Richard Pzena Q1 2026 Investment Activity: Strategic Shifts in Healthcare and Technology

As of March 31, 2026, investor Richard Pzena, managing the Hancock Classic Value fund, saw his portfolio value reach $30.7 billion. This quarter's filing reveals significant shifts in his investment strategy, with notable purchases and sales across various sectors.

Prior to Q1 2026, Mr. Pzena's portfolio included holdings in companies like Magna International (MGA), Cognizant (CTSH), Tyson Foods (TSN), and others. The latest filing provides insights into how these positions evolved during the quarter.

Prominent Purchases

Mr. Pzena demonstrated a clear preference for growth in select sectors during Q1 2026. He significantly increased his stake in Skyworks Solutions (SWKS), a Technology company, boosting his position by 27.57%. This substantial purchase suggests confidence in the semiconductor industry. Similarly, Cognizant Technology Solutions (CTSH) saw a strong inflow, with a 14.94% increase in shares. Tyson Foods (TSN), a Consumer Defensive stock, also received significant capital inflows, growing by 12.05%. Notably, Humana (HUM), a Healthcare stock, experienced the most substantial increase, with a remarkable 34.35% jump in holdings, indicating a major strategic move into the healthcare sector.

For more details on Skyworks Solutions, visit their profile. You can learn more about Cognizant Technology Solutions here and Tyson Foods here. Humana's profile is available here.

Strategic Reductions

Concurrently, Mr. Pzena reduced his exposure in several other areas. The Consumer Cyclical sector saw a notable decrease through the divestment of a portion of his Magna International (MGA) position, which experienced a 13% reduction in shares. In the Healthcare sector, there were multiple reductions: Baxter International (BAX) decreased by 7.88%, Bristol Myers Squibb (BMY) by 4.72%, CVS Health (CVS) by 11.61%, and Citigroup (C) by a substantial 22.98%. These reductions, particularly in the financial services holding (C), suggest a deliberate shift away from this sector or a reassessment of its prospects.

For further analysis of Magna International, please see their profile. Profiles for Baxter International here, Bristol Myers Squibb here, CVS Health here, and Citigroup here.

No Disclosures for New Positions or Exits

The filing does not disclose any information regarding new positions initiated by Mr. Pzena this quarter beyond the increases noted in the existing holdings. Similarly, there is no indication that Mr. Pzena fully exited any positions during this period.

To track Richard Pzena's investment activities, visit his profile on Insiderset.