Richard Pzena - Pzena Investment Management
As of Q3 2026, Richard Pzena reported 159 long-equity positions worth $34.1B in aggregate.
Copy-investor backtest
- Latest quarter
- +0.34%
- 1-year
- +19.53%
- 3-year
- +36.82%
- 5-year
- +49.86%
- 3-year vs S&P 500
- -32.32%
- 5-year vs S&P 500
- -20.93%
- 5-year top 5
- +49.98%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Sells
These are the positions the manager reduced or sold out of this quarter, showing where they pulled money back. The quarter shown is Q3 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| MT | ARCELORMITTAL SA LUXEMBOURG | Sold | — | 0 | $0 | — | - |
| ADSK | AUTODESK INC | Sold | — | 0 | $0 | — | - |
| CSCO | CISCO SYS INC | Sold | — | 0 | $0 | — | - |
| EXPE | EXPEDIA GROUP INC | Sold | — | 0 | $0 | — | - |
| XOM | EXXON MOBIL CORP | Sold | — | 0 | $0 | — | - |
| GEV | GE VERNOVA INC | Sold | — | 0 | $0 | — | - |
| HALO | HALOZYME THERAPEUTICS INC | Sold | — | 0 | $0 | — | - |
| MRK | MERCK & CO INC | Sold | — | 0 | $0 | — | - |
| CRM | SALESFORCE INC | Sold | — | 0 | $0 | — | - |
| TOST | TOAST INC | Sold | — | 0 | $0 | — | - |
| WBS | WEBSTER FINL CORP | Sold | — | 0 | $0 | — | - |
| ZBRA | ZEBRA TECHNOLOGIES CORPORATI | Sold | — | 0 | $0 | — | - |
| UBS | UBS GROUP AG | Reduce -32.2% | 1.81% | 15,322,845 | $617.36M | $40.29 | $47.18 - $55.98(0%)$49.72 -> $48.13 |
| HUM | HUMANA INC | Reduce -17.1% | 4.08% | 3,649,346 | $1.39B | $381.57 | $353.69 - $428.88(37%)$409.42 -> $381.57 |
| MGA | MAGNA INTL INC | Reduce -11.1% | 5.65% | 21,234,280 | $1.93B | $90.66 | $61.72 - $73.22(100%)$63.07 -> $63.67 |
| SWKS | SKYWORKS SOLUTIONS INC | Reduce -13.8% | 3.45% | 13,770,090 | $1.18B | $85.48 | $55.43 - $92.80(80%)$65.93 -> $85.48 |
| BMY | BRISTOL-MYERS SQUIBB CO | Reduce -16.2% | 2.61% | 14,244,839 | $888.88M | $62.40 | $56.30 - $68.64(49%)$56.44 -> $62.40 |
| AVT | AVNET INC | Reduce -44.8% | 0.50% | 1,721,142 | $172.03M | $99.95 | $80.13 - $104.58(81%)$87.28 -> $99.95 |
| CVS | CVS HEALTH CORP | Reduce -12.5% | 2.59% | 10,296,903 | $882.34M | $85.69 | $84.50 - $110.68(5%)$104.81 -> $85.69 |
| CTSH | COGNIZANT TECHNOLOGY SOLUTIO | Reduce -6.5% | 4.18% | 24,815,635 | $1.43B | $57.44 | $39.29 - $65.42(69%)$41.07 -> $57.44 |
| BAX | BAXTER INTL INC | Reduce -4.4% | 4.39% | 62,425,636 | $1.5B | $24.00 | $21.16 - $30.00(32%)$21.69 -> $24.00 |
| BAC | BANK OF AMER CORP | Reduce -19.9% | 0.81% | 5,057,710 | $275.29M | $54.43 | $54.38 - $65.22(0%)$58.36 -> $54.43 |
| BAP | CREDICORP LTD | Reduce -20.4% | 0.74% | 665,785 | $252.91M | $379.87 | $364.49 - $413.25(32%)$387.00 -> $379.87 |
| DG | DOLLAR GEN CORP | Reduce -5.2% | 3.40% | 9,695,783 | $1.16B | $119.58 | $113.20 - $134.13(30%)$115.20 -> $119.58 |
| MET | METLIFE INC | Reduce -5.0% | 2.92% | 10,571,702 | $995.43M | $94.16 | $85.01 - $100.93(57%)$87.20 -> $94.16 |
| C | CITIGROUP INC | Reduce -7.0% | 1.96% | 5,162,294 | $668.41M | $129.48 | $126.78 - $144.71(15%)$140.13 -> $129.48 |
| NOK | NOKIA CORP | Reduce -99.0% | 0.00% | 48,205 | $488.8K | $10.14 | $8.37 - $13.13(37%)$12.91 -> $10.14 |
| VREX | VAREX IMAGING CORP | Reduce -58.9% | 0.10% | 1,785,166 | $32.94M | $18.45 | $10.01 - $18.63(98%)$10.68 -> $18.45 |
| MS | MORGAN STANLEY | Reduce -54.0% | 0.12% | 208,893 | $39.29M | $188.08 | $188.07 - $232.25(0%)$211.86 -> $188.08 |
| WDAY | WORKDAY INC | Reduce -12.1% | 0.97% | 1,733,006 | $330.07M | $190.46 | $126.08 - $227.49(63%)$130.27 -> $190.46 |
| ZTO | ZTO EXPRESS CAYMAN INC | Reduce -23.9% | 0.32% | 5,571,479 | $108.2M | $19.42 | $18.95 - $24.78(8%)$22.78 -> $19.42 |
| GOOGL | ALPHABET INC | Reduce -54.1% | 0.08% | 78,539 | $27.02M | $344.08 | $314.90 - $384.48(42%)$361.21 -> $344.08 |
| DAL | DELTA AIR LINES INC | Reduce -14.2% | 0.55% | 2,248,190 | $187.63M | $83.46 | $75.99 - $95.68(38%)$93.06 -> $83.46 |
| RHI | ROBERT HALF INC. | Reduce -13.1% | 0.58% | 5,405,276 | $198.64M | $36.75 | $31.37 - $46.70(35%)$32.97 -> $36.75 |
| KSPI | KASPI KZ JSC | Reduce -9.2% | 0.77% | 2,788,694 | $262.3M | $94.06 | $84.46 - $109.94(38%)$88.34 -> $94.06 |
| GPN | GLOBAL PMTS INC | Reduce -2.7% | 2.73% | 11,377,172 | $929.17M | $81.67 | $71.45 - $95.88(42%)$75.05 -> $81.67 |
| SHG | SHINHAN FINANCIAL GROUP CO L | Reduce -48.5% | 0.08% | 344,589 | $26.76M | $77.67 | $61.59 - $85.57(67%)$62.52 -> $77.67 |
| MYE | MYERS INDS INC | Reduce -94.2% | 0.00% | 45,178 | $1.39M | $30.77 | $29.14 - $37.45(20%)$34.08 -> $30.77 |
| COF | CAPITAL ONE FINL CORP | Reduce -2.3% | 2.54% | 4,487,376 | $866.38M | $193.07 | $191.38 - $228.14(5%)$204.82 -> $193.07 |
| CNO | CNO FINL GROUP INC | Reduce -15.5% | 0.32% | 2,064,300 | $109.22M | $52.91 | $51.05 - $57.59(28%)$52.07 -> $52.91 |
| MSM | MSC INDL DIRECT INC | Reduce -37.1% | 0.09% | 235,135 | $29.09M | $123.72 | $115.73 - $130.46(54%)$123.34 -> $123.72 |
| DOW | DOW HLDGS INC | Reduce -4.8% | 0.96% | 11,904,775 | $327.86M | $27.54 | $26.80 - $33.40(11%)$27.02 -> $27.54 |
| TEL | TE CONNECTIVITY PLC | Reduce -12.7% | 0.30% | 485,368 | $102.45M | $211.08 | $190.27 - $221.98(66%)$201.44 -> $211.08 |
| SPB | SPECTRUM BRANDS HOLDINGS INC | Reduce -7.3% | 0.52% | 2,244,718 | $178.48M | $79.51 | $79.32 - $99.06(1%)$86.15 -> $79.51 |
| UVSP | UNIVEST FINANCIAL CORPORATIO | Reduce -39.1% | 0.06% | 508,266 | $20.83M | $40.98 | $40.60 - $45.46(8%)$45.15 -> $40.98 |
| WCC | WESCO INTL INC | Reduce -46.1% | 0.04% | 38,551 | $13.86M | $359.59 | $299.64 - $385.37(70%)$320.71 -> $359.59 |
| PVH | PVH CORPORATION | Reduce -2.6% | 1.27% | 5,829,334 | $431.66M | $74.05 | $67.62 - $91.13(27%)$75.80 -> $74.05 |
| LEA | LEAR CORP | Reduce -1.5% | 2.26% | 6,540,816 | $772.01M | $118.03 | $117.58 - $150.00(1%)$130.39 -> $118.03 |
| SCSC | SCANSOURCE INC | Reduce -15.2% | 0.16% | 941,150 | $55.27M | $58.73 | $49.52 - $66.78(53%)$52.36 -> $58.73 |
| VOYA | VOYA FINANCIAL INC | Reduce -2.9% | 0.95% | 3,428,602 | $323.93M | $94.48 | $90.57 - $105.64(26%)$92.71 -> $94.48 |
| CI | THE CIGNA GROUP | Reduce -6.2% | 0.42% | 527,459 | $143.38M | $271.83 | $263.11 - $305.44(21%)$277.07 -> $271.83 |
| ARW | ARROW ELECTRS INC | Reduce -29.1% | 0.06% | 88,762 | $20.15M | $227.00 | $189.86 - $233.94(84%)$209.61 -> $227.00 |
| NWL | NEWELL BRANDS INC | Reduce -2.6% | 0.72% | 46,720,744 | $246.69M | $5.28 | $4.93 - $7.13(16%)$5.89 -> $5.28 |
| SHEL | SHELL PLC | Reduce -2.6% | 0.70% | 2,513,507 | $238.91M | $95.05 | $76.26 - $99.16(82%)$76.57 -> $95.05 |
| NOV | NOV INC | Reduce -0.9% | 1.98% | 36,041,785 | $675.06M | $18.73 | $17.73 - $21.93(24%)$18.10 -> $18.73 |
| KOP | KOPPERS HOLDINGS INC | Reduce -12.7% | 0.12% | 926,505 | $42.24M | $45.59 | $44.10 - $53.00(17%)$44.56 -> $45.59 |
| MDT | MEDTRONIC PLC | Reduce -2.2% | 0.78% | 3,078,785 | $265.67M | $86.29 | $78.60 - $95.41(46%)$79.20 -> $86.29 |
| BFH | BREAD FINANCIAL HOLDINGS INC | Reduce -18.5% | 0.08% | 266,929 | $26.09M | $97.75 | $91.13 - $114.53(28%)$105.37 -> $97.75 |
| ARCO | ARCOS DORADOS HLDGS INC | Reduce -6.4% | 0.21% | 10,112,751 | $72.31M | $7.15 | $7.07 - $8.64(5%)$8.04 -> $7.15 |
| MHK | MOHAWK INDS INC | Reduce -3.3% | 0.40% | 1,105,087 | $137.83M | $124.72 | $105.52 - $140.30(55%)$119.86 -> $124.72 |
| TGT | TARGET CORP | Reduce -7.0% | 0.16% | 347,376 | $54.43M | $156.69 | $124.70 - $170.75(69%)$130.29 -> $156.69 |
| PPG | PPG INDS INC | Reduce -0.4% | 2.38% | 7,773,638 | $811.02M | $104.33 | $103.70 - $125.39(3%)$122.61 -> $104.33 |
| KNX | KNIGHT-SWIFT TRANSN HLDGS IN | Reduce -80.7% | 0.00% | 11,478 | $729.89K | $63.59 | $63.12 - $80.01(3%)$77.37 -> $63.59 |
| TFX | TELEFLEX INCORPORATED | Reduce -3.9% | 0.21% | 579,741 | $72.49M | $125.04 | $118.31 - $145.00(25%)$129.75 -> $125.04 |
| MLKN | MILLERKNOLL INC | Reduce -4.3% | 0.17% | 2,901,715 | $57.05M | $19.66 | $19.11 - $24.71(10%)$21.18 -> $19.66 |
| ONB | OLD NATL BANCORP IND | Reduce -3.5% | 0.20% | 2,743,919 | $67.61M | $24.64 | $24.59 - $27.36(2%)$26.23 -> $24.64 |
| ST | SENSATA TECHNOLOGIES HLDG PL | Reduce -2.5% | 0.27% | 2,194,533 | $91.2M | $41.56 | $40.25 - $51.00(12%)$46.55 -> $41.56 |
| KFY | KORN FERRY | Reduce -3.8% | 0.18% | 834,540 | $59.74M | $71.59 | $67.16 - $87.51(22%)$67.73 -> $71.59 |
| TBI | TRUEBLUE INC | Reduce -7.9% | 0.08% | 2,846,983 | $26.19M | $9.20 | $6.74 - $11.03(57%)$7.22 -> $9.20 |
| WSFS | WSFS FINL CORP | Reduce -2.7% | 0.19% | 864,585 | $65.34M | $75.57 | $74.78 - $82.94(10%)$78.47 -> $75.57 |
| DNOW | DNOW INC | Reduce -4.0% | 0.13% | 2,777,216 | $43.05M | $15.50 | $12.43 - $17.20(64%)$12.80 -> $15.50 |
| USNA | USANA HEALTH SCIENCES INC | Reduce -7.6% | 0.05% | 1,113,983 | $16.12M | $14.47 | $12.57 - $23.59(17%)$21.72 -> $14.47 |
| COLB | COLUMBIA BKG SYS INC | Reduce -2.1% | 0.17% | 2,084,555 | $59.62M | $28.60 | $28.48 - $33.68(2%)$32.51 -> $28.60 |
| HVT | HAVERTY FURNITURE COS INC | Reduce -2.8% | 0.12% | 1,520,237 | $42.06M | $27.67 | $24.12 - $29.83(62%)$25.44 -> $27.67 |
| GCO | GENESCO INC | Reduce -3.2% | 0.11% | 1,063,773 | $36.32M | $34.14 | $32.05 - $40.49(25%)$33.90 -> $34.14 |
| HSIC | SCHEIN HENRY INC | Reduce -1.6% | 0.21% | 846,580 | $71.09M | $83.97 | $82.34 - $92.18(17%)$84.52 -> $83.97 |
| ASB | ASSOCIATED BANC-CORP | Reduce -2.1% | 0.16% | 1,949,305 | $55.85M | $28.65 | $28.55 - $32.46(2%)$31.22 -> $28.65 |
| MMI | MARCUS & MILLICHAP INC | Reduce -1.8% | 0.18% | 2,101,884 | $59.8M | $28.45 | $28.22 - $33.55(4%)$31.70 -> $28.45 |
| HUN | HUNTSMAN CORP | Reduce -2.4% | 0.12% | 5,040,624 | $42.34M | $8.40 | $8.30 - $13.39(2%)$10.55 -> $8.40 |
| SOLV | SOLVENTUM CORP | Reduce -2.5% | 0.11% | 407,249 | $35.9M | $88.15 | $74.76 - $94.16(69%)$78.35 -> $88.15 |
| HELE | HELEN OF TROY LTD | Reduce -4.5% | 0.05% | 646,418 | $17.72M | $27.41 | $25.13 - $30.57(42%)$29.34 -> $27.41 |
| PLOW | DOUGLAS DYNAMICS INC | Reduce -1.3% | 0.16% | 1,366,141 | $53.62M | $39.25 | $38.68 - $54.10(4%)$52.27 -> $39.25 |
| BIDU | BAIDU INC | Reduce -19.2% | 0.01% | 33,514 | $2.91M | $86.87 | $85.83 - $119.88(3%)$117.94 -> $86.87 |
| WGO | WINNEBAGO INDS INC | Reduce -1.4% | 0.13% | 1,685,995 | $44.46M | $26.37 | $26.25 - $33.19(2%)$31.06 -> $26.37 |
| OSK | OSHKOSH CORP | Reduce -1.1% | 0.16% | 411,044 | $52.95M | $128.82 | $127.84 - $160.68(3%)$144.72 -> $128.82 |
| ADNT | ADIENT PLC | Reduce -0.9% | 0.18% | 3,736,939 | $62.93M | $16.84 | $16.72 - $22.45(2%)$18.14 -> $16.84 |
| NVST | ENVISTA HOLDINGS CORPORATION | Reduce -1.8% | 0.08% | 1,136,001 | $26.66M | $23.47 | $23.11 - $29.00(6%)$27.17 -> $23.47 |
| HOFT | HOOKER FURNISHINGS CORPORATI | Reduce -2.4% | 0.06% | 1,505,752 | $19.54M | $12.98 | $12.20 - $18.09(13%)$17.68 -> $12.98 |
| TTE | TOTALENERGIES SE | Reduce -27.3% | 0.00% | 16,082 | $1.22M | $75.70 | $74.78 - $93.46(5%)$74.80 -> $85.50 |
| FITB | FIFTH THIRD BANCORP | Reduce -0.6% | 0.23% | 1,576,035 | $79.72M | $50.58 | $50.44 - $59.50(2%)$57.49 -> $50.58 |
| OEC | ORION S.A. | Reduce -1.6% | 0.08% | 4,695,354 | $26.39M | $5.62 | $5.21 - $8.24(14%)$6.35 -> $5.62 |
| DRH | DIAMONDROCK HOSPITALITY CO | Reduce -1.2% | 0.10% | 2,795,847 | $34.56M | $12.36 | $11.57 - $13.79(36%)$11.93 -> $12.36 |
| EQNR | EQUINOR ASA | Reduce -24.2% | 0.00% | 28,952 | $1.2M | $41.60 | $31.13 - $45.84(71%)$31.21 -> $41.60 |
| AEBI | AEBI SCHMIDT HLDG AG | Reduce -0.7% | 0.13% | 4,287,385 | $45.36M | $10.58 | $10.55 - $14.95(1%)$12.34 -> $10.58 |
| MBUU | MALIBU BOATS INC | Reduce -0.7% | 0.12% | 1,781,732 | $40.84M | $22.92 | $22.64 - $30.42(4%)$25.64 -> $22.92 |
| BABA | ALIBABA GROUP HLDG LTD | Reduce -7.4% | 0.01% | 24,770 | $2.66M | $107.54 | $95.19 - $132.57(33%)$97.99 -> $107.54 |
| KEY | KEYCORP | Reduce -0.6% | 0.09% | 1,587,711 | $31.87M | $20.07 | $20.02 - $24.07(1%)$23.25 -> $20.07 |
| HAL | HALLIBURTON CO | Reduce -0.1% | 0.37% | 3,921,006 | $124.69M | $31.80 | $30.98 - $38.06(12%)$33.01 -> $31.80 |
| CNXC | CONCENTRIX CORP | Reduce -0.2% | 0.25% | 3,408,338 | $85.04M | $24.95 | $20.32 - $33.84(34%)$24.41 -> $24.95 |
| GPC | GENUINE PARTS CO | Reduce -0.1% | 0.22% | 591,160 | $74.33M | $125.74 | $109.50 - $139.89(53%)$117.40 -> $125.74 |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Reduce -0.7% | 0.01% | 4,025 | $1.84M | $456.19 | $372.72 - $468.51(87%)$444.23 -> $456.19 |
| QRVO | QORVO INC | Reduce -0.5% | 0.00% | 3,031 | $346.99K | $114.48 | $81.39 - $121.09(83%)$90.88 -> $114.48 |