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 |
Charter Communications
CHTR
|
+$450M |
| 2 |
CVS Health
CVS
|
+$361M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$341M |
| 4 |
Magna International
MGA
|
+$285M |
| 5 |
Dollar General
DG
|
+$275M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wabtec
WAB
|
+$366M |
| 2 |
GE Aerospace
GE
|
+$186M |
| 3 |
Gildan
GIL
|
+$165M |
| 4 |
PVH
PVH
|
+$129M |
| 5 |
Acuity Brands
AYI
|
+$97.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.63% |
| 2 | Technology | 15.19% |
| 3 | Healthcare | 14.25% |
| 4 | Consumer Discretionary | 14.18% |
| 5 | Consumer Staples | 5.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Magna International
MGA
$19.5B
| $1.33B | 4.57% |
18,043,349
+5,166,536
| +40% | +$285M |
|
2
Cognizant
CTSH
$27.9B
| $1.22B | 4.19% |
16,666,771
-698,427
| -4% | -$53.4M |
|
3
Capital One
COF
$134B
| $1.09B | 3.73% |
7,297,565
-453,478
| -6% | -$61.4M |
|
4
Dow Inc
DOW
$23.4B
| $1.07B | 3.68% |
18,518,299
-42,057
| -0.2% | -$2.32M |
|
5
Baxter International
BAX
$13.6B
| $1.04B | 3.58% |
24,405,420
+135,250
| +0.6% | +$5.5M |
|
6
Citigroup
C
$221B
| $1.03B | 3.54% |
16,322,516
-528,120
| -3% | -$29.4M |
|
7
Wells Fargo
WFC
$254B
| $993M | 3.41% |
17,129,130
-842,589
| -5% | -$44.1M |
|
8
Equitable Holdings
EQH
$13.3B
| $962M | 3.3% |
25,320,633
-1,247,430
| -5% | -$42.4M |
|
9
Edison International
EIX
$27.5B
| $962M | 3.3% |
13,605,080
+305,459
| +2% | +$20.9M |
|
10
SS&C Technologies
SSNC
$19.5B
| $935M | 3.21% |
14,519,103
+46,211
| +0.3% | +$2.87M |
|
11
Lear
LEA
$8.56B
| $904M | 3.1% |
6,241,781
-12,076
| -0.2% | -$1.65M |
|
|
12
Charter Communications
CHTR
$17.9B
| $828M | 2.84% |
2,848,459
+1,399,034
| +97% | +$450M |
|
13
UBS Group
UBS
$163B
| $823M | 2.83% |
29,670,539
-474,574
| -2% | -$14M |
|
14
Bank of America
BAC
$431B
| $814M | 2.79% |
21,465,791
+954,885
| +5% | +$32.8M |
|
|
15
PVH
PVH
$3.62B
| $751M | 2.58% |
5,339,437
-1,006,231
| -16% | -$129M |
|
16
MetLife
MET
$60B
| $743M | 2.55% |
10,029,230
-83,372
| -0.8% | -$5.81M |
|
17
NOV
NOV
$7.28B
| $685M | 2.35% |
35,072,648
+3,946,504
| +13% | +$73.4M |
|
18
Medtronic
MDT
$119B
| $668M | 2.29% |
7,669,192
+168,630
| +2% | +$14.4M |
|
|
19
Bristol-Myers Squibb
BMY
$137B
| $667M | 2.29% |
12,293,913
+6,701,097
| +120% | +$341M |
|
20
Tyson Foods
TSN
$20.6B
| $620M | 2.13% |
10,550,056
+4,662,332
| +79% | +$255M |
|
|
21
CVS Health
CVS
$119B
| $443M | 1.52% |
5,553,457
+4,729,207
| +574% | +$361M |
|
22
Newell Brands
NWL
$2.59B
| $432M | 1.48% |
53,791,092
-305,676
| -0.6% | -$2.43M |
|
23
Avnet
AVT
$7.27B
| $426M | 1.46% |
8,594,535
-38,282
| -0.4% | -$1.79M |
|
24
TE Connectivity
TEL
$58.9B
| $406M | 1.4% |
2,798,532
+238,370
| +9% | +$33.4M |
|
25
Amdocs
DOX
$6.41B
| $385M | 1.32% |
4,254,777
+15,264
| +0.4% | +$1.39M |
|
Similar funds
Richard Pzena's Q1 2024 Portfolio in Review
As of Q1 2024, Richard Pzena held 172 positions worth $29.1B, up 9.5% from $26.6B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Richard Pzena's Q1 2024 filing shows 8 new, 51 increased, 94 reduced and 13 closed positions. Its largest new stake was Dollar General: 1,933,475 shares worth $302M. The largest sale was Wabtec, an estimated $366M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, down from 30% a quarter earlier, followed by Technology and Healthcare.
- Richard Pzena's largest Q1 2024 buy was Dollar General: 1,933,475 shares worth $302M.
- Richard Pzena added most to Charter Communications in Q1 2024, an estimated $450M increase.
- Richard Pzena's biggest Q1 2024 reduction was Wabtec, cutting an estimated $366M.
- Richard Pzena fully exited Juniper Networks in Q1 2024, selling an estimated $36.3M.
- Richard Pzena's ten largest holdings make up 37% of its $29.1B portfolio in Q1 2024.
- Richard Pzena opened 8 new positions and closed 13 in Q1 2024.
- Richard Pzena's portfolio value rose 9.5% quarter-over-quarter to $29.1B.
Based on Pzena Investment Management's 13F filing for Q1 2024, filed 3 May 2024.