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 |
Baxter International
BAX
|
+$458M |
| 2 |
Universal Health Services
UHS
|
+$219M |
| 3 |
Corebridge Financial
CRBG
|
+$123M |
| 4 |
Accenture
ACN
|
+$88.1M |
| 5 |
PPG Industries
PPG
|
+$81.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charter Communications
CHTR
|
+$678M |
| 2 |
Medtronic
MDT
|
+$269M |
| 3 |
TE Connectivity
TEL
|
+$106M |
| 4 |
Citigroup
C
|
+$98.9M |
| 5 |
Capital One
COF
|
+$80.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.93% |
| 2 | Healthcare | 20.13% |
| 3 | Technology | 17.5% |
| 4 | Consumer Discretionary | 14.08% |
| 5 | Consumer Staples | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Magna International
MGA
$19.5B
| $1.92B | 6.19% |
29,068,447
-434,482
| -1% | -$19.1M |
|
|
2
Baxter International
BAX
$13.6B
| $1.31B | 4.22% |
57,387,040
+18,050,555
| +46% | +$458M |
|
|
3
Citigroup
C
$221B
| $1.27B | 4.11% |
12,532,003
-1,042,697
| -8% | -$98.9M |
|
4
Dollar General
DG
$27.2B
| $1.21B | 3.9% |
11,677,669
-171,269
| -1% | -$18.8M |
|
5
CVS Health
CVS
$119B
| $1.19B | 3.86% |
15,844,972
-901,881
| -5% | -$61.8M |
|
6
Cognizant
CTSH
$27.9B
| $1.19B | 3.84% |
17,710,868
+260,177
| +1% | +$18.8M |
|
|
7
Capital One
COF
$134B
| $1.07B | 3.47% |
5,052,134
-369,401
| -7% | -$80.9M |
|
8
Humana
HUM
$45.5B
| $1.05B | 3.39% |
4,031,083
-45,584
| -1% | -$12M |
|
9
UBS Group
UBS
$163B
| $967M | 3.13% |
29,746,473
-1,155,919
| -4% | -$44.9M |
|
10
Skyworks Solutions
SWKS
$10.1B
| $945M | 3.05% |
12,272,162
+64,519
| +0.5% | +$4.81M |
|
11
Global Payments
GPN
$24.7B
| $906M | 2.93% |
10,908,810
-141,443
| -1% | -$11.9M |
|
12
SS&C Technologies
SSNC
$19.5B
| $903M | 2.92% |
10,175,891
-284,688
| -3% | -$24.6M |
|
13
Wells Fargo
WFC
$254B
| $856M | 2.77% |
10,217,379
-154,433
| -1% | -$12.5M |
|
14
MetLife
MET
$60B
| $797M | 2.57% |
9,672,023
+527,388
| +6% | +$41.5M |
|
15
Lear
LEA
$8.56B
| $754M | 2.44% |
7,497,417
-105,574
| -1% | -$11M |
|
16
Tyson Foods
TSN
$20.6B
| $751M | 2.43% |
13,829,526
+120,826
| +0.9% | +$6.67M |
|
|
17
Corebridge Financial
CRBG
$14.2B
| $716M | 2.31% |
22,329,199
+3,605,498
| +19% | +$123M |
|
18
Bristol-Myers Squibb
BMY
$137B
| $672M | 2.17% |
14,901,604
+58,129
| +0.4% | +$2.71M |
|
19
Dow Inc
DOW
$23.4B
| $623M | 2.01% |
27,166,229
+74,991
| +0.3% | +$1.87M |
|
|
20
Medtronic
MDT
$119B
| $565M | 1.82% |
5,928,086
-2,927,205
| -33% | -$269M |
|
21
NOV
NOV
$7.28B
| $562M | 1.82% |
42,389,833
-319,057
| -0.7% | -$4.12M |
|
22
Amdocs
DOX
$6.41B
| $541M | 1.75% |
6,593,249
+42,184
| +0.6% | +$3.66M |
|
23
PVH
PVH
$3.62B
| $524M | 1.69% |
6,254,994
-152,643
| -2% | -$12M |
|
|
24
TE Connectivity
TEL
$58.9B
| $415M | 1.34% |
1,889,576
-528,977
| -22% | -$106M |
|
25
Fresenius Medical Care
FMS
$12.5B
| $390M | 1.26% |
14,816,852
+153,870
| +1% | +$3.96M |
|
Similar funds
Richard Pzena's Q3 2025 Portfolio in Review
As of Q3 2025, Richard Pzena held 160 positions worth $30.9B, up 0.62% from $30.8B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Richard Pzena's Q3 2025 filing shows 8 new, 66 increased, 71 reduced and 6 closed positions. Its largest new stake was Accenture: 337,930 shares worth $83.3M. The largest sale was Charter Communications, an estimated $678M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 25% a quarter earlier, followed by Healthcare and Technology.
- Richard Pzena's largest Q3 2025 buy was Accenture: 337,930 shares worth $83.3M.
- Richard Pzena added most to Baxter International in Q3 2025, an estimated $458M increase.
- Richard Pzena's biggest Q3 2025 reduction was Charter Communications, cutting an estimated $678M.
- Richard Pzena fully exited The Shyft Group in Q3 2025, selling an estimated $44.9M.
- Richard Pzena's ten largest holdings make up 39% of its $30.9B portfolio in Q3 2025.
- Richard Pzena opened 8 new positions and closed 6 in Q3 2025.
- Richard Pzena's portfolio value rose 0.62% quarter-over-quarter to $30.9B.
Based on Pzena Investment Management's 13F filing for Q3 2025, filed 7 Nov 2025.