Cambria Investment Management, L.P.
SEC Form 13F institutional filer · CIK 0001529389
13F-HR · 262 reported holdings · 2026-03-31
Reported long-US-equity value
$0.67B
Top-10 concentration
18.6%
Cambria Investment Management, L.P. — $666M AUM allocation strategy
Cambria Investment Management, L.P. files SEC Form 13F and reports $666M of long US equity value across 262 reported holdings for 2026-03-31.
Its largest sector bet is Financials 11.8%, followed by Energy 8.0% and Materials 4.6%.
The top 10 holdings account for 19% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Cambria Investment Management, L.P. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$666M
total across 262 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
19% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$BLK +200K sh · +$11.5M+$GM +122K sh · +$8.99M+$AIG +90.1K sh · +$318K
Biggest trims (shares)
−$SPGI −151K sh · −$9.23M−$DOW −138K sh · +$995K−$APA −129K sh · +$1.14M
Exited to nil (held last quarter, gone now)
$STLD ($8.82M last qtr)$PSX ($7.99M last qtr)$XLV ($765K last qtr)$XLK ($652K last qtr)$CPT ($560K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Asset Management & Custody Banks5.9%—
- Oil & Gas Exploration & Production4.5%—
- Integrated Oil & Gas2.0%—
- Gold1.6%—
- Pharmaceuticals1.6%—
- Oil & Gas Refining & Marketing1.5%—
- Fertilizers & Agricultural Chemicals1.5%—
- Life & Health Insurance1.5%—
- Other holdings80.0%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $IVZ | Invesco Ltd | 351K | $26.9M | -74.6K | 4.0% |
| $XOM | ExxonMobil Holdings Corporation | 77.5K | $13.1M | -22.6K | 2.0% |
| $BLK | BlackRock Inc | 203K | $12.3M | +200K | 1.9% |
| $NEM | Newmont Corporation | 101K | $11M | +6.54K | 1.6% |
| $PFE | Pfizer Inc | 374K | $10.5M | +6.46K | 1.6% |
| $VLO | Valero Energy Corporation | 41.3K | $10.2M | -10.7K | 1.5% |
| $APA | APA Corporation | 239K | $10.1M | -129K | 1.5% |
| $CF | CF Industries Holdings Inc | 77.1K | $10M | -33.3K | 1.5% |
| $AFL | AFLAC Incorporated | 91K | $9.98M | +9.96K | 1.5% |
| $L | Loews Corporation | 93.5K | $9.98M | +5.38K | 1.5% |
…and 252 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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