Value investing firm Pzena Investment Management, led by Richard Pzena, significantly increased its position in cabinet manufacturer MasterBrand (MBC). According to a quarterly disclosure, the firm owned 15.33 million shares as of June 30, 2026, a 302% increase from the 3.81 million shares held at the end of the prior quarter. The total reported value of the stake grew to $157.74 million.
This investment change was revealed in a delayed 13F filing, which reports trades that occurred in the second quarter of 2026. During that same period, MasterBrand completed a major all-stock merger with American Woodmark Corp, a key competitor. The transaction aimed to create the largest residential cabinet manufacturer in North America. Pzena's increased investment reflects a substantial new bet on the combined company's future.