Smead Value Fund

Smead Value Fund | SMVLX

Mutual Fund
Smead Value Fund
Last update 2023-04-24 25 Stocks (1 new)
Value $4.40 Bil Turnover 11 %
Top Holdings: OXY(8.12%) MRK(6.51%) AXP(6.41%) SPG(6.00%) LEN(5.92%)
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).
Summary Stock Picks Current Portfolio

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
APA 		APA Corp2023-02-28New Buy
+2.03%
â—Ź
37.86 ($43.57) 47.64
$33.68
-22.70%
New holding
2,330,631
2,330,631
WBD 		Warner Bros. Discovery Inc2023-02-28Add
+1.80%
â—Ź
8.87 ($12.62) 15.94
$11.75
-6.89%
Add 87.41%
10,898,677
5,083,146
BAC 		Bank of America Corp2023-02-28Add
+0.86%
â—Ź
31.7 ($34.33) 37.85
$28.71
-16.37%
Add 25.03%
5,497,339
1,100,664
OVV 		Ovintiv Inc2023-02-28Add
+0.77%
â—Ź
42.77 ($48.99) 55.76
$35.59
-27.35%
Add 23.7%
4,141,145
793,411
OXY 		Occidental Petroleum Corp2023-02-28Add
+0.58%
â—Ź
58.42 ($63.69) 69.49
$59.69
-6.28%
Add 7.7%
6,106,809
436,558
LEN 		Lennar Corp2023-02-28Add
+0.45%
â—Ź
85.9 ($95.6) 108.08
$112.00
17.15%
Add 8.14%
2,693,420
202,767
MRK 		Merck & Co Inc2023-02-28Add
+0.45%
â—Ź
102.94 ($109.31) 114.84
$112.52
2.94%
Add 7.36%
2,699,562
185,050
SPG 		Simon Property Group Inc2023-02-28Add
+0.44%
â—Ź
115.06 ($121.62) 131.79
$106.51
-12.42%
Add 7.89%
2,162,920
158,090
AXP 		American Express Co2023-02-28Add
+0.43%
â—Ź
144.01 ($160.45) 181.33
$168.56
5.05%
Add 7.21%
1,622,586
109,129
COP 		ConocoPhillips2023-02-28Add
+0.40%
â—Ź
103.35 ($114.88) 124.65
$102.35
-10.91%
Add 8.51%
2,148,882
168,511
DHI 		D.R. Horton Inc2023-02-28Add
+0.38%
â—Ź
83.91 ($92.52) 102.94
$112.02
21.08%
Add 7.39%
2,598,726
178,793
NVR 		NVR Inc2023-02-28Add
+0.38%
â—Ź
4557.92 ($4906.67) 5405.67
$5,711.00
16.39%
Add 7.33%
47,575
3,248
AMGN 		Amgen Inc2023-02-28Add
+0.34%
â—Ź
231.66 ($260.08) 286.4
$218.07
-16.15%
Add 6.72%
1,028,454
64,749
JPM 		JPMorgan Chase & Co2023-02-28Add
+0.30%
â—Ź
129.29 ($137.17) 143.8
$140.47
2.41%
Add 7.86%
1,271,913
92,717
TGT 		Target Corp2023-02-28Add
+0.29%
â—Ź
141.35 ($160.9) 181.02
$133.22
-17.20%
Add 7.14%
1,154,577
76,929
MAC 		Macerich Co2023-02-28Add
+0.27%
â—Ź
11.05 ($12.46) 14.22
$10.16
-18.46%
Add 5.65%
18,794,274
1,004,908
EBAY 		eBay Inc2023-02-28Add
+0.22%
â—Ź
39.92 ($45.58) 51.66
$44.39
-2.61%
Add 7.61%
2,993,967
211,647
CVX 		Chevron Corp2023-02-28Add
+0.20%
â—Ź
160.35 ($173.46) 187.79
$156.26
-9.92%
Add 8.04%
744,401
55,410
HD 		The Home Depot Inc2023-02-28Add
+0.19%
â—Ź
295.5 ($319.08) 339.79
$295.94
-7.25%
Add 7.28%
415,454
28,207
UHAL.B 		U-Haul Holding Co2023-02-28Add
+0.18%
â—Ź
52.6 ($58.78) 66.74
$49.36
-16.03%
Add 8.54%
1,809,594
142,393
QCOM 		Qualcomm Inc2023-02-28Add
+0.13%
â—Ź
106.97 ($122.69) 138.46
$115.62
-5.76%
Add 7.11%
685,067
45,456
CACC 		Credit Acceptance Corp2023-02-28Add
+0.11%
â—Ź
378.22 ($454.07) 548.99
$475.19
4.65%
Add 7.21%
167,416
11,261
BRK.B 		Berkshire Hathaway Inc2023-02-28Add
+0.08%
â—Ź
300 ($309.52) 320.37
$329.48
6.45%
Add 7.35%
170,935
11,699
PFE 		Pfizer Inc2023-02-28Add
+0.08%
â—Ź
40.57 ($47.32) 54.48
$38.36
-18.93%
Add 7.55%
1,291,962
90,708
CLR 		Continental Resources Inc2022-11-30Sold Out
-11.74%
â—Ź
62.65 ($71.13) 74.27
$74.27
4.41%
Sold Out
0
-6,175,812
OVV 		Ovintiv Inc2022-11-30New Buy
+4.58%
â—Ź
40.16 ($51.62) 58.48
$35.59
-31.05%
New holding
3,347,734
3,347,734
UHAL.B 		U-Haul Holding Co2022-11-30New Buy
+2.59%
â—Ź
52.06 ($58.1) 63.17
$49.36
-15.04%
New holding
1,667,201
1,667,201
UHAL 		U-Haul Holding Co2022-11-30Reduce
-1.64%
â—Ź
49.87 ($54.15) 63.3
$54.60
0.83%
Reduce -69.17%
510,581
-1,145,639
OXY 		Occidental Petroleum Corp2022-11-30Add
+1.36%
â—Ź
57.88 ($68.16) 75.97
$59.69
-12.43%
Add 16.29%
5,670,251
794,346
MAC 		Macerich Co2022-11-30Add
+1.26%
â—Ź
7.73 ($10.23) 13.34
$10.16
-0.68%
Add 29.25%
17,789,366
4,025,505
COP 		ConocoPhillips2022-11-30Add
+1.20%
â—Ź
98.76 ($119.24) 134.94
$102.35
-14.16%
Add 25.01%
1,980,371
396,245
SPG 		Simon Property Group Inc2022-11-30Add
+1.12%
â—Ź
87.36 ($104.3) 120.7
$106.51
2.12%
Add 23.56%
2,004,830
382,234
CMCSA 		Comcast Corp2022-11-30Sold Out
-1.04%
â—Ź
28.68 ($32.56) 36.9
$39.19
20.36%
Sold Out
0
-1,053,550
WBD 		Warner Bros.Discovery Inc2022-11-30Reduce
-1.03%
â—Ź
9.84 ($12.08) 13.57
$11.75
-2.73%
Reduce -32.98%
5,815,531
-2,862,371
OGN 		Organon & Co2022-11-30Sold Out
-0.89%
â—Ź
23.31 ($25.59) 29.83
$19.76
-22.78%
Sold Out
0
-1,151,859
DHI 		D.R. Horton Inc2022-11-30Add
+0.57%
â—Ź
67.14 ($74.44) 86
$112.02
50.48%
Add 12.44%
2,419,933
267,729
LEN 		Lennar Corp2022-11-30Add
+0.56%
â—Ź
71.38 ($79.19) 88.4
$112.00
41.43%
Add 11.73%
2,490,653
261,432
AMGN 		Amgen Inc2022-11-30Add
+0.35%
â—Ź
224.46 ($254.73) 292.39
$218.07
-14.39%
Add 5.39%
963,705
49,297
MRK 		Merck & Co Inc2022-11-30Add
+0.35%
â—Ź
84.53 ($94.19) 110.12
$112.52
19.46%
Add 5.39%
2,514,512
128,596
AXP 		American Express Co2022-11-30Add
+0.30%
â—Ź
134.91 ($147.56) 162.45
$168.56
14.23%
Add 5.39%
1,513,457
77,445
NVR 		NVR Inc2022-11-30Add
+0.26%
â—Ź
3917.75 ($4191.66) 4639.01
$5,711.00
36.25%
Add 5.39%
44,327
2,266
TGT 		Target Corp2022-11-30Add
+0.23%
â—Ź
145.69 ($160.64) 178.98
$133.22
-17.07%
Add 5.39%
1,077,648
55,137
BAC 		Bank of America Corp2022-11-30Add
+0.21%
â—Ź
29.77 ($34.47) 38.41
$28.71
-16.71%
Add 5.39%
4,396,675
224,837
JPM 		JPMorgan Chase & Co2022-11-30Add
+0.20%
â—Ź
101.96 ($120.31) 138.18
$140.47
16.76%
Add 5.39%
1,179,196
60,331
HD 		The Home Depot Inc2022-11-30Add
+0.16%
â—Ź
266.58 ($291.08) 326.38
$295.94
1.67%
Add 5.39%
387,247
19,806
EBAY 		eBay Inc2022-11-30Add
+0.16%
â—Ź
36.81 ($41.1) 47.02
$44.39
8.00%
Add 5.39%
2,782,320
142,241
CVX 		Chevron Corp2022-11-30Add
+0.11%
â—Ź
140.96 ($167.45) 188.05
$156.26
-6.68%
Add 3.52%
688,991
23,436
QCOM 		Qualcomm Inc2022-11-30Add
+0.10%
â—Ź
103.88 ($119.88) 133
$115.62
-3.55%
Add 5.4%
639,611
32,753
CACC 		Credit Acceptance Corp2022-11-30Add
+0.09%
â—Ź
407.7 ($469.24) 533.48
$475.19
1.27%
Add 5.39%
156,155
7,983
PFE 		Pfizer Inc2022-11-30Add
+0.08%
â—Ź
41.75 ($45.89) 50.13
$38.36
-16.41%
Add 5.4%
1,201,254
61,525
BRK.B 		Berkshire Hathaway Inc2022-11-30Add
+0.06%
â—Ź
264 ($286.34) 318.6
$329.48
15.07%
Add 5.4%
159,236
8,154
CLR 		Continental Resources Inc2022-08-31Reduce
-0.44%
â—Ź
62.96 ($67.53) 74.22
$74.27
9.98%
Reduce -3.87%
6,175,812
-248,458
WBD 		Warner Bros.Discovery Inc2022-08-31Add
+0.42%
â—Ź
12.71 ($14.43) 18
$11.75
-18.57%
Add 15.31%
8,677,902
1,151,876
MAC 		Macerich Co2022-08-31Add
+0.41%
â—Ź
8.71 ($10.05) 11.68
$10.16
1.09%
Add 12.98%
13,763,861
1,581,550
AMGN 		Amgen Inc2022-08-31Add
+0.28%
â—Ź
230.71 ($245.4) 253.42
$218.07
-11.14%
Add 4.93%
914,408
42,980
AXP 		American Express Co2022-08-31Add
+0.28%
â—Ź
136.48 ($152.19) 169.14
$168.56
10.76%
Add 4.93%
1,436,012
67,472
MRK 		Merck & Co Inc2022-08-31Add
+0.26%
â—Ź
84.5 ($90.08) 94.96
$112.52
24.91%
Add 4.93%
2,385,916
112,103
NVR 		NVR Inc2022-08-31Add
+0.22%
â—Ź
3670 ($4262.36) 4552.68
$5,711.00
33.99%
Add 4.93%
42,061
1,977
LEN 		Lennar Corp2022-08-31Add
+0.22%
â—Ź
64.49 ($79.04) 88.27
$112.00
41.70%
Add 4.93%
2,229,221
104,820
TGT 		Target Corp2022-08-31Add
+0.21%
â—Ź
139.3 ($156.13) 180.19
$133.22
-14.67%
Add 4.93%
1,022,511
48,079
SPG 		Simon Property Group Inc2022-08-31Add
+0.21%
â—Ź
94 ($103.66) 115.85
$106.51
2.75%
Add 4.93%
1,622,596
76,297
DHI 		D.R. Horton Inc2022-08-31Add
+0.20%
â—Ź
60.56 ($72.91) 79.72
$112.02
53.64%
Add 4.93%
2,152,204
101,176
BAC 		Bank of America Corp2022-08-31Add
+0.18%
â—Ź
30.13 ($33.55) 36.7
$28.71
-14.43%
Add 4.94%
4,171,838
196,231
JPM 		JPMorgan Chase & Co2022-08-31Add
+0.16%
â—Ź
108 ($116.9) 132
$140.47
20.16%
Add 4.93%
1,118,865
52,599
EBAY 		eBay Inc2022-08-31Add
+0.15%
â—Ź
41.08 ($45.59) 50.48
$44.39
-2.63%
Add 4.93%
2,640,079
124,016
HD 		The Home Depot Inc2022-08-31Add
+0.14%
â—Ź
268.98 ($296.34) 327.38
$295.94
-0.13%
Add 4.93%
367,441
17,259
UHAL 		Amerco Inc2022-08-31Add
+0.11%
â—Ź
45.17 ($50.91) 59.07
$54.60
7.25%
Add 4.93%
1,656,220
7,779
CACC 		Credit Acceptance Corp2022-08-31Add
+0.10%
â—Ź
460.68 ($537.23) 605.38
$475.19
-11.55%
Add 4.93%
148,172
6,959
QCOM 		Qualcomm Inc2022-08-31Add
+0.10%
â—Ź
120.09 ($139.6) 155.86
$115.62
-17.18%
Add 4.93%
606,858
28,514
PFE 		Pfizer Inc2022-08-31Add
+0.07%
â—Ź
45.23 ($50.3) 53.96
$38.36
-23.74%
Add 4.93%
1,139,729
53,551
BRK.B 		Berkshire Hathaway Inc2022-08-31Add
+0.05%
â—Ź
267.52 ($288.33) 314.95
$329.48
14.27%
Add 4.93%
151,082
7,097
CMCSA 		Comcast Corp2022-08-31Add
+0.05%
â—Ź
35.72 ($39.75) 43.93
$39.19
-1.41%
Add 4.94%
1,053,550
49,591
OGN 		Organon & Co2022-08-31Add
+0.04%
â—Ź
28.53 ($32.78) 37.81
$19.76
-39.72%
Add 4.94%
1,151,859
54,263
COP 		ConocoPhillips2022-05-31Reduce
-1.94%
â—Ź
91.32 ($101.3) 114.6
$102.35
1.04%
Reduce -31.86%
1,584,126
-740,788
CVX 		Chevron Corp2022-05-31Reduce
-1.76%
â—Ź
156.24 ($166.21) 178.28
$156.26
-5.99%
Reduce -39.98%
665,555
-443,259
SPG 		Simon Property Group Inc2022-05-31Add
+0.92%
â—Ź
107.77 ($124.69) 138.08
$106.51
-14.58%
Add 24.48%
1,546,299
304,132
OGN 		Organon & Co2022-05-31Add
+0.89%
â—Ź
31.66 ($35.05) 38.9
$19.76
-43.62%
Add 430.11%
1,097,596
890,544
WBD 		Warner Bros.Discovery Inc2022-05-31Add
+0.81%
â—Ź
16.62 ($22.12) 27.35
$11.75
-46.88%
Add 28.56%
7,526,026
1,671,874
MAC 		Macerich Co2022-05-31Add
+0.79%
â—Ź
11.43 ($13.78) 16.15
$10.16
-26.27%
Add 26.56%
12,182,311
2,556,327
AXP 		American Express Co2022-05-31Add
+0.64%
â—Ź
153.24 ($174.92) 191.33
$168.56
-3.64%
Add 11.86%
1,368,540
145,107
AMGN 		Amgen Inc2022-05-31Add
+0.59%
â—Ź
226.95 ($242.72) 256.74
$218.07
-10.16%
Add 11.2%
871,428
87,784
MRK 		Merck & Co Inc2022-05-31Add
+0.55%
â—Ź
76.95 ($85.42) 94.64
$112.52
31.73%
Add 11.03%
2,273,813
225,914
NVR 		NVR Inc2022-05-31Add
+0.51%
â—Ź
4061 ($4488.31) 4988.73
$5,711.00
27.24%
Add 12.23%
40,084
4,367
LEN 		Lennar Corp2022-05-31Add
+0.48%
â—Ź
71.3 ($80.05) 92.54
$112.00
39.91%
Add 12.1%
2,124,401
229,239
TGT 		Target Corp2022-05-31Add
+0.44%
â—Ź
149.95 ($214.71) 249.32
$133.22
-37.95%
Add 12%
974,432
104,415
DHI 		D.R. Horton Inc2022-05-31Add
+0.43%
â—Ź
64.86 ($74.26) 85.74
$112.02
50.85%
Add 11.98%
2,051,028
219,372
BAC 		Bank of America Corp2022-05-31Add
+0.42%
â—Ź
33.86 ($38.84) 44.18
$28.71
-26.08%
Add 11.97%
3,975,607
425,159
BRK.B 		Berkshire Hathaway Inc2022-05-31Reduce
-0.39%
â—Ź
304.05 ($331.78) 359.57
$329.48
-0.69%
Reduce -23.63%
143,985
-44,544
JPM 		JPMorgan Chase & Co2022-05-31Add
+0.39%
â—Ź
117.34 ($129.4) 142.62
$140.47
8.55%
Add 11.83%
1,066,266
112,820
CMCSA 		Comcast Corp2022-05-31Reduce
-0.38%
â—Ź
39.76 ($44.86) 48.11
$39.19
-12.64%
Reduce -22.67%
1,003,959
-294,332
PFE 		Pfizer Inc2022-05-31Reduce
-0.36%
â—Ź
47.44 ($51.3) 55.17
$38.36
-25.22%
Reduce -20.42%
1,086,178
-278,744
OXY 		Occidental Petroleum Corp2022-05-31Add
+0.34%
â—Ź
52.99 ($59.69) 70.86
$59.69
0%
Add 4.03%
4,875,905
188,969
EBAY 		eBay Inc2022-05-31Add
+0.32%
â—Ź
44.18 ($52.42) 60.21
$44.39
-15.32%
Add 11.04%
2,516,063
250,242
HD 		The Home Depot Inc2022-05-31Add
+0.28%
â—Ź
282.96 ($307.12) 340.74
$295.94
-3.64%
Add 11.03%
350,182
34,789
CACC 		Credit Acceptance Corp2022-05-31Add
+0.23%
â—Ź
470.31 ($551.62) 640.93
$475.19
-13.86%
Add 11.38%
141,213
14,425
QCOM 		Qualcomm Inc2022-05-31Add
+0.23%
â—Ź
128.53 ($143.25) 162.26
$115.62
-19.29%
Add 11.81%
578,344
61,109
UHAL 		Amerco Inc2022-05-31Add
+0.20%
â—Ź
48.7 ($55.98) 62.66
$54.60
-2.47%
Add 10.86%
1,578,430
15,464
CLR 		Continental Resources Inc2022-05-31Add
+0.13%
â—Ź
55.02 ($60.76) 69.01
$74.27
22.24%
Add 1.18%
6,424,270
74,809
CLR 		Continental Resources Inc2022-02-28Add
+1.62%
â—Ź
42.68 ($49.57) 59.64
$74.27
49.83%
Add 20%
6,349,461
1,058,232
OXY 		Occidental Petroleum Corp2022-02-28Add
+1.61%
â—Ź
26.98 ($34.3) 43.73
$59.69
74.02%
Add 39.83%
4,686,936
1,335,004
100/Page
Total 178
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