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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 icon
1
Occidental Petroleum
OXY
$57B
$412M 8.19%
7,010,978
-98,790
-1% -$5.93M
LEN icon
2
Lennar Class A
LEN
$20.4B
$377M 7.5%
3,111,940
-46,338
-1% -$5.06M
DHI icon
3
D.R. Horton
DHI
$41B
$353M 7.01%
2,900,578
-42,617
-1% -$4.66M
MRK icon
4
Merck
MRK
$324B
$347M 6.9%
3,010,773
-37,019
-1% -$4.2M
AXP icon
5
American Express
AXP
$223B
$317M 6.29%
1,818,692
-24,480
-1% -$3.95M
SPG icon
6
Simon Property Group
SPG
$74.5B
$279M 5.55%
2,419,000
-38,290
-2% -$4.17M
NVR icon
7
NVR
NVR
$17.2B
$257M 5.1%
40,468
-13,487
-25% -$78.5M
AMGN icon
8
Amgen
AMGN
$203B
$255M 5.06%
1,148,553
-13,398
-1% -$3.11M
COP icon
9
ConocoPhillips
COP
$147B
$250M 4.96%
2,412,407
-39,414
-2% -$4.05M
MAC icon
10
Macerich
MAC
$7.32B
$237M 4.7%
21,018,847
-371,951
-2% -$3.79M
JPM icon
11
JPMorgan Chase
JPM
$939B
$207M 4.12%
1,425,683
-20,439
-1% -$2.81M
OVV icon
12
Ovintiv
OVV
$17.5B
$205M 4.07%
5,388,499
+1,017,194
+23% +$36.8M
BAC icon
13
Bank of America
BAC
$435B
$177M 3.51%
6,162,605
-105,458
-2% -$3.01M
TGT icon
14
Target
TGT
$62.1B
$170M 3.38%
1,291,467
-20,867
-2% -$3.1M
WBD icon
15
Warner Bros
WBD
$64.6B
$153M 3.04%
12,204,429
-203,453
-2% -$2.64M
APA icon
16
APA Corp
APA
$12.8B
$152M 3.01%
4,441,563
+1,064,198
+32% +$37.1M
EBAY icon
17
eBay
EBAY
$48.6B
$150M 2.97%
3,351,406
-49,781
-1% -$2.21M
HD icon
18
Home Depot
HD
$332B
$144M 2.87%
464,552
-7,733
-2% -$2.28M
DVN icon
19
Devon Energy
DVN
$51.9B
$123M 2.45%
2,550,354
+1,502,925
+143% +$75.6M
UHAL.B icon
20
U-Haul Holding Co Series N
UHAL.B
$12.2B
$108M 2.14%
2,126,818
-12,515
-0.6% -$655K
CACC icon
21
Credit Acceptance
CACC
$6B
$95M 1.89%
187,007
-2,389
-1% -$1.12M
QCOM icon
22
Qualcomm
QCOM
$176B
$91.2M 1.81%
766,223
-13,477
-2% -$1.55M
BRK.B icon
23
Berkshire Hathaway Class B
BRK.B
$1.07T
$65M 1.29%
190,736
-2,882
-1% -$941K
PFE icon
24
Pfizer
PFE
$140B
$52.9M 1.05%
1,442,447
-21,992
-2% -$856K
UHAL icon
25
U-Haul Holding Co
UHAL
$14B
$30.4M 0.6%
550,215
-27,840
-5% -$1.63M
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.