Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
The Pzena Focused Value strategy underperformed its value benchmark in Q3 2025, returning 0.9% net. Active moves included initiating positions in PPG and Solventum, exiting Charter Communications, and trimming Citigroup and CVS on strength.
Full Quick Take
The Pzena Focused Value strategy underperformed its value benchmark in Q3 2025, returning 0.9% net. Active moves included initiating positions in PPG and Solventum, exiting Charter Communications, and trimming Citigroup and CVS on strength.
