Smead Value Fund

Smead Value Fund | SMVLX

Mutual Fund
Smead Value Fund
Last update 2024-10-22 27 Stocks (0 new)
Value $6.01 Bil Turnover 3 %
Countries:
Top Holdings: LEN(6.98%)DHI(6.83%)SPG(6.31%)AXP(6.06%)AMGN(5.63%)
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).
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
TSX:CVE 		Cenovus Energy Inc2024-05-31New Buy
+3.21%
●
23.7 (C$27.44) 29.81
C$22.18
-19.17%
New holding
8,902,595
8,902,595
CVX 		Chevron Corp2023-05-31Sold Out
-2.72%
●
150.62 ($161.35) 172.44
$161.93
0.36%
Sold Out
0
-744,401
DVN 		Devon Energy Corp2023-05-31New Buy
+2.54%
●
45.12 ($50.6) 56.49
$37.95
-25.00%
New holding
2,261,114
2,261,114
APA 		APA Corp2023-02-28New Buy
+2.03%
●
37.86 ($43.57) 47.64
$22.65
-48.01%
New holding
2,330,631
2,330,631
WBD 		Warner Bros. Discovery Inc2023-02-28Add
+1.80%
●
8.87 ($12.62) 15.94
$10.48
-16.96%
Add 87.41%
10,898,677
5,083,146
NVR 		NVR Inc2023-05-31Reduce
-1.37%
●
5235.47 ($5625.95) 5967.22
$9,235.58
64.16%
Reduce -24.57%
35,884
-11,691
DVN 		Devon Energy Corp2024-05-31Add
+1.27%
●
44.37 ($49.99) 54.51
$37.95
-24.08%
Add 43.45%
4,944,009
1,497,606
APA 		APA Corp2023-05-31Add
+1.25%
●
31.63 ($35.5) 40.78
$22.65
-36.20%
Add 68.96%
3,937,840
1,607,209
OXY 		Occidental Petroleum Corp2023-11-30Reduce
-1.24%
●
59.15 ($63.04) 67.3
$50.58
-19.77%
Reduce -14.99%
5,209,637
-918,825
APA 		APA Corp2024-05-31Add
+1.22%
●
29.17 ($32) 35.74
$22.65
-29.22%
Add 39.55%
8,131,322
2,304,653
WAL 		Western Alliance Bancorp2023-11-30New Buy
+1.21%
●
40.1 ($46.12) 51.39
$93.61
102.97%
New holding
1,049,360
1,049,360
COP 		ConocoPhillips2023-11-30Reduce
-1.16%
●
111.99 ($119.31) 126.59
$108.34
-9.19%
Reduce -20.98%
1,707,805
-453,520
FITB 		Fifth Third Bancorp2023-11-30New Buy
+1.13%
●
22.89 ($25.67) 28.95
$48.06
87.22%
New holding
1,729,502
1,729,502
MTB 		M&T Bank Corp2023-11-30New Buy
+1.11%
●
108.94 ($122.3) 129.61
$219.99
79.88%
New holding
383,863
383,863
PFE 		Pfizer Inc2023-11-30Sold Out
-0.99%
●
28.98 ($32.02) 35.78
$26.21
-18.14%
Sold Out
0
-1,292,486
AXP 		American Express Co2024-08-31Reduce
-0.86%
●
222.19 ($239.79) 259.84
$304.68
27.06%
Reduce -12.84%
1,409,938
-207,798
WBD 		Warner Bros. Discovery Inc2024-08-31Sold Out
-0.86%
●
6.71 ($7.73) 8.78
$10.48
35.58%
Sold Out
0
-6,063,706
BAC 		Bank of America Corp2023-02-28Add
+0.86%
●
31.7 ($34.33) 37.85
$47.51
38.39%
Add 25.03%
5,497,339
1,100,664
OVV 		Ovintiv Inc2023-02-28Add
+0.77%
●
42.77 ($48.99) 55.76
$45.42
-7.29%
Add 23.7%
4,141,145
793,411
LEN 		Lennar Corp2023-11-30Reduce
-0.76%
●
103.07 ($115.64) 128.3
$174.39
50.80%
Reduce -10.97%
2,402,370
-296,138
NVR 		NVR Inc2024-05-31Reduce
-0.76%
●
7335.26 ($7699.2) 8099.96
$9,235.58
19.96%
Reduce -14.52%
30,452
-5,171
DHI 		D.R. Horton Inc2023-11-30Reduce
-0.75%
●
100.66 ($113.29) 128.9
$168.78
48.98%
Reduce -11.26%
2,305,579
-292,481
APA 		APA Corp2024-02-29Add
+0.68%
●
29.62 ($32.81) 37.29
$22.65
-30.97%
Add 25.45%
5,826,669
1,181,875
DHI 		D.R. Horton Inc2024-05-31Reduce
-0.67%
●
141.38 ($151.01) 164.55
$168.78
11.77%
Reduce -9.92%
2,116,301
-233,064
AMGN 		Amgen Inc2023-11-30Reduce
-0.65%
●
249.01 ($267.71) 286.88
$282.87
5.66%
Reduce -11.36%
912,041
-116,917
DVN 		Devon Energy Corp2023-11-30Add
+0.62%
●
42.85 ($47.42) 53.5
$37.95
-19.97%
Add 22.18%
3,383,280
614,228
LEN 		Lennar Corp2024-05-31Reduce
-0.62%
●
150.19 ($160.1) 171.98
$174.39
8.93%
Reduce -8.36%
2,242,540
-204,624
WBD 		Warner Bros. Discovery Inc2023-11-30Reduce
-0.58%
●
9.4 ($10.76) 13.14
$10.48
-2.60%
Reduce -18.75%
8,882,138
-2,050,360
OXY 		Occidental Petroleum Corp2023-02-28Add
+0.58%
●
58.42 ($63.69) 69.49
$50.58
-20.58%
Add 7.7%
6,106,809
436,558
DVN 		Devon Energy Corp2023-08-31Add
+0.56%
●
46.78 ($49.95) 54
$37.95
-24.02%
Add 22.46%
2,769,052
507,938
TSX:CVE 		Cenovus Energy Inc2024-08-31Add
+0.56%
●
24.66 (C$26.38) 28.24
C$22.18
-15.92%
Add 20.35%
10,714,559
1,811,964
APA 		APA Corp2023-11-30Add
+0.54%
●
35.85 ($40.09) 45.32
$22.65
-43.50%
Add 16.75%
4,644,794
666,501
TGT 		Target Corp2023-11-30Reduce
-0.53%
●
105.01 ($116.24) 133.81
$132.31
13.82%
Reduce -16.91%
961,328
-195,618
OVV 		Ovintiv Inc2023-05-31Add
+0.51%
●
32.08 ($36.13) 44.01
$45.42
25.71%
Add 15.36%
4,777,374
636,229
WBD 		Warner Bros. Discovery Inc2024-05-31Reduce
-0.50%
●
7.36 ($8.3) 9.07
$10.48
26.27%
Reduce -32.98%
6,063,706
-2,983,888
AXP 		American Express Co2023-11-30Reduce
-0.46%
●
141.31 ($154.16) 170.77
$304.68
97.64%
Reduce -8.23%
1,495,307
-134,032
LEN 		Lennar Corp2023-02-28Add
+0.45%
●
85.9 ($95.6) 108.08
$174.39
82.42%
Add 8.14%
2,693,420
202,767
MRK 		Merck & Co Inc2023-02-28Add
+0.45%
●
102.94 ($109.31) 114.84
$101.64
-7.02%
Add 7.36%
2,699,562
185,050
BAC 		Bank of America Corp2023-11-30Add
+0.44%
●
25.17 ($27.83) 30.49
$47.51
70.72%
Add 11.73%
6,167,320
647,255
SPG 		Simon Property Group Inc2023-02-28Add
+0.44%
●
115.06 ($121.62) 131.79
$183.60
50.96%
Add 7.89%
2,162,920
158,090
AXP 		American Express Co2023-02-28Add
+0.43%
●
144.01 ($160.45) 181.33
$304.68
89.89%
Add 7.21%
1,622,586
109,129
QCOM 		Qualcomm Inc2024-08-31Reduce
-0.43%
●
156.12 ($189.6) 227.09
$158.53
-16.39%
Reduce -16.98%
594,879
-121,682
COP 		ConocoPhillips2023-02-28Add
+0.40%
●
103.35 ($114.88) 124.65
$108.34
-5.69%
Add 8.51%
2,148,882
168,511
JPM 		JPMorgan Chase & Co2024-08-31Reduce
-0.40%
●
191.53 ($206.52) 224.8
$249.72
20.92%
Reduce -8.53%
1,219,613
-113,803
AXP 		American Express Co2024-05-31Add
+0.39%
●
217.2 ($229.43) 243.08
$304.68
32.80%
Add 6.19%
1,617,736
94,304
NVR 		NVR Inc2023-02-28Add
+0.38%
●
4557.92 ($4906.67) 5405.67
$9,235.58
88.23%
Add 7.33%
47,575
3,248
DHI 		D.R. Horton Inc2023-02-28Add
+0.38%
●
83.91 ($92.52) 102.94
$168.78
82.43%
Add 7.39%
2,598,726
178,793
OXY 		Occidental Petroleum Corp2024-05-31Add
+0.36%
●
60.58 ($64.6) 69.26
$50.58
-21.70%
Add 6.19%
5,636,256
328,558
MRK 		Merck & Co Inc2024-05-31Add
+0.35%
●
120.51 ($127.07) 131.95
$101.64
-20.01%
Add 6.19%
2,799,101
163,170
AMGN 		Amgen Inc2023-02-28Add
+0.34%
●
231.66 ($260.08) 286.4
$282.87
8.76%
Add 6.72%
1,028,454
64,749
SPG 		Simon Property Group Inc2024-05-31Add
+0.34%
●
140.18 ($147.86) 156.49
$183.60
24.17%
Add 6.19%
2,204,147
128,488
SPG 		Simon Property Group Inc2023-11-30Reduce
-0.32%
●
103.37 ($112.76) 124.89
$183.60
62.82%
Reduce -6.04%
2,037,652
-130,946
MAC 		Macerich Co2024-05-31Reduce
-0.32%
●
13.46 ($15.78) 17.24
$21.21
34.41%
Reduce -5.53%
17,181,913
-1,006,189
MRK 		Merck & Co Inc2024-08-31Reduce
-0.32%
●
111.15 ($123.02) 132.96
$101.64
-17.38%
Reduce -5.34%
2,649,538
-149,563
JPM 		JPMorgan Chase & Co2023-02-28Add
+0.30%
●
129.29 ($137.17) 143.8
$249.72
82.05%
Add 7.86%
1,271,913
92,717
AMGN 		Amgen Inc2024-05-31Add
+0.30%
●
262.75 ($284.4) 319.04
$282.87
-0.54%
Add 6.19%
986,593
57,512
TGT 		Target Corp2023-02-28Add
+0.29%
●
141.35 ($160.9) 181.02
$132.31
-17.77%
Add 7.14%
1,154,577
76,929
OVV 		Ovintiv Inc2024-05-31Add
+0.28%
●
48.28 ($51.4) 55.56
$45.42
-11.63%
Add 6.19%
5,301,173
309,025
MAC 		Macerich Co2023-02-28Add
+0.27%
●
11.05 ($12.46) 14.22
$21.21
70.22%
Add 5.65%
18,794,274
1,004,908
JPM 		JPMorgan Chase & Co2024-05-31Add
+0.27%
●
180.08 ($194.02) 204.79
$249.72
28.71%
Add 6.19%
1,333,416
77,730
BAC 		Bank of America Corp2024-05-31Add
+0.27%
●
34.68 ($37.33) 39.99
$47.51
27.27%
Add 6.19%
6,675,124
389,117
MRK 		Merck & Co Inc2023-11-30Reduce
-0.26%
●
100.18 ($104.19) 109.84
$101.64
-2.45%
Reduce -4.08%
2,587,643
-109,944
COP 		ConocoPhillips2024-05-31Add
+0.22%
●
111.22 ($123.51) 133.52
$108.34
-12.28%
Add 6.19%
1,847,365
107,690
EBAY 		eBay Inc2023-02-28Add
+0.22%
●
39.92 ($45.58) 51.66
$63.29
38.85%
Add 7.61%
2,993,967
211,647
CVX 		Chevron Corp2023-02-28Add
+0.20%
●
160.35 ($173.46) 187.79
$161.93
-6.65%
Add 8.04%
744,401
55,410
LEN 		Lennar Corp2024-08-31Add
+0.19%
●
142.5 ($163.83) 185.02
$174.39
6.45%
Add 2.87%
2,306,948
64,408
DHI 		D.R. Horton Inc2024-08-31Add
+0.19%
●
135.21 ($161.2) 191.79
$168.78
4.70%
Add 2.87%
2,177,083
60,782
HD 		The Home Depot Inc2023-02-28Add
+0.19%
●
295.5 ($319.08) 339.79
$429.13
34.49%
Add 7.28%
415,454
28,207
NVR 		NVR Inc2023-11-30Reduce
-0.18%
●
5377.29 ($5986.85) 6509.35
$9,235.58
54.26%
Reduce -3.53%
34,971
-1,281
UHAL.B 		U-Haul Holding Co2023-02-28Add
+0.18%
●
52.6 ($58.78) 66.74
$62.44
6.23%
Add 8.54%
1,809,594
142,393
SPG 		Simon Property Group Inc2024-08-31Add
+0.18%
●
146.09 ($153.57) 168.05
$183.60
19.55%
Add 2.87%
2,267,452
63,305
MAC 		Macerich Co2023-11-30Reduce
-0.17%
●
9.71 ($11) 12.23
$21.21
92.82%
Reduce -3.53%
18,161,584
-665,245
EBAY 		eBay Inc2024-05-31Add
+0.17%
●
48.91 ($51.48) 54.41
$63.29
22.94%
Add 6.19%
3,134,515
182,723
AMGN 		Amgen Inc2024-08-31Add
+0.16%
●
298.5 ($320.7) 335.97
$282.87
-11.80%
Add 2.87%
1,014,929
28,336
TGT 		Target Corp2024-05-31Add
+0.16%
●
143.27 ($164.04) 177.82
$132.31
-19.34%
Add 6.19%
1,039,881
60,619
QCOM 		Qualcomm Inc2024-05-31Add
+0.15%
●
157.63 ($176.62) 213.08
$158.53
-10.24%
Add 6.19%
716,561
41,771
HD 		The Home Depot Inc2024-05-31Add
+0.15%
●
325.1 ($352.75) 395.2
$429.13
21.65%
Add 6.19%
434,280
25,316
UHAL.B 		U-Haul Holding Co2024-05-31Add
+0.15%
●
59.57 ($64.13) 66.97
$62.44
-2.64%
Add 7.64%
2,018,007
143,180
JPM 		JPMorgan Chase & Co2023-11-30Reduce
-0.14%
●
135.69 ($146.15) 156.08
$249.72
70.87%
Reduce -3.53%
1,232,267
-45,110
LEN 		Lennar Corp2024-02-29Add
+0.14%
●
127.92 ($148.53) 158.51
$174.39
17.41%
Add 1.86%
2,447,164
44,794
MAC 		Macerich Co2024-08-31Add
+0.13%
●
14.34 ($15.23) 16.73
$21.21
39.26%
Add 2.87%
17,675,396
493,483
BAC 		Bank of America Corp2024-08-31Add
+0.13%
●
36.65 ($40.08) 44.13
$47.51
18.54%
Add 2.87%
6,866,841
191,717
NVR 		NVR Inc2024-08-31Add
+0.13%
●
7421.51 ($8181.78) 9321.27
$9,235.58
12.88%
Add 2.87%
31,327
875
DHI 		D.R. Horton Inc2024-02-29Add
+0.13%
●
127.67 ($145.76) 157.7
$168.78
15.79%
Add 1.9%
2,349,365
43,786
QCOM 		Qualcomm Inc2023-02-28Add
+0.13%
●
106.97 ($122.69) 138.46
$158.53
29.21%
Add 7.11%
685,067
45,456
MRK 		Merck & Co Inc2024-02-29Add
+0.12%
●
102.48 ($117.05) 129.45
$101.64
-13.17%
Add 1.87%
2,635,931
48,288
AXP 		American Express Co2024-02-29Add
+0.12%
●
167.51 ($192.35) 219.42
$304.68
58.40%
Add 1.88%
1,523,432
28,125
SPG 		Simon Property Group Inc2024-02-29Add
+0.11%
●
124.89 ($142.07) 151.51
$183.60
29.23%
Add 1.87%
2,075,659
38,007
OXY 		Occidental Petroleum Corp2024-02-29Add
+0.11%
●
55.55 ($58.46) 61.44
$50.58
-13.48%
Add 1.88%
5,307,698
98,061
CACC 		Credit Acceptance Corp2023-02-28Add
+0.11%
●
378.22 ($454.07) 548.99
$497.70
9.61%
Add 7.21%
167,416
11,261
DVN 		Devon Energy Corp2024-08-31Add
+0.11%
●
41.48 ($45.94) 48.65
$37.95
-17.39%
Add 2.87%
5,086,006
141,997
OVV 		Ovintiv Inc2024-08-31Add
+0.11%
●
39.92 ($45.54) 48.89
$45.42
-0.26%
Add 2.87%
5,453,428
152,255
APA 		APA Corp2024-08-31Add
+0.11%
●
27.02 ($29.34) 32.22
$22.65
-22.80%
Add 2.87%
8,364,862
233,540
EBAY 		eBay Inc2023-11-30Reduce
-0.10%
●
37.99 ($41.87) 45.1
$63.29
51.16%
Reduce -3.53%
2,896,462
-106,057
COP 		ConocoPhillips2024-08-31Add
+0.10%
●
104.57 ($111.67) 116.61
$108.34
-2.98%
Add 2.87%
1,900,423
53,058
NVR 		NVR Inc2024-02-29Add
+0.10%
●
6155.39 ($7071.44) 7625.57
$9,235.58
30.60%
Add 1.86%
35,623
652
HD 		The Home Depot Inc2023-11-30Reduce
-0.10%
●
276.46 ($302.93) 333.08
$429.13
41.66%
Reduce -3.53%
401,446
-14,704
CACC 		Credit Acceptance Corp2024-05-31Add
+0.09%
●
476.01 ($529.68) 572.49
$497.70
-6.04%
Add 6.19%
174,842
10,192
AMGN 		Amgen Inc2024-02-29Add
+0.09%
●
269.12 ($292.48) 324.56
$282.87
-3.29%
Add 1.87%
929,081
17,040
OVV 		Ovintiv Inc2024-02-29Add
+0.09%
●
40.27 ($43.11) 49.41
$45.42
5.36%
Add 1.87%
4,992,148
91,412
100/Page
Total 185
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