Smead Value Fund | SMVLXMutual Fund | |
Smead Value Fund | |
Last update 2024-01-23 | 27 Stocks (3 new) |
Value $4.43 Bil | Turnover 5 % |
Portfolio Report |
Smead Value Fund Profile
Smead Capital Management is the adviser to the Smead Value Fund. Smead Capital Management’s investors are individuals, advisors, family offices and institutions globally who invest with the firm through the Smead Funds, separate accounts and other investment vehicles. The Fund invests in U.S. large capitalization companies and offers an Investor Share Class (SMVLX), A Share Class (SVFAX), C Share Class (SVFCX), I1 Share Class (SVFFX), R1 Share Class (SVFDX), R2 Share Class (SVFKX) and Y Share Class (SVFYX). The Fund is managed by Lead Portfolio Manager Bill Smead and Co-Portfolio Managers Tony Scherrer, CFA and Cole Smead, CFA.
Smead Value Fund Investing Philosophy
The Fund seeks long-term capital appreciation through concentrated positions, with approximately 25-30 companies in its portfolio. Smead looks for eight criteria: meets an economic need, strong competitive advantage (wide moats or barriers to entry), long history of profitability and strong operating metrics, generates high levels of free cash flow, available at a low price in relation to intrinsic value, management’s history of shareholder friendliness, strong balance sheet, and strong insider ownership (Preferably with recent purchases).
Smead Value Fund Portfolio and Latest Trades
Ticker |
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Ticker |
OXY |
WAL |
COP |
FITB |
MTB |
PFE |
LEN |
DHI |
AMGN |
DVN |
WBD |
APA |
TGT |
AXP |
BAC |
SPG |
MRK |
NVR |
MAC |
JPM |
EBAY |
HD |
UHAL.B |
OVV |
CACC |
QCOM |
BRK.B |
UHAL |
DVN |
OXY |
LEN |
DHI |
AXP |
COP |
MRK |
AMGN |
MAC |
NVR |
SPG |
OVV |
APA |
JPM |
WBD |
UHAL.B |
TGT |
EBAY |
BAC |
HD |
QCOM |
CACC |
PFE |
BRK.B |
UHAL |
CVX |
DVN |
NVR |
APA |
OVV |
UHAL.B |
MRK |
DHI |
AMGN |
LEN |
OXY |
SPG |
AXP |
TGT |
MAC |
UHAL |
BAC |
WBD |
JPM |
CACC |
EBAY |
HD |
QCOM |
COP |
PFE |
BRK.B |
APA |
WBD |
BAC |
OVV |
OXY |
LEN |
MRK |
SPG |
AXP |
COP |
DHI |
NVR |
AMGN |
JPM |
TGT |
MAC |
EBAY |
CVX |
HD |
UHAL.B |
QCOM |
Ticker | | Company | Date | Action | Impact % | Price Range | Price | Price Change from Avrg% | Comment | Current Shares | Share Change |
---|---|---|---|---|---|---|---|---|---|---|---|
Ticker | | Company | Date | Action | Impact % | Price Range | Price | Price Change from Avrg% | Comment | Current Shares | Share Change |
OXY | Occidental Petroleum Corp | 2023-11-30 | Reduce | -1.24% | 59.15 ($63.04) 67.3 | $64.20 | 1.84% | Reduce -14.99% | 5,209,637 | -918,825 | |
WAL | Western Alliance Bancorp | 2023-11-30 | New Buy | +1.21% | 40.1 ($46.12) 51.39 | $64.22 | 39.25% | New holding | 1,049,360 | 1,049,360 | |
COP | ConocoPhillips | 2023-11-30 | Reduce | -1.16% | 111.99 ($119.31) 126.59 | $126.84 | 6.31% | Reduce -20.98% | 1,707,805 | -453,520 | |
FITB | Fifth Third Bancorp | 2023-11-30 | New Buy | +1.13% | 22.89 ($25.67) 28.95 | $36.74 | 43.12% | New holding | 1,729,502 | 1,729,502 | |
MTB | M&T Bank Corp | 2023-11-30 | New Buy | +1.11% | 108.94 ($122.3) 129.61 | $144.80 | 18.40% | New holding | 383,863 | 383,863 | |
PFE | Pfizer Inc | 2023-11-30 | Sold Out | -0.99% | 28.98 ($32.02) 35.78 | $27.78 | -13.24% | Sold Out | 0 | -1,292,486 | |
LEN | Lennar Corp | 2023-11-30 | Reduce | -0.76% | 103.07 ($115.64) 128.3 | $168.50 | 45.71% | Reduce -10.97% | 2,402,370 | -296,138 | |
DHI | D.R. Horton Inc | 2023-11-30 | Reduce | -0.75% | 100.66 ($113.29) 128.9 | $162.05 | 43.04% | Reduce -11.26% | 2,305,579 | -292,481 | |
AMGN | Amgen Inc | 2023-11-30 | Reduce | -0.65% | 249.01 ($267.71) 286.88 | $286.31 | 6.95% | Reduce -11.36% | 912,041 | -116,917 | |
DVN | Devon Energy Corp | 2023-11-30 | Add | +0.62% | 42.85 ($47.42) 53.5 | $49.46 | 4.30% | Add 22.18% | 3,383,280 | 614,228 | |
WBD | Warner Bros. Discovery Inc | 2023-11-30 | Reduce | -0.58% | 9.4 ($10.76) 13.14 | $8.63 | -19.80% | Reduce -18.75% | 8,882,138 | -2,050,360 | |
APA | APA Corp | 2023-11-30 | Add | +0.54% | 35.85 ($40.09) 45.32 | $33.71 | -15.91% | Add 16.75% | 4,644,794 | 666,501 | |
TGT | Target Corp | 2023-11-30 | Reduce | -0.53% | 105.01 ($116.24) 133.81 | $174.67 | 50.27% | Reduce -16.91% | 961,328 | -195,618 | |
AXP | American Express Co | 2023-11-30 | Reduce | -0.46% | 141.31 ($154.16) 170.77 | $227.75 | 47.74% | Reduce -8.23% | 1,495,307 | -134,032 | |
BAC | Bank of America Corp | 2023-11-30 | Add | +0.44% | 25.17 ($27.83) 30.49 | $37.81 | 35.86% | Add 11.73% | 6,167,320 | 647,255 | |
SPG | Simon Property Group Inc | 2023-11-30 | Reduce | -0.32% | 103.37 ($112.76) 124.89 | $154.33 | 36.87% | Reduce -6.04% | 2,037,652 | -130,946 | |
MRK | Merck & Co Inc | 2023-11-30 | Reduce | -0.26% | 100.18 ($104.19) 109.84 | $131.75 | 26.45% | Reduce -4.08% | 2,587,643 | -109,944 | |
NVR | NVR Inc | 2023-11-30 | Reduce | -0.18% | 5377.29 ($5986.85) 6509.35 | $7,980.74 | 33.30% | Reduce -3.53% | 34,971 | -1,281 | |
MAC | Macerich Co | 2023-11-30 | Reduce | -0.17% | 9.71 ($11) 12.23 | $17.09 | 55.36% | Reduce -3.53% | 18,161,584 | -665,245 | |
JPM | JPMorgan Chase & Co | 2023-11-30 | Reduce | -0.14% | 135.69 ($146.15) 156.08 | $199.52 | 36.52% | Reduce -3.53% | 1,232,267 | -45,110 | |
EBAY | eBay Inc | 2023-11-30 | Reduce | -0.10% | 37.99 ($41.87) 45.1 | $51.93 | 24.03% | Reduce -3.53% | 2,896,462 | -106,057 | |
HD | The Home Depot Inc | 2023-11-30 | Reduce | -0.10% | 276.46 ($302.93) 333.08 | $385.89 | 27.39% | Reduce -3.53% | 401,446 | -14,704 | |
UHAL.B | U-Haul Holding Co | 2023-11-30 | Reduce | -0.08% | 46.65 ($51.58) 54.85 | $65.49 | 26.97% | Reduce -3.45% | 1,840,476 | -65,683 | |
OVV | Ovintiv Inc | 2023-11-30 | Add | +0.07% | 43.85 ($46.92) 51.28 | $51.36 | 9.46% | Add 1.54% | 4,900,736 | 74,185 | |
CACC | Credit Acceptance Corp | 2023-11-30 | Reduce | -0.06% | 397.06 ($447.24) 510.19 | $551.60 | 23.33% | Reduce -3.54% | 161,636 | -5,929 | |
QCOM | Qualcomm Inc | 2023-11-30 | Reduce | -0.06% | 104.78 ($115.03) 129.51 | $169.12 | 47.02% | Reduce -3.53% | 662,170 | -24,237 | |
BRK.B | Berkshire Hathaway Inc | 2023-11-30 | Reduce | -0.05% | 331.71 ($353.13) 370.48 | $416.93 | 18.07% | Reduce -3.53% | 164,856 | -6,036 | |
UHAL | U-Haul Holding Co | 2023-11-30 | Reduce | -0.02% | 48.72 ($54.5) 58.54 | $66.31 | 21.67% | Reduce -3.85% | 473,200 | -18,934 | |
DVN | Devon Energy Corp | 2023-08-31 | Add | +0.56% | 46.78 ($49.95) 54 | $49.46 | -0.98% | Add 22.46% | 2,769,052 | 507,938 | |
OXY | Occidental Petroleum Corp | 2023-08-31 | Add | +0.08% | 56.07 ($60.75) 65.84 | $64.20 | 5.68% | Add 1.03% | 6,128,462 | 62,422 | |
LEN | Lennar Corp | 2023-08-31 | Add | +0.07% | 108.14 ($121.94) 133.24 | $168.50 | 38.18% | Add 1.03% | 2,698,508 | 27,504 | |
DHI | D.R. Horton Inc | 2023-08-31 | Add | +0.07% | 108.48 ($120.89) 131 | $162.05 | 34.05% | Add 1.03% | 2,598,060 | 26,432 | |
AXP | American Express Co | 2023-08-31 | Add | +0.06% | 157.79 ($168.02) 178.04 | $227.75 | 35.55% | Add 1.03% | 1,629,339 | 16,603 | |
COP | ConocoPhillips | 2023-08-31 | Add | +0.06% | 99.53 ($109.84) 119.03 | $126.84 | 15.48% | Add 1.03% | 2,161,325 | 21,985 | |
MRK | Merck & Co Inc | 2023-08-31 | Add | +0.06% | 105 ($109.24) 115.39 | $131.75 | 20.61% | Add 1.03% | 2,697,587 | 27,477 | |
AMGN | Amgen Inc | 2023-08-31 | Add | +0.06% | 214.27 ($236.66) 266.01 | $286.31 | 20.98% | Add 1.03% | 1,028,958 | 10,464 | |
MAC | Macerich Co | 2023-08-31 | Add | +0.05% | 9.49 ($11.69) 12.9 | $17.09 | 46.19% | Add 1.03% | 18,826,829 | 191,809 | |
NVR | NVR Inc | 2023-08-31 | Add | +0.05% | 5570.61 ($6155.25) 6466 | $7,980.74 | 29.66% | Add 1.03% | 36,252 | 368 | |
SPG | Simon Property Group Inc | 2023-08-31 | Add | +0.05% | 103.4 ($116.14) 125.44 | $154.33 | 32.88% | Add 1.03% | 2,168,598 | 22,058 | |
OVV | Ovintiv Inc | 2023-08-31 | Add | +0.05% | 34.09 ($41.89) 48.96 | $51.36 | 22.61% | Add 1.03% | 4,826,551 | 49,177 | |
APA | APA Corp | 2023-08-31 | Add | +0.04% | 32.04 ($38.19) 44.88 | $33.71 | -11.73% | Add 1.03% | 3,978,293 | 40,453 | |
JPM | JPMorgan Chase & Co | 2023-08-31 | Add | +0.04% | 137.58 ($148.03) 158 | $199.52 | 34.78% | Add 1.03% | 1,277,377 | 13,004 | |
WBD | Warner Bros. Discovery Inc | 2023-08-31 | Add | +0.03% | 11.35 ($12.89) 14.47 | $8.63 | -33.05% | Add 1.03% | 10,932,498 | 111,343 | |
UHAL.B | U-Haul Holding Co | 2023-08-31 | Add | +0.03% | 45.26 ($52.74) 58.83 | $65.49 | 24.18% | Add 1.23% | 1,906,159 | 23,150 | |
TGT | Target Corp | 2023-08-31 | Add | +0.03% | 121.79 ($131.11) 137.84 | $174.67 | 33.22% | Add 1.03% | 1,156,946 | 11,798 | |
EBAY | eBay Inc | 2023-08-31 | Add | +0.03% | 42.93 ($44.9) 49.03 | $51.93 | 15.66% | Add 1.03% | 3,002,519 | 30,611 | |
BAC | Bank of America Corp | 2023-08-31 | Add | +0.03% | 27.75 ($29.71) 32.65 | $37.81 | 27.26% | Add 1.03% | 5,520,065 | 56,175 | |
HD | The Home Depot Inc | 2023-08-31 | Add | +0.03% | 288.39 ($316.26) 333.84 | $385.89 | 22.02% | Add 1.03% | 416,150 | 4,247 | |
QCOM | Qualcomm Inc | 2023-08-31 | Add | +0.02% | 108.51 ($118.32) 132.17 | $169.12 | 42.93% | Add 1.03% | 686,407 | 7,029 | |
CACC | Credit Acceptance Corp | 2023-08-31 | Add | +0.02% | 449.24 ($509) 573.28 | $551.60 | 8.37% | Add 1.03% | 167,565 | 1,706 | |
PFE | Pfizer Inc | 2023-08-31 | Add | +0.01% | 35 ($36.89) 40.28 | $27.78 | -24.70% | Add 1.04% | 1,292,486 | 13,305 | |
BRK.B | Berkshire Hathaway Inc | 2023-08-31 | Add | +0.01% | 323.12 ($345.64) 363.73 | $416.93 | 20.63% | Add 1.04% | 170,892 | 1,759 | |
UHAL | U-Haul Holding Co | 2023-08-31 | Add | 0% | 51.51 ($57.14) 62.1 | $66.31 | 16.05% | Add 0.28% | 492,134 | 1,381 | |
CVX | Chevron Corp | 2023-05-31 | Sold Out | -2.72% | 150.62 ($161.35) 172.44 | $156.35 | -3.10% | Sold Out | 0 | -744,401 | |
DVN | Devon Energy Corp | 2023-05-31 | New Buy | +2.54% | 45.12 ($50.6) 56.49 | $49.46 | -2.25% | New holding | 2,261,114 | 2,261,114 | |
NVR | NVR Inc | 2023-05-31 | Reduce | -1.37% | 5235.47 ($5625.95) 5967.22 | $7,980.74 | 41.86% | Reduce -24.57% | 35,884 | -11,691 | |
APA | APA Corp | 2023-05-31 | Add | +1.25% | 31.63 ($35.5) 40.78 | $33.71 | -5.04% | Add 68.96% | 3,937,840 | 1,607,209 | |
OVV | Ovintiv Inc | 2023-05-31 | Add | +0.51% | 32.08 ($36.13) 44.01 | $51.36 | 42.15% | Add 15.36% | 4,777,374 | 636,229 | |
UHAL.B | U-Haul Holding Co | 2023-05-31 | Add | +0.08% | 46.29 ($53.4) 59.05 | $65.49 | 22.64% | Add 4.06% | 1,883,009 | 73,415 | |
MRK | Merck & Co Inc | 2023-05-31 | Reduce | -0.07% | 104.1 ($111.98) 118.38 | $131.75 | 17.65% | Reduce -1.09% | 2,670,110 | -29,452 | |
DHI | D.R. Horton Inc | 2023-05-31 | Reduce | -0.06% | 91.17 ($102.32) 112.48 | $162.05 | 58.38% | Reduce -1.04% | 2,571,628 | -27,098 | |
AMGN | Amgen Inc | 2023-05-31 | Reduce | -0.05% | 216.93 ($235.79) 253.37 | $286.31 | 21.43% | Reduce -0.97% | 1,018,494 | -9,960 | |
LEN | Lennar Corp | 2023-05-31 | Reduce | -0.05% | 96.83 ($107.07) 115.8 | $168.50 | 57.37% | Reduce -0.83% | 2,671,004 | -22,416 | |
OXY | Occidental Petroleum Corp | 2023-05-31 | Reduce | -0.05% | 56.8 ($60.6) 65.18 | $64.20 | 5.94% | Reduce -0.67% | 6,066,040 | -40,769 | |
SPG | Simon Property Group Inc | 2023-05-31 | Reduce | -0.05% | 101.25 ($108.78) 123.85 | $154.33 | 41.87% | Reduce -0.76% | 2,146,540 | -16,380 | |
AXP | American Express Co | 2023-05-31 | Reduce | -0.04% | 147.93 ($159.21) 179.06 | $227.75 | 43.05% | Reduce -0.61% | 1,612,736 | -9,850 | |
TGT | Target Corp | 2023-05-31 | Reduce | -0.04% | 130.93 ($157.96) 169.58 | $174.67 | 10.58% | Reduce -0.82% | 1,145,148 | -9,429 | |
MAC | Macerich Co | 2023-05-31 | Reduce | -0.04% | 9.1 ($9.95) 12.02 | $17.09 | 71.76% | Reduce -0.85% | 18,635,020 | -159,254 | |
UHAL | U-Haul Holding Co | 2023-05-31 | Reduce | -0.03% | 52.77 ($60.08) 64.12 | $66.31 | 10.37% | Reduce -3.88% | 490,753 | -19,828 | |
BAC | Bank of America Corp | 2023-05-31 | Reduce | -0.03% | 26.97 ($28.67) 34.09 | $37.81 | 31.88% | Reduce -0.61% | 5,463,890 | -33,449 | |
WBD | Warner Bros. Discovery Inc | 2023-05-31 | Reduce | -0.03% | 11.09 ($13.6) 15.4 | $8.63 | -36.54% | Reduce -0.71% | 10,821,155 | -77,522 | |
JPM | JPMorgan Chase & Co | 2023-05-31 | Reduce | -0.02% | 124.91 ($134.17) 142.82 | $199.52 | 48.71% | Reduce -0.59% | 1,264,373 | -7,540 | |
CACC | Credit Acceptance Corp | 2023-05-31 | Reduce | -0.02% | 395.94 ($441.76) 498.73 | $551.60 | 24.86% | Reduce -0.93% | 165,859 | -1,557 | |
EBAY | eBay Inc | 2023-05-31 | Reduce | -0.02% | 40.81 ($43.77) 46.43 | $51.93 | 18.64% | Reduce -0.74% | 2,971,908 | -22,059 | |
HD | The Home Depot Inc | 2023-05-31 | Reduce | -0.02% | 280.82 ($290.68) 301.64 | $385.89 | 32.75% | Reduce -0.85% | 411,903 | -3,551 | |
QCOM | Qualcomm Inc | 2023-05-31 | Reduce | -0.02% | 103.02 ($115.86) 127.58 | $169.12 | 45.97% | Reduce -0.83% | 679,378 | -5,689 | |
COP | ConocoPhillips | 2023-05-31 | Reduce | -0.02% | 94.39 ($101.91) 109.56 | $126.84 | 24.46% | Reduce -0.44% | 2,139,340 | -9,542 | |
PFE | Pfizer Inc | 2023-05-31 | Reduce | -0.01% | 36.48 ($39.52) 41.79 | $27.78 | -29.71% | Reduce -0.99% | 1,279,181 | -12,781 | |
BRK.B | Berkshire Hathaway Inc | 2023-05-31 | Reduce | -0.01% | 293.51 ($315.96) 330.39 | $416.93 | 31.96% | Reduce -1.05% | 169,133 | -1,802 | |
APA | APA Corp | 2023-02-28 | New Buy | +2.03% | 37.86 ($43.57) 47.64 | $33.71 | -22.63% | New holding | 2,330,631 | 2,330,631 | |
WBD | Warner Bros. Discovery Inc | 2023-02-28 | Add | +1.80% | 8.87 ($12.62) 15.94 | $8.63 | -31.62% | Add 87.41% | 10,898,677 | 5,083,146 | |
BAC | Bank of America Corp | 2023-02-28 | Add | +0.86% | 31.7 ($34.33) 37.85 | $37.81 | 10.14% | Add 25.03% | 5,497,339 | 1,100,664 | |
OVV | Ovintiv Inc | 2023-02-28 | Add | +0.77% | 42.77 ($48.99) 55.76 | $51.36 | 4.84% | Add 23.7% | 4,141,145 | 793,411 | |
OXY | Occidental Petroleum Corp | 2023-02-28 | Add | +0.58% | 58.42 ($63.69) 69.49 | $64.20 | 0.80% | Add 7.7% | 6,106,809 | 436,558 | |
LEN | Lennar Corp | 2023-02-28 | Add | +0.45% | 85.9 ($95.6) 108.08 | $168.50 | 76.26% | Add 8.14% | 2,693,420 | 202,767 | |
MRK | Merck & Co Inc | 2023-02-28 | Add | +0.45% | 102.94 ($109.31) 114.84 | $131.75 | 20.53% | Add 7.36% | 2,699,562 | 185,050 | |
SPG | Simon Property Group Inc | 2023-02-28 | Add | +0.44% | 115.06 ($121.62) 131.79 | $154.33 | 26.90% | Add 7.89% | 2,162,920 | 158,090 | |
AXP | American Express Co | 2023-02-28 | Add | +0.43% | 144.01 ($160.45) 181.33 | $227.75 | 41.94% | Add 7.21% | 1,622,586 | 109,129 | |
COP | ConocoPhillips | 2023-02-28 | Add | +0.40% | 103.35 ($114.88) 124.65 | $126.84 | 10.41% | Add 8.51% | 2,148,882 | 168,511 | |
DHI | D.R. Horton Inc | 2023-02-28 | Add | +0.38% | 83.91 ($92.52) 102.94 | $162.05 | 75.15% | Add 7.39% | 2,598,726 | 178,793 | |
NVR | NVR Inc | 2023-02-28 | Add | +0.38% | 4557.92 ($4906.67) 5405.67 | $7,980.74 | 62.65% | Add 7.33% | 47,575 | 3,248 | |
AMGN | Amgen Inc | 2023-02-28 | Add | +0.34% | 231.66 ($260.08) 286.4 | $286.31 | 10.09% | Add 6.72% | 1,028,454 | 64,749 | |
JPM | JPMorgan Chase & Co | 2023-02-28 | Add | +0.30% | 129.29 ($137.17) 143.8 | $199.52 | 45.45% | Add 7.86% | 1,271,913 | 92,717 | |
TGT | Target Corp | 2023-02-28 | Add | +0.29% | 141.35 ($160.9) 181.02 | $174.67 | 8.56% | Add 7.14% | 1,154,577 | 76,929 | |
MAC | Macerich Co | 2023-02-28 | Add | +0.27% | 11.05 ($12.46) 14.22 | $17.09 | 37.16% | Add 5.65% | 18,794,274 | 1,004,908 | |
EBAY | eBay Inc | 2023-02-28 | Add | +0.22% | 39.92 ($45.58) 51.66 | $51.93 | 13.93% | Add 7.61% | 2,993,967 | 211,647 | |
CVX | Chevron Corp | 2023-02-28 | Add | +0.20% | 160.35 ($173.46) 187.79 | $156.35 | -9.86% | Add 8.04% | 744,401 | 55,410 | |
HD | The Home Depot Inc | 2023-02-28 | Add | +0.19% | 295.5 ($319.08) 339.79 | $385.89 | 20.94% | Add 7.28% | 415,454 | 28,207 | |
UHAL.B | U-Haul Holding Co | 2023-02-28 | Add | +0.18% | 52.6 ($58.78) 66.74 | $65.49 | 11.42% | Add 8.54% | 1,809,594 | 142,393 | |
QCOM | Qualcomm Inc | 2023-02-28 | Add | +0.13% | 106.97 ($122.69) 138.46 | $169.12 | 37.84% | Add 7.11% | 685,067 | 45,456 |
Total 177
Smead Value Fund News
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