Smead Value Fund

Smead Value Fund | SMVLX

Mutual Fund
Smead Value Fund
Last update 2025-07-23 30 Stocks (1 new)
Value $4.17 Bil Turnover 5 %
Countries:

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 Manager 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 Top Holdings of 2025-05-31 View Full List
Ticker
Company
Shares
Value ($1000)
Shares Change %
Weighting %
Trade Impact %
% of Shares outstanding
3M Change %
YTD Change %
Market Cap $Mil
Industry
SPG
Simon Property Group Inc
1,839,958
300,042.0
-13.45%
7.190
-1.00%
0.560
+9.55%
-1.28%
54,101.7
REITs
AMGN
Amgen Inc
823,579
237,339.0
-13.45%
5.690
-0.74%
0.150
+12.25%
+20.65%
166,269.5
Drug Manufacturers
AXP
American Express Co
789,547
232,166.3
-29.34%
5.560
-1.85%
0.110
+18.95%
+4.85%
214,791.0
Credit Services
MAC
Macerich Co
14,342,962
232,069.1
-13.45%
5.560
-0.75%
5.670
+24.55%
-9.31%
4,481.2
REITs
DHI
D.R. Horton Inc
1,766,626
208,567.9
-13.45%
5.000
-0.65%
0.590
+19.11%
+6.62%
44,294.7
Homebuilding & Construction
MRK
Merck & Co Inc
2,626,027
201,783.9
-13.45%
4.830
-0.70%
0.100
+7.72%
-14.00%
210,876.4
Drug Manufacturers
LEN
Lennar Corp
1,872,007
198,582.5
-13.45%
4.760
-0.65%
0.720
+9.48%
-5.92%
30,227.0
Homebuilding & Construction
TSX:CVE
Cenovus Energy Inc
14,595,036
192,282.0
+23.74%
4.610
+0.88%
0.800
+20.96%
-6.80%
36,112.3
Oil & Gas
EBAY
eBay Inc
2,616,602
191,456.8
-13.45%
4.590
-0.49%
0.570
+23.45%
+33.38%
37,756.9
Retail - Cyclical
NVR
NVR Inc
25,421
180,894.1
-13.45%
4.330
-0.54%
0.870
+11.53%
-3.41%
21,934.0
Homebuilding & Construction

Smead Value Fund's Historical Top Holdings Breakdowns

Smead Value Fund's Top Stock Picks View Full List
Ticker
Company
Date
Action
Impact %
Price Range
Price
Price Change from Avrg%
Comment
Current Shares
Share Change
FANG
Diamondback Energy Inc
2025-05-31
New Buy
New Buy
+3.03%
â—Ź
119.25 ($141.22) 163.09
$143.69
1.75%
New holding
940,548
940,548
AXP
American Express Co
2025-05-31
Reduce
Reduce
-1.85%
â—Ź
231.39 ($271.38) 302.3
$308.66
13.74%
Reduce -29.34%
789,547
-327,912
DVN
Devon Energy Corp
2025-05-31
Reduce
Reduce
-1.78%
â—Ź
26.8 ($32.64) 37.92
$33.24
1.84%
Reduce -55.06%
2,142,892
-2,625,662
BRK.B
Berkshire Hathaway Inc
2025-05-31
Sold Out
Sold Out
-1.65%
â—Ź
490.38 ($516.05) 539.8
$482.63
-6.48%
Sold Out
0
-172,002
BAC
Bank of America Corp
2025-05-31
Reduce
Reduce
-1.63%
â—Ź
34.39 ($40.88) 44.77
$48.14
17.76%
Reduce -36.76%
3,256,484
-1,893,315
OXY
Occidental Petroleum Corp
2025-05-31
Reduce
Reduce
-1.61%
â—Ź
36.11 ($43.04) 49.75
$44.44
3.25%
Reduce -33.07%
3,574,702
-1,766,426
JPM
JPMorgan Chase & Co
2025-05-31
Reduce
Reduce
-1.58%
â—Ź
210.28 ($244.78) 267.56
$296.76
21.24%
Reduce -35.6%
578,330
-319,736
SPG
Simon Property Group Inc
2025-05-31
Reduce
Reduce
-1.00%
â—Ź
140.37 ($160.48) 183.58
$165.74
3.28%
Reduce -13.45%
1,839,958
-285,967
OVV
Ovintiv Inc
2025-05-31
Reduce
Reduce
-0.99%
â—Ź
31.18 ($37.21) 44.14
$39.47
6.07%
Reduce -23.82%
3,894,873
-1,218,170
TSX:CVE
Cenovus Energy Inc
2025-05-31
Add
Add
+0.88%
â—Ź
15.14 (C$18.05) 20.51
C$19.91
10.30%
Add 23.74%
14,595,036
2,799,926

Smead Value Fund Total Holding History ($B)

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Smead Value Fund's Asset Allocation

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Smead Value Fund Past Portfolios

Portfolio Date Number of Stocks New Stocks Total Value ($Mil) Q/Q Turnover

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Smead Value Fund's Hypothetical Growth since 2025-05-31

Smead Value Fund's Yearly Returns

Year Portfolio % % Excess Gain %

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