Cambiar Investors LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Cambiar Investors LLC reported 146 stock positions worth $2.2 billion. Its top holding was Alphabet Class A (GOOGL) at 2.7% of the portfolio, followed by Elevance Health (ELV, 2.6%) and Amrize (AMRZ, 2.6%). Compared with Q3 2025, it opened 16 new positions, sold out of 10, added to 33 and reduced 81. The biggest buy was a new position in Honeywell International (HON) and the biggest sale an exit from Flutter Entertainment PLC-Di (FLUT).
- Most Recent 13F
- Q2 2026
- Location
- Denver, CO
- CIK
- 0000823621
- Portfolio Value
- $2.2B (Q4 2025)
- SEC Filing
- 0001172661-26-000277 ↗ filed Jan 23, 2026
Holdings Value
Holdings 146 stocks · $2.2B
| GOOGL Alphabet Inc. Class A | 2.67% | 190,945 | $59.8M | Reduce -15.0% |
| ELV Elevance Health Inc. | 2.63% | 167,958 | $58.9M | Add +0.1% |
| AMRZ Amrize Ltd. | 2.63% | 1,088,435 | $58.9M | Add +15.9% |
| UNP Union Pacific Corp. | 2.60% | 251,379 | $58.1M | Add +7.9% |
| CME Cme Group Inc. | 2.52% | 206,311 | $56.3M | Add +38.6% |
| UBER Uber Technologies Inc. | 2.51% | 688,700 | $56.3M | Add +4.8% |
| MDT Medtronic PLC | 2.47% | 575,189 | $55.3M | Reduce -2.4% |
| TXN Texas Instruments Inc. | 2.45% | 315,962 | $54.8M | Add +33.3% |
| AMZN Amazon.com Inc. | 2.45% | 237,115 | $54.7M | Reduce -3.5% |
| DAL Delta Air Lines Inc. | 2.43% | 783,500 | $54.4M | Reduce -18.2% |
| BMY Bristol-Myers Squibb Co. | 2.37% | 983,176 | $53.0M | Add +2.7% |
| JPM JPMorgan Chase & Co. | 2.35% | 163,130 | $52.6M | Reduce -5.4% |
| ABNB Airbnb Inc. Class A | 2.34% | 386,311 | $52.4M | Add +1.0% |
| PNC PNC Financial Services Group | 2.32% | 249,209 | $52.0M | Reduce -2.3% |
| HON Honeywell International Inc. | 2.31% | 264,644 | $51.6M | New |
| CVX Chevron Corp. | 2.30% | 338,026 | $51.5M | Reduce -3.4% |
| SLB SLB Ltd. filed as SLB LIMITED | 2.28% | 1,330,217 | $51.1M | Reduce -3.4% |
| LH Labcorp Holdings Inc. | 2.19% | 195,315 | $49.0M | Reduce -1.3% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 2.10% | 448,441 | $47.0M | Reduce -17.9% |
| CB Chubb Ltd. | 2.09% | 149,809 | $46.8M | Reduce -3.2% |
| REGN Regeneron Pharmaceuticals | 2.07% | 60,163 | $46.4M | Add +1.8% |
| AMAT Applied Materials Inc. | 2.05% | 178,237 | $45.8M | Reduce -9.9% |
| PEP Pepsico Inc. | 1.77% | 276,544 | $39.7M | New |
| CNC Centene Corp. | 1.76% | 957,159 | $39.4M | Reduce -35.0% |
| MAS Masco Corp. | 1.74% | 612,832 | $38.9M | Add +733.9% |
| SRE Sempra | 1.73% | 438,255 | $38.7M | Reduce -21.1% |
| FDX FedEx Corp. | 1.72% | 133,547 | $38.6M | New |
| IWD iShares Russell 1000 Value E | 1.67% | 177,191 | $37.3M | Add +26.9% |
| DEO Diageo PLC-Sponsored ADR | 1.66% | 430,013 | $37.1M | Reduce -8.0% |
| USB US Bancorp | 1.65% | 692,620 | $37.0M | Reduce -3.0% |
| SYY Sysco Corp. | 1.63% | 494,509 | $36.4M | Add +16.8% |
| AXP American Express Co. | 1.53% | 92,399 | $34.2M | Reduce -4.4% |
| MA Mastercard Inc. Class A | 1.52% | 59,674 | $34.1M | Reduce -3.2% |
| STZ Constellation Brands Inc. Class A | 1.52% | 246,772 | $34.0M | Add +8.6% |
| TEL Te Connectivity PLC | 1.42% | 139,283 | $31.7M | Reduce -15.3% |
| CMCSA Comcast Corp. Class A | 1.33% | 997,370 | $29.8M | Reduce -32.1% |
| RTX RTX Corp. | 1.26% | 153,173 | $28.1M | Reduce -3.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.24% | 180,477 | $27.7M | Reduce -3.4% |
| AZN Astrazeneca PLC-Spons ADR | 1.13% | 276,150 | $25.4M | Add +2.0% |
| WY Weyerhaeuser Co. | 1.06% | 1,000,541 | $23.7M | Reduce -15.8% |
| ING ING Groep N.V.-Sponsored ADR | 0.96% | 769,078 | $21.5M | Reduce -21.3% |
| BCS Barclays PLC-Spons ADR | 0.93% | 814,900 | $20.7M | Reduce -8.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.89% | 18,602 | $19.9M | Reduce -10.6% |
| EFA iShares MSCI Eafe ETF | 0.88% | 206,175 | $19.8M | Add +148.3% |
| GRAB Grab Holdings Ltd. Class A | 0.84% | 3,748,271 | $18.7M | Reduce -3.6% |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.77% | 238,670 | $17.2M | Reduce -6.9% |
| SW Smurfit Westrock PLC | 0.70% | 402,410 | $15.6M | New |
| ALC Alcon Inc. filed as ALCON AG | 0.68% | 191,835 | $15.1M | New |
| SONY Sony Group Corp. - SP ADR | 0.67% | 589,953 | $15.1M | Reduce -4.7% |
| ICLR Icon PLC | 0.61% | 74,822 | $13.6M | Reduce -5.3% |
| SAP Sap SE-Sponsored ADR | 0.56% | 51,797 | $12.6M | Add +35.4% |
| CAMX Cambiar Aggressive Value ETF | 0.55% | 392,992 | $12.4M | Add +614.5% |
| ALGN Align Technology Inc. | 0.52% | 74,210 | $11.6M | Reduce -2.2% |
| GMED Globus Medical Inc. Class A | 0.32% | 81,544 | $7.1M | Reduce -30.0% |
| RGA Reinsurance Group of America | 0.28% | 31,225 | $6.4M | Reduce -13.4% |
| NXPI NXP Semiconductors NV | 0.28% | 28,869 | $6.3M | Add +44.1% |
| PHR Phreesia Inc. | 0.27% | 358,474 | $6.1M | Add +48.9% |
| LAZ Lazard Inc. | 0.27% | 122,970 | $6.0M | Add +13.2% |
| BOKF Bok Financial Corporation | 0.27% | 50,350 | $6.0M | Reduce -20.9% |
| PB Prosperity Bancshares Inc. | 0.26% | 85,361 | $5.9M | Reduce -11.8% |
| TSEM Tower Semiconductor Ltd. | 0.26% | 49,864 | $5.9M | Add +60.7% |
| COLD Americold Realty Trust Inc. | 0.26% | 452,272 | $5.8M | Add +47.6% |
| GNTX Gentex Corp. | 0.26% | 245,971 | $5.7M | Reduce -11.8% |
| LSCC Lattice Semiconductor Corp. | 0.25% | 77,487 | $5.7M | Reduce -16.2% |
| BWA Borgwarner Inc. | 0.25% | 122,711 | $5.5M | Reduce -35.6% |
| SRAD Sportradar Group AG-A | 0.24% | 230,738 | $5.5M | Reduce -2.3% |
| WEX Wex Inc. | 0.24% | 35,633 | $5.3M | Reduce -12.5% |
| ACVA Acv Auctions Inc. Class A | 0.21% | 577,884 | $4.6M | Add +13.4% |
| LFUS Littelfuse Inc. | 0.21% | 18,173 | $4.6M | Reduce -18.6% |
| COO The Cooper Cos Inc. | 0.20% | 55,577 | $4.6M | New |
| CBOE Cboe Global Markets Inc. | 0.20% | 18,071 | $4.5M | Reduce -14.2% |
| PKG Packaging Corp. of America | 0.20% | 21,752 | $4.5M | Reduce -17.6% |
| SOLV Solventum Corp. | 0.20% | 56,274 | $4.5M | New |
| ATO Atmos Energy Corp. | 0.20% | 26,155 | $4.4M | Reduce -17.7% |
| ET Energy Transfer LP | 0.19% | 262,523 | $4.3M | Add +0.2% |
| LECO Lincoln Electric Holdings | 0.19% | 18,005 | $4.3M | Reduce -26.8% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.19% | 21,784 | $4.2M | Reduce -35.9% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.19% | 53,871 | $4.2M | New |
| WAT Waters Corp. | 0.19% | 10,951 | $4.2M | Reduce -31.1% |
| DGX Quest Diagnostics Inc. | 0.18% | 23,730 | $4.1M | Reduce -13.4% |
| WBS Webster Financial Corp. | 0.18% | 65,278 | $4.1M | Reduce -29.8% |
| TTC Toro Co. | 0.18% | 51,830 | $4.1M | Reduce -16.5% |
| SHY iShares 1-3 Year Treasury Bo | 0.18% | 49,242 | $4.1M | Add +101.6% |
| FNF Fidelity National Financial | 0.18% | 74,570 | $4.1M | Reduce -16.4% |
| DOX Amdocs Ltd. | 0.18% | 50,239 | $4.0M | Reduce -15.0% |
| PNW Pinnacle West Capital | 0.18% | 45,419 | $4.0M | Reduce -15.5% |
| NNN NNN REIT Inc. | 0.18% | 101,361 | $4.0M | Reduce -16.7% |
| WTRG Essential Utilities Inc. | 0.18% | 104,260 | $4.0M | Reduce -17.6% |
| DINO HF Sinclair Corp. | 0.17% | 83,650 | $3.9M | Reduce -23.6% |
| DLB Dolby Laboratories Inc. Class A | 0.16% | 55,053 | $3.5M | Reduce -19.5% |
| EEFT Euronet Worldwide Inc. | 0.15% | 45,583 | $3.5M | Reduce -11.8% |
| WSC Willscot Holdings Corp. | 0.14% | 163,165 | $3.1M | Reduce -18.9% |
| IJH iShares Core S&P Midcap ETF | 0.13% | 45,755 | $3.0M | Reduce -28.6% |
| LW Lamb Weston Holdings Inc. | 0.13% | 69,710 | $2.9M | Reduce -16.5% |
| FAF First American Financial | 0.09% | 32,104 | $2.0M | No change |
| HUBG Hub Group Inc. Class A | 0.09% | 44,815 | $1.9M | No change |
| RNR Renaissancere Holdings Ltd. | 0.08% | 6,541 | $1.8M | Reduce -16.9% |
| TCBI Texas Capital Bancshares Inc. | 0.08% | 20,310 | $1.8M | No change |
| NTST Netstreit Corp. | 0.08% | 102,978 | $1.8M | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.08% | 9,150 | $1.7M | Add +182.5% |
Portfolio Sells Q3 2025 → Q4 2025
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −3.52 |
| TGT Target Corp. | Sold out | 0.00% | −2.00 |
| PPG PPG Industries Inc. | Sold out | 0.00% | −1.98 |
| CMCSA Comcast Corp. Class A | Reduce -32.1% | 1.33% | −0.77 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -97.3% | 0.02% | −0.73 |
| CNH CNH Industrial NV | Sold out | 0.00% | −0.64 |
| CNC Centene Corp. | Reduce -35.0% | 1.76% | −0.63 |
| SRE Sempra | Reduce -21.1% | 1.73% | −0.54 |
| LH Labcorp Holdings Inc. | Reduce -1.3% | 2.19% | −0.39 |
| DEO Diageo PLC-Sponsored ADR | Reduce -8.0% | 1.66% | −0.37 |
| WY Weyerhaeuser Co. | Reduce -15.8% | 1.06% | −0.28 |
| GRAB Grab Holdings Ltd. Class A | Reduce -3.6% | 0.84% | −0.23 |
| TEL Te Connectivity PLC | Reduce -15.3% | 1.42% | −0.22 |
| EPAM Epam Systems Inc. | Sold out | 0.00% | −0.20 |
| ING ING Groep N.V.-Sponsored ADR | Reduce -21.3% | 0.96% | −0.20 |
| CVX Chevron Corp. | Reduce -3.4% | 2.30% | −0.17 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.15 |
| SONY Sony Group Corp. - SP ADR | Reduce -4.7% | 0.67% | −0.14 |
| BWA Borgwarner Inc. | Reduce -35.6% | 0.25% | −0.13 |
| JPM JPMorgan Chase & Co. | Reduce -5.4% | 2.35% | −0.13 |
| GNTX Gentex Corp. | Reduce -11.8% | 0.26% | −0.10 |
| EL Estee Lauder Companies Class A | Reduce -17.9% | 2.10% | −0.09 |
| LW Lamb Weston Holdings Inc. | Reduce -16.5% | 0.13% | −0.09 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −0.09 |
| DINO HF Sinclair Corp. | Reduce -23.6% | 0.17% | −0.09 |
| FTDR Frontdoor Inc. | Sold out | 0.00% | −0.08 |
| MDT Medtronic PLC | Reduce -2.4% | 2.47% | −0.08 |
| AEIS Advanced Energy Industries | Sold out | 0.00% | −0.08 |
| MA Mastercard Inc. Class A | Reduce -3.2% | 1.52% | −0.07 |
| LECO Lincoln Electric Holdings | Reduce -26.8% | 0.19% | −0.07 |
| WBS Webster Financial Corp. | Reduce -29.8% | 0.18% | −0.07 |
| DLB Dolby Laboratories Inc. Class A | Reduce -19.5% | 0.16% | −0.07 |
| FNF Fidelity National Financial | Reduce -16.4% | 0.18% | −0.06 |
| PKG Packaging Corp. of America | Reduce -17.6% | 0.20% | −0.06 |
| LFUS Littelfuse Inc. | Reduce -18.6% | 0.21% | −0.06 |
| NNN NNN REIT Inc. | Reduce -16.7% | 0.18% | −0.06 |
| BOKF Bok Financial Corporation | Reduce -20.9% | 0.27% | −0.06 |
| WSC Willscot Holdings Corp. | Reduce -18.9% | 0.14% | −0.06 |
| IJH iShares Core S&P Midcap ETF | Reduce -28.6% | 0.13% | −0.06 |
| WEX Wex Inc. | Reduce -12.5% | 0.24% | −0.05 |
| LSCC Lattice Semiconductor Corp. | Reduce -16.2% | 0.25% | −0.05 |
| DGX Quest Diagnostics Inc. | Reduce -13.4% | 0.18% | −0.05 |
| EEFT Euronet Worldwide Inc. | Reduce -11.8% | 0.15% | −0.05 |
| ATO Atmos Energy Corp. | Reduce -17.7% | 0.20% | −0.05 |
| WTRG Essential Utilities Inc. | Reduce -17.6% | 0.18% | −0.05 |
| SRAD Sportradar Group AG-A | Reduce -2.3% | 0.24% | −0.04 |
| DAL Delta Air Lines Inc. | Reduce -18.2% | 2.43% | −0.04 |
| DOX Amdocs Ltd. | Reduce -15.0% | 0.18% | −0.04 |
| PNW Pinnacle West Capital | Reduce -15.5% | 0.18% | −0.04 |
| RMBS Rambus Inc. | Reduce -22.1% | 0.08% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| HON Honeywell International Inc. | New | 2.31% | +2.31 |
| PEP Pepsico Inc. | New | 1.77% | +1.77 |
| FDX FedEx Corp. | New | 1.72% | +1.72 |
| MAS Masco Corp. | Add +733.9% | 1.74% | +1.50 |
| SW Smurfit Westrock PLC | New | 0.70% | +0.70 |
| CME Cme Group Inc. | Add +38.6% | 2.52% | +0.69 |
| ALC Alcon Inc. | New | 0.68% | +0.68 |
| REGN Regeneron Pharmaceuticals | Add +1.8% | 2.07% | +0.56 |
| AMRZ Amrize Ltd. | Add +15.9% | 2.63% | +0.56 |
| EFA iShares MSCI Eafe ETF | Add +148.3% | 0.88% | +0.53 |
| CAMX Cambiar Aggressive Value ETF | Add +614.5% | 0.55% | +0.48 |
| TXN Texas Instruments Inc. | Add +33.3% | 2.45% | +0.47 |
| BMY Bristol-Myers Squibb Co. | Add +2.7% | 2.37% | +0.41 |
| IWD iShares Russell 1000 Value E | Add +26.9% | 1.67% | +0.37 |
| ABNB Airbnb Inc. Class A | Add +1.0% | 2.34% | +0.23 |
| COO The Cooper Cos Inc. | New | 0.20% | +0.20 |
| SOLV Solventum Corp. | New | 0.20% | +0.20 |
| AZN Astrazeneca PLC-Spons ADR | Add +2.0% | 1.13% | +0.19 |
| CF CF Industries Holdings Inc. | New | 0.19% | +0.19 |
| ELV Elevance Health Inc. | Add +0.1% | 2.63% | +0.17 |
| TSEM Tower Semiconductor Ltd. | Add +60.7% | 0.26% | +0.16 |
| STZ Constellation Brands Inc. Class A | Add +8.6% | 1.52% | +0.13 |
| SAP Sap SE-Sponsored ADR | Add +35.4% | 0.56% | +0.10 |
| UNP Union Pacific Corp. | Add +7.9% | 2.60% | +0.09 |
| SHY iShares 1-3 Year Treasury Bo | Add +101.6% | 0.18% | +0.09 |
| COLD Americold Realty Trust Inc. | Add +47.6% | 0.26% | +0.09 |
| NXPI NXP Semiconductors NV | Add +44.1% | 0.28% | +0.07 |
| ICHR Ichor Holdings Ltd. | New | 0.07% | +0.07 |
| INGR Ingredion Inc. | New | 0.06% | +0.06 |
| EXP Eagle Materials Inc. | New | 0.06% | +0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +182.5% | 0.08% | +0.05 |
| SYY Sysco Corp. | Add +16.8% | 1.63% | +0.04 |
| VEA Vanguard Ftse Developed ETF | Add +221.0% | 0.03% | +0.02 |
| AEG Aegon Ltd.-NY Reg SHR | New | 0.02% | +0.02 |
| CNI Canadian Natl Railway Co. | New | 0.02% | +0.02 |
| PHR Phreesia Inc. | Add +48.9% | 0.27% | +0.01 |
| VXF Vanguard Extended Market ETF | New | 0.01% | +0.01 |
| MGA Magna International Inc. | Add +90.5% | 0.02% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.01% | +0.01 |
| LAZ Lazard Inc. | Add +13.2% | 0.27% | +0.01 |
| RMAX Re/Max Holdings Inc. Class A | New | 0.00% | +0.00 |
| IEUR iShares Core MSCI Europe ETF | Add +25.6% | 0.02% | +0.00 |
| HLN Haleon PLC-ADR | Add +0.5% | 0.03% | +0.00 |
| IVE iShares S&P 500 Value ETF | Add +21.4% | 0.01% | +0.00 |
| USFR Wisdomtree Floating Rate Tre | Add +4.5% | 0.06% | +0.00 |
| OLED Universal Display Corp. | Add +25.4% | 0.07% | +0.00 |
| ET Energy Transfer LP | Add +0.2% | 0.19% | −0.01 |
| ACVA Acv Auctions Inc. Class A | Add +13.4% | 0.21% | −0.02 |
| UBER Uber Technologies Inc. | Add +4.8% | 2.51% | −0.41 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 150 | $2.3B | DAL, GOOGL, UNP, BMY, LH |
| Q1 2026 | 145 | $2.2B | DAL, AMRZ, UNP, SLB, UBER |
| Q4 2025 | 146 | $2.2B | GOOGL, ELV, AMRZ, UNP, CME |
| Q3 2025 | 140 | $2.2B | FLUT, UBER, LH, MDT, UNP |
| Q2 2025 | 148 | $2.4B | FLUT, UBER, DAL, LH, GOOGL |
| Q1 2025 | 154 | $2.4B | UBER, CME, ELV, BMY, LH |
| Q4 2024 | 154 | $2.5B | DAL, GOOGL, DEO, CME, LH |
| Q3 2024 | 147 | $2.6B | DAL, DEO, CME, LH, MDT |
| Q2 2024 | 145 | $2.6B | TXN, GOOGL, GS, CVE, CVX |
| Q1 2024 | 144 | $2.7B | RTX, AXP, CVE, GS, CVX |