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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
+11.33%
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
$5.18B
AUM Growth
+$182M
Cap. Flow
-$341M
Cap. Flow %
-6.58%
Top 10 Hldgs %
52.08%
Holding
34
New
1
Increased
3
Reduced
27
Closed
–

Top Buys

Rank Stock Value
1
CROX icon
Crocs
CROX
+$57.9M
2
FANG icon
Diamondback Energy
FANG
+$36.8M
3
UNH icon
UnitedHealth
UNH
+$23.5M
4
IWD icon
iShares Russell 1000 Value ETF
IWD
+$400K

Top Sells

Rank Stock Value
1
EBAY icon
eBay
EBAY
+$67.1M
2
OVV icon
Ovintiv
OVV
+$36.6M
3
DVN icon
Devon Energy
DVN
+$31.4M
4
SPG icon
Simon Property Group
SPG
+$25.3M
5
DHI icon
D.R. Horton
DHI
+$22.1M

Sector Composition

Rank Sector Weight
1 Energy 24.39%
2 Consumer Discretionary 24.29%
3 Financials 19.15%
4 Real Estate 12.19%
5 Healthcare 11.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPG icon
1
Simon Property Group
SPG
$74.5B
$359M 6.94%
1,915,505
-146,514
-7% -$25.3M
DHI icon
2
D.R. Horton
DHI
$41B
$312M 6.02%
1,839,163
-140,682
-7% -$22.1M
CVE icon
3
Cenovus Energy
CVE
$54.6B
$278M 5.38%
16,389,740
-1,162,335
-7% -$18.1M
AXP icon
4
American Express
AXP
$223B
$273M 5.27%
821,852
-62,880
-7% -$20M
MAC icon
5
Macerich
MAC
$7.32B
$272M 5.25%
14,931,924
-1,142,078
-7% -$19.8M
MRK icon
6
Merck
MRK
$324B
$255M 4.92%
3,034,674
-232,644
-7% -$19.2M
APA icon
7
APA Corp
APA
$12.8B
$247M 4.77%
10,161,573
-779,656
-7% -$16.5M
LEN icon
8
Lennar Class A
LEN
$20.4B
$246M 4.75%
1,948,849
-149,057
-7% -$18.5M
AMGN icon
9
Amgen
AMGN
$203B
$242M 4.67%
857,384
-65,584
-7% -$19M
NVR icon
10
NVR
NVR
$17.2B
$213M 4.11%
26,462
-2,024
-7% -$16.1M
EBAY icon
11
eBay
EBAY
$48.6B
$198M 3.82%
2,173,735
-758,661
-26% -$67.1M
JPM icon
12
JPMorgan Chase
JPM
$939B
$190M 3.67%
601,947
-46,056
-7% -$13.7M
FANG icon
13
Diamondback Energy
FANG
$57.6B
$188M 3.63%
1,312,413
+258,738
+25% +$36.8M
OXY icon
14
Occidental Petroleum
OXY
$57B
$179M 3.46%
3,787,043
-284,662
-7% -$12.9M
BAC icon
15
Bank of America
BAC
$435B
$175M 3.38%
3,389,427
-259,344
-7% -$12.7M
COP icon
16
ConocoPhillips
COP
$147B
$166M 3.2%
1,753,485
-133,960
-7% -$12.7M
TGT icon
17
Target
TGT
$62.1B
$164M 3.17%
1,830,431
-142,682
-7% -$14M
HD icon
18
Home Depot
HD
$332B
$153M 2.95%
377,406
-28,867
-7% -$11.4M
OVV icon
19
Ovintiv
OVV
$17.5B
$140M 2.7%
3,459,320
-896,260
-21% -$36.6M
UHAL.B icon
20
U-Haul Holding Co Series N
UHAL.B
$12.2B
$134M 2.59%
2,636,827
-205,556
-7% -$10.9M
WAL icon
21
Western Alliance Bancorporation
WAL
$9.07B
$116M 2.23%
1,333,236
-102,011
-7% -$8.65M
UNH icon
22
UnitedHealth
UNH
$382B
$114M 2.2%
330,118
+77,680
+31% +$23.5M
QCOM icon
23
Qualcomm
QCOM
$176B
$112M 2.15%
670,386
-51,293
-7% -$8.14M
CACC icon
24
Credit Acceptance
CACC
$6B
$94M 1.82%
201,402
-15,409
-7% -$7.69M
ULTA icon
25
Ulta Beauty
ULTA
$20.4B
$83.9M 1.62%
153,423
-11,735
-7% -$6.01M
1
2

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Smead Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Smead Capital Management held 34 positions worth $5.18B, up 3.6% from $4.99B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Smead Capital Management withdrew a net $341M in Q3 2025, reducing 27 holdings. Its largest reduction was eBay, cutting an estimated $67.1M.

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

Against the trend, Smead Capital Management opened a new position in Crocs worth $53M.

  • Smead Capital Management's largest Q3 2025 buy was Crocs: 634,082 shares worth $53M.
  • Smead Capital Management added most to Diamondback Energy in Q3 2025, an estimated $36.8M increase.
  • Smead Capital Management's biggest Q3 2025 reduction was eBay, cutting an estimated $67.1M.
  • Smead Capital Management's ten largest holdings make up 52% of its $5.18B portfolio in Q3 2025.
  • Smead Capital Management opened 1 new position and closed 0 in Q3 2025.
  • Smead Capital Management's portfolio value rose 3.6% quarter-over-quarter to $5.18B.

Based on Smead Capital Management's 13F filing for Q3 2025, filed 10 Nov 2025.