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Smead Capital Management, Inc.
hedge fundUpdated 30 days agoManaged by Smead Capital Management, Inc. • Latest filing Q2 2026
Portfolio value
$4.7B
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
-3.1%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $5B |
| Q2 2023 | $5B |
| Q3 2023 | $4.9B |
| Q4 2023 | $5.6B |
| Q1 2024 | $6.4B |
| Q2 2024 | $6.4B |
| Q3 2024 | $7B |
| Q4 2024 | $6.5B |
| Q1 2025 | $5.8B |
| Q2 2025 | $5B |
| Q3 2025 | $5.2B |
| Q4 2025 | $4.8B |
| Q1 2026 | $4.6B |
| Q2 2026 | $4.7B |
Top holdings
32 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | C CVE CENOVUS ENERGY INC | $331.4M | 13.37M | 7.11% | — |
| 2 | S SPG-PJ SIMON PPTY GROUP INC NEW | $313M | 1.40M | 6.71% | — |
| 3 | M MRK MERCK & CO INC | $300M | 2.33M | 6.43% | — |
| 4 | M MAC MACERICH CO | $289.2M | 11.48M | 6.20% | — |
| 5 | A APA APA CORPORATION | $254.3M | 7.81M | 5.46% | — |
| 6 | A AMGN AMGEN INC | $238.7M | 659.2K | 5.12% | — |
| 7 | D DNP D R HORTON INC | $230.3M | 1.41M | 4.94% | — |
| 8 | A AXP AMERICAN EXPRESS CO | $192.5M | 569.1K | 4.13% | — |
| 9 | N NVR NVR INC | $192.5M | 28.2K | 4.13% | — |
| 10 | T TGT TARGET CORP | $184.2M | 1.41M | 3.95% | — |
| 11 | L LEN-B LENNAR CORP | $182.8M | 2.02M | 3.92% | — |
| 12 | F FITB-PK FIFTH THIRD BANCORP | $178.8M | 3.17M | 3.84% | — |
| 13 | F FANG DIAMONDBACK ENERGY INC | $177.5M | 1.01M | 3.81% | — |
| 14 | C COP CONOCOPHILLIPS | $164M | 1.58M | 3.52% | — |
| 15 | B BAC-PS BANK OF AMER CORP | $148.5M | 2.61M | 3.19% | — |
| 16 | O OXY-WT OCCIDENTAL PETE CORP | $140.4M | 2.89M | 3.01% | — |
| 17 | U UNH UNITEDHEALTH GROUP INC | $136.5M | 328.4K | 2.93% | — |
| 18 | W WAL-PA WESTERN ALLIANCE BANCORP | $131.1M | 1.59M | 2.81% | — |
| 19 | J JPM-PM JPMORGAN CHASE & CO | $128.6M | 392.9K | 2.76% | — |
| 20 | C CACC CREDIT ACCEP CORP MICH | $126.6M | 198.8K | 2.72% | — |