Smead Value Fund

Smead Value Fund | SMVLX

Mutual Fund
Smead Value Fund
Last update 2024-01-23 27 Stocks (3 new)
Value $4.43 Bil Turnover 5 %
Countries:
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

Type:
Ticker
Company
Date
Action
Impact %
Price Range
Price
Price Change from Avrg%
Comment
Current Shares
Share Change
OXY
Occidental Petroleum Corp2023-11-30Reduce
-1.24%
59.15 ($63.04) 67.3
$64.20
1.84%
Reduce -14.99%
5,209,637
-918,825
WAL
Western Alliance Bancorp2023-11-30New Buy
+1.21%
40.1 ($46.12) 51.39
$64.22
39.25%
New holding
1,049,360
1,049,360
COP
ConocoPhillips2023-11-30Reduce
-1.16%
111.99 ($119.31) 126.59
$126.84
6.31%
Reduce -20.98%
1,707,805
-453,520
FITB
Fifth Third Bancorp2023-11-30New 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 Corp2023-11-30New Buy
+1.11%
108.94 ($122.3) 129.61
$144.80
18.40%
New holding
383,863
383,863
PFE
Pfizer Inc2023-11-30Sold Out
-0.99%
28.98 ($32.02) 35.78
$27.78
-13.24%
Sold Out
0
-1,292,486
LEN
Lennar Corp2023-11-30Reduce
-0.76%
103.07 ($115.64) 128.3
$168.50
45.71%
Reduce -10.97%
2,402,370
-296,138
DHI
D.R. Horton Inc2023-11-30Reduce
-0.75%
100.66 ($113.29) 128.9
$162.05
43.04%
Reduce -11.26%
2,305,579
-292,481
AMGN
Amgen Inc2023-11-30Reduce
-0.65%
249.01 ($267.71) 286.88
$286.31
6.95%
Reduce -11.36%
912,041
-116,917
DVN
Devon Energy Corp2023-11-30Add
+0.62%
42.85 ($47.42) 53.5
$49.46
4.30%
Add 22.18%
3,383,280
614,228
WBD
Warner Bros. Discovery Inc2023-11-30Reduce
-0.58%
9.4 ($10.76) 13.14
$8.63
-19.80%
Reduce -18.75%
8,882,138
-2,050,360
APA
APA Corp2023-11-30Add
+0.54%
35.85 ($40.09) 45.32
$33.71
-15.91%
Add 16.75%
4,644,794
666,501
TGT
Target Corp2023-11-30Reduce
-0.53%
105.01 ($116.24) 133.81
$174.67
50.27%
Reduce -16.91%
961,328
-195,618
AXP
American Express Co2023-11-30Reduce
-0.46%
141.31 ($154.16) 170.77
$227.75
47.74%
Reduce -8.23%
1,495,307
-134,032
BAC
Bank of America Corp2023-11-30Add
+0.44%
25.17 ($27.83) 30.49
$37.81
35.86%
Add 11.73%
6,167,320
647,255
SPG
Simon Property Group Inc2023-11-30Reduce
-0.32%
103.37 ($112.76) 124.89
$154.33
36.87%
Reduce -6.04%
2,037,652
-130,946
MRK
Merck & Co Inc2023-11-30Reduce
-0.26%
100.18 ($104.19) 109.84
$131.75
26.45%
Reduce -4.08%
2,587,643
-109,944
NVR
NVR Inc2023-11-30Reduce
-0.18%
5377.29 ($5986.85) 6509.35
$7,980.74
33.30%
Reduce -3.53%
34,971
-1,281
MAC
Macerich Co2023-11-30Reduce
-0.17%
9.71 ($11) 12.23
$17.09
55.36%
Reduce -3.53%
18,161,584
-665,245
JPM
JPMorgan Chase & Co2023-11-30Reduce
-0.14%
135.69 ($146.15) 156.08
$199.52
36.52%
Reduce -3.53%
1,232,267
-45,110
EBAY
eBay Inc2023-11-30Reduce
-0.10%
37.99 ($41.87) 45.1
$51.93
24.03%
Reduce -3.53%
2,896,462
-106,057
HD
The Home Depot Inc2023-11-30Reduce
-0.10%
276.46 ($302.93) 333.08
$385.89
27.39%
Reduce -3.53%
401,446
-14,704
UHAL.B
U-Haul Holding Co2023-11-30Reduce
-0.08%
46.65 ($51.58) 54.85
$65.49
26.97%
Reduce -3.45%
1,840,476
-65,683
OVV
Ovintiv Inc2023-11-30Add
+0.07%
43.85 ($46.92) 51.28
$51.36
9.46%
Add 1.54%
4,900,736
74,185
CACC
Credit Acceptance Corp2023-11-30Reduce
-0.06%
397.06 ($447.24) 510.19
$551.60
23.33%
Reduce -3.54%
161,636
-5,929
QCOM
Qualcomm Inc2023-11-30Reduce
-0.06%
104.78 ($115.03) 129.51
$169.12
47.02%
Reduce -3.53%
662,170
-24,237
BRK.B
Berkshire Hathaway Inc2023-11-30Reduce
-0.05%
331.71 ($353.13) 370.48
$416.93
18.07%
Reduce -3.53%
164,856
-6,036
UHAL
U-Haul Holding Co2023-11-30Reduce
-0.02%
48.72 ($54.5) 58.54
$66.31
21.67%
Reduce -3.85%
473,200
-18,934
DVN
Devon Energy Corp2023-08-31Add
+0.56%
46.78 ($49.95) 54
$49.46
-0.98%
Add 22.46%
2,769,052
507,938
OXY
Occidental Petroleum Corp2023-08-31Add
+0.08%
56.07 ($60.75) 65.84
$64.20
5.68%
Add 1.03%
6,128,462
62,422
LEN
Lennar Corp2023-08-31Add
+0.07%
108.14 ($121.94) 133.24
$168.50
38.18%
Add 1.03%
2,698,508
27,504
DHI
D.R. Horton Inc2023-08-31Add
+0.07%
108.48 ($120.89) 131
$162.05
34.05%
Add 1.03%
2,598,060
26,432
AXP
American Express Co2023-08-31Add
+0.06%
157.79 ($168.02) 178.04
$227.75
35.55%
Add 1.03%
1,629,339
16,603
COP
ConocoPhillips2023-08-31Add
+0.06%
99.53 ($109.84) 119.03
$126.84
15.48%
Add 1.03%
2,161,325
21,985
MRK
Merck & Co Inc2023-08-31Add
+0.06%
105 ($109.24) 115.39
$131.75
20.61%
Add 1.03%
2,697,587
27,477
AMGN
Amgen Inc2023-08-31Add
+0.06%
214.27 ($236.66) 266.01
$286.31
20.98%
Add 1.03%
1,028,958
10,464
MAC
Macerich Co2023-08-31Add
+0.05%
9.49 ($11.69) 12.9
$17.09
46.19%
Add 1.03%
18,826,829
191,809
NVR
NVR Inc2023-08-31Add
+0.05%
5570.61 ($6155.25) 6466
$7,980.74
29.66%
Add 1.03%
36,252
368
SPG
Simon Property Group Inc2023-08-31Add
+0.05%
103.4 ($116.14) 125.44
$154.33
32.88%
Add 1.03%
2,168,598
22,058
OVV
Ovintiv Inc2023-08-31Add
+0.05%
34.09 ($41.89) 48.96
$51.36
22.61%
Add 1.03%
4,826,551
49,177
APA
APA Corp2023-08-31Add
+0.04%
32.04 ($38.19) 44.88
$33.71
-11.73%
Add 1.03%
3,978,293
40,453
JPM
JPMorgan Chase & Co2023-08-31Add
+0.04%
137.58 ($148.03) 158
$199.52
34.78%
Add 1.03%
1,277,377
13,004
WBD
Warner Bros. Discovery Inc2023-08-31Add
+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 Co2023-08-31Add
+0.03%
45.26 ($52.74) 58.83
$65.49
24.18%
Add 1.23%
1,906,159
23,150
TGT
Target Corp2023-08-31Add
+0.03%
121.79 ($131.11) 137.84
$174.67
33.22%
Add 1.03%
1,156,946
11,798
EBAY
eBay Inc2023-08-31Add
+0.03%
42.93 ($44.9) 49.03
$51.93
15.66%
Add 1.03%
3,002,519
30,611
BAC
Bank of America Corp2023-08-31Add
+0.03%
27.75 ($29.71) 32.65
$37.81
27.26%
Add 1.03%
5,520,065
56,175
HD
The Home Depot Inc2023-08-31Add
+0.03%
288.39 ($316.26) 333.84
$385.89
22.02%
Add 1.03%
416,150
4,247
QCOM
Qualcomm Inc2023-08-31Add
+0.02%
108.51 ($118.32) 132.17
$169.12
42.93%
Add 1.03%
686,407
7,029
CACC
Credit Acceptance Corp2023-08-31Add
+0.02%
449.24 ($509) 573.28
$551.60
8.37%
Add 1.03%
167,565
1,706
PFE
Pfizer Inc2023-08-31Add
+0.01%
35 ($36.89) 40.28
$27.78
-24.70%
Add 1.04%
1,292,486
13,305
BRK.B
Berkshire Hathaway Inc2023-08-31Add
+0.01%
323.12 ($345.64) 363.73
$416.93
20.63%
Add 1.04%
170,892
1,759
UHAL
U-Haul Holding Co2023-08-31Add
0%
51.51 ($57.14) 62.1
$66.31
16.05%
Add 0.28%
492,134
1,381
CVX
Chevron Corp2023-05-31Sold Out
-2.72%
150.62 ($161.35) 172.44
$156.35
-3.10%
Sold Out
0
-744,401
DVN
Devon Energy Corp2023-05-31New Buy
+2.54%
45.12 ($50.6) 56.49
$49.46
-2.25%
New holding
2,261,114
2,261,114
NVR
NVR Inc2023-05-31Reduce
-1.37%
5235.47 ($5625.95) 5967.22
$7,980.74
41.86%
Reduce -24.57%
35,884
-11,691
APA
APA Corp2023-05-31Add
+1.25%
31.63 ($35.5) 40.78
$33.71
-5.04%
Add 68.96%
3,937,840
1,607,209
OVV
Ovintiv Inc2023-05-31Add
+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 Co2023-05-31Add
+0.08%
46.29 ($53.4) 59.05
$65.49
22.64%
Add 4.06%
1,883,009
73,415
MRK
Merck & Co Inc2023-05-31Reduce
-0.07%
104.1 ($111.98) 118.38
$131.75
17.65%
Reduce -1.09%
2,670,110
-29,452
DHI
D.R. Horton Inc2023-05-31Reduce
-0.06%
91.17 ($102.32) 112.48
$162.05
58.38%
Reduce -1.04%
2,571,628
-27,098
AMGN
Amgen Inc2023-05-31Reduce
-0.05%
216.93 ($235.79) 253.37
$286.31
21.43%
Reduce -0.97%
1,018,494
-9,960
LEN
Lennar Corp2023-05-31Reduce
-0.05%
96.83 ($107.07) 115.8
$168.50
57.37%
Reduce -0.83%
2,671,004
-22,416
OXY
Occidental Petroleum Corp2023-05-31Reduce
-0.05%
56.8 ($60.6) 65.18
$64.20
5.94%
Reduce -0.67%
6,066,040
-40,769
SPG
Simon Property Group Inc2023-05-31Reduce
-0.05%
101.25 ($108.78) 123.85
$154.33
41.87%
Reduce -0.76%
2,146,540
-16,380
AXP
American Express Co2023-05-31Reduce
-0.04%
147.93 ($159.21) 179.06
$227.75
43.05%
Reduce -0.61%
1,612,736
-9,850
TGT
Target Corp2023-05-31Reduce
-0.04%
130.93 ($157.96) 169.58
$174.67
10.58%
Reduce -0.82%
1,145,148
-9,429
MAC
Macerich Co2023-05-31Reduce
-0.04%
9.1 ($9.95) 12.02
$17.09
71.76%
Reduce -0.85%
18,635,020
-159,254
UHAL
U-Haul Holding Co2023-05-31Reduce
-0.03%
52.77 ($60.08) 64.12
$66.31
10.37%
Reduce -3.88%
490,753
-19,828
BAC
Bank of America Corp2023-05-31Reduce
-0.03%
26.97 ($28.67) 34.09
$37.81
31.88%
Reduce -0.61%
5,463,890
-33,449
WBD
Warner Bros. Discovery Inc2023-05-31Reduce
-0.03%
11.09 ($13.6) 15.4
$8.63
-36.54%
Reduce -0.71%
10,821,155
-77,522
JPM
JPMorgan Chase & Co2023-05-31Reduce
-0.02%
124.91 ($134.17) 142.82
$199.52
48.71%
Reduce -0.59%
1,264,373
-7,540
CACC
Credit Acceptance Corp2023-05-31Reduce
-0.02%
395.94 ($441.76) 498.73
$551.60
24.86%
Reduce -0.93%
165,859
-1,557
EBAY
eBay Inc2023-05-31Reduce
-0.02%
40.81 ($43.77) 46.43
$51.93
18.64%
Reduce -0.74%
2,971,908
-22,059
HD
The Home Depot Inc2023-05-31Reduce
-0.02%
280.82 ($290.68) 301.64
$385.89
32.75%
Reduce -0.85%
411,903
-3,551
QCOM
Qualcomm Inc2023-05-31Reduce
-0.02%
103.02 ($115.86) 127.58
$169.12
45.97%
Reduce -0.83%
679,378
-5,689
COP
ConocoPhillips2023-05-31Reduce
-0.02%
94.39 ($101.91) 109.56
$126.84
24.46%
Reduce -0.44%
2,139,340
-9,542
PFE
Pfizer Inc2023-05-31Reduce
-0.01%
36.48 ($39.52) 41.79
$27.78
-29.71%
Reduce -0.99%
1,279,181
-12,781
BRK.B
Berkshire Hathaway Inc2023-05-31Reduce
-0.01%
293.51 ($315.96) 330.39
$416.93
31.96%
Reduce -1.05%
169,133
-1,802
APA
APA Corp2023-02-28New 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 Inc2023-02-28Add
+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 Corp2023-02-28Add
+0.86%
31.7 ($34.33) 37.85
$37.81
10.14%
Add 25.03%
5,497,339
1,100,664
OVV
Ovintiv Inc2023-02-28Add
+0.77%
42.77 ($48.99) 55.76
$51.36
4.84%
Add 23.7%
4,141,145
793,411
OXY
Occidental Petroleum Corp2023-02-28Add
+0.58%
58.42 ($63.69) 69.49
$64.20
0.80%
Add 7.7%
6,106,809
436,558
LEN
Lennar Corp2023-02-28Add
+0.45%
85.9 ($95.6) 108.08
$168.50
76.26%
Add 8.14%
2,693,420
202,767
MRK
Merck & Co Inc2023-02-28Add
+0.45%
102.94 ($109.31) 114.84
$131.75
20.53%
Add 7.36%
2,699,562
185,050
SPG
Simon Property Group Inc2023-02-28Add
+0.44%
115.06 ($121.62) 131.79
$154.33
26.90%
Add 7.89%
2,162,920
158,090
AXP
American Express Co2023-02-28Add
+0.43%
144.01 ($160.45) 181.33
$227.75
41.94%
Add 7.21%
1,622,586
109,129
COP
ConocoPhillips2023-02-28Add
+0.40%
103.35 ($114.88) 124.65
$126.84
10.41%
Add 8.51%
2,148,882
168,511
DHI
D.R. Horton Inc2023-02-28Add
+0.38%
83.91 ($92.52) 102.94
$162.05
75.15%
Add 7.39%
2,598,726
178,793
NVR
NVR Inc2023-02-28Add
+0.38%
4557.92 ($4906.67) 5405.67
$7,980.74
62.65%
Add 7.33%
47,575
3,248
AMGN
Amgen Inc2023-02-28Add
+0.34%
231.66 ($260.08) 286.4
$286.31
10.09%
Add 6.72%
1,028,454
64,749
JPM
JPMorgan Chase & Co2023-02-28Add
+0.30%
129.29 ($137.17) 143.8
$199.52
45.45%
Add 7.86%
1,271,913
92,717
TGT
Target Corp2023-02-28Add
+0.29%
141.35 ($160.9) 181.02
$174.67
8.56%
Add 7.14%
1,154,577
76,929
MAC
Macerich Co2023-02-28Add
+0.27%
11.05 ($12.46) 14.22
$17.09
37.16%
Add 5.65%
18,794,274
1,004,908
EBAY
eBay Inc2023-02-28Add
+0.22%
39.92 ($45.58) 51.66
$51.93
13.93%
Add 7.61%
2,993,967
211,647
CVX
Chevron Corp2023-02-28Add
+0.20%
160.35 ($173.46) 187.79
$156.35
-9.86%
Add 8.04%
744,401
55,410
HD
The Home Depot Inc2023-02-28Add
+0.19%
295.5 ($319.08) 339.79
$385.89
20.94%
Add 7.28%
415,454
28,207
UHAL.B
U-Haul Holding Co2023-02-28Add
+0.18%
52.6 ($58.78) 66.74
$65.49
11.42%
Add 8.54%
1,809,594
142,393
QCOM
Qualcomm Inc2023-02-28Add
+0.13%
106.97 ($122.69) 138.46
$169.12
37.84%
Add 7.11%
685,067
45,456
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