Richard Pzena’s Pzena Investment Management recently reported its activity for the third quarter (Via a 13F). The market value of its stocks increased from $8.55 billion to $12 billion. It purchased seven new stocks and sold off 12 stocks.
Hewlett-Packard Company (NYSE:HPQ) makes up the largest portion of the firm’s portfolio at almost 5 percent. Staples, Inc. (NASDAQ:SPLS) comes in second at 4 percent, and tech stock, Oracle Corporation (NASDAQ:ORCL) is at 3.5 percent. The Allstate Corporation (NYSE:ALL) and TE Connectivity Ltd. (NYSE:TEL) round out the firm’s top five stock holdings.
Additions And Buys
The firm’s major new stock purchases include Apache Corporation (NYSE:APA), healthcare stock Hospira, Inc. (NYSE:HSP), tech firm Engility Holdings Inc (NYSE:EGL), Herman Miller, Inc. (NASDAQ:MLHR), and Synovus Financial Corp. (NYSE:SNV).
Pzena increased its holdings in American International Group, Inc. (NYSE:AIG), Citigroup Inc. (NYSE:C) and Royal Dutch Shell plc (NYSE:RDS.A) (NYSE:RDS.B).
Reductions And Sell-Offs
Pzena’s major sell-offs include Fidelity National Financial Inc (NYSE:FNF), Arthur J. Gallagher & Co. (NYSE:AJG), CNO Financial Group Inc (NYSE:CNO), Global Indemnity plc (NASDAQ:GBLI), and Portland General Electric Company (NYSE:POR).
The firm drastically reduced its position in Northrop Grumman Corporation (NYSE:NOC) and also reduced its position on BP plc (NYSE:BP) (LON:BP), Baker Hughes Incorporated (NYSE:BHI), JPMorgan Chase & Co. (NYSE:JPM), and UBS AG (NYSE:UBS).