A tilting pad bearing for a high speed rotary machines, such as a turbocharger for an internal combustion engine, comprises a cage and a plurality of tilting pads. The cage is formed by two annular rings separated by spacers machined from a single billet of high-temperature metal. The bearing pads are inserted between the spacers of the cage. One or more O-rings retain the bearing pads within the cage during assembly of the bearing but are not required after installation of the bearing. When retained in the final assembly and installation of the bearing, the O-rings allow tilting movement of the pads within the cage. The outer surfaces of the spacers have a plurality of grooves, and outer surfaces of each of the pads have matching grooves. One of the grooves is an oil groove, wherein the oil groove of the spacers communicating with and oil inlet holes in the spacers. At least one of the other grooves receives an O-ring that hold the pads in place in the cage during installation. When two O-rings are used on either side of the oil groove in the final assembly, the O-rings serve to direct oil to the oil groove and prevent or reduce oil leakage.