 2.83% |
16,530,610
-2,123,963
| -11% | -$86.8M |
|
11
NOV
NOV
$7.28B
| $623M | 2.79% |
36,845,885
-1,719,150
| -4% | -$32.4M |
|
12
Equitable Holdings
EQH
$13.3B
| $577M | 2.59% |
22,147,532
+220,775
| +1% | +$6.4M |
|
|
13
American International
AIG
$39.8B
| $548M | 2.45% |
10,712,738
-5,030,099
| -32% | -$292M |
|
14
Amdocs
DOX
$6.41B
| $529M | 2.37% |
6,347,183
-152,640
| -2% | -$12.6M |
|
|
15
Halliburton
HAL
$29.4B
| $523M | 2.34% |
16,678,893
-6,090,718
| -27% | -$227M |
|
|
16
SS&C Technologies
SSNC
$19.5B
| $518M | 2.32% |
8,916,391
+4,055,156
| +83% | +$261M |
|
|
17
Capital One
COF
$134B
| $505M | 2.26% |
4,842,786
+932,873
| +24% | +$114M |
|
18
Avnet
AVT
$7.27B
| $461M | 2.06% |
10,740,660
-1,300,011
| -11% | -$56.7M |
|
19
PVH
PVH
$3.62B
| $452M | 2.02% |
7,939,967
+103,775
| +1% | +$7.17M |
|
20
Hewlett Packard
HPE
$70.8B
| $425M | 1.91% |
32,075,426
-5,504,246
| -15% | -$83.5M |
|
21
AXIS Capital
AXS
$7.2B
| $387M | 1.73% |
6,778,381
-333,382
| -5% | -$19M |
|
|
22
Gildan
GIL
$10.4B
| $362M | 1.62% |
12,587,056
+3,659,935
| +41% | +$117M |
|
23
Fresenius Medical Care
FMS
$12.5B
| $329M | 1.47% |
13,176,037
+1,598,405
| +14% | +$47.8M |
|
24
Dow Inc
DOW
$23.4B
| $324M | 1.45% |
6,276,788
-11,704
| -0.2% | -$750K |
|
25
Bristol-Myers Squibb
BMY
$137B
| $321M | 1.44% |
4,171,232
+545,445
| +15% | +$41.5M |
|
Similar funds
Richard Pzena's Q2 2022 Portfolio in Review
As of Q2 2022, Richard Pzena held 182 positions worth $22.3B, down 16% from $26.5B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Richard Pzena's Q2 2022 filing shows 5 new, 63 increased, 67 reduced and 14 closed positions. Its largest new stake was GMS Inc: 1,078,363 shares worth $48M. The largest sale was Baker Hughes, an estimated $351M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 26% a quarter earlier, followed by Technology and Consumer Discretionary.
- Richard Pzena's largest Q2 2022 buy was GMS Inc: 1,078,363 shares worth $48M.
- Richard Pzena added most to SS&C Technologies in Q2 2022, an estimated $261M increase.
- Richard Pzena's biggest Q2 2022 reduction was Baker Hughes, cutting an estimated $351M.
- Richard Pzena fully exited Stanley Black & Decker in Q2 2022, selling an estimated $141M.
- Richard Pzena's ten largest holdings make up 35% of its $22.3B portfolio in Q2 2022.
- Richard Pzena opened 5 new positions and closed 14 in Q2 2022.
- Richard Pzena's portfolio value fell 16% quarter-over-quarter to $22.3B.
Based on Pzena Investment Management's 13F filing for Q2 2022, filed 5 Aug 2022.