Richard Pzena - Pzena Investment Management
As of Q2 2026, Richard Pzena reported 161 long-equity positions worth $34.07B in aggregate.
Copy-investor backtest
- Latest quarter
- +12.78%
- 1-year
- +19.09%
- 3-year
- +35.44%
- 5-year
- +47.55%
- 3-year vs S&P 500
- -37.61%
- 5-year vs S&P 500
- -27.19%
- 5-year top 5
- +61.08%
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 Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| NOK | NOKIA CORP | Reduce -92.1% | 0.20% | 5,010,906 | $66.54M | $13.28 | $8.07 - $17.45(56%)$8.27 -> $13.28 |
| HUM | HUMANA INC | Reduce -19.5% | 5.13% | 4,403,136 | $1.75B | $397.22 | $172.04 - $398.80(99%)$176.95 -> $397.01 |
| C | CITIGROUP INC | Reduce -32.1% | 2.28% | 5,548,789 | $776.61M | $139.96 | $111.75 - $147.96(78%)$115.30 -> $139.94 |
| AMWD | AMERICAN WOODMARK CORP | Sold | — | 0 | $0 | — | - |
| CRUS | CIRRUS LOGIC INC | Sold | — | 0 | $0 | — | - |
| HIG | HARTFORD INSURANCE GROUP INC | Sold | — | 0 | $0 | — | - |
| HOLX | HOLOGIC INC | Sold | — | 0 | $0 | — | - |
| INTU | INTUIT | Sold | — | 0 | $0 | — | - |
| JNJ | JOHNSON & JOHNSON | Sold | — | 0 | $0 | — | - |
| TMUS | T-MOBILE US INC | Sold | — | 0 | $0 | — | - |
| TRS | TRIMAS CORP | Sold | — | 0 | $0 | — | - |
| WAB | WABTEC | Sold | — | 0 | $0 | — | - |
| AVT | AVNET INC | Reduce -45.2% | 0.81% | 3,120,395 | $277.15M | $88.82 | $61.10 - $95.26(81%)$62.91 -> $88.80 |
| CVS | CVS HEALTH CORP | Reduce -14.6% | 3.57% | 11,769,536 | $1.22B | $103.45 | $71.82 - $106.15(92%)$72.49 -> $103.44 |
| DOW | DOW HLDGS INC | Reduce -34.0% | 1.00% | 12,507,011 | $342.19M | $27.36 | $27.14 - $42.37(1%)$40.69 -> $27.36 |
| UBS | UBS GROUP AG | Reduce -14.8% | 2.66% | 22,604,129 | $905.52M | $40.06 | $38.67 - $51.24(11%)$39.74 -> $49.56 |
| MGA | MAGNA INTL INC | Reduce -5.7% | 6.54% | 23,882,824 | $2.23B | $93.26 | $53.46 - $69.19(100%)$56.52 -> $65.66 |
| KNX | KNIGHT-SWIFT TRANSN HLDGS IN | Reduce -95.3% | 0.01% | 59,406 | $4.63M | $77.87 | $56.38 - $82.86(81%)$57.58 -> $77.87 |
| ST | SENSATA TECHNOLOGIES HLDG PL | Reduce -35.3% | 0.32% | 2,251,907 | $107.51M | $47.74 | $33.59 - $53.89(70%)$35.18 -> $47.74 |
| SHEL | SHELL PLC | Reduce -19.3% | 0.59% | 2,581,244 | $200.15M | $77.54 | $76.39 - $94.66(6%)$92.03 -> $77.54 |
| BFH | BREAD FINANCIAL HOLDINGS INC | Reduce -46.6% | 0.10% | 327,448 | $35.48M | $108.35 | $70.24 - $109.70(97%)$73.57 -> $108.44 |
| WBS | WEBSTER FINL CORP | Reduce -99.2% | 0.00% | 3,189 | $243.7K | $76.42 | $68.99 - $76.43(100%)$70.25 -> $76.42 |
| BAP | CREDICORP LTD | Reduce -8.3% | 0.96% | 836,569 | $325.91M | $389.58 | $299.00 - $398.51(91%)$341.26 -> $389.37 |
| NOV | NOV INC | Reduce -3.1% | 1.98% | 36,376,087 | $674.78M | $18.55 | $17.99 - $21.55(16%)$18.67 -> $18.55 |
| ARW | ARROW ELECTRS INC | Reduce -40.7% | 0.08% | 125,168 | $26.71M | $213.41 | $142.37 - $237.33(75%)$146.63 -> $213.39 |
| MYE | MYERS INDS INC | Reduce -39.2% | 0.08% | 781,014 | $27.58M | $35.31 | $19.61 - $35.73(97%)$21.35 -> $35.31 |
| DAL | DELTA AIR LINES INC | Reduce -6.7% | 0.72% | 2,618,707 | $245.27M | $93.66 | $64.17 - $95.14(95%)$67.60 -> $93.65 |
| LEA | LEAR CORP | Reduce -1.8% | 2.61% | 6,638,413 | $889.95M | $134.06 | $116.03 - $150.33(53%)$122.06 -> $134.06 |
| MET | METLIFE INC | Reduce -1.5% | 2.76% | 11,130,983 | $941.79M | $84.61 | $69.50 - $89.62(75%)$71.17 -> $84.61 |
| WCC | WESCO INTL INC | Reduce -37.0% | 0.07% | 71,494 | $24.7M | $345.43 | $267.10 - $377.90(71%)$282.46 -> $345.43 |
| VOYA | VOYA FINANCIAL INC | Reduce -3.9% | 0.94% | 3,529,646 | $319.54M | $90.53 | $64.59 - $93.05(91%)$66.97 -> $90.53 |
| TFX | TELEFLEX INCORPORATED | Reduce -13.7% | 0.22% | 603,206 | $76.46M | $126.76 | $114.24 - $139.67(49%)$118.42 -> $126.76 |
| NVST | ENVISTA HOLDINGS CORPORATION | Reduce -27.9% | 0.09% | 1,157,273 | $30.49M | $26.35 | $22.36 - $29.52(56%)$25.90 -> $26.35 |
| PLOW | DOUGLAS DYNAMICS INC | Reduce -13.1% | 0.22% | 1,384,680 | $74.7M | $53.95 | $41.45 - $55.00(92%)$42.86 -> $53.95 |
| OLN | OLIN CORP | Reduce -12.2% | 0.23% | 3,890,204 | $77.1M | $19.82 | $19.58 - $30.43(2%)$29.24 -> $19.82 |
| TEL | TE CONNECTIVITY PLC | Reduce -8.0% | 0.33% | 555,637 | $112.02M | $201.61 | $193.75 - $252.56(13%)$211.67 -> $201.61 |
| SWKS | SKYWORKS SOLUTIONS INC | Reduce -0.8% | 3.18% | 15,973,040 | $1.08B | $67.80 | $52.32 - $85.18(47%)$53.22 -> $67.80 |
| MSM | MSC INDL DIRECT INC | Reduce -16.0% | 0.13% | 373,664 | $44.45M | $118.95 | $87.48 - $121.64(92%)$91.55 -> $118.95 |
| TSN | TYSON FOODS INC | Reduce -0.8% | 2.86% | 17,016,651 | $974.2M | $57.25 | $55.22 - $69.48(14%)$64.30 -> $57.25 |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Reduce -78.7% | 0.01% | 4,054 | $1.94M | $477.57 | $326.80 - $479.00(99%)$341.49 -> $477.57 |
| HUN | HUNTSMAN CORP | Reduce -11.3% | 0.16% | 5,161,672 | $54.82M | $10.62 | $10.40 - $16.08(4%)$13.02 -> $10.62 |
| KOP | KOPPERS HOLDINGS INC | Reduce -12.3% | 0.14% | 1,061,285 | $47.65M | $44.90 | $35.62 - $46.40(86%)$37.65 -> $44.90 |
| BAC | BANK OF AMER CORP | Reduce -1.8% | 1.06% | 6,310,363 | $359.56M | $56.98 | $48.16 - $59.20(80%)$49.27 -> $56.98 |
| BMY | BRISTOL-MYERS SQUIBB CO | Reduce -0.5% | 2.88% | 17,007,044 | $979.95M | $57.62 | $53.74 - $62.23(46%)$61.73 -> $57.60 |
| HAL | HALLIBURTON CO | Reduce -3.5% | 0.39% | 3,925,702 | $133.28M | $33.95 | $33.54 - $43.59(4%)$38.00 -> $33.95 |
| MS | MORGAN STANLEY | Reduce -4.6% | 0.28% | 454,492 | $95.01M | $209.04 | $160.57 - $230.35(69%)$166.17 -> $209.04 |
| CI | THE CIGNA GROUP | Reduce -2.8% | 0.45% | 562,036 | $154.94M | $275.68 | $264.90 - $303.33(28%)$267.32 -> $275.69 |
| XOM | EXXON MOBIL CORP | Reduce -4.5% | 0.24% | 589,449 | $80.59M | $136.72 | $134.95 - $168.00(5%)$160.78 -> $136.72 |
| OSK | OSHKOSH CORP | Reduce -5.3% | 0.19% | 415,766 | $63.81M | $153.48 | $116.77 - $159.84(85%)$149.05 -> $153.48 |
| CSCO | CISCO SYS INC | Reduce -2.1% | 0.44% | 1,281,329 | $150.5M | $117.46 | $76.54 - $130.37(76%)$77.93 -> $117.46 |
| ZTO | ZTO EXPRESS CAYMAN INC | Reduce -1.9% | 0.48% | 7,322,331 | $163.87M | $22.38 | $21.47 - $25.97(20%)$24.80 -> $22.38 |
| ABEV | AMBEV SA | Reduce -20.7% | 0.03% | 3,739,889 | $11.74M | $3.14 | $2.84 - $3.45(49%)$2.97 -> $3.13 |
| FITB | FIFTH THIRD BANCORP | Reduce -3.1% | 0.26% | 1,584,757 | $89.33M | $56.37 | $45.66 - $56.94(95%)$46.82 -> $56.36 |
| DNOW | DNOW INC | Reduce -6.5% | 0.11% | 2,893,482 | $37.53M | $12.97 | $11.51 - $14.16(55%)$11.84 -> $12.98 |
| HELE | HELEN OF TROY LTD | Reduce -11.1% | 0.06% | 676,577 | $19.67M | $29.07 | $14.05 - $30.68(90%)$14.49 -> $29.07 |
| HSIC | SCHEIN HENRY INC | Reduce -3.0% | 0.21% | 860,733 | $71.89M | $83.52 | $68.70 - $85.19(90%)$73.04 -> $83.52 |
| PBR-A | PETROLEO BRASILEIRO S A | Reduce -73.0% | 0.00% | 53,138 | $777.94K | $14.64 | $14.51 - $20.05(2%)$18.28 -> $14.64 |
| VALE | VALE S A | Reduce -68.7% | 0.00% | 59,077 | $888.52K | $15.04 | $14.76 - $17.94(9%)$16.05 -> $15.04 |
| SOLV | SOLVENTUM CORP | Reduce -5.0% | 0.09% | 417,770 | $32.23M | $77.15 | $62.38 - $83.20(71%)$64.35 -> $77.15 |
| CNO | CNO FINL GROUP INC | Reduce -1.2% | 0.37% | 2,441,665 | $124.48M | $50.98 | $40.37 - $53.03(84%)$41.08 -> $51.01 |
| KEY | KEYCORP | Reduce -3.7% | 0.11% | 1,597,019 | $36.81M | $23.05 | $19.82 - $23.71(83%)$20.34 -> $23.05 |
| FMS | FRESENIUS MEDICAL CARE AG | Reduce -0.4% | 0.99% | 14,992,081 | $338.97M | $22.61 | $20.02 - $24.00(65%)$22.35 -> $22.62 |
| SHG | SHINHAN FINANCIAL GROUP CO L | Reduce -3.1% | 0.12% | 669,474 | $42.34M | $63.25 | $59.78 - $71.45(30%)$62.50 -> $63.25 |
| CIG | CIA ENERGETICA DE MINAS GERA | Reduce -58.0% | 0.00% | 453,957 | $953.31K | $2.10 | $2.04 - $2.76(8%)$2.43 -> $2.10 |
| KB | KB FINL GROUP INC | Reduce -59.8% | 0.00% | 7,640 | $801.89K | $104.96 | $96.30 - $115.85(44%)$100.83 -> $104.96 |
| MHK | MOHAWK INDS INC | Reduce -0.9% | 0.41% | 1,142,841 | $138.66M | $121.33 | $92.99 - $123.02(94%)$99.45 -> $121.33 |
| ITUB | ITAU UNIBANCO HLDG S A | Reduce -64.4% | 0.00% | 80,241 | $655.57K | $8.17 | $7.42 - $9.57(35%)$8.49 -> $8.17 |
| JPM | JPMORGAN CHASE & CO | Reduce -0.9% | 0.32% | 334,094 | $109.36M | $327.33 | $288.72 - $343.45(71%)$295.38 -> $327.33 |
| BIDU | BAIDU INC | Reduce -14.9% | 0.01% | 41,474 | $4.74M | $114.29 | $100.32 - $152.37(27%)$111.90 -> $114.29 |
| MDT | MEDTRONIC PLC | Reduce -0.3% | 0.72% | 3,147,999 | $246.27M | $78.23 | $73.32 - $88.84(32%)$86.06 -> $78.23 |
| MT | ARCELORMITTAL SA LUXEMBOURG | Reduce -55.6% | 0.00% | 8,180 | $492.6K | $60.22 | $51.42 - $72.50(42%)$54.03 -> $60.22 |
| UVSP | UNIVEST FINANCIAL CORPORATIO | Reduce -0.9% | 0.11% | 834,628 | $36.51M | $43.75 | $34.21 - $44.78(90%)$34.82 -> $43.75 |
| BABA | ALIBABA GROUP HLDG LTD | Reduce -5.9% | 0.01% | 26,761 | $2.57M | $95.98 | $91.99 - $146.87(7%)$123.73 -> $96.00 |
| EQNR | EQUINOR ASA | Reduce -5.8% | 0.00% | 38,188 | $1.2M | $31.40 | $30.83 - $42.83(5%)$40.39 -> $31.39 |
| DRH | DIAMONDROCK HOSPITALITY CO | Reduce -0.2% | 0.10% | 2,829,560 | $34.46M | $12.18 | $9.25 - $12.54(89%)$9.36 -> $12.18 |
| HSBC | HSBC HLDGS PLC | Reduce -1.6% | 0.01% | 23,555 | $2.24M | $95.09 | $82.37 - $96.90(88%)$85.46 -> $95.08 |
| LDOS | LEIDOS HOLDINGS INC | Reduce -0.0% | 0.07% | 247,849 | $25.52M | $102.97 | $98.86 - $162.00(7%)$156.01 -> $102.97 |
| MSFT | MICROSOFT CORP | Reduce -0.9% | 0.00% | 755 | $281.63K | $373.02 | $349.20 - $466.32(20%)$369.37 -> $373.02 |
| TTE | TOTALENERGIES SE | Reduce -0.0% | 0.00% | 22,131 | $1.51M | $68.03 | $76.64 - $94.17(0%)$89.78 -> $77.76 |