Value investing firm Pzena Investment Management, led by Richard Pzena, has completely sold off its position in Cisco Systems (CSCO), according to a recent quarterly filing with the SEC. The firm disposed of all 1.28 million shares it held, with the stake previously valued at $150.50 million.
This disclosure comes from a 13F filing for the period ending September 30, 2026, meaning the trades occurred at some point in the third quarter. These reports are filed quarterly and do not reflect real-time trading activity. The exit is notable as Cisco reported strong performance and a positive outlook during the same period, citing growing demand for its AI-related infrastructure.