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Livermore
Livermore
ZHEN

Cambiar Investors LLC

SEC CIK
0000823621
Latest filing
Jul 31, 2026

The latest 13F from Cambiar Investors LLC covers Q2 2026 (filed Jul 31, 2026): 150 long positions worth $2.30B. The top 10 holdings make up 25.5% of the portfolio, and the largest is Delta Air Lines, Inc. (DAL) at 2.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
11
Est. +$207.2M
Added
38
Est. +$127.1M
Reduced
95
Est. −$341.1M
Sold out
6
Est. −$104.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. DALDelta Air Lines, Inc.
    2.9%$66.4MHistory
  2. GOOGLAlphabet Inc.
    2.8%$63.5MHistory
  3. UNPUnion Pacific Corp
    2.7%$62.2MHistory
  4. BMYBristol Myers Squibb Co
    2.5%$58.6MHistory
  5. LHLabcorp Holdings Inc.
    2.5%$57.6MHistory

Share of portfolio

Top 5 holdings and the other 145 positions, by share of portfolio value

  1. DAL2.9%
  2. GOOGL2.8%
  3. UNP2.7%
  4. BMY2.5%
  5. LH2.5%
  6. Other 145 positions86.6%

Biggest buys

New and added positions, by estimated amount bought

  1. OMCOmnicom Group Inc.
    +$38.0MNewHistory
  2. CSCOCisco Systems, Inc.
    +$38.0MNewHistory
  3. FDXFFedEx Freight Holding Company, Inc.
    +$34.4MNewHistory
  4. ICEIntercontinental Exchange, Inc.
    +$32.2MNewHistory
  5. HONHoneywell International Inc
    +$29.7MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. OMCOmnicom Group Inc.
    +1.65 pp0.0% → 1.7%History
  2. CSCOCisco Systems, Inc.
    +1.65 pp0.0% → 1.6%History
  3. FDXFFedEx Freight Holding Company, Inc.
    +1.49 pp0.0% → 1.5%History
  4. ICEIntercontinental Exchange, Inc.
    +1.40 pp0.0% → 1.4%History
  5. HONHoneywell International Inc
    +1.29 pp0.0% → 1.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AMATApplied Materials Inc
    −$66.9MReducedHistory
  2. HONHoneywell International Inc
    −$57.3MSold outHistory
  3. TXNTexas Instruments Inc
    −$39.0MReducedHistory
  4. ELEstee Lauder Companies Inc
    −$33.5MReducedHistory
  5. CMCSAComcast Corp
    −$32.5MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. HONHoneywell International Inc
    −2.65 pp2.7% → 0.0%History
  2. SLBSLB Limited
    −1.58 pp2.7% → 1.1%History
  3. CMCSAComcast Corp
    −1.50 pp1.5% → 0.0%History
  4. ELEstee Lauder Companies Inc
    −1.41 pp1.4% → <0.1%History
  5. iShares Russell 1000 Value ETF464287598
    −0.78 pp1.4% → 0.6%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.30B
+$144.8M (+6.7%) vs. prior quarter
Positions
150
+5 vs. prior quarter
Top 10 concentration
25.5%
Top 10 as share of value
Turnover
15.0%
Q2 2026, one quarter
Average holding period
12.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.11B (Q2 2021)

Q1 2021: $2.87BQ2 2021: $3.11BQ3 2021: $2.92BQ4 2021: $2.91BQ1 2022: $2.66BQ2 2022: $2.25BQ3 2022: $1.98BQ4 2022: $2.19BQ1 2023: $2.32BQ2 2023: $2.37BQ3 2023: $2.35BQ4 2023: $2.54BQ1 2024: $2.68BQ2 2024: $2.56BQ3 2024: $2.60BQ4 2024: $2.52BQ1 2025: $2.36BQ2 2025: $2.38BQ3 2025: $2.20BQ4 2025: $2.24BQ1 2026: $2.16BQ2 2026: $2.30B
Q1 2021Q2 2026
13F filings of Cambiar Investors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 31, 2026150$2.30BDALGOOGLUNPvs. Q1 2026SEC
Q1 2026May 12, 2026145$2.16BDALAMRZUNPvs. Q4 2025SEC
Q4 2025Jan 23, 2026146$2.24BGOOGLELVAMRZvs. Q3 2025SEC
Q3 2025Nov 3, 2025140$2.20BFLUTUBERLHvs. Q2 2025SEC
Q2 2025Aug 5, 2025148$2.38BFLUTUBERDALvs. Q1 2025SEC
Q1 2025May 13, 2025154$2.36BUBERCMEELVvs. Q4 2024SEC
Q4 2024Jan 29, 2025154$2.52BDALGOOGLDEOvs. Q3 2024SEC
Q3 2024Oct 28, 2024147$2.60BDALDEOCMEvs. Q2 2024SEC
Q2 2024Jul 26, 2024145$2.56BTXNGOOGLGSvs. Q1 2024SEC
Q1 2024May 2, 2024144$2.68BRTXAXPCVEvs. Q4 2023SEC
Q4 2023Jan 25, 2024151$2.54BAXPGSRTXvs. Q3 2023SEC
Q3 2023Oct 30, 2023148$2.35BCVECVXSTZvs. Q2 2023SEC
Q2 2023Jul 31, 2023143$2.37BUBERTELSTZvs. Q1 2023SEC
Q1 2023May 8, 2023140$2.32BGOOGLJPMGSvs. Q4 2022SEC
Q4 2022Feb 2, 2023141$2.19BRTXJPMAXPvs. Q3 2022SEC
Q3 2022Oct 28, 2022143$1.98BCTVAMSIRTXvs. Q2 2022SEC
Q2 2022Aug 5, 2022146$2.25BGOOGLFWONKRTXvs. Q1 2022SEC
Q1 2022Apr 28, 2022139$2.66BAMZNGOOGLFWONKvs. Q4 2021SEC
Q4 2021Jan 27, 2022147$2.91BiShares MSCI Eafe ETFSONYGOOGLvs. Q3 2021SEC
Q3 2021Oct 22, 2021143$2.92BITUBGOOGLSAPvs. Q2 2021SEC
Q2 2021Aug 2, 2021145$3.11BBABASAPGOOGLvs. Q1 2021SEC
Q1 2021May 14, 2021146$2.87BBABAITUBSNN–SEC