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

0$1.0B$2.0B$3.0B Q1 2024: $2.7B Q1 2024 Q2 2024: $2.6B Q2 2024 Q3 2024: $2.6B Q3 2024 Q4 2024: $2.5B Q4 2024 Q1 2025: $2.4B Q1 2025 Q2 2025: $2.4B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $2.2B Q4 2025 Q1 2026: $2.2B $2.2B Q1 2026 Q2 2026: $2.3B Q2 2026

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
NOV Nov Inc. 0.08% 90,358 $1.7M No change
NTST Netstreit Corp. 0.08% 87,857 $1.7M Reduce -14.7%
UCB United Community Banks 0.08% 52,281 $1.6M Reduce -3.7%
ATMU Atmus Filtration Technologie 0.08% 28,917 $1.6M Reduce -12.2%
TXNM TXNM Energy Inc. 0.08% 28,008 $1.6M No change
TCBI Texas Capital Bancshares Inc. 0.08% 17,221 $1.6M Reduce -15.2%
MCRI Monarch Casino & Resort Inc. 0.07% 16,871 $1.6M No change
RMBS Rambus Inc. 0.07% 18,494 $1.6M No change
FAF First American Financial 0.07% 26,104 $1.6M Reduce -18.7%
RNR Renaissancere Holdings Ltd. 0.07% 5,274 $1.6M Reduce -19.4%
MTUS Metallus Inc. 0.07% 92,806 $1.5M New
ADUS Addus Homecare Corp. 0.07% 16,072 $1.5M Add +13.3%
HALO Halozyme Therapeutics Inc. 0.07% 23,261 $1.5M New
HCSG Healthcare Services Group 0.07% 80,850 $1.5M Add +10.8%
TRNO Terreno Realty Corp. 0.07% 23,445 $1.4M New
INGR Ingredion Inc. 0.07% 12,751 $1.4M No change
ALG Alamo Group Inc. 0.07% 8,670 $1.4M Add +0.3%
EXP Eagle Materials Inc. 0.07% 7,469 $1.4M Add +16.8%
USPH U.S. Physical Therapy Inc. 0.06% 18,621 $1.4M Reduce -13.9%
HSTM Healthstream Inc. 0.06% 67,229 $1.4M No change
UBSI United Bankshares Inc. 0.06% 33,478 $1.4M Reduce -25.7%
BANR Banner Corporation 0.06% 21,852 $1.3M New
HUBG Hub Group Inc. Class A 0.06% 34,815 $1.3M Reduce -22.3%
AGZ iShares Agency Bond ETF 0.05% 9,686 $1.1M Add +22.3%
RTX RTX Corp. 0.05% 5,367 $1.0M Reduce -96.5%
USFR Wisdomtree Floating Rate Tre 0.04% 19,269 $970K Reduce -26.9%
QLTA iShares Aaa - A Rated Corpor 0.04% 18,083 $861K Add +10.7%
TEL Te Connectivity PLC 0.03% 3,603 $753K Reduce -97.4%
GS Goldman Sachs Group Inc. 0.03% 779 $659K Reduce -24.1%
E Eni SPA-Sponsored ADR 0.03% 10,480 $593K Reduce -39.6%
HLN Haleon PLC-ADR 0.02% 51,017 $511K Reduce -23.1%
IEI iShares 3-7 Year Treasury Bo 0.02% 4,139 $491K No change
MRVL Marvell Technology Inc. 0.02% 4,847 $480K Reduce -4.9%
AEG Aegon Ltd.-NY Reg SHR 0.02% 63,600 $462K No change
IEF iShares 7-10 Year Treasury B 0.02% 4,740 $452K Add +9.9%
CNI Canadian Natl Railway Co. 0.02% 3,985 $410K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.02% 2,056 $403K Reduce -77.5%
MGA Magna International Inc. 0.02% 6,545 $365K Reduce -22.8%
TSM Taiwan Semiconductor-SP ADR 0.02% 1,077 $364K Reduce -31.8%
IEUR iShares Core MSCI Europe ETF 0.02% 4,711 $331K Reduce -20.0%
WELL Welltower Inc. 0.02% 1,661 $328K No change
WMB Williams Cos Inc. 0.01% 4,319 $314K Reduce -38.8%
VEA Vanguard Ftse Developed ETF 0.01% 3,843 $246K Reduce -68.5%
NVS Novartis AG-Sponsored ADR 0.01% 1,426 $218K Reduce -32.5%
CTVA Corteva Inc. 0.01% 2,578 $216K Reduce -37.5%

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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 150$2.3BDAL, GOOGL, UNP, BMY, LH
Q1 2026 145$2.2BDAL, AMRZ, UNP, SLB, UBER
Q4 2025 146$2.2BGOOGL, ELV, AMRZ, UNP, CME
Q3 2025 140$2.2BFLUT, UBER, LH, MDT, UNP
Q2 2025 148$2.4BFLUT, UBER, DAL, LH, GOOGL
Q1 2025 154$2.4BUBER, CME, ELV, BMY, LH
Q4 2024 154$2.5BDAL, GOOGL, DEO, CME, LH
Q3 2024 147$2.6BDAL, DEO, CME, LH, MDT
Q2 2024 145$2.6BTXN, GOOGL, GS, CVE, CVX
Q1 2024 144$2.7BRTX, AXP, CVE, GS, CVX