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Pzena International Value ADR strategy's investment thesis on Dr Ing hc F Porsche AG ($P911.DE) — Q2 2026 | Buyside Digest

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$P911.DENASDAQDr Ing hc F Porsche AG

BULL

Pzena International Value ADR strategy—P911.DE

Fund Letter

Q2 2026

Published July 29, 2026

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$43.54USD

-1.5% vs last month

$42.44Pitched

+2.6% since pitch

Market Cap$39.7B

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Technical Chart

From the Fund Letter

Porsche AG's margins collapsed to near zero due to structural headwinds in China and gaps in its product refresh cycle, causing the stock to drop nearly 70% from its peak. Pzena initiated a...

— Pzena Investment Management, LLC

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Pzena Global Small Cap Focused Value strategyBULL

Pitched Jun 30, 2026

Following a steep share price decline triggered by product-cycle gaps and headwinds in China, Porsche AG became available at a highly attractive valuation of 9x normal earnings. The manager believes...

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