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.
Pzena's International Value ADR strategy gained 6.3% Net in Q4 2025, outperforming the MSCI EAFE Index. The firm capitalized on macro and AI-driven volatility to buy quality names like Accenture, Publicis, and Vale at attractive valuations while trimming strong performers.
Full Quick Take
Pzena's International Value ADR strategy gained 6.3% Net in Q4 2025, outperforming the MSCI EAFE Index. The firm capitalized on macro and AI-driven volatility to buy quality names like Accenture, Publicis, and Vale at attractive valuations while trimming strong performers.
