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

In the first quarter of 2026, investor Richard Pzena, managing the Hancock Classic Value fund, made strategic adjustments to the portfolio. The fund's holdings reflected both continued confidence in certain sectors and a reduction in exposure to others, as detailed in the latest disclosure data.

Healthcare remained a significant focus, with Pzena maintaining a strong allocation to the sector. Among the notable moves, Humana (HUM) saw a substantial increase in holdings, with a 34.35% rise in shares during the quarter. This suggests renewed confidence in the healthcare insurer. Conversely, the fund reduced its position in CitiGroup (C) by nearly 23%, indicating a strategic shift away from financial services heavyweights.

Financial Services experienced a mixed quarter. While the fund maintained its position in Capital One (COF), it significantly scaled back its exposure to CitiGroup (C). The reduction in C's position was one of the largest percentage declines among the top holdings.

Technology investments showed positive momentum, with both Cognizant Technology Solutions (CTSH) and Skyworks Solutions (SWKS) seeing significant share increases of 14.94% and 27.57%, respectively. These additions underscore the fund's interest in the technology sector, particularly in companies offering specialized solutions.

Consumer-focused holdings also featured prominently. Tyson Foods (TSN) and MAGNA International (MGA) both saw increases, with the fund adding shares in both the consumer defensive and cyclical sectors. However, the luxury car supplier saw a notable reduction, with a 13% decrease in shares during the period.

Overall, Pzena's strategy appears focused on selectively adding to positions in high-quality companies within healthcare, technology, and consumer sectors, while strategically reducing exposure to financial institutions like CitiGroup. For a complete view of the fund's holdings and performance, visit the Hancock Classic Value investor profile.

For detailed information on each stock holding, including company profiles and financials, explore the individual stock profiles on InsiderSet. These profiles provide deeper insights into the companies featured in Pzena's portfolio.