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SCM
Smead Capital Management Portfolio holdings
AUM
$4.6B
1-Year Est. Return
27.56%
This Fund
S&P 500
This Quarter
Est. Return
-2.07%
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
$4.99B
AUM Growth
-$839M
(-14%)
Cap. Flow
-$671M
Cap. Flow
% of AUM
-13.44%
Top 10 Holdings %
Top 10 Hldgs %
50.96%
Holding
37
New
3
Increased
6
Reduced
24
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondback Energy
FANG
|
+$146M |
| 2 |
UnitedHealth
UNH
|
+$96.5M |
| 3 |
Target
TGT
|
+$32.2M |
| 4 |
Cenovus Energy
CVE
|
+$26.7M |
| 5 |
U-Haul Holding Co Series N
UHAL.B
|
+$24.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Devon Energy
DVN
|
+$105M |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$101M |
| 3 |
American Express
AXP
|
+$96.7M |
| 4 |
JPMorgan Chase
JPM
|
+$86.5M |
| 5 |
Bank of America
BAC
|
+$84.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 23.55% |
| 2 | Consumer Discretionary | 22.87% |
| 3 | Financials | 20.27% |
| 4 | Healthcare | 11.91% |
| 5 | Real Estate | 11.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Devon Energy
DVN
$49.7B
| $76.4M | 1.53% |
2,400,686
-3,305,636
| -58% | -$105M |
|
27
M&T Bank
MTB
$36.1B
| $75.4M | 1.51% |
388,621
-51,757
| -12% | -$9.13M |
|
|
FITB
28
Fifth Third Bancorp
FITB
$51.7B
| $72M | 1.44% |
1,750,355
-233,184
| -12% | -$8.75M |
|
29
Frontline
FRO
$8.81B
| $9.75M | 0.2% |
590,266
-94,804
| -14% | -$1.61M |
|
30
West Fraser Timber
WFG
$5.47B
| $8.83M | 0.18% |
120,378
-571
| -0.5% | -$42.5K |
|
31
Occidental Petroleum Corp Warrants
OXY.WS
$32.2B
| $3.19M | 0.06% |
153,969
-730
| -0.5% | -$15.1K |
|
32
iShares Russell 1000 Value ETF
IWD
$83.2B
| $679K | 0.01% |
3,496
-2,944
| -46% | -$545K |
|
33
Vanguard Morningstar Value ETF
VTV
$191B
| $270K | 0.01% |
+1,530
| New | +$258K |
|
|
34
Berkshire Hathaway Class B
BRK.B
$1.13T
| – | – |
-189,065
| Closed | -$101M |
|
35
SiriusXM
SIRI
$10.1B
| – | – |
-2,450,931
| Closed | -$55.3M |
|
|
36
U-Haul Holding Co
UHAL
$14.7B
| – | – |
-209,649
| Closed | -$13.7M |
|
|
MRP
37
Millrose Properties Inc
MRP
$4.78B
| – | – |
-1,186,210
| Closed | -$31.4M |
|
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Smead Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, Smead Capital Management held 37 positions worth $4.99B, down 14% from $5.83B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Smead Capital Management withdrew a net $671M in Q2 2025, closing 4 positions and reducing 24 holdings. Its most notable exit was Berkshire Hathaway Class B, an estimated $101M position sold in full.
By sector, the portfolio is most concentrated in Energy at 24% of assets, down from 25% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Smead Capital Management opened a new position in Diamondback Energy worth $145M.
- Smead Capital Management's largest Q2 2025 buy was Diamondback Energy: 1,053,675 shares worth $145M.
- Smead Capital Management added most to Target in Q2 2025, an estimated $32.2M increase.
- Smead Capital Management's biggest Q2 2025 reduction was Devon Energy, cutting an estimated $105M.
- Smead Capital Management fully exited Berkshire Hathaway Class B in Q2 2025, selling an estimated $101M.
- Smead Capital Management's ten largest holdings make up 51% of its $4.99B portfolio in Q2 2025.
- Smead Capital Management opened 3 new positions and closed 4 in Q2 2025.
- Smead Capital Management's portfolio value fell 14% quarter-over-quarter to $4.99B.
Based on Smead Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.