
	Richard Pzena 13F
	Pzena Investment Management LLC

	Last update 2024-11-08	157 Stocks (7 new)
	Value $31.02 Bil	Turnover 8 %
	Countries: Top Holdings: MGA(4.71%)CTSH(4.63%)BAX(3.94%)COF(3.35%)DOW(3.34%) Portfolio Report

Richard Pzena Profile

Richard Pzena is the founder and Co-Chief Investment Officer of Pzena Investment Management, LLC. Pzena started the firm in 1995. He earned a BS summa cum laude from the Wharton School in 1979 and an MBA from the University of Pennsylvania in 1980.

Richard Pzena Investing Philosophy

Pzena's philosophy is based on ranking companies from the cheapest to the most expensive on the basis of how their current share price compares to their normal long-term earnings power. He purchases shares in good businesses that are selling at a low price. He understands that it is often unrealistic to expect such opportunities to be available absent some sort of problem which causes the price of the shares to drop. The question Pzena and his team try to answer is whether the issue that caused the drop in price is temporary or permanent.

Richard Pzena Portfolio and Latest Trades

Ticker
Ticker
BAX
HUM
UBS
DG
GE
GE
NRG
CVS
MET
GPN
CHTR
WAB
MGA
CVS
WAB
MCK
BMY
AIG
TSN
NRG
HPE
SWKS
TEL
DG
DOW
MDT
MGA
CHTR
MGA
MCK
HAL
GE
TSN
BAX
DAL
EIX
CHTR
MGA
BKNG
GEHC
EQH
GPN
MGA
FMS
FTI
CTSH
BAX
DOW
WAB
BAC
NOK
DOW
AXS
ORCL
GE
GIL
MGA
MDT
MCK
MDT
BKNG
HAL
XOM
BAC
HPE
NOV
NWL
CHTR
SKX
PFE
CTSH
NOV
PVH
TEX
SSNC
BKNG
SKX
WAB
HUM
GIL
COF
AIG
MDT
NOV
MGA
TSN
DOX
KSPI
LEA
TCOM
GEHC
LDOS
SHEL
DIS
FTI
BKNG
GAP
ZTO
SSNC
DIS

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
BAX	Baxter International Inc	2023-12-31	Add	+2.70%	● 31.71 ($35.38) 38.95	$33.31	-5.85%	Add 324.18%	24,270,170	18,548,514
HUM	Humana Inc	2024-06-30	Add	+2.57%	● 302.09 ($337.63) 373.65	$296.68	-12.13%	Add 538.71%	2,318,347	1,955,375
UBS	UBS Group AG	2023-12-31	Add	+2.36%	● 23.36 ($26.3) 31.19	$31.34	19.16%	Add 392.76%	30,145,113	24,027,505
DG	Dollar General Corp	2024-09-30	Add	+2.29%	● 80.41 ($109.62) 132.42	$76.26	-30.43%	Add 453.41%	10,238,886	8,388,735
GE	General Electric Co	2023-06-30	Reduce	-2.23%	● 93.6 ($101.37) 109.85	$180.60	78.16%	Reduce -44.6%	6,697,314	-5,390,792
GE	General Electric Co	2023-12-31	Reduce	-1.63%	● 106.08 ($116.09) 128.32	$180.60	55.57%	Reduce -73.04%	1,266,075	-3,429,221
NRG	NRG Energy Inc	2022-12-31	Reduce	-1.57%	● 31.05 ($39.56) 45.4	$98.89	149.97%	Reduce -49.7%	8,352,024	-8,252,613
CVS	CVS Health Corp	2024-06-30	Add	+1.54%	● 53.63 ($62.55) 79.56	$59.96	-4.14%	Add 132.94%	12,936,388	7,382,931
MET	MetLife Inc	2023-09-30	Add	+1.48%	● 56.71 ($62.28) 66.36	$88.25	41.70%	Add 118.12%	10,108,992	5,474,449
GPN	Global Payments Inc	2024-06-30	Add	+1.44%	● 92.21 ($110.19) 130.15	$119.38	8.34%	Add 194.24%	6,423,463	4,240,388
CHTR	Charter Communications Inc	2024-03-31	Add	+1.39%	● 276.33 ($321.44) 391.51	$389.81	21.27%	Add 96.52%	2,848,459	1,399,034
WAB	Westinghouse Air Brake Technologies Corp	2023-12-31	Reduce	-1.34%	● 98.74 ($112.87) 127.14	$200.04	77.23%	Reduce -39.3%	4,551,240	-2,946,836
MGA	Magna International Inc	2024-03-31	Add	+1.31%	● 52.05 ($55.17) 59.19	$44.95	-18.52%	Add 40.12%	18,043,349	5,166,536
CVS	CVS Health Corp	2024-03-31	Add	+1.29%	● 71.99 ($76.39) 81.42	$59.96	-21.51%	Add 573.76%	5,553,457	4,729,207
WAB	Westinghouse Air Brake Technologies Corp	2024-03-31	Reduce	-1.29%	● 123.99 ($135.45) 145.87	$200.04	47.69%	Reduce -59.34%	1,850,334	-2,700,906
MCK	McKesson Corp	2022-12-31	Reduce	-1.26%	● 345.39 ($372.97) 397.58	$626.38	67.94%	Reduce -43.43%	973,538	-747,521
BMY	Bristol-Myers Squibb Co	2024-03-31	Add	+1.25%	● 47.98 ($50.94) 54.4	$59.27	16.35%	Add 119.82%	12,293,913	6,701,097
AIG	American International Group Inc	2023-09-30	Reduce	-1.19%	● 57.34 ($59.71) 62.36	$77.14	29.19%	Reduce -63.88%	2,733,212	-4,834,549
TSN	Tyson Foods Inc	2023-09-30	New Buy	+1.18%	● 49.93 ($53.26) 56.46	$64.45	21.01%	New holding	5,440,820	5,440,820
NRG	NRG Energy Inc	2023-03-31	Sold Out	-1.18%	● 30.82 ($33.12) 35.83	$98.89	198.58%	Sold Out	0	-8,352,024
HPE	Hewlett Packard Enterprise Co	2023-03-31	Reduce	-1.15%	● 13.91 ($15.71) 17.11	$20.80	32.40%	Reduce -55.48%	13,083,343	-16,302,925
SWKS	Skyworks Solutions Inc	2023-12-31	New Buy	+1.14%	● 86.45 ($97.84) 114.51	$86.80	-11.28%	New holding	2,689,100	2,689,100
TEL	TE Connectivity Ltd	2023-03-31	New Buy	+1.04%	● 114.66 ($126.55) 134.95	$151.15	19.44%	New holding	1,829,636	1,829,636
DG	Dollar General Corp	2024-03-31	New Buy	+1.04%	● 130.67 ($142.16) 161.22	$76.26	-46.36%	New holding	1,933,475	1,933,475
DOW	Dow Inc	2023-03-31	Add	+1.03%	● 50.02 ($56.26) 60.51	$44.64	-20.65%	Add 41.43%	14,901,209	4,365,219
MDT	Medtronic PLC	2023-09-30	Add	+1.02%	● 78.22 ($83.71) 90.4	$86.27	3.06%	Add 112.78%	5,730,577	3,037,394
MGA	Magna International Inc	2022-12-31	New Buy	+1.02%	● 47.19 ($56.18) 63.42	$44.95	-19.99%	New holding	4,096,785	4,096,785
CHTR	Charter Communications Inc	2023-06-30	Add	+0.97%	● 319.66 ($341.49) 368.7	$389.81	14.15%	Add 104.88%	1,205,824	617,287
MGA	Magna International Inc	2024-09-30	Add	+0.96%	● 38.03 ($41.78) 45.82	$44.95	7.59%	Add 25.59%	26,322,353	5,363,408
MCK	McKesson Corp	2023-09-30	Reduce	-0.95%	● 402.4 ($421.42) 446.42	$626.38	48.64%	Reduce -83.99%	98,919	-518,932
HAL	Halliburton Co	2022-12-31	Reduce	-0.94%	● 26.38 ($35.39) 39.54	$31.88	-9.92%	Reduce -49.47%	7,893,885	-7,727,294
GE	General Electric Co	2023-09-30	Reduce	-0.94%	● 107.37 ($112.61) 117.16	$180.60	60.38%	Reduce -29.89%	4,695,296	-2,002,018
TSN	Tyson Foods Inc	2024-03-31	Add	+0.94%	● 51.61 ($54.79) 58.81	$64.45	17.63%	Add 79.19%	10,550,056	4,662,332
BAX	Baxter International Inc	2023-09-30	New Buy	+0.93%	● 37.32 ($42.6) 49.29	$33.31	-21.81%	New holding	5,721,656	5,721,656
DAL	Delta Air Lines Inc	2024-09-30	New Buy	+0.91%	● 37.32 ($43.57) 51.81	$63.62	46.02%	New holding	5,536,640	5,536,640
EIX	Edison International	2024-09-30	Reduce	-0.91%	● 71.19 ($81.22) 87.72	$88.36	8.79%	Reduce -28.06%	9,262,648	-3,612,638
CHTR	Charter Communications Inc	2023-03-31	New Buy	+0.91%	● 329.49 ($373.53) 412.25	$389.81	4.36%	New holding	588,537	588,537
MGA	Magna International Inc	2023-12-31	Add	+0.90%	● 47.65 ($53.93) 59.82	$44.95	-16.65%	Add 31.25%	12,876,813	3,065,804
BKNG	Booking Holdings Inc	2023-12-31	Sold Out	-0.90%	● 2742.69 ($3118.13) 3566.65	$5,223.15	67.51%	Sold Out	0	-68,289
GEHC	GE HealthCare Technologies Inc	2023-09-30	Sold Out	-0.89%	● 63.89 ($72.76) 82.63	$83.00	14.07%	Sold Out	0	-2,573,162
EQH	Equitable Holdings Inc	2024-06-30	Reduce	-0.87%	● 35.63 ($39.17) 41.5	$48.08	22.75%	Reduce -26.37%	18,642,684	-6,677,949
GPN	Global Payments Inc	2023-09-30	New Buy	+0.85%	● 102.16 ($118.96) 129.32	$119.38	0.35%	New holding	1,714,837	1,714,837
MGA	Magna International Inc	2023-09-30	Add	+0.83%	● 52.49 ($58.26) 64.33	$44.95	-22.85%	Add 58.2%	9,811,009	3,609,429
FMS	Fresenius Medical Care AG & Co. KGaA	2022-12-31	Add	+0.81%	● 12.81 ($14.82) 16.38	$22.48	51.69%	Add 85.41%	24,332,192	11,209,015
FTI	TechnipFMC PLC	2022-12-31	Reduce	-0.80%	● 8.93 ($11.19) 12.89	$31.01	177.12%	Reduce -72.03%	7,374,728	-18,993,002
CTSH	Cognizant Technology Solutions Corp	2022-12-31	Add	+0.78%	● 51.96 ($58.65) 63.02	$80.75	37.68%	Add 21.77%	17,357,679	3,102,695
BAX	Baxter International Inc	2024-06-30	Add	+0.76%	● 32.87 ($36.86) 43.55	$33.31	-9.63%	Add 26.3%	30,823,004	6,417,584
DOW	Dow Inc	2023-09-30	Add	+0.74%	● 50.25 ($53.68) 56.47	$44.64	-16.84%	Add 22.49%	18,230,680	3,346,726
WAB	Westinghouse Air Brake Technologies Corp	2024-06-30	Reduce	-0.70%	● 144.17 ($159.76) 170.65	$200.04	25.21%	Reduce -75.44%	454,395	-1,395,939
BAC	Bank of America Corp	2023-06-30	Add	+0.68%	● 26.99 ($28.54) 30.56	$47.77	67.38%	Add 57.81%	15,094,260	5,529,194
NOK	Nokia Oyj	2023-09-30	Add	+0.68%	● 3.7 ($3.94) 4.35	$4.19	6.35%	Add 13524.19%	42,791,256	42,477,173
DOW	Dow Inc	2022-12-31	Add	+0.67%	● 43.81 ($48.85) 53.14	$44.64	-8.62%	Add 40.27%	10,535,990	3,024,868
AXS	Axis Capital Holdings Ltd	2023-09-30	Reduce	-0.64%	● 52.64 ($55.19) 57.98	$93.85	70.05%	Reduce -58.91%	1,932,990	-2,770,838
ORCL	Oracle Corp	2023-09-30	Reduce	-0.62%	● 104.62 ($115.75) 126.71	$182.70	57.84%	Reduce -64.75%	662,618	-1,217,349
GE	GE Aerospace	2024-03-31	Reduce	-0.61%	● 98.94 ($117.76) 143.65	$180.60	53.36%	Reduce -99.75%	3,127	-1,262,948
GIL	Gildan Activewear Inc	2024-03-31	Reduce	-0.60%	● 31.32 ($33.99) 37.85	$49.56	45.81%	Reduce -50.6%	4,743,931	-4,858,215
MGA	Magna International Inc	2024-06-30	Add	+0.59%	● 41.55 ($46.75) 53.33	$44.95	-3.85%	Add 16.16%	20,958,945	2,915,596
MDT	Medtronic PLC	2023-06-30	Add	+0.57%	● 79.47 ($86) 91.38	$86.27	0.31%	Add 129.51%	2,693,183	1,519,728
MCK	McKesson Corp	2023-03-31	Reduce	-0.55%	● 335.35 ($361.21) 386.05	$626.38	73.41%	Reduce -33.97%	642,849	-330,689
MDT	Medtronic PLC	2023-12-31	Add	+0.55%	● 69.43 ($76.21) 83.43	$86.27	13.20%	Add 30.89%	7,500,562	1,769,985
BKNG	Booking Holdings Inc	2023-09-30	Reduce	-0.55%	● 2632.69 ($3027.95) 3243.01	$5,223.15	72.50%	Reduce -41.06%	68,289	-47,580
HAL	Halliburton Co	2023-09-30	Reduce	-0.54%	● 33.01 ($39.17) 42.64	$31.88	-18.61%	Reduce -51.83%	3,567,846	-3,839,276
XOM	Exxon Mobil Corp	2022-12-31	Reduce	-0.51%	● 91.92 ($107.14) 114.18	$117.66	9.82%	Reduce -56.16%	905,060	-1,159,626
BAC	Bank of America Corp	2023-09-30	Add	+0.51%	● 27.17 ($29.59) 32.65	$47.77	61.44%	Add 28.73%	19,430,142	4,335,882
HPE	Hewlett Packard Enterprise Co	2023-09-30	Reduce	-0.50%	● 16.62 ($17.2) 18.07	$20.80	20.93%	Reduce -63.01%	4,091,921	-6,970,543
NOV	NOV Inc	2023-06-30	Add	+0.50%	● 14.07 ($16.33) 19.04	$15.99	-2.08%	Add 24.58%	36,790,723	7,259,286
NWL	Newell Brands Inc	2022-12-31	Add	+0.49%	● 12.58 ($13.66) 15.74	$9.56	-30.01%	Add 21.58%	47,361,679	8,407,044
CHTR	Charter Communications Inc	2023-09-30	Add	+0.48%	● 367.65 ($415.8) 455.73	$389.81	-6.25%	Add 21.01%	1,459,148	253,324
SKX	Skechers USA Inc	2023-12-31	Reduce	-0.48%	● 46.1 ($53.88) 63.81	$63.71	18.24%	Reduce -83.02%	469,476	-2,295,729
PFE	Pfizer Inc	2024-03-31	Add	+0.47%	● 25.89 ($27.75) 29.73	$25.83	-6.92%	Add 181.64%	7,670,445	4,947,000
CTSH	Cognizant Technology Solutions Corp	2024-06-30	Add	+0.46%	● 64.26 ($67.8) 71.84	$80.75	19.10%	Add 11.66%	18,609,898	1,943,127
NOV	NOV Inc	2022-12-31	Reduce	-0.46%	● 17.15 ($20.99) 23.94	$15.99	-23.82%	Reduce -16.29%	29,568,913	-5,752,565
PVH	PVH Corp	2024-03-31	Reduce	-0.46%	● 116.69 ($127.98) 140.61	$106.88	-16.49%	Reduce -15.86%	5,339,437	-1,006,231
TEX	Terex Corp	2023-09-30	Reduce	-0.45%	● 55.17 ($59.6) 65.38	$54.27	-8.94%	Reduce -79.75%	445,047	-1,752,562
SSNC	SS&C Technologies Holdings Inc	2022-12-31	Add	+0.45%	● 46.46 ($50.68) 54.12	$77.36	52.64%	Add 18.22%	12,635,958	1,947,334
BKNG	Booking Holdings Inc	2022-12-31	Add	+0.45%	● 1634.61 ($1898.11) 2085.44	$5,223.15	175.18%	Add 47.71%	155,403	50,193
SKX	Skechers USA Inc	2023-06-30	Reduce	-0.45%	● 46.17 ($51.13) 54.74	$63.71	24.60%	Reduce -35.73%	3,982,377	-2,213,781
WAB	Westinghouse Air Brake Technologies Corp	2022-12-31	Reduce	-0.43%	● 83.98 ($95.58) 103.41	$200.04	109.29%	Reduce -12.02%	7,803,373	-1,066,300
HUM	Humana Inc	2024-03-31	Add	+0.43%	● 337.92 ($379.01) 470.1	$296.68	-21.72%	Add 36975.79%	362,972	361,993
GIL	Gildan Activewear Inc	2024-06-30	Reduce	-0.43%	● 32.64 ($36.17) 38.35	$49.56	37.02%	Reduce -70.9%	1,380,406	-3,363,525
COF	Capital One Financial Corp	2023-03-31	Add	+0.42%	● 89.71 ($104.67) 121.82	$191.29	82.76%	Add 17.09%	6,993,002	1,020,747
AIG	American International Group Inc	2023-06-30	Reduce	-0.42%	● 49.87 ($53.64) 57.54	$77.14	43.81%	Reduce -20.51%	7,567,761	-1,952,495
MDT	Medtronic PLC	2023-03-31	New Buy	+0.41%	● 76.72 ($81.5) 87.58	$86.27	5.85%	New holding	1,173,455	1,173,455
NOV	NOV Inc	2024-09-30	Add	+0.41%	● 15.85 ($17.76) 20.82	$15.99	-9.97%	Add 22.32%	43,027,106	7,851,220
MGA	Magna International Inc	2023-06-30	Add	+0.40%	● 48.36 ($53.03) 56.99	$44.95	-15.24%	Add 36.34%	6,201,580	1,653,111
TSN	Tyson Foods Inc	2024-06-30	Add	+0.39%	● 53.86 ($58.46) 62.02	$64.45	10.25%	Add 18.38%	12,489,564	1,939,508
DOX	Amdocs Ltd	2024-06-30	Add	+0.39%	● 74.9 ($82.19) 90.23	$87.18	6.07%	Add 33.21%	5,667,603	1,412,826
KSPI	Kaspi.kz JSC	2024-06-30	New Buy	+0.39%	● 111.23 ($122.58) 135.92	$108.74	-11.29%	New holding	867,970	867,970
LEA	Lear Corp	2024-06-30	Add	+0.38%	● 113.66 ($127.98) 144.37	$97.25	-24.01%	Add 15.16%	7,187,890	946,109
TCOM	Trip.com Group Ltd	2023-09-30	Reduce	-0.38%	● 33.72 ($37.62) 41.36	$63.80	69.59%	Reduce -38.5%	4,042,319	-2,530,990
GEHC	GE HealthCare Technologies Inc	2023-06-30	Reduce	-0.37%	● 74.92 ($79.83) 87.79	$83.00	3.97%	Reduce -29.03%	2,573,162	-1,052,693
LDOS	Leidos Holdings Inc	2023-09-30	Add	+0.37%	● 88.03 ($94.11) 99.98	$163.97	74.23%	Add 320.05%	1,246,768	949,955
SHEL	Shell PLC	2023-06-30	Add	+0.36%	● 56 ($59.97) 62.07	$64.91	8.24%	Add 56.54%	3,878,156	1,400,724
DIS	The Walt Disney Co	2023-09-30	New Buy	+0.36%	● 79.9 ($85.41) 91.76	$117.60	37.69%	New holding	1,035,416	1,035,416
FTI	TechnipFMC PLC	2023-03-31	Reduce	-0.35%	● 11.55 ($13.55) 15.67	$31.01	128.86%	Reduce -86.28%	1,011,773	-6,362,955
BKNG	Booking Holdings Inc	2023-06-30	Reduce	-0.35%	● 2508.77 ($2641.83) 2780.98	$5,223.15	97.71%	Reduce -20.84%	115,869	-30,504
GAP	Gap Inc	2023-12-31	Reduce	-0.35%	● 10 ($16.12) 21.93	$24.22	50.25%	Reduce -57.73%	5,577,338	-7,616,488
ZTO	ZTO Express (Cayman) Inc	2024-03-31	Add	+0.34%	● 16.08 ($19.13) 22.61	$19.21	0.42%	Add 437.89%	5,889,745	4,794,773
SSNC	SS&C Technologies Holdings Inc	2024-09-30	Reduce	-0.34%	● 61.42 ($70.9) 76.46	$77.36	9.11%	Reduce -10.87%	12,663,903	-1,545,202
DIS	The Walt Disney Co	2024-06-30	Reduce	-0.33%	● 99.29 ($107.65) 122.82	$117.60	9.24%	Reduce -74.05%	271,489	-774,854

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