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Pzena Investment Management is a global investment management firm that employs a classic approach to deep value investing.

New York, NY
Joined May 2013
Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)Photo by Pzena Investment Management (@PzenaInvstmtMgt)
In our 2Q26 International Small Cap Value update, Portfolio Manager Jason Doctor examines how shifting consumer confidence and interest rate expectations outside the U.S. shaped small cap performance this quarter. Watch here: pzena.com/uk/institutional-i…
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Our Stewardship Insights report explores what we're hearing from CSOs across sectors and what it tells us about long-term shareholder value creation. Read more here: pzena.com/uk/institutional-i…
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Co-portfolio manager Rakesh Bordia's 2Q International Value update looks at a quarter of unusual dispersion beneath a flat market. He discusses how divergence of this kind creates opportunity for long-term investors focused on company fundamentals. pzena.com/uk/institutional-i…
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In our 2Q26 Large Cap Value update, PM Ben Silver discusses how the technology sector, particularly IT services and software, has been shaped by shifting corporate spending toward AI. Watch the full breakdown here: pzena.com/uk/institutional-i…
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In our Small Cap Value update, PM John Flynn discusses the sharp divergence between small cap growth and small cap value in 2Q, as markets looked past Middle East turmoil and embraced AI-related semiconductor and memory stocks. pzena.com/uk/institutional-i…
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On Behind the Balance Sheet, founder Richard Pzena traces the origins of Pzena Investment Management, including the firm's difficulties during the dot-com bubble and the conviction that carried it through. Listen here: pzena.com/americas/instituti…
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Our 2Q26 Highlighted Holding looks at three firms priced as if in terminal decline, and why we believe that verdict is premature. pzena.com/uk/institutional-i… Pzena is a discretionary investment manager and does not make recommendations to buy or sell any securities.
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AI optimism drove a strong global rally in Q2 2026, but the effect was notably concentrated. In our latest Global Value quarterly update, Co-CIO and PM John Goetz discusses what that market environment meant for the portfolio. Watch the full update here: pzena.com/uk/institutional-i…
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In our 2Q26 Emerging Markets update, Portfolio Manager Rakesh Bordia unpacks a quarter where nearly 75% of emerging market index returns came from just three stocks. Watch his full quarterly update below. pzena.com/uk/institutional-i…
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Our Q2 commentary explores the math behind current memory margins, whether they can last, and where we're finding value in the companies that market concentration has left behind. pzena.com/uk/institutional-i…
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President and PM Allison Fisch recently discussed why Pzena believes value investing is not only applicable in emerging markets but may be especially well-suited to them. Read more here: pzena.com/americas/instituti…
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Co-CIO and PM John Goetz discussed how AI-driven fear has been driving new research opportunities outside the United States for value investors, and how Pzena is actively putting that to work. Read more here: pzena.com/americas/instituti…
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At the midpoint of 2026, market narratives around AI are echoing earlier technology cycles. In our Mid-Year Global Outlook for Value webinar, Co-CIO Rich Pzena and PM Akhil Subramanian discuss. Watch the full replay on our site. pzena.com/uk/institutional-i…
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Pzena Founder and Co-CIO Rich Pzena was featured in Barron's, discussing what Pzena sees as a familiar pattern in large-scale capital spending cycles and what history suggests tends to follow. Read more here: pzena.com/americas/instituti…
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Our CEO and Portfolio Manager Caroline Cai recently discussed our shift in AI-related positioning with The Inside Adviser. Read more: pzena.com/americas/instituti… PIM is a discretionary investment manager and does not make recommendations to buy or sell any securities.
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Congratulations to Founder & Co-CIO Rich Pzena, who was honored at the London Value Investor Conference with a lifetime achievement award. Rich also spoke at the conference, co-hosting a Q&A to share his experience in value investing. Congrats, Rich! Well deserved!
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From acute weather events to chronic shifts in temperature, physical climate risk can affect enterprise value through stranded assets, margin pressure, and reduced financing availability. Read The Inside Adviser's take on our latest research here. pzena.com/americas/instituti…
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Pensions & Investments recently spoke with our President, Allison Fisch, about what it means to build a lasting investment firm around a single, focused philosophy and succeeding as a boutique firm. Read the full article here: tinyurl.com/3stt4zuu
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There’s still time to register for our July 6 live webinar. Hosted by founder and Co-CIO Rich Pzena & PM Akhil Subramanian. Two sessions are available: 10 AM with Andy Williams: shorturl.at/Npptl 7 PM with Paul Whymper-Williams: shorturl.at/ccO8O
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In a recent conversation with InvestSense, our CEO Caroline Cai discussed the structural disruption risk the market appears to be pricing in. Watch here: pzena.com/americas/instituti…
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