# Cambria Investment Management, L.P.

> Cambria Investment Management, L.P. is an SEC-registered investment advisory firm in Manhattan Beach, CA, registered since 2010, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 141600
- Filed as: CAMBRIA INVESTMENT MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Manhattan Beach, CA
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/141600
- AdvisorCensus page: https://advisorcensus.com/firm/cambria-investment-management-l-p-manhattan-beach-ca-141600

## Quick answers

**How is Cambria Investment Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Cambria Investment Management, L.P. reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Cambria Investment Management, L.P. located?**
Cambria Investment Management, L.P.'s principal office is in Manhattan Beach, CA, according to its Form ADV.

**Is Cambria Investment Management, L.P. registered with the SEC or a state?**
Cambria Investment Management, L.P. is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 141600.

**How much does Cambria Investment Management, L.P. manage?**
Cambria Investment Management, L.P. reports $3,581,297,788 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Cambria Investment Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Cambria Investment Management, L.P.: Regulatory assets under management: $878,844,784 in the October 2021 data and $3,581,297,788 in the October 2026 data, up 308%. Total employees: 7 in October 2021 and 16 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cambria Investment Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (177); investment companies (20); high net worth individuals (6).

**Which custodians does Cambria Investment Management, L.P. use?**
Cambria Investment Management, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Betterment Securities as a custodian holding 10% or more of its separately managed account assets.

**Does Cambria Investment Management, L.P. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/141600

**What changed in Cambria Investment Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 3 to 4. Regulatory assets under management went from $2,681,520,398 to $3,581,297,788 (+34%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Betterment Securities

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $3,581,297,788
- Discretionary: $3,581,297,788
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 177 | $26,418,969 |
| High net worth individuals | 6 | $8,799,286 |
| Investment companies | 20 | $3,546,079,533 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2010 (16 years)
- Employees: 16 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, CT, DC, FL, IL, LA, MA, NJ, NY, OH, PA, TX, VA, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [cambriafunds.com](https://cambriafunds.com)
- [cambriainvestments.com](https://cambriainvestments.com)
- [mebfaber.com](https://mebfaber.com)
- [shareholderyield.com](https://shareholderyield.com)
- [themebfabershow.com](https://themebfabershow.com)
- Facebook @cambriafunds
- Facebook @category
- Instagram @cambriafunds
- Instagram @mebfabershow
- LinkedIn @cambria-investment-management-inc-
- LinkedIn @mebanefaber
- TikTok @mebfabershow
- X @CambriaFunds
- X @CambriaSupport
- X @MebFaber
- YouTube @UCKvWzzrVUA_DSCoKXL6GU2w

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $878,844,784 | 7 | March 30, 2021 |
| October 2022 | $1,211,703,101 | 12 | March 30, 2022 |
| October 2023 | $1,867,139,474 | 11 | June 12, 2023 |
| October 2024 | $2,229,769,888 | 13 | March 28, 2024 |
| October 2025 | $2,681,520,398 | 13 | March 28, 2025 |
| October 2026 | $3,581,297,788 | 16 | March 27, 2026 |

Regulatory assets under management: $878,844,784 in the October 2021 data and $3,581,297,788 in the October 2026 data, up 308%.
Total employees: 7 in October 2021 and 16 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 3 to 4.
- Regulatory assets under management went from $2,681,520,398 to $3,581,297,788 (+34%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cambria Investment Management, L.P. (CRD 141600): Form ADV filing data as of October 2026.