Cambiar Investors LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Cambiar Investors LLC reported 145 stock positions worth $2.2 billion. Its top holding was Delta Air Lines (DAL) at 2.8% of the portfolio, followed by Amrize (AMRZ, 2.7%) and Union Pacific (UNP, 2.7%). Compared with Q4 2025, it opened 14 new positions, sold out of 16, added to 34 and reduced 86. The biggest buy was a new position in On Semiconductor (ON) and the biggest sale an exit from Airbnb Class A (ABNB).
- Most Recent 13F
- Q2 2026
- Location
- Denver, CO
- CIK
- 0000823621
- Portfolio Value
- $2.2B (Q1 2026)
- SEC Filing
- 0001172661-26-001686 ↗ filed May 12, 2026
Holdings Value
Holdings 145 stocks · $2.2B
| DAL Delta Air Lines Inc. | 2.75% | 894,062 | $59.4M | Add +14.1% |
| AMRZ Amrize Ltd. | 2.74% | 1,056,207 | $59.2M | Reduce -3.0% |
| UNP Union Pacific Corp. | 2.73% | 242,831 | $58.9M | Reduce -3.4% |
| SLB SLB Ltd. filed as SLB LIMITED | 2.69% | 1,130,095 | $58.1M | Reduce -15.0% |
| UBER Uber Technologies Inc. | 2.65% | 796,747 | $57.3M | Add +15.7% |
| BMY Bristol-Myers Squibb Co. | 2.65% | 944,246 | $57.3M | Reduce -4.0% |
| HON Honeywell International Inc. | 2.65% | 253,300 | $57.3M | Reduce -4.3% |
| LH Labcorp Holdings Inc. | 2.54% | 205,604 | $54.9M | Add +5.3% |
| ELV Elevance Health Inc. | 2.52% | 185,890 | $54.4M | Add +10.7% |
| GOOGL Alphabet Inc. Class A | 2.47% | 185,404 | $53.3M | Reduce -2.9% |
| TXN Texas Instruments Inc. | 2.47% | 274,501 | $53.3M | Reduce -13.1% |
| CME Cme Group Inc. | 2.35% | 171,523 | $50.7M | Reduce -16.9% |
| AMAT Applied Materials Inc. | 2.34% | 148,058 | $50.6M | Reduce -16.9% |
| MDT Medtronic PLC | 2.31% | 575,288 | $49.8M | Add +0.0% |
| PNC PNC Financial Services Group | 2.27% | 235,926 | $49.1M | Reduce -5.3% |
| AMZN Amazon.com Inc. | 2.26% | 233,899 | $48.7M | Reduce -1.4% |
| JPM JPMorgan Chase & Co. | 2.17% | 159,429 | $46.9M | Reduce -2.3% |
| AXP American Express Co. | 2.09% | 149,445 | $45.2M | Add +61.7% |
| REGN Regeneron Pharmaceuticals | 2.08% | 58,183 | $45.0M | Reduce -3.3% |
| SRE Sempra | 1.96% | 435,431 | $42.3M | Reduce -0.6% |
| PEP Pepsico Inc. | 1.95% | 271,725 | $42.2M | Reduce -1.7% |
| FDX FedEx Corp. | 1.93% | 116,764 | $41.6M | Reduce -12.6% |
| MA Mastercard Inc. Class A | 1.88% | 81,380 | $40.7M | Add +36.4% |
| STZ Constellation Brands Inc. Class A | 1.87% | 268,528 | $40.3M | Add +8.8% |
| SYY Sysco Corp. | 1.86% | 563,470 | $40.2M | Add +13.9% |
| ON On Semiconductor | 1.83% | 638,679 | $39.5M | New |
| CVX Chevron Corp. | 1.75% | 182,697 | $37.8M | Reduce -46.0% |
| DEO Diageo PLC-Sponsored ADR | 1.70% | 493,349 | $36.7M | Add +14.7% |
| CB Chubb Ltd. | 1.61% | 106,782 | $34.8M | Reduce -28.7% |
| USB US Bancorp | 1.60% | 666,268 | $34.7M | Reduce -3.8% |
| MAS Masco Corp. | 1.52% | 542,069 | $32.7M | Reduce -11.6% |
| CMCSA Comcast Corp. Class A | 1.50% | 1,131,447 | $32.5M | Add +13.4% |
| CNC Centene Corp. | 1.47% | 966,786 | $31.7M | Add +1.0% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 1.44% | 434,686 | $31.2M | Reduce -3.1% |
| IWD iShares Russell 1000 Value E | 1.39% | 140,276 | $30.0M | Reduce -20.8% |
| APTV Aptiv PLC | 1.35% | 419,944 | $29.2M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.27% | 171,132 | $27.3M | Reduce -5.2% |
| AZN Astrazeneca PLC | 1.22% | 133,599 | $26.3M | Reduce -3.2% |
| WY Weyerhaeuser Co. | 1.18% | 1,043,624 | $25.5M | Add +4.3% |
| EFA iShares MSCI Eafe ETF | 1.07% | 237,040 | $23.0M | Add +15.0% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 1.00% | 16,428 | $21.7M | Reduce -11.7% |
| ALC Alcon Inc. filed as ALCON AG | 0.81% | 232,649 | $17.5M | Add +21.3% |
| SUNB Sunbelt Rentals Holdings Inc. | 0.81% | 268,264 | $17.5M | New |
| VSNT Versant Media Group Inc. | 0.79% | 458,921 | $17.0M | Add +1050.3% |
| ING ING Groep N.V.-Sponsored ADR | 0.76% | 630,683 | $16.4M | Reduce -18.0% |
| SW Smurfit Westrock PLC | 0.75% | 408,283 | $16.3M | Add +1.5% |
| BCS Barclays PLC-Spons ADR | 0.69% | 701,176 | $14.8M | Reduce -14.0% |
| GRAB Grab Holdings Ltd. Class A | 0.64% | 3,794,996 | $13.9M | Add +1.3% |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.62% | 232,669 | $13.4M | Reduce -2.5% |
| SONY Sony Group Corp. - SP ADR | 0.60% | 625,049 | $12.9M | Add +6.0% |
| CAMX Cambiar Aggressive Value ETF | 0.57% | 397,673 | $12.3M | Add +1.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.57% | 333,293 | $12.2M | New |
| ALGN Align Technology Inc. | 0.53% | 66,601 | $11.4M | Reduce -10.3% |
| SAP Sap SE-Sponsored ADR | 0.46% | 58,401 | $10.0M | Add +12.8% |
| ICLR Icon PLC | 0.45% | 87,045 | $9.6M | Add +16.3% |
| NXPI NXP Semiconductors NV | 0.29% | 31,475 | $6.2M | Add +9.0% |
| LSCC Lattice Semiconductor Corp. | 0.28% | 64,307 | $6.0M | Reduce -17.0% |
| TSEM Tower Semiconductor Ltd. | 0.26% | 32,256 | $5.7M | Reduce -35.3% |
| BOKF Bok Financial Corporation | 0.24% | 40,472 | $5.2M | Reduce -19.6% |
| LAZ Lazard Inc. | 0.24% | 120,864 | $5.1M | Reduce -1.7% |
| ET Energy Transfer LP | 0.24% | 263,683 | $5.1M | Add +0.4% |
| GMED Globus Medical Inc. Class A | 0.23% | 58,111 | $5.0M | Reduce -28.7% |
| RGA Reinsurance Group of America | 0.23% | 24,298 | $5.0M | Reduce -22.2% |
| WEX Wex Inc. | 0.23% | 31,931 | $4.9M | Reduce -10.4% |
| PB Prosperity Bancshares Inc. | 0.22% | 70,524 | $4.7M | Reduce -17.4% |
| GNTX Gentex Corp. | 0.21% | 208,838 | $4.6M | Reduce -15.1% |
| SRAD Sportradar Group AG-A | 0.21% | 271,133 | $4.5M | Add +17.5% |
| COLD Americold Realty Trust Inc. | 0.20% | 379,265 | $4.3M | Reduce -16.1% |
| IJH iShares Core S&P Midcap ETF | 0.19% | 62,241 | $4.2M | Add +36.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.19% | 49,707 | $4.1M | Add +0.9% |
| LFUS Littelfuse Inc. | 0.18% | 11,679 | $4.0M | Reduce -35.7% |
| BWA Borgwarner Inc. | 0.18% | 72,958 | $4.0M | Reduce -40.5% |
| DINO HF Sinclair Corp. | 0.18% | 62,006 | $3.9M | Reduce -25.9% |
| ATO Atmos Energy Corp. | 0.17% | 20,335 | $3.8M | Reduce -22.3% |
| WBS Webster Financial Corp. | 0.17% | 52,826 | $3.7M | Reduce -19.1% |
| DGX Quest Diagnostics Inc. | 0.17% | 18,675 | $3.7M | Reduce -21.3% |
| PNW Pinnacle West Capital | 0.17% | 35,804 | $3.6M | Reduce -21.2% |
| PKG Packaging Corp. of America | 0.16% | 16,513 | $3.5M | Reduce -24.1% |
| NNN NNN REIT Inc. | 0.16% | 80,862 | $3.4M | Reduce -20.2% |
| WTRG Essential Utilities Inc. | 0.16% | 84,226 | $3.4M | Reduce -19.2% |
| ZG Zillow Group Inc. Class A | 0.16% | 81,303 | $3.4M | New |
| WSO Watsco Inc. | 0.15% | 9,147 | $3.3M | New |
| CBOE Cboe Global Markets Inc. | 0.15% | 11,835 | $3.3M | Reduce -34.5% |
| COO The Cooper Cos Inc. | 0.15% | 46,110 | $3.3M | Reduce -17.0% |
| LUV Southwest Airlines Co. | 0.15% | 85,863 | $3.2M | New |
| CLX Clorox Company | 0.15% | 31,089 | $3.2M | New |
| DLB Dolby Laboratories Inc. Class A | 0.14% | 51,949 | $3.1M | Reduce -5.6% |
| FNF Fidelity National Financial | 0.14% | 63,682 | $3.0M | Reduce -14.6% |
| SSB Southstate Bank Corp. | 0.13% | 30,501 | $2.8M | New |
| WSC Willscot Holdings Corp. | 0.13% | 161,502 | $2.8M | Reduce -1.0% |
| SOLV Solventum Corp. | 0.13% | 42,259 | $2.8M | Reduce -24.9% |
| PHR Phreesia Inc. | 0.13% | 322,675 | $2.7M | Reduce -10.0% |
| SAIA Saia Inc. | 0.12% | 7,451 | $2.6M | New |
| LECO Lincoln Electric Holdings | 0.12% | 10,450 | $2.6M | Reduce -42.0% |
| EEFT Euronet Worldwide Inc. | 0.12% | 38,305 | $2.5M | Reduce -16.0% |
| ACVA Acv Auctions Inc. Class A | 0.11% | 560,166 | $2.4M | Reduce -3.1% |
| LW Lamb Weston Holdings Inc. | 0.11% | 55,732 | $2.4M | Reduce -20.1% |
| ICHR Ichor Holdings Ltd. | 0.09% | 40,551 | $1.9M | Reduce -53.1% |
| DIOD Diodes Inc. | 0.09% | 27,523 | $1.9M | Reduce -2.9% |
| IDA Idacorp Inc. | 0.08% | 12,379 | $1.8M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −2.34 |
| TEL Te Connectivity PLC | Reduce -97.4% | 0.03% | −1.38 |
| RTX RTX Corp. | Reduce -96.5% | 0.05% | −1.21 |
| EL Estee Lauder Companies Class A | Reduce -3.1% | 1.44% | −0.65 |
| CVX Chevron Corp. | Reduce -46.0% | 1.75% | −0.55 |
| CB Chubb Ltd. | Reduce -28.7% | 1.61% | −0.48 |
| IWD iShares Russell 1000 Value E | Reduce -20.8% | 1.39% | −0.28 |
| BCS Barclays PLC-Spons ADR | Reduce -14.0% | 0.69% | −0.24 |
| MAS Masco Corp. | Reduce -11.6% | 1.52% | −0.22 |
| ING ING Groep N.V.-Sponsored ADR | Reduce -18.0% | 0.76% | −0.20 |
| GOOGL Alphabet Inc. Class A | Reduce -2.9% | 2.47% | −0.20 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Sold out | 0.00% | −0.19 |
| AMZN Amazon.com Inc. | Reduce -1.4% | 2.26% | −0.19 |
| CF CF Industries Holdings Inc. | Sold out | 0.00% | −0.19 |
| WAT Waters Corp. | Sold out | 0.00% | −0.19 |
| TTC Toro Co. | Sold out | 0.00% | −0.18 |
| DOX Amdocs Ltd. | Sold out | 0.00% | −0.18 |
| JPM JPMorgan Chase & Co. | Reduce -2.3% | 2.17% | −0.18 |
| CME Cme Group Inc. | Reduce -16.9% | 2.35% | −0.17 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -2.5% | 0.62% | −0.15 |
| PHR Phreesia Inc. | Reduce -10.0% | 0.13% | −0.15 |
| ACVA Acv Auctions Inc. Class A | Reduce -3.1% | 0.11% | −0.10 |
| GMED Globus Medical Inc. Class A | Reduce -28.7% | 0.23% | −0.09 |
| LECO Lincoln Electric Holdings | Reduce -42.0% | 0.12% | −0.07 |
| SOLV Solventum Corp. | Reduce -24.9% | 0.13% | −0.07 |
| OLED Universal Display Corp. | Sold out | 0.00% | −0.07 |
| BWA Borgwarner Inc. | Reduce -40.5% | 0.18% | −0.06 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -77.5% | 0.02% | −0.06 |
| COLD Americold Realty Trust Inc. | Reduce -16.1% | 0.20% | −0.06 |
| RGA Reinsurance Group of America | Reduce -22.2% | 0.23% | −0.05 |
| COO The Cooper Cos Inc. | Reduce -17.0% | 0.15% | −0.05 |
| MMI Marcus & Millichap Inc. | Sold out | 0.00% | −0.05 |
| CBT Cabot Corp. | Sold out | 0.00% | −0.05 |
| PNC PNC Financial Services Group | Reduce -5.3% | 2.27% | −0.05 |
| CBOE Cboe Global Markets Inc. | Reduce -34.5% | 0.15% | −0.05 |
| USB US Bancorp | Reduce -3.8% | 1.60% | −0.05 |
| FNF Fidelity National Financial | Reduce -14.6% | 0.14% | −0.05 |
| GNTX Gentex Corp. | Reduce -15.1% | 0.21% | −0.04 |
| PB Prosperity Bancshares Inc. | Reduce -17.4% | 0.22% | −0.04 |
| PKG Packaging Corp. of America | Reduce -24.1% | 0.16% | −0.04 |
| EEFT Euronet Worldwide Inc. | Reduce -16.0% | 0.12% | −0.04 |
| LAZ Lazard Inc. | Reduce -1.7% | 0.24% | −0.03 |
| HUBG Hub Group Inc. Class A | Reduce -22.3% | 0.06% | −0.03 |
| BOKF Bok Financial Corporation | Reduce -19.6% | 0.24% | −0.03 |
| VEA Vanguard Ftse Developed ETF | Reduce -68.5% | 0.01% | −0.02 |
| NNN NNN REIT Inc. | Reduce -20.2% | 0.16% | −0.02 |
| ATO Atmos Energy Corp. | Reduce -22.3% | 0.17% | −0.02 |
| LFUS Littelfuse Inc. | Reduce -35.7% | 0.18% | −0.02 |
| WTRG Essential Utilities Inc. | Reduce -19.2% | 0.16% | −0.02 |
| LW Lamb Weston Holdings Inc. | Reduce -20.1% | 0.11% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| ON On Semiconductor | New | 1.83% | +1.83 |
| APTV Aptiv PLC | New | 1.35% | +1.35 |
| SUNB Sunbelt Rentals Holdings Inc. | New | 0.81% | +0.81 |
| VSNT Versant Media Group Inc. | Add +1050.3% | 0.79% | +0.72 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.57% | +0.57 |
| AXP American Express Co. | Add +61.7% | 2.09% | +0.57 |
| MA Mastercard Inc. Class A | Add +36.4% | 1.88% | +0.36 |
| LH Labcorp Holdings Inc. | Add +5.3% | 2.54% | +0.35 |
| STZ Constellation Brands Inc. Class A | Add +8.8% | 1.87% | +0.34 |
| DAL Delta Air Lines Inc. | Add +14.1% | 2.75% | +0.32 |
| SYY Sysco Corp. | Add +13.9% | 1.86% | +0.23 |
| EFA iShares MSCI Eafe ETF | Add +15.0% | 1.07% | +0.18 |
| CMCSA Comcast Corp. Class A | Add +13.4% | 1.50% | +0.17 |
| ZG Zillow Group Inc. Class A | New | 0.16% | +0.16 |
| WSO Watsco Inc. | New | 0.15% | +0.15 |
| LUV Southwest Airlines Co. | New | 0.15% | +0.15 |
| CLX Clorox Company | New | 0.15% | +0.15 |
| UBER Uber Technologies Inc. | Add +15.7% | 2.65% | +0.14 |
| ALC Alcon Inc. | Add +21.3% | 0.81% | +0.14 |
| SSB Southstate Bank Corp. | New | 0.13% | +0.13 |
| WY Weyerhaeuser Co. | Add +4.3% | 1.18% | +0.12 |
| SAIA Saia Inc. | New | 0.12% | +0.12 |
| MTUS Metallus Inc. | New | 0.07% | +0.07 |
| HALO Halozyme Therapeutics Inc. | New | 0.07% | +0.07 |
| TRNO Terreno Realty Corp. | New | 0.07% | +0.07 |
| BANR Banner Corporation | New | 0.06% | +0.06 |
| IJH iShares Core S&P Midcap ETF | Add +36.0% | 0.19% | +0.06 |
| SW Smurfit Westrock PLC | Add +1.5% | 0.75% | +0.06 |
| DEO Diageo PLC-Sponsored ADR | Add +14.7% | 1.70% | +0.04 |
| ET Energy Transfer LP | Add +0.4% | 0.24% | +0.04 |
| CAMX Cambiar Aggressive Value ETF | Add +1.2% | 0.57% | +0.02 |
| AGZ iShares Agency Bond ETF | Add +22.3% | 0.05% | +0.01 |
| SHY iShares 1-3 Year Treasury Bo | Add +0.9% | 0.19% | +0.01 |
| HCSG Healthcare Services Group | Add +10.8% | 0.07% | +0.01 |
| NXPI NXP Semiconductors NV | Add +9.0% | 0.29% | +0.01 |
| EXP Eagle Materials Inc. | Add +16.8% | 0.07% | +0.01 |
| QLTA iShares Aaa - A Rated Corpor | Add +10.7% | 0.04% | +0.00 |
| IEF iShares 7-10 Year Treasury B | Add +9.9% | 0.02% | +0.00 |
| ADUS Addus Homecare Corp. | Add +13.3% | 0.07% | +0.00 |
| ALG Alamo Group Inc. | Add +0.3% | 0.07% | +0.00 |
| SRAD Sportradar Group AG-A | Add +17.5% | 0.21% | −0.03 |
| SONY Sony Group Corp. - SP ADR | Add +6.0% | 0.60% | −0.08 |
| SAP Sap SE-Sponsored ADR | Add +12.8% | 0.46% | −0.10 |
| ELV Elevance Health Inc. | Add +10.7% | 2.52% | −0.11 |
| MDT Medtronic PLC | Add +0.0% | 2.31% | −0.16 |
| ICLR Icon PLC | Add +16.3% | 0.45% | −0.16 |
| GRAB Grab Holdings Ltd. Class A | Add +1.3% | 0.64% | −0.19 |
| CNC Centene Corp. | Add +1.0% | 1.47% | −0.29 |
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 |