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SCM
Smead Capital Management Portfolio holdings
AUM
$4.66B
1-Year Est. Return
41.77%
This Fund
S&P 500
1 Year Est. Return
+41.77%
AUM
$4.66B
AUM Growth
+$64.9M
(+1.4%)
Holding
33
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 | +$116M | |
| 2 | +$42.6M | |
| 3 | +$38.8M | |
| 4 |
Western Alliance Bancorporation
WAL
|
+$18.9M |
| 5 |
FITB
Fifth Third Bancorp
FITB
|
+$17.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 | +$102M | |
| 2 | +$70.3M | |
| 3 | +$41.3M | |
| 4 |
Simon Property Group
SPG
|
+$33M |
| 5 |
APA Corp
APA
|
+$17.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 23.37% |
| 2 | Financials | 20.85% |
| 3 | Consumer Discretionary | 19.76% |
| 4 | Healthcare | 16.38% |
| 5 | Real Estate | 12.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Cenovus Energy
CVE
$55.6B
| $331M | 7.11% |
13,370,631
-1,497,372
|
|
||
|
2
Simon Property Group
SPG
$71.4B
| $313M | 6.71% |
1,399,725
-160,135
|
|
||
3
Merck
MRK
$328B
| $300M | 6.43% |
2,334,468
-136,930
|
|
||
4
Macerich
MAC
$6.99B
| $289M | 6.2% |
11,481,712
-673,620
|
|
||
|
5
APA Corp
APA
$14B
| $254M | 5.46% |
7,808,568
-461,247
|
|
||
6
Amgen
AMGN
$225B
| $239M | 5.12% |
659,241
-38,678
|
|
||
7
D.R. Horton
DHI
$40.8B
| $230M | 4.94% |
1,414,221
-83,502
|
|
||
8
American Express
AXP
$232B
| $192M | 4.13% |
569,063
-33,580
|
|
||
9
NVR
NVR
$16.8B
| $192M | 4.13% |
28,248
+6,710
|
|
||
10
Target
TGT
$69.9B
| $184M | 3.95% |
1,409,966
-82,704
|
|
||
11
Lennar Class A
LEN
$20.5B
| $183M | 3.92% |
2,020,441
+434,216
|
|
||
|
FITB
12
Fifth Third Bancorp
FITB
$52.6B
| $179M | 3.84% |
3,171,824
+340,401
|
|
||
13
Diamondback Energy
FANG
$56.2B
| $178M | 3.81% |
1,009,989
-59,339
|
|
||
14
ConocoPhillips
COP
$153B
| $164M | 3.52% |
1,577,846
-93,457
|
|
||
15
Bank of America
BAC
$453B
| $149M | 3.19% |
2,606,833
-152,851
|
|
||
16
Occidental Petroleum
OXY
$58.5B
| $140M | 3.01% |
2,889,985
-205,550
|
|
||
17
UnitedHealth
UNH
$364B
| $136M | 2.93% |
328,414
-18,688
|
|
||
|
18
Western Alliance Bancorporation
WAL
$9.01B
| $131M | 2.81% |
1,594,678
+239,087
|
|
||
19
JPMorgan Chase
JPM
$971B
| $129M | 2.76% |
392,900
-23,194
|
|
||
20
Credit Acceptance
CACC
$5.99B
| $127M | 2.72% |
198,808
-11,662
|
|
||
21
U-Haul Holding Co Series N
UHAL.B
$12.7B
| $117M | 2.51% |
2,031,260
-115,165
|
|
||
22
Home Depot
HD
$342B
| $102M | 2.2% |
290,159
-17,180
|
|
||
23
eBay
EBAY
$45.5B
| $91.2M | 1.96% |
815,923
-955,571
|
|
||
24
Zoetis
ZTS
$30.4B
| $88.6M | 1.9% |
+1,233,210
|
|
||
25
M&T Bank
MTB
$36.6B
| $66.1M | 1.42% |
277,594
-16,275
|
|
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Smead Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Smead Capital Management held 33 positions worth $4.66B, up 1.4% from $4.6B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Smead Capital Management withdrew a net $194M in Q2 2026, closing 1 position and reducing 24 holdings. Its most notable exit was Qualcomm, an estimated $70.3M position sold in full.
By sector, the portfolio is most concentrated in Energy at 23% of assets, down from 30% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Smead Capital Management opened a new position in Zoetis worth $88.6M.
- Smead Capital Management's largest Q2 2026 buy was Zoetis: 1,233,210 shares worth $88.6M.
- Smead Capital Management added most to NVR in Q2 2026, an estimated $42.6M increase.
- Smead Capital Management's biggest Q2 2026 reduction was eBay, cutting an estimated $102M.
- Smead Capital Management fully exited Qualcomm in Q2 2026, selling an estimated $70.3M.
- Smead Capital Management's ten largest holdings make up 54% of its $4.66B portfolio in Q2 2026.
- Smead Capital Management opened 1 new position and closed 1 in Q2 2026.
- Smead Capital Management's portfolio value rose 1.4% quarter-over-quarter to $4.66B.
Based on Smead Capital Management's 13F filing for Q2 2026, filed 11 Aug 2026.