Deprince, Race & Zollo provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions. The firm advises 1 private fund.
Deprince, Race & Zollo reports 80 clients. They include 33 state or municipal government entities, 28 pension and profit-sharing plans, and 7 charitable organizations. Of its assets, 100.0% ($5.89B across 80 accounts) are managed with discretion. Of its clients, 3% are outside the U.S. It advised 18 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 3% | <1% |
| Investment companies | 1% | 12% |
| Pooled investment vehicles | 6% | 13% |
| Pension and profit-sharing plans | 35% | 44% |
| Charitable organizations | 9% | 2% |
| Other client typesState or municipal government entities; Corporations and other businesses | 46% | 29% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 2 | $3.59M | 0.1% | $1.8M |
| Investment companies | 1 | $721M | 12.2% | $721M |
| Pooled investment vehicles | 5 | $778M | 13.2% | $156M |
| Pension and profit-sharing plans | 28 | $2.57B | 43.6% | $91.7M |
| Charitable organizations | 7 | $102M | 1.7% | $14.6M |
| State or municipal government entities | 33 | $1.53B | 26.0% | $46.4M |
| Corporations and other businesses | 4 | $190M | 3.2% | $47.4M |
| Total | 80 | $5.89B | 100% | $73.7M |
- Clients
- 2
- Regulatory AUM
- $3.59M
- AUM share
- 0.1%
- Avg. per client
- $1.8M
- Clients
- 1
- Regulatory AUM
- $721M
- AUM share
- 12.2%
- Avg. per client
- $721M
- Clients
- 5
- Regulatory AUM
- $778M
- AUM share
- 13.2%
- Avg. per client
- $156M
- Clients
- 28
- Regulatory AUM
- $2.57B
- AUM share
- 43.6%
- Avg. per client
- $91.7M
- Clients
- 7
- Regulatory AUM
- $102M
- AUM share
- 1.7%
- Avg. per client
- $14.6M
- Clients
- 33
- Regulatory AUM
- $1.53B
- AUM share
- 26.0%
- Avg. per client
- $46.4M
- Clients
- 4
- Regulatory AUM
- $190M
- AUM share
- 3.2%
- Avg. per client
- $47.4M
Total
- Clients
- 80
- Regulatory AUM
- $5.89B
- AUM share
- 100%
- Avg. per client
- $73.7M
- Clients outside the U.S.
- 3%
- Clients advised without assets under management last fiscal year
- 18
- Private funds advised
- 1
Deprince, Race & Zollo is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
The leadership team of Deprince, Race & Zollo includes President Victor Zollo and Chief Compliance Officer Adelbert Sanchez. It has 27 employees, 14 of them in advisory roles.
Leadership
- Victor ZolloPrincipal,president,co-CEO, MGMT Committee Member
Adelbert SanchezChief Compliance Officer
Damien AmatoSenior Research Analyst
Kelly CarbonePrincipal, MGMT Committee Member
Angela JohnstonCFO, MGMT Committee Member
Brendan LongSenior Research Analyst
Zachary PancratzCo-Portfolio Manager- John RacePrincipal,co-CEO, MGMT Committee Member
Gregory RamsbyPrincipal, MGMT Committee Member
Darren WeemsCo-Portfolio Manager- James WoodDirector of Client Service
- Harry RadovichCo-Portfolio Manager
- Randy RenfrowCo-Portfolio Manager
- Marc MillerCo-Portfolio Manager
Staff
- 27 employees
- 14 in advisory functions
- Owns 10% to 25% of Deprince, Race & Zollo, Inc.
The John D. Race Trust
Control person · since March 1998
John Race
Trustee · Control person · since June 1998
- Owns 10% to 25% of Deprince, Race & Zollo, Inc.
The Victor A. Zollo, JR. Revocable Trust
Control person · since February 2002
Victor Zollo
Trustee · Control person · since June 1998
- Owns 10% to 25% of Deprince, Race & Zollo, Inc.
Gregory T. Ramsby Trust 1/14/99
Control person · since December 2011
Gregory Ramsby
Trustee · Control person · since January 1999
- Owns 10% to 25% of Deprince, Race & Zollo, Inc.
Kelly W. Carbone Revocable Trust 11/1/2005
Control person · since December 2011
Kelly Carbone
Trustee · Control person · since November 2005
- Owns 5% to 10% of Deprince, Race & Zollo, Inc.
Harry Radovich
since January 2010
- Owns 5% to 10% of Deprince, Race & Zollo, Inc.
Randy Renfrow
since January 2013
- Owns 5% to 10% of Deprince, Race & Zollo, Inc.
Marc Miller
since March 2012
Deprince, Race & Zollo’s regulatory assets grew 1.7× from $3.45B (March 2021) to $5.89B (May 2026); clients rose from 69 to 80 and employees fell from 30 to 27.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $5.89B | 80 | 27 | 1 |
| March 2025 | $5.49B | 81 | 30 | 1 |
| March 2024 | $4.81B | 79 | 31 | 1 |
| March 2023 | $4.76B | 76 | 31 | 1 |
| March 2022 | $4.35B | 70 | 29 | 1 |
| March 2021 | $3.45B | 69 | 30 | 1 |
Besides its headquarters, Deprince, Race & Zollo has 0 offices, with 1 listed address in Florida.
Florida · 1 listed address
- 250 Park Avenue South, Suite 250, Winter ParkHQ
Other business names
Deprince, Race & Zollo has reported 1 other business name to the SEC.
- DRZ Investment Advisors
Contact and registration details
- Legal name
- Deprince, Race & Zollo, Inc.
- Headquarters
- 250 Park Avenue South, Suite 250, Winter Park, FL 32789
- Website
- drz-inc.com
- Phone
- 407-420-9903
- @deprince-race-&-zollo-inc.
- SEC file
- 801-48779
- Structure
- Florida corporation
- Fiscal year end
- December
Deprince, Race & Zollo uses The Northern Trust ($2.13B, 49%), State Street Trust and Bank ($1.37B, 31%) and The Bank of New York Mellon ($860M, 20%) as custodians for its separately managed accounts. Deprince, Race & Zollo has custody of client assets.
- The Bank of New York MellonThe Bank of New York Mellon Corporation · New York City, NY · $860M20%
- The Northern TrustThe Northern Trust Company · Chicago, IL · $2.13B49%
- State Street Trust and BankState Street Trust and Bank Company · Boston, MA · $1.37B31%
At year end, Deprince, Race & Zollo’s separately managed accounts were mostly in stocks (98%). Its reported 13F holdings for the quarter ended 30 June 2026 total $5.96B across 188 positions; the largest are Newell Brands Inc. (2.2%), Werner Enterprises Inc. (2.2%) and Brunswick Corp. (2.1%).
What the accounts hold
- Stocks98%
- Cash2%
Reported 13F holdings
- $5.96B
- Reported 13F value
- 188
- Positions
- 17.5%
- In the 10 largest
- +12.6%
- Value vs. prior quarter
- Newell Brands Inc.2.2%
- Werner Enterprises Inc.2.2%
- Brunswick Corp.2.1%
- Primo Brands Corporation · Class A Com Shs2.0%
- Flowserve Corp.1.7%
- Crane Nxt CO1.6%
- Citigroup Inc.1.5%
- Microsoft Corp.1.5%
- Rayonier Inc.1.5%
- Robert Half Inc..1.3%
Together, the ten largest are 17.5% of reported value.
How many clients does Deprince, Race & Zollo have?
Deprince, Race & Zollo has 80 clients and manages $5.89 billion for them, as of May 2026. They include 33 state or municipal government entities, 28 pension and profit-sharing plans, and 7 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 8 May 2026
What services does Deprince, Race & Zollo offer?
Deprince, Race & Zollo provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Deprince, Race & Zollo use?
Deprince, Race & Zollo’s separately managed account assets are held at The Northern Trust Company (Chicago, IL), with $2.13B, State Street Trust and Bank Company (Boston, MA), with $1.37B and The Bank of New York Mellon Corporation (New York City, NY), with $860M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 8 May 2026
How many financial advisors does Deprince, Race & Zollo have?
Deprince, Race & Zollo has 0 investment adviser representatives registered with state securities authorities, out of 27 employees, and 14 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Deprince, Race & Zollo invest in?
At the end of its last fiscal year, Deprince, Race & Zollo’s separately managed accounts held 98% exchange-traded equities and 2% cash and equivalents. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Deprince, Race & Zollo?
Deprince, Race & Zollo’s direct owners are the John D. Race Trust, the Victor A. Zollo, JR. Revocable Trust, Harry Radovich, Randy Renfrow, Gregory T. Ramsby Trust 1/14/99, Kelly W. Carbone Revocable Trust 11/1/2005 and Marc Miller, each holding 25% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 8 May 2026
How does Deprince, Race & Zollo get paid?
Deprince, Race & Zollo is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Deprince, Race & Zollo?
Deprince, Race & Zollo’s main office is at 250 Park Avenue South, Suite 250, Winter Park, FL 32789. Its phone number is 407-420-9903. Its website is drz-inc.com.