Richard Pzena

Richard Pzena

Last Update: 2014-02-07

Number of Stocks: 130
Number of New Stocks: 8

Total Value: $17,135 Mil
Q/Q Turnover: 8%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Richard Pzena' s Profile & Performance

Profile

Mr. Pzena is Founder and Co-Chief Investment Officer of Pzena Investment Management, LLC, with more than $24 billion under management. Pzena started firm in 1995. He earned a BS summa cum laude and an MBA from the Wharton School of the University of Pennsylvania in 1979 and 1980, respectively.

Web Page:http://www.pzena.com/

Investing Philosophy

Pzena's philosophy is based on ranking companies from the cheapest to the most expensive on the basis of current share price to 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.

Total Holding History

Top Ranked Articles

Big Time Investors Who Made Some Big Time Mistakes – Example 1 Richard Pzena
It is important to remember that you never know what you don’t know. Give yourself a margin of safety and realize that you just may not be as smart as you think you are even if you have a long successful record. In other words you have to maintain some diversification in your portfolio. I like to take concentrated positions, but I also like to hold large amounts of cash because I know that there are better opportunities ahead. Read more...
Take a Memo - Staples Needed for Your Portfolio
Staples Inc. (SPLS) Read more...
Richard Pzena Publishes Quarterly Commentary; Top Holdings: XOM, NOC, JCP, TEL, OMC, ALL
Richard Pzena is a value investing oriented money manager. His firm, Pzena Invesment Management, is publically traded in NYSE under the symbol “PZN”. The firm went to public in late 2007. At today’s closing price or $7.24 per share, the market is valuing the firm at $68.75 million. Just to put you the right perspective, the company reported a $14.5 billion of Asset Under Management as of October 2010. Read more...
Richard Pzena’s Q3 Portfolio Updates: Top Reductions in AVP, CSC and PPG
Richard Pzena is the founder and co-chief investment officer of New York-based Pzena Investment Management. Recently, Pzena reported a total of 90 transactions to its third quarter portfolio update, 10 of which were reductions to current shareholdings and 11 of which were sells of all its shares in companies. The majority of the updates were increases in stakes; there were also seven new buys in the update. Read more...
Richard Pzena Buys Freddie Mac., Fannie Mae, Citigroup Inc., Sells Goldman Sachs Group Inc. The, AMR Corp., AutoZone Inc.
Richard Pzena ranks companies from the cheapest to the most expensive on the basis of current share price to normal long-term earnings power. These are the details of the buys and sells during the fourth quarter of 2007. Richard Pzena owns 131 stocks with a total value of $21.1 billion. Read more...
» More Richard Pzena Articles

Commentaries and Stories

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Rating: 5.0/5 (2 votes)

Gurus Are Divided Over Royal Dutch Shell, You Should Not Be
The climate change movement is the greatest long-term threat to the oil & gas industry. Hence, companies responsible for fossil fuel exploration, production and marketing have confronted the trend. However, not all strategies have been the same or meet with the same results. For example, Exxon Mobil (XOM) fiercely countered the movement, while competitors explored other options. Royal Dutch Shell (RDS.A) has taken the alternative road and adopted many projects that highlight the company’s compromise with the environment. Specifically, management announced the signature of an agreement with the UK government to move forward with the Peterhead Carbon Capture and Storage project. The approach seems to have paid increasing dividends in the public’s eyes, while some doubts have been casted over the strategy’s long-term viability. So, is Royal Dutch Shell expected to grow or stumble? More...

LONG, OIL, GAS, ENERGY, PETROL


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Rating: 5.0/5 (6 votes)

Pzena's Top Three Positions – Safe Bets?
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Pzena Investment Management LLC (PZN) from Richard S. Pzena, who is founder and co-chief investment officer. More...

LONG, FUNDS, PZENA


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Rating: 1.0/5 (1 vote)

Pzena Investment Management - Q4 2013 Commentary
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Rating: 1.3/5 (3 votes)

Value Investor Richard Pzena Discusses HP and Oracle
Richard Pzena thinks that at the current 7 times earnings Hewlett Packard (HPQ) represents pretty compelling value. More...

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Rating: 3.0/5 (4 votes)

British Petroleum Is Leaving the Macondo Disaster Behind
On 2010, British Petroleum (BP) was responsible for what was considered the largest accidental oil spill in the history of petroleum industry. On April 20, the company’s Deepwater Horizon oil rig, located in the Gulf of Mexico, exploded and sank. Eleven lives were lost, and a sea-floor oil gusher floated for 87 days. More...

LONG, ENERGY, PETROLEUM, PETROL, OIL, BP, CVX, XOM, SLB, APC, OXY, HES


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Rating: 4.0/5 (2 votes)

Did You Think About Investing in Energy? Warren Buffet v. Richard Pzena
Every once in a while industry giants behave similarly, while describing hard to ignore tendencies. Something of the like is happening in the energy industry, with weaker than expected performance on both sides of the Atlantic. ExxonMobil (XOM), Chevron (CVX) and Valero (VLO) in North America, and Royal Dutch Shell (RDS.A), BP (BP) and Total (TOT) in Europe, continue to miss the right path to steady growth. Similarly, gurus have reacted and began to right size their positions. More...

ENERGY, INTEGRATED, OIL, GAS


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Rating: 3.5/5 (2 votes)

Five Companies Cut - Pzena Investment Management Update
The changes in the third quarter portfolio of Pzena Investment Management LLC, led by Richard Pzena, include high-impact reductions of State Street Corp. (STT), Molson Coors Brewing (TAP), Allstate Corp. (ALL) and Hewlett-Packard Co. (HPQ), and the selling of Hospira Inc. (HSP), among many others. Here are Guru Richard Pzena’s trade details, as of Sept. 30, 2013. More...

ASSET MANAGEMENT, BEVERAGES – BREWERS, INSURANCE – PROPERTY & CASUALTY, COMPUTER SYSTEMS, DRUG MANUFACTURERS – SPECIALTY & GENERIC


  • Currently 3.50/5

Rating: 3.5/5 (6 votes)

Richard Pzena's Q3 Top Five Richard Pzena - Richard Pzena's Q3 Top Five
As of the second quarter Richard Pzena, the founder and co-chief investment officer at Pzena Investment Management, held 130 stocks (thirteen of which he bought during the quarter) valued at over $15.4 billion. More...

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Rating: 3.0/5 (2 votes)

Richard Pzena's Top 5 Quarter Three Buys Richard Pzena - Richard Pzena's Top 5 Quarter Three Buys
Richard Pzena, founder of the $23.4 billion investment management firm Pzena Investment Management, reported buying 13 new stocks in the third quarter. This brought his total holdings number to 130 in a portfolio valued at $15.5 billion, for quarter-over-quarter turnover of 10%. More...

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Rating: 5.0/5 (1 vote)

Richard Pzena Reduces Top Innovator TEL - AET, DLPH, NOC, Others
The third quarter portfolio of Pzena Investment Management LLC, led by Richard Pzena, shows 130 stocks, 13 of them new, and a total value at $15.47 billion. The quarter-over-quarter turnover is 10%. The portfolio is weighted with financial services at 34.3%, consumer cyclical at 11.8% and energy at 8.4%. Guru Richard Pzena has averaged a return of 18.87% over 12 months. More...

AEROSPACE & DEFENSE, AUTO PARTS, ELECTRONIC COMPONENTS, HEALTH CARE PLANS


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Rating: 3.1/5 (8 votes)

Richard Pzena vs Warren Buffett: Oil & Gas Equipment Frank Sands,Richard Pzena - Richard Pzena Vs Warren Buffett: Oil & Gas Equipment
When making a long-term investment, profits lay at the second-tier companies. In other words, bidding on the winner always pays smaller dividends. The same reasoning applies to horse track betting: the worse the odds of winning, the bigger the reward for betting. Here, however, we avoid gambling altogether and make an informed decision. In the oil & gas equipment industry, Baker Hughes (BHI) and National Oilwell Varco (NOV) fight for the third place in the industry, and have plenty of room for growth. More...

ENERGY, EQUIPMENT, OFFSHORE, ONSHORE


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Rating: 2.2/5 (5 votes)

Rich Pzena Commentary 3rd Quarter 2013
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Rating: 4.0/5 (4 votes)

Deep-Value Investor Richard Pzena's Top 5 Stocks
As of the second quarter Richard Pzena, the founder and co-chief investment officer at Pzena Investment Management, held 122 stocks (seven of which he bought during the quarter) valued at over $15 billion. More...

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Rating: 4.0/5 (3 votes)

Pzena Investment Management - Second Quarter 2013 Commentary
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Rating: 4.3/5 (4 votes)

Pzena Investment Management Second Quarter 2013 Letter
Richard Pzena, founder and co-chief investment officer of Pzena Asset Management, has released his commentary for the second quarter of 2013 here. More...

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Rating: 4.8/5 (4 votes)

Richard Pzena Buys 5 New Stocks
Pzena Investment Management has been dedicated to “strict valuation discipline” since Richard Pzena founded it in 1996. The firm has experienced some particularly good days recently: Market appreciation and inflows combined to grow assets under management from $14.1 billion in April 2012 to $19.9 billion in April 2013. More...

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Rating: 3.2/5 (6 votes)

Dell's Guru Shareholders Farther from Getting Estimated Fair Price as Blackstone Drops LBO Bid
Guru Dell shareholders’ chances of getting a price higher than the original $13.65 per share pitched by CEO Michael Dell and private equity firm Silver Lake Partners in February dwindled on Friday when a second bidder, Blackstone Group (BX), withdrew an offer of $14.25 per share for the company. More...

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Rating: 3.5/5 (4 votes)

Richard Pzena Reduces APOL as Phoenix Rises for Others
Richard Pzena of Pzena Investment Management LLC reduced his Apollo Group Inc. (APOL) shares by 23.54% on Feb. 28, 2013. His current APOL shares are at 5,463,455, bought at $16.95, with a change from average of 1%. The current APOL price per share is $17.06. Apollo Group Inc. was incorporated in Arizona in 1981. Perhaps best known for its subsidiary, The University of Phoenix Inc., the education company offers both online and on-campus educational programs at the undergraduate and graduate levels. Apollo Group Inc. has a market cap of $1.92 billion; with a P/E ratio of 4.9 and P/S ratio of 0.5. GuruFocus rated Apollo Group Inc. the business predictability rank of 4.5-star. More...

EDUCATION


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Rating: 3.3/5 (4 votes)

Guru Richard Pzena's Top Q4 Stock Buys
Pzena Investment Management is a global investment management firm with $18.6 billion in assets managed, which Richard Pzena founded using classic value investing principles. In its portfolio containing 124 stocks, it chose 7 new ones in the fourth quarter, the largest of which are: Assurant Inc. (AIZ), Aetna Inc. (AET) and Anixter International Inc. (AXE). More...

  • Currently 3.50/5

Rating: 3.5/5 (4 votes)

Pzena Investment Management Q4 Commentary
Investment manager Richard Pzena expounds on his fourth quarter and outlook for 2013 in his fourth quarter commentary available here. More...

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