LongWDAYJun 2026
Workday, Inc.
Pzena initiated Workday after the broader software sell-off caused by fears of AI disruption. The firm views Workday's cloud ERP products as mission-critical because they are…
Pzena Investment Management, LLC - Focused Value
Concentrated U.S. value equity using normalized mid-cycle earnings to identify large companies trading at substantial discounts to long-term earnings power.$85B AUM4 published ideas
Pzena Investment Management, LLC is an employee-owned value-oriented investment manager founded in 1995. Its Focused Value strategy applies a normalized earnings framework to the 1,000 largest U.S. companies and typically holds 30-40 stocks. The process is explicitly valuation-driven and seeks to buy businesses when temporary controversy creates a large gap between market price and normalized earnings power.
Ideas from Pzena Investment Management, LLC - Focused Value
LongCDWJun 2026
CDW Corporation
Pzena increased its CDW position after near-term margin pressure and a hardware-heavy sales mix weighed on the shares despite solid revenue growth. The broader thesis is that CDW…
LongACNJun 2026
Accenture plc
Pzena views Accenture as a likely beneficiary rather than a casualty of the enterprise AI transition. Its consulting-led model combines business expertise with engineering and…
LongCTSHJun 2026
Cognizant Technology Solutions Corporation
Pzena sees Cognizant as more exposed than Accenture to AI-driven automation because more of its revenue comes from delivery and operations work, but it believes the market is…
Letters covered
- Quarterly Report to Clients - Second Quarter 2026June 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.