Richard Pzena - Hancock Classic Value Investment Strategy & Portfolio Analysis
How Hancock Classic Value allocates capital, manages risk, and constructs its portfolio — based on SEC 13F filings.
As of Mar 31, 2026, Richard Pzena's Hancock Classic Value portfolio reflects a quant / systematic investor approach across 155 reported 13F positions. Portfolio returns are distributed across holdings, with the top five positions representing approximately 21% of total exposure. Across 155 reported holdings, economic exposure is broadly distributed across financials, healthcare, and technology without dominant single-name concentration. Exposure to high-growth and technology-oriented segments is moderate relative to peers, with performance instead anchored in durable, cash-generating businesses across financials, healthcare, and consumer discretionary. The portfolio exhibits extremely low turnover, reinforcing a patient, conviction-led investment approach. Distinctive traits include Long-Term Holder, Broadly Diversified, Economically Diversified.
Investment Style
Value, growth, quality, and behavioral classification from latest 13F holdings.
Primary type: Quant / Systematic Investor
Traits: Long-Term Holder, Broadly Diversified, Economically Diversified, Structurally Diversified
Turnover profile
Buy & Hold
Holding horizon
Long-Term
Portfolio Construction
Concentration and position sizing in the latest filing.
Portfolio construction is lowly concentrated: top three names represent 14.1% of assets, top five 21.0%, and the largest single position is 6.4%.
Top 3 weight
14.1%
Top 5 weight
21.0%
Top 10 weight
35.9%
Largest position
6.4%
Top holdings: Magna International, Inc., Cognizant Technology Solutions, Tyson Foods, Inc., Baxter International Inc., Bristol-Myers Squibb Company — view full holdings
Sector Preferences
Where capital is allocated by sector.
Capital is tilted toward Financial Services and Healthcare, with 12 sectors represented in the latest filing.
Leading sectors: Financial Services, Healthcare, Technology
Risk Framework
Concentration, diversification, and turnover tolerance.
This investor accepts low single-name risk (largest position 6.4%, top ten 35.9%) and high economic diversification (HHI 0.02). Turnover tolerance maps to a buy & hold profile.
Largest position
6.4%
Top 10 weight
35.9%
Max sector
18.5%
Diversification
High
Strategy Evolution
How the strategy changed between the two most recent filing periods.
Dec 31, 2025 → Mar 31, 2026
- Top-five concentration fell from 22.8% to 21.0%.
- Quarter-over-quarter portfolio weight turnover: 8.6%.
For trade-level changes, see the Activity page. View activity.
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