Cambiar Plans to Keep Newly Spun-Off FedEx Freight Shares

Cambiar Opportunity Fund plans to retain FedEx Freight Holding Company, which it added during the second quarter of 2026. The fund also expects to keep Honeywell Aerospace, another spinoff, and both companies’ parent companies.

Cambiar described FedEx Freight as the largest pure-play less-than-truckload transport company. It sees potential for margin improvement if volumes in the company’s key business areas strengthen.

The fund said it typically sells spinoffs when their market value or position size is small. It expects to hold these new positions instead.

FedEx Freight closed at $109.38 on Sept. 30, with a reported market capitalization of $16.35 billion. The article said the shares had pulled back about 27.47% over three months and traded between $107.67 and $200 over the prior 52 weeks.

At 16:44 UTC on Oct. 1, FDXF traded at $110.42, up 0.95% from its previous close. Cambiar’s letter also reported an 11.58% second-quarter gain for the fund, below the Russell 1000 Value Index’s 13.87% rise, citing its underweight position in technology.