Smead Value Fund | SMVLXMutual Fund | |
Smead Value Fund | |
Last update 2024-10-22 | 27 Stocks (0 new) |
Value $6.01 Bil | Turnover 3 % |
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 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 Portfolio and Latest Trades
Ticker |
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Ticker |
TSX:CVE |
CVX |
DVN |
APA |
WBD |
NVR |
DVN |
APA |
OXY |
APA |
WAL |
COP |
FITB |
MTB |
PFE |
AXP |
WBD |
BAC |
OVV |
LEN |
NVR |
DHI |
APA |
DHI |
AMGN |
DVN |
LEN |
WBD |
OXY |
DVN |
TSX:CVE |
APA |
TGT |
OVV |
WBD |
AXP |
LEN |
MRK |
BAC |
SPG |
AXP |
QCOM |
COP |
JPM |
AXP |
NVR |
DHI |
OXY |
MRK |
AMGN |
SPG |
SPG |
MAC |
MRK |
JPM |
AMGN |
TGT |
OVV |
MAC |
JPM |
BAC |
MRK |
COP |
EBAY |
CVX |
LEN |
DHI |
HD |
NVR |
UHAL.B |
SPG |
MAC |
EBAY |
AMGN |
TGT |
QCOM |
HD |
UHAL.B |
JPM |
LEN |
MAC |
BAC |
NVR |
DHI |
QCOM |
MRK |
AXP |
SPG |
OXY |
CACC |
DVN |
OVV |
APA |
EBAY |
COP |
NVR |
HD |
CACC |
AMGN |
OVV |
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 |
TSX:CVE | Cenovus Energy Inc | 2024-05-31 | New Buy | +3.21% | 23.7 (C$27.44) 29.81 | C$21.11 | -23.07% | New holding | 8,902,595 | 8,902,595 | |
CVX | Chevron Corp | 2023-05-31 | Sold Out | -2.72% | 150.62 ($161.35) 172.44 | $143.84 | -10.85% | Sold Out | 0 | -744,401 | |
DVN | Devon Energy Corp | 2023-05-31 | New Buy | +2.54% | 45.12 ($50.6) 56.49 | $31.24 | -38.26% | New holding | 2,261,114 | 2,261,114 | |
APA | APA Corp | 2023-02-28 | New Buy | +2.03% | 37.86 ($43.57) 47.64 | $21.87 | -49.80% | 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 | $10.55 | -16.40% | Add 87.41% | 10,898,677 | 5,083,146 | |
NVR | NVR Inc | 2023-05-31 | Reduce | -1.37% | 5235.47 ($5625.95) 5967.22 | $8,259.37 | 46.81% | Reduce -24.57% | 35,884 | -11,691 | |
DVN | Devon Energy Corp | 2024-05-31 | Add | +1.27% | 44.37 ($49.99) 54.51 | $31.24 | -37.51% | Add 43.45% | 4,944,009 | 1,497,606 | |
APA | APA Corp | 2023-05-31 | Add | +1.25% | 31.63 ($35.5) 40.78 | $21.87 | -38.39% | Add 68.96% | 3,937,840 | 1,607,209 | |
OXY | Occidental Petroleum Corp | 2023-11-30 | Reduce | -1.24% | 59.15 ($63.04) 67.3 | $48.12 | -23.67% | Reduce -14.99% | 5,209,637 | -918,825 | |
APA | APA Corp | 2024-05-31 | Add | +1.22% | 29.17 ($32) 35.74 | $21.87 | -31.66% | Add 39.55% | 8,131,322 | 2,304,653 | |
WAL | Western Alliance Bancorp | 2023-11-30 | New Buy | +1.21% | 40.1 ($46.12) 51.39 | $84.75 | 83.76% | New holding | 1,049,360 | 1,049,360 | |
COP | ConocoPhillips | 2023-11-30 | Reduce | -1.16% | 111.99 ($119.31) 126.59 | $97.11 | -18.61% | 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 | $43.04 | 67.67% | 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 | $190.91 | 56.10% | New holding | 383,863 | 383,863 | |
PFE | Pfizer Inc | 2023-11-30 | Sold Out | -0.99% | 28.98 ($32.02) 35.78 | $26.74 | -16.49% | Sold Out | 0 | -1,292,486 | |
AXP | American Express Co | 2024-08-31 | Reduce | -0.86% | 222.19 ($239.79) 259.84 | $303.46 | 26.55% | Reduce -12.84% | 1,409,938 | -207,798 | |
WBD | Warner Bros. Discovery Inc | 2024-08-31 | Sold Out | -0.86% | 6.71 ($7.73) 8.78 | $10.55 | 36.48% | Sold Out | 0 | -6,063,706 | |
BAC | Bank of America Corp | 2023-02-28 | Add | +0.86% | 31.7 ($34.33) 37.85 | $44.38 | 29.27% | Add 25.03% | 5,497,339 | 1,100,664 | |
OVV | Ovintiv Inc | 2023-02-28 | Add | +0.77% | 42.77 ($48.99) 55.76 | $38.76 | -20.88% | Add 23.7% | 4,141,145 | 793,411 | |
LEN | Lennar Corp | 2023-11-30 | Reduce | -0.76% | 103.07 ($115.64) 128.3 | $138.00 | 19.34% | Reduce -10.97% | 2,402,370 | -296,138 | |
NVR | NVR Inc | 2024-05-31 | Reduce | -0.76% | 7335.26 ($7699.2) 8099.96 | $8,259.37 | 7.28% | Reduce -14.52% | 30,452 | -5,171 | |
DHI | D.R. Horton Inc | 2023-11-30 | Reduce | -0.75% | 100.66 ($113.29) 128.9 | $141.05 | 24.50% | Reduce -11.26% | 2,305,579 | -292,481 | |
APA | APA Corp | 2024-02-29 | Add | +0.68% | 29.62 ($32.81) 37.29 | $21.87 | -33.34% | Add 25.45% | 5,826,669 | 1,181,875 | |
DHI | D.R. Horton Inc | 2024-05-31 | Reduce | -0.67% | 141.38 ($151.01) 164.55 | $141.05 | -6.60% | Reduce -9.92% | 2,116,301 | -233,064 | |
AMGN | Amgen Inc | 2023-11-30 | Reduce | -0.65% | 249.01 ($267.71) 286.88 | $264.49 | -1.20% | Reduce -11.36% | 912,041 | -116,917 | |
DVN | Devon Energy Corp | 2023-11-30 | Add | +0.62% | 42.85 ($47.42) 53.5 | $31.24 | -34.12% | Add 22.18% | 3,383,280 | 614,228 | |
LEN | Lennar Corp | 2024-05-31 | Reduce | -0.62% | 150.19 ($160.1) 171.98 | $138.00 | -13.80% | Reduce -8.36% | 2,242,540 | -204,624 | |
WBD | Warner Bros. Discovery Inc | 2023-11-30 | Reduce | -0.58% | 9.4 ($10.76) 13.14 | $10.55 | -1.95% | Reduce -18.75% | 8,882,138 | -2,050,360 | |
OXY | Occidental Petroleum Corp | 2023-02-28 | Add | +0.58% | 58.42 ($63.69) 69.49 | $48.12 | -24.45% | Add 7.7% | 6,106,809 | 436,558 | |
DVN | Devon Energy Corp | 2023-08-31 | Add | +0.56% | 46.78 ($49.95) 54 | $31.24 | -37.46% | Add 22.46% | 2,769,052 | 507,938 | |
TSX:CVE | Cenovus Energy Inc | 2024-08-31 | Add | +0.56% | 24.66 (C$26.38) 28.24 | C$21.11 | -19.98% | Add 20.35% | 10,714,559 | 1,811,964 | |
APA | APA Corp | 2023-11-30 | Add | +0.54% | 35.85 ($40.09) 45.32 | $21.87 | -45.45% | Add 16.75% | 4,644,794 | 666,501 | |
TGT | Target Corp | 2023-11-30 | Reduce | -0.53% | 105.01 ($116.24) 133.81 | $132.40 | 13.90% | Reduce -16.91% | 961,328 | -195,618 | |
OVV | Ovintiv Inc | 2023-05-31 | Add | +0.51% | 32.08 ($36.13) 44.01 | $38.76 | 7.28% | Add 15.36% | 4,777,374 | 636,229 | |
WBD | Warner Bros. Discovery Inc | 2024-05-31 | Reduce | -0.50% | 7.36 ($8.3) 9.07 | $10.55 | 27.11% | Reduce -32.98% | 6,063,706 | -2,983,888 | |
AXP | American Express Co | 2023-11-30 | Reduce | -0.46% | 141.31 ($154.16) 170.77 | $303.46 | 96.85% | Reduce -8.23% | 1,495,307 | -134,032 | |
LEN | Lennar Corp | 2023-02-28 | Add | +0.45% | 85.9 ($95.6) 108.08 | $138.00 | 44.35% | Add 8.14% | 2,693,420 | 202,767 | |
MRK | Merck & Co Inc | 2023-02-28 | Add | +0.45% | 102.94 ($109.31) 114.84 | $99.45 | -9.02% | Add 7.36% | 2,699,562 | 185,050 | |
BAC | Bank of America Corp | 2023-11-30 | Add | +0.44% | 25.17 ($27.83) 30.49 | $44.38 | 59.47% | Add 11.73% | 6,167,320 | 647,255 | |
SPG | Simon Property Group Inc | 2023-02-28 | Add | +0.44% | 115.06 ($121.62) 131.79 | $173.35 | 42.53% | Add 7.89% | 2,162,920 | 158,090 | |
AXP | American Express Co | 2023-02-28 | Add | +0.43% | 144.01 ($160.45) 181.33 | $303.46 | 89.13% | Add 7.21% | 1,622,586 | 109,129 | |
QCOM | Qualcomm Inc | 2024-08-31 | Reduce | -0.43% | 156.12 ($189.6) 227.09 | $159.36 | -15.95% | Reduce -16.98% | 594,879 | -121,682 | |
COP | ConocoPhillips | 2023-02-28 | Add | +0.40% | 103.35 ($114.88) 124.65 | $97.11 | -15.47% | Add 8.51% | 2,148,882 | 168,511 | |
JPM | JPMorgan Chase & Co | 2024-08-31 | Reduce | -0.40% | 191.53 ($206.52) 224.8 | $242.31 | 17.33% | Reduce -8.53% | 1,219,613 | -113,803 | |
AXP | American Express Co | 2024-05-31 | Add | +0.39% | 217.2 ($229.43) 243.08 | $303.46 | 32.27% | Add 6.19% | 1,617,736 | 94,304 | |
NVR | NVR Inc | 2023-02-28 | Add | +0.38% | 4557.92 ($4906.67) 5405.67 | $8,259.37 | 68.33% | Add 7.33% | 47,575 | 3,248 | |
DHI | D.R. Horton Inc | 2023-02-28 | Add | +0.38% | 83.91 ($92.52) 102.94 | $141.05 | 52.45% | Add 7.39% | 2,598,726 | 178,793 | |
OXY | Occidental Petroleum Corp | 2024-05-31 | Add | +0.36% | 60.58 ($64.6) 69.26 | $48.12 | -25.51% | Add 6.19% | 5,636,256 | 328,558 | |
MRK | Merck & Co Inc | 2024-05-31 | Add | +0.35% | 120.51 ($127.07) 131.95 | $99.45 | -21.74% | Add 6.19% | 2,799,101 | 163,170 | |
AMGN | Amgen Inc | 2023-02-28 | Add | +0.34% | 231.66 ($260.08) 286.4 | $264.49 | 1.70% | Add 6.72% | 1,028,454 | 64,749 | |
SPG | Simon Property Group Inc | 2024-05-31 | Add | +0.34% | 140.18 ($147.86) 156.49 | $173.35 | 17.24% | Add 6.19% | 2,204,147 | 128,488 | |
SPG | Simon Property Group Inc | 2023-11-30 | Reduce | -0.32% | 103.37 ($112.76) 124.89 | $173.35 | 53.73% | Reduce -6.04% | 2,037,652 | -130,946 | |
MAC | Macerich Co | 2024-05-31 | Reduce | -0.32% | 13.46 ($15.78) 17.24 | $20.23 | 28.20% | Reduce -5.53% | 17,181,913 | -1,006,189 | |
MRK | Merck & Co Inc | 2024-08-31 | Reduce | -0.32% | 111.15 ($123.02) 132.96 | $99.45 | -19.16% | Reduce -5.34% | 2,649,538 | -149,563 | |
JPM | JPMorgan Chase & Co | 2023-02-28 | Add | +0.30% | 129.29 ($137.17) 143.8 | $242.31 | 76.65% | Add 7.86% | 1,271,913 | 92,717 | |
AMGN | Amgen Inc | 2024-05-31 | Add | +0.30% | 262.75 ($284.4) 319.04 | $264.49 | -7.00% | Add 6.19% | 986,593 | 57,512 | |
TGT | Target Corp | 2023-02-28 | Add | +0.29% | 141.35 ($160.9) 181.02 | $132.40 | -17.71% | Add 7.14% | 1,154,577 | 76,929 | |
OVV | Ovintiv Inc | 2024-05-31 | Add | +0.28% | 48.28 ($51.4) 55.56 | $38.76 | -24.59% | Add 6.19% | 5,301,173 | 309,025 | |
MAC | Macerich Co | 2023-02-28 | Add | +0.27% | 11.05 ($12.46) 14.22 | $20.23 | 62.36% | Add 5.65% | 18,794,274 | 1,004,908 | |
JPM | JPMorgan Chase & Co | 2024-05-31 | Add | +0.27% | 180.08 ($194.02) 204.79 | $242.31 | 24.89% | Add 6.19% | 1,333,416 | 77,730 | |
BAC | Bank of America Corp | 2024-05-31 | Add | +0.27% | 34.68 ($37.33) 39.99 | $44.38 | 18.89% | Add 6.19% | 6,675,124 | 389,117 | |
MRK | Merck & Co Inc | 2023-11-30 | Reduce | -0.26% | 100.18 ($104.19) 109.84 | $99.45 | -4.55% | Reduce -4.08% | 2,587,643 | -109,944 | |
COP | ConocoPhillips | 2024-05-31 | Add | +0.22% | 111.22 ($123.51) 133.52 | $97.11 | -21.37% | Add 6.19% | 1,847,365 | 107,690 | |
EBAY | eBay Inc | 2023-02-28 | Add | +0.22% | 39.92 ($45.58) 51.66 | $63.78 | 39.93% | Add 7.61% | 2,993,967 | 211,647 | |
CVX | Chevron Corp | 2023-02-28 | Add | +0.20% | 160.35 ($173.46) 187.79 | $143.84 | -17.08% | Add 8.04% | 744,401 | 55,410 | |
LEN | Lennar Corp | 2024-08-31 | Add | +0.19% | 142.5 ($163.83) 185.02 | $138.00 | -15.77% | Add 2.87% | 2,306,948 | 64,408 | |
DHI | D.R. Horton Inc | 2024-08-31 | Add | +0.19% | 135.21 ($161.2) 191.79 | $141.05 | -12.50% | Add 2.87% | 2,177,083 | 60,782 | |
HD | The Home Depot Inc | 2023-02-28 | Add | +0.19% | 295.5 ($319.08) 339.79 | $396.14 | 24.15% | Add 7.28% | 415,454 | 28,207 | |
NVR | NVR Inc | 2023-11-30 | Reduce | -0.18% | 5377.29 ($5986.85) 6509.35 | $8,259.37 | 37.96% | Reduce -3.53% | 34,971 | -1,281 | |
UHAL.B | U-Haul Holding Co | 2023-02-28 | Add | +0.18% | 52.6 ($58.78) 66.74 | $64.63 | 9.95% | Add 8.54% | 1,809,594 | 142,393 | |
SPG | Simon Property Group Inc | 2024-08-31 | Add | +0.18% | 146.09 ($153.57) 168.05 | $173.35 | 12.88% | Add 2.87% | 2,267,452 | 63,305 | |
MAC | Macerich Co | 2023-11-30 | Reduce | -0.17% | 9.71 ($11) 12.23 | $20.23 | 83.91% | Reduce -3.53% | 18,161,584 | -665,245 | |
EBAY | eBay Inc | 2024-05-31 | Add | +0.17% | 48.91 ($51.48) 54.41 | $63.78 | 23.89% | Add 6.19% | 3,134,515 | 182,723 | |
AMGN | Amgen Inc | 2024-08-31 | Add | +0.16% | 298.5 ($320.7) 335.97 | $264.49 | -17.53% | Add 2.87% | 1,014,929 | 28,336 | |
TGT | Target Corp | 2024-05-31 | Add | +0.16% | 143.27 ($164.04) 177.82 | $132.40 | -19.29% | Add 6.19% | 1,039,881 | 60,619 | |
QCOM | Qualcomm Inc | 2024-05-31 | Add | +0.15% | 157.63 ($176.62) 213.08 | $159.36 | -9.77% | Add 6.19% | 716,561 | 41,771 | |
HD | The Home Depot Inc | 2024-05-31 | Add | +0.15% | 325.1 ($352.75) 395.2 | $396.14 | 12.30% | Add 6.19% | 434,280 | 25,316 | |
UHAL.B | U-Haul Holding Co | 2024-05-31 | Add | +0.15% | 59.57 ($64.13) 66.97 | $64.63 | 0.78% | Add 7.64% | 2,018,007 | 143,180 | |
JPM | JPMorgan Chase & Co | 2023-11-30 | Reduce | -0.14% | 135.69 ($146.15) 156.08 | $242.31 | 65.80% | Reduce -3.53% | 1,232,267 | -45,110 | |
LEN | Lennar Corp | 2024-02-29 | Add | +0.14% | 127.92 ($148.53) 158.51 | $138.00 | -7.09% | Add 1.86% | 2,447,164 | 44,794 | |
MAC | Macerich Co | 2024-08-31 | Add | +0.13% | 14.34 ($15.23) 16.73 | $20.23 | 32.83% | Add 2.87% | 17,675,396 | 493,483 | |
BAC | Bank of America Corp | 2024-08-31 | Add | +0.13% | 36.65 ($40.08) 44.13 | $44.38 | 10.73% | Add 2.87% | 6,866,841 | 191,717 | |
NVR | NVR Inc | 2024-08-31 | Add | +0.13% | 7421.51 ($8181.78) 9321.27 | $8,259.37 | 0.95% | Add 2.87% | 31,327 | 875 | |
DHI | D.R. Horton Inc | 2024-02-29 | Add | +0.13% | 127.67 ($145.76) 157.7 | $141.05 | -3.23% | Add 1.9% | 2,349,365 | 43,786 | |
QCOM | Qualcomm Inc | 2023-02-28 | Add | +0.13% | 106.97 ($122.69) 138.46 | $159.36 | 29.89% | Add 7.11% | 685,067 | 45,456 | |
MRK | Merck & Co Inc | 2024-02-29 | Add | +0.12% | 102.48 ($117.05) 129.45 | $99.45 | -15.04% | Add 1.87% | 2,635,931 | 48,288 | |
AXP | American Express Co | 2024-02-29 | Add | +0.12% | 167.51 ($192.35) 219.42 | $303.46 | 57.76% | Add 1.88% | 1,523,432 | 28,125 | |
SPG | Simon Property Group Inc | 2024-02-29 | Add | +0.11% | 124.89 ($142.07) 151.51 | $173.35 | 22.02% | Add 1.87% | 2,075,659 | 38,007 | |
OXY | Occidental Petroleum Corp | 2024-02-29 | Add | +0.11% | 55.55 ($58.46) 61.44 | $48.12 | -17.69% | Add 1.88% | 5,307,698 | 98,061 | |
CACC | Credit Acceptance Corp | 2023-02-28 | Add | +0.11% | 378.22 ($454.07) 548.99 | $468.79 | 3.24% | Add 7.21% | 167,416 | 11,261 | |
DVN | Devon Energy Corp | 2024-08-31 | Add | +0.11% | 41.48 ($45.94) 48.65 | $31.24 | -32.00% | Add 2.87% | 5,086,006 | 141,997 | |
OVV | Ovintiv Inc | 2024-08-31 | Add | +0.11% | 39.92 ($45.54) 48.89 | $38.76 | -14.89% | Add 2.87% | 5,453,428 | 152,255 | |
APA | APA Corp | 2024-08-31 | Add | +0.11% | 27.02 ($29.34) 32.22 | $21.87 | -25.46% | Add 2.87% | 8,364,862 | 233,540 | |
EBAY | eBay Inc | 2023-11-30 | Reduce | -0.10% | 37.99 ($41.87) 45.1 | $63.78 | 52.33% | Reduce -3.53% | 2,896,462 | -106,057 | |
COP | ConocoPhillips | 2024-08-31 | Add | +0.10% | 104.57 ($111.67) 116.61 | $97.11 | -13.04% | Add 2.87% | 1,900,423 | 53,058 | |
NVR | NVR Inc | 2024-02-29 | Add | +0.10% | 6155.39 ($7071.44) 7625.57 | $8,259.37 | 16.80% | Add 1.86% | 35,623 | 652 | |
HD | The Home Depot Inc | 2023-11-30 | Reduce | -0.10% | 276.46 ($302.93) 333.08 | $396.14 | 30.77% | Reduce -3.53% | 401,446 | -14,704 | |
CACC | Credit Acceptance Corp | 2024-05-31 | Add | +0.09% | 476.01 ($529.68) 572.49 | $468.79 | -11.50% | Add 6.19% | 174,842 | 10,192 | |
AMGN | Amgen Inc | 2024-02-29 | Add | +0.09% | 269.12 ($292.48) 324.56 | $264.49 | -9.57% | Add 1.87% | 929,081 | 17,040 | |
OVV | Ovintiv Inc | 2024-02-29 | Add | +0.09% | 40.27 ($43.11) 49.41 | $38.76 | -10.09% | Add 1.87% | 4,992,148 | 91,412 |
Total 185
Smead Value Fund News
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