Richard Pzena Investment Changes: Q3 2026 Portfolio Activity
Pzena Investment Management's portfolio, valued at $33.86 billion as of September 30, 2026, shows significant shifts in Technology, Healthcare, and Consumer sectors during the quarter.
As of September 30, 2026, Richard Pzena's portfolio managed by Pzena Investment Management held a total value of $33.86 billion. The investment strategy appears focused on specific sectors, with Technology and Financial Services each accounting for approximately 22% of the portfolio, while Healthcare, Consumer Cyclical, Consumer Defensive, and Industrials follow closely behind.
The most concentrated Technology holdings include Cognizant Technology Solutions (CTSH), Accenture (ACN), and Skyworks Solutions (SWKS). Financial Services are heavily represented by UBS and MetLife (MET). Healthcare positions are dominated by Baxter International (BAX), Humana (HUM), and Bristol Myers Squibb (BMY). Consumer Cyclical includes Magna International (MGA) and Dollar Group (DG).
This quarter saw notable changes in several key holdings. In the Technology sector, Pzena significantly increased their position in SS&C Technologies Holdings (SSNC) by over 1.8 million shares, representing a substantial 18.64% increase in the quarter. Similarly, they added shares to REZI, boosting its portfolio allocation.
Conversely, the investor reduced their stake in several Technology companies. Skyworks Solutions (SWKS) saw a nearly 14% decrease in shares, while Magna International (MGA) experienced an 11% reduction. In Healthcare, Humana (HUM) shares were cut by nearly 17%, and Varex Imaging (VREX) saw a significant reduction, though its portfolio weight is minimal anyway.
Other sectors also reflected activity. In Financial Services, the investor added shares to Globe Life (GL), increasing its allocation by a considerable 156.61%. However, they also sold shares in UBS, a major position, reducing its allocation by 32.21% during the quarter.
Overall, the portfolio shows a high level of turnover, with 148 positions changing during the quarter. This indicates a dynamic investment approach where Pzena is actively managing risk and seeking performance. The significant buying and selling activities, including large purchases and sales, further highlight the investor's strategic decision-making process.