CAMBIAR INVESTORS LLC recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Cambiar Investors is an investment management company based out of Denver, Colorado. The company was founded in 1973 and is currently headed by Brian M. Barish, who holds a variety of roles including being the President, Chief Investment Officer, and Director of Research in the company. The company currently has 45 employees with 11 of them being investment professionals. Cambiar Investors conducts its research in house and focuses on attention on individual companies rather than industries, utilizing a fundamental analysis and a bottom up investment approach. The company conducts business through active management, focusing on understanding where “value is eroding and accumulating within their assigned sectors” in order to be able to capitalize on the short sighted short-term market with its long term approach. Cambiar Investors invests most heavily in the finance sector, which alone makes up approximately a quarter of its total asset allocations, and the firm also invests in the consumer discretionary, information technology, health care, industrials, and utilities and telecommunications sectors, among others to a lesser degree in order of decreasing allocation. Cambiar Investors currently has over $9.2 billion in total assets under management spread across over 12,700 accounts, of which over 8,100 are discretionary accounts, making up the bulk $8.3 billion of its held assets, and 4,600 are non-discretionary accounts, making up the remaining $800 million of its assets. Although its total number of held accounts has been volatile in recent years, its total assets under management has been steadily increasing, growing from $4 billion in 2010 to well over twice that amount today. Cambiar Investors mainly caters to individuals, which alone makes up almost three quarters of its entire client base, and the firm also caters to a variety of other clientele. The company current offers a variety of mutual funds including its Global Select, Large Cap Value, SMID Value, International Equity, and Aggressive Value strategies.
As of the latest 13F report, the guru’s equity portfolio contained 146 stocks valued at a total of $2.25Bil. The top holdings were GOOGL(2.86%), FWONK(2.52%), and RTX(2.47%).
According to GuruFocus data, these were CAMBIAR INVESTORS LLC’s top five trades of the quarter.
Liberty Formula One Group
The guru established a new position worth 1,035,518 shares in NAS:FWONK, giving the stock a 2.72% weight in the equity portfolio. Shares traded for an average price of $61.63 during the quarter.
On 08/05/2022, Liberty Formula One Group traded for a price of $62.975 per share and a market cap of $14.43Bil. The stock has returned 32.50% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Liberty Formula One Group has a price-book ratio of 2.12, a EV-to-Ebitda ratio of 49.18 and a price-sales ratio of 5.89.
The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 6.
Smith & Nephew PLC
CAMBIAR INVESTORS LLC reduced their investment in NYSE:SNN by 1,952,414 shares. The trade had a 2.32% impact on the equity portfolio. During the quarter, the stock traded for an average price of $33.57.
On 08/05/2022, Smith & Nephew PLC traded for a price of $25.98 per share and a market cap of $11.29Bil. The stock has returned -31.20% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Smith & Nephew PLC has a price-earnings ratio of 24.34, a price-book ratio of 2.12, a EV-to-Ebitda ratio of 11.70 and a price-sales ratio of 2.30.
The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 8.
Canadian National Railway Co
The guru established a new position worth 450,599 shares in NYSE:CNI, giving the stock a 2.27% weight in the equity portfolio. Shares traded for an average price of $124.98 during the quarter.
On 08/05/2022, Canadian National Railway Co traded for a price of $126.565 per share and a market cap of $86.31Bil. The stock has returned 18.09% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Canadian National Railway Co has a price-earnings ratio of 22.27, a price-book ratio of 5.12, a price-earnings-to-growth (PEG) ratio of 4.05, a EV-to-Ebitda ratio of 14.15 and a price-sales ratio of 7.39.
The price-to-GF Value ratio is 1.04, earning the stock a GF Value rank of 5.
Agnico Eagle Mines Ltd
The guru established a new position worth 893,011 shares in NYSE:AEM, giving the stock a 2.06% weight in the equity portfolio. Shares traded for an average price of $54.09 during the quarter.
On 08/05/2022, Agnico Eagle Mines Ltd traded for a price of $43.095 per share and a market cap of $19.61Bil. The stock has returned -28.01% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Agnico Eagle Mines Ltd has a price-earnings ratio of 24.66, a price-book ratio of 1.20, a price-earnings-to-growth (PEG) ratio of 1.66, a EV-to-Ebitda ratio of 10.09 and a price-sales ratio of 2.94.
The price-to-GF Value ratio is 0.63, earning the stock a GF Value rank of 8.
Humana Inc
The guru established a new position worth 124,242 shares in NYSE:HUM, giving the stock a 2.03% weight in the equity portfolio. Shares traded for an average price of $417.95 during the quarter.
On 08/05/2022, Humana Inc traded for a price of $483.11 per share and a market cap of $60.78Bil. The stock has returned 16.19% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Humana Inc has a price-earnings ratio of 19.60, a price-book ratio of 3.92, a price-earnings-to-growth (PEG) ratio of 1.18, a EV-to-Ebitda ratio of 13.56 and a price-sales ratio of 0.69.
The price-to-GF Value ratio is 0.95, earning the stock a GF Value rank of 6.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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