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Smead Capital Management Portfolio holdings

AUM $4.6B
1-Year Est. Return 27.56%
This Fund
S&P 500
This Quarter Est. Return
+4.11%
1 Year Est. Return
+27.56%
3 Year Est. Return
+64.97%
5 Year Est. Return
+125.46%
10 Year Est. Return
+462.58%
AUM
$5.04B
AUM Growth
+$18.5M
Cap. Flow
-$129M
Cap. Flow %
-2.57%
Top 10 Hldgs %
61.26%
Holding
29
New
–
Increased
6
Reduced
22
Closed
1

Top Buys

Rank Stock Value
1
DVN icon
Devon Energy
DVN
+$75.6M
2
APA icon
APA Corp
APA
+$37.1M
3
OVV icon
Ovintiv
OVV
+$36.8M
4
OXY.WS icon
Occidental Petroleum Corp Warrants
OXY.WS
+$107K
5
CVE icon
Cenovus Energy
CVE
+$86.4K

Top Sells

Rank Stock Value
1
CVX icon
Chevron
CVX
+$139M
2
NVR icon
NVR
NVR
+$78.5M
3
OXY icon
Occidental Petroleum
OXY
+$5.93M
4
LEN icon
Lennar Class A
LEN
+$5.06M
5
DHI icon
D.R. Horton
DHI
+$4.66M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 25.45%
2 Energy 23.01%
3 Financials 17.1%
4 Healthcare 13.01%
5 Real Estate 10.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OXY.WS icon
26
Occidental Petroleum Corp Warrants
OXY.WS
$32.6B
$10.8M 0.22%
290,115
+2,790
+1% +$107K
CVE icon
27
Cenovus Energy
CVE
$51.8B
$9.62M 0.19%
566,355
+5,131
+0.9% +$86.4K
FRO icon
28
Frontline
FRO
$8.8B
$6.75M 0.13%
468,869
+3,548
+0.8% +$53K
CVX icon
29
Chevron
CVX
$368B
– –
-851,066
Closed -$139M
1
2

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Smead Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, Smead Capital Management held 29 positions worth $5.04B, up 0.37% from $5.02B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Trading was light in Q2 2023: portfolio turnover was 3.4%. Smead Capital Management opened no new positions and exited 1, leaving the 29-position portfolio largely intact.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 24% a quarter earlier, followed by Energy and Financials.

  • Smead Capital Management added most to Devon Energy in Q2 2023, an estimated $75.6M increase.
  • Smead Capital Management's biggest Q2 2023 reduction was NVR, cutting an estimated $78.5M.
  • Smead Capital Management fully exited Chevron in Q2 2023, selling an estimated $139M.
  • Smead Capital Management's ten largest holdings make up 61% of its $5.04B portfolio in Q2 2023.
  • Smead Capital Management opened 0 new positions and closed 1 in Q2 2023.
  • Smead Capital Management's portfolio value rose 0.37% quarter-over-quarter to $5.04B.

Based on Smead Capital Management's 13F filing for Q2 2023, filed 11 Aug 2023.