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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
+17.1%
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
$5.58B
AUM Growth
+$684M
Cap. Flow
-$16.1M
Cap. Flow %
-0.29%
Top 10 Hldgs %
58.25%
Holding
34
New
4
Increased
16
Reduced
13
Closed
1

Top Buys

Rank Stock Value
1
WAL icon
Western Alliance Bancorporation
WAL
+$59.8M
2
MTB icon
M&T Bank
MTB
+$54.5M
3
FITB
Fifth Third Bancorp
FITB
+$54.2M
4
BAC icon
Bank of America
BAC
+$28.9M
5
DVN icon
Devon Energy
DVN
+$25M

Top Sells

Rank Stock Value
1
OXY icon
Occidental Petroleum
OXY
+$47.4M
2
COP icon
ConocoPhillips
COP
+$47.1M
3
PFE icon
Pfizer
PFE
+$46.4M
4
LEN icon
Lennar Class A
LEN
+$24.9M
5
DHI icon
D.R. Horton
DHI
+$24.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.69%
2 Energy 21.6%
3 Financials 20.68%
4 Real Estate 11.54%
5 Healthcare 11.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LEN icon
1
Lennar Class A
LEN
$20.4B
$404M 7.24%
2,801,310
-206,680
-7% -$24.9M
DHI icon
2
D.R. Horton
DHI
$41B
$395M 7.08%
2,602,172
-201,402
-7% -$24.8M
OXY icon
3
Occidental Petroleum
OXY
$57B
$359M 6.43%
6,012,879
-776,324
-11% -$47.4M
SPG icon
4
Simon Property Group
SPG
$74.5B
$328M 5.88%
2,300,976
-38,930
-2% -$4.71M
MRK icon
5
Merck
MRK
$324B
$319M 5.71%
2,922,472
+11,572
+0.4% +$1.2M
MAC icon
6
Macerich
MAC
$7.32B
$316M 5.67%
20,504,170
-173,043
-0.8% -$2.06M
AXP icon
7
American Express
AXP
$223B
$315M 5.64%
1,682,262
-75,946
-4% -$12.2M
AMGN icon
8
Amgen
AMGN
$203B
$297M 5.31%
1,029,768
-80,556
-7% -$21.9M
NVR icon
9
NVR
NVR
$17.2B
$276M 4.95%
39,481
+277
+0.7% +$1.71M
OVV icon
10
Ovintiv
OVV
$17.5B
$243M 4.34%
5,524,510
-5
-0% -$228
JPM icon
11
JPMorgan Chase
JPM
$939B
$237M 4.24%
1,391,211
+9,782
+0.7% +$1.48M
BAC icon
12
Bank of America
BAC
$435B
$234M 4.2%
6,963,932
+994,072
+17% +$28.9M
COP icon
13
ConocoPhillips
COP
$147B
$224M 4.01%
1,929,476
-402,749
-17% -$47.1M
APA icon
14
APA Corp
APA
$12.8B
$188M 3.36%
5,235,957
+626,460
+14% +$23.7M
DVN icon
15
Devon Energy
DVN
$51.9B
$173M 3.09%
3,811,292
+546,433
+17% +$25M
HD icon
16
Home Depot
HD
$332B
$157M 2.81%
453,225
+3,170
+0.7% +$982K
TGT icon
17
Target
TGT
$62.1B
$156M 2.8%
1,096,533
-154,671
-12% -$18.9M
UHAL.B icon
18
U-Haul Holding Co Series N
UHAL.B
$12.2B
$146M 2.62%
2,077,500
-38,753
-2% -$2.11M
EBAY icon
19
eBay
EBAY
$48.6B
$143M 2.55%
3,270,059
+22,959
+0.7% +$950K
WBD icon
20
Warner Bros
WBD
$64.6B
$114M 2.04%
10,017,847
-1,805,375
-15% -$19.5M
QCOM icon
21
Qualcomm
QCOM
$176B
$108M 1.94%
747,576
+5,230
+0.7% +$648K
CACC icon
22
Credit Acceptance
CACC
$6B
$97.2M 1.74%
182,486
-653
-0.4% -$294K
WAL icon
23
Western Alliance Bancorporation
WAL
$9.07B
$78M 1.4%
+1,184,936
New +$59.8M
FITB
24
Fifth Third Bancorp
FITB
$52B
$67.4M 1.21%
+1,952,849
New +$54.2M
BRK.B icon
25
Berkshire Hathaway Class B
BRK.B
$1.07T
$66.4M 1.19%
186,121
+1,307
+0.7% +$459K
1
2

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Smead Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Smead Capital Management held 34 positions worth $5.58B, up 14% from $4.9B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Smead Capital Management's Q4 2023 filing shows 4 new, 16 increased, 13 reduced and 1 closed positions. Its largest new stake was Western Alliance Bancorporation: 1,184,936 shares worth $78M. The largest sale was Occidental Petroleum, an estimated $47.4M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 23% a quarter earlier, followed by Energy and Financials.

  • Smead Capital Management's largest Q4 2023 buy was Western Alliance Bancorporation: 1,184,936 shares worth $78M.
  • Smead Capital Management added most to Bank of America in Q4 2023, an estimated $28.9M increase.
  • Smead Capital Management's biggest Q4 2023 reduction was Occidental Petroleum, cutting an estimated $47.4M.
  • Smead Capital Management fully exited Pfizer in Q4 2023, selling an estimated $46.4M.
  • Smead Capital Management's ten largest holdings make up 58% of its $5.58B portfolio in Q4 2023.
  • Smead Capital Management opened 4 new positions and closed 1 in Q4 2023.
  • Smead Capital Management's portfolio value rose 14% quarter-over-quarter to $5.58B.

Based on Smead Capital Management's 13F filing for Q4 2023, filed 31 Jan 2024.