PZN — Pzena Investment Management, Inc. 13F holdings and portfolio analysis
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Baseline
Analysis messagesPre-generated Q&A about this fund. Use as reference context for your own analysis.
The latest change list shows CTSH unchanged to 4.96%; TSN unchanged to 4.38%; BAX unchanged to 4.32%. Combined with top 5 21.73%, top 10 39.28%, top 20 69.23%, that tells the user whether the baseline is becoming more concentrated or simply refreshing existing exposure. For a static page, this is the best first check before deciding whether the raw disclosed book is still acceptable.
The baseline is a direct read-through of the disclosed fund portfolio. It is led by CTSH (Cognizant Technology Solutions Corporation) 4.96%, TSN (Tyson Foods, Inc.) 4.38%, and BAX (Baxter International Inc.) 4.32%, with sector exposure of Financials 26.21%, Health Care 21.24%, and Information Technology 16.56%. The baseline metrics show return 8.39%, alpha -3.92%, beta 0.97, Sharpe 0.49, Sortino 0.63, and max drawdown -46.87%, so this should be treated as an equity exposure with its own concentration and timing risk rather than a neutral benchmark clone.
The strongest recent period was 2025-09-30 (7.54% strategy return, 1.46% benchmark, 6.08% excess, 16.72% turnover), while the weakest was 2025-12-31 (-0.46% strategy return, 9.57% benchmark, -10.03% excess, 22.60% turnover). Those periods should be read alongside baseline metrics of return 8.39%, alpha -3.92%, beta 0.97, Sharpe 0.49, Sortino 0.63, and max drawdown -46.87% to judge whether returns came from persistent exposure or a narrow timing window.