Cambiar SMID Fund, managed by Cambiar Investors, published its Q1 2026 investor letter. The investor class (CAMMX) returned 2.21%, and the institutional class (CAMUX) returned 2.27%, underperforming the Russell 2500 Value Index’s 4.77%. This shortfall was mainly due to declines in certain healthcare and industrial positions and lower exposure to the top-performing Energy sector. The broader US equity market saw mixed results, with the S&P Index down 4.3% and the Russell 2000 up 0.9%....
