Large Cap Value

The Cambiar Large Cap Value strategy is the firm's oldest strategy and utilizes a team approach to investing. Each member of the seven person investment team is then charged with finding the most compelling investment opportunities within their assigned sectors/industries. 

The team conducts a rigorous internal research process to identify companies that we believe possess an attractive risk-return profile – we believe the risk of capital loss is modest while the potential for outsized return is high.  Such scenarios are the result of price sensitivity at the point of purchase, as well as a non-consensus assessment of the true economic value of the company over a forward 1-2 year timeframe.

  • Portfolio was incepted in 1973.

  • The portfolio holds between 35-45 stocks.

  • Sector weights based on bottom-up fundamental, not index construction.

  • Invests in companies with a market cap larger than $5 billion.

Portfolio Manager

BrianB(2016) 

Brian M. Barish, CFA 

Performance Charts

The performance information depicted above represents the Cambiar Large Cap Value Composite (Institutional). Returns are presented gross (g) and net (n) of management fees. Gross and net returns have been reduced by transaction expenses. Net returns are also reduced by actual investment advisory fees and other expenses that may be incurred in the management of the account. Net of fees performance reflects a blended fee schedule of all accounts within the Large Cap Value Composite (Institutional). Cambiar clients may incur actual fee rates that are greater or less than the rate reflected in this performance summary. Results are reported in U.S. dollars.
Performance results for the Large Cap Value Composite (Institutional) are evaluated against the Russell 1000™ Value Index. The Russell 1000 Value Index is a float-adjusted, market capitalization weighted index of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values. The Russell 1000 Index measures the performance of the 1,000 largest companies in the Russell 3000 Index, which consists of 3,000 of the largest U.S. equities. Indices assume no management, custody, transaction or other expenses. The Russell 1000 Value Index is broadly based which reflect the overall market performance and Cambiar’s returns may not be correlated to the indices. Indices are unmanaged and one cannot invest directly in an index. Cambiar’s performance and the performance of the Russell 1000 Value Index include the reinvestment of all income. Past performance is no indication of future results. All information is provided for informational purposes only and should not be construed as an offer to buy or as a solicitation to buy or sell.  Performance is preliminary, please contact us for finalized figures. 

Portfolio Profile (as of 6.30.2018)

Top 10 Holdings % Weight
Occidental Petroleum 3.2
Wells Fargo 3.1
HP 3.1
Oracle 3.1
EOG Resources 3.1
Medtronic 3.0
Alphabet 3.0
Halliburton 3.0
Chevron 3.0
Biogen 3.0
% of Total 30.6
Attributes Cambiar Russell 1000V
Price/Earnings F1Y 14.2 14.0
Price/Book 2.1 2.0
Debt/Equity  1.2 0.9
EPS Growth  12.8 10.6
Dividend Yield 2.2 2.5
Market Cap Wtd Avg 106.2 B 115.6 B
Market Cap Median 44.7 B 10.0 B
Active Share 84.6  
Sector Weights   Cambiar Russell 1000V
Consumer Discretionary 1.8 8.3
Consumer Staples 16.1 7.3
Energy 14.2 11.1
Financials 18.5 23.3
Health Care 13.8 13.9
Industrials 7.7 7.7
Information Tech 16.1 10.0
Materials 0.0 4.1
Real Estate 1.8 4.9
Telecom Services 0.0 3.6
Utilities 2.0 5.7
Cash 8.2  
Risk Statistics* Cambiar Russell 1000V
Alpha 1.8 0.0
Beta 0.9 1.0
R-Squared 76.4 100.0
Sharpe Ratio 1.3 1.3
Standard Deviation     7.6 7.8
*Five Year    

 

Commentary

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Disclosure

Certain information contained in this communication constitutes “forward-looking statements”.  Due to market risk and uncertainties, actual events or results, or the actual performance of Cambiar’s client accounts may differ materially from that reflected or contemplated in such forward-looking statements. All information is provided for informational purposes only and should not be deemed as a recommendation to buy the securities mentioned. There is no guarantee that the opinions expressed herein will be valid beyond the date of this presentation.  There can be no assurance that the portfolio will continue to hold the same position in companies described herein, and the portfolio may change any portfolio position at any time. The specific securities identified and described do not represent all of the securities purchased, sold, or recommended by Cambiar and the reader should not assume that investments in the securities identified and discussed were or will be profitable.