Smead Capital Management, Inc. Long-Term Concentrated

Location: Phoenix, AZ

CIK: 0001427008 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value: $4.995B (100.0% shares, 0.0% debt)

Holdings (33)

SPG SIMON PPTY GROUP INC NEW 6.6%

Value $331M Shares 2,062,019 Share Price $160.76 * Est. Cost/Share $96.85 Unrealized @ Report Date +62.0%

AXP AMERICAN EXPRESS CO 5.7%

Value $282M Shares 884,732 Share Price $318.98 Est. Cost/Share $118.42 Unrealized @ Report Date +167.4%

MAC MACERICH CO 5.2%

Value $260M Shares 16,074,002 Share Price $16.18 Est. Cost/Share $13.76 Unrealized @ Report Date —

MRK MERCK & CO INC 5.2%

Value $259M Shares 3,267,318 Share Price $79.16 Est. Cost/Share $71.96 Unrealized @ Report Date +8.0%

AMGN AMGEN INC 5.2%

Value $258M Shares 922,968 Share Price $279.21 Est. Cost/Share $193.08 Unrealized @ Report Date +42.4%

DHI D R HORTON INC 5.1%

Value $255M Shares 1,979,845 Share Price $128.92 Est. Cost/Share $81.22 Unrealized @ Report Date +57.8%

CVE CENOVUS ENERGY INC 4.8%

Value $239M Shares 17,552,075 Share Price $13.62 Est. Cost/Share $17.35 Unrealized @ Report Date -21.6%

LEN LENNAR CORP 4.6%

Value $232M Shares 2,097,906 Share Price $110.61 Est. Cost/Share $73.49 Unrealized @ Report Date +49.2%

EBAY EBAY INC. 4.4%

Value $218M Shares 2,932,396 Share Price $74.46 Est. Cost/Share $41.70 Unrealized @ Report Date +77.4%

NVR NVR INC 4.2%

Value $210M Shares 28,486 Share Price $7385.69 Est. Cost/Share $3700.55 Unrealized @ Report Date +99.6%

APA APA CORPORATION 4.0%

Value $200M Shares 10,941,229 Share Price $18.29 * Est. Cost/Share $29.84 Unrealized @ Report Date -40.2%

TGT TARGET CORP 3.9%

Value $195M Shares 1,973,113 Share Price $98.65 * Est. Cost/Share $115.72 Unrealized @ Report Date -16.7%

JPM JPMORGAN CHASE & CO. 3.8%

Value $188M Shares 648,003 Share Price $289.91 Est. Cost/Share $100.23 Unrealized @ Report Date +186.5%

BAC BANK AMERICA CORP 3.5%

Value $173M Shares 3,648,771 Share Price $47.32 Est. Cost/Share $27.95 Unrealized @ Report Date +67.5%

OXY OCCIDENTAL PETE CORP 3.4%

Value $171M Shares 4,071,705 Share Price $42.01 Est. Cost/Share $38.61 Unrealized @ Report Date +7.6%

COP CONOCOPHILLIPS 3.4%

Value $169M Shares 1,887,445 Share Price $89.74 Est. Cost/Share $66.16 Unrealized @ Report Date +33.3%

OVV OVINTIV INC 3.3%

Value $166M Shares 4,355,580 Share Price $38.05 Est. Cost/Share $48.34 Unrealized @ Report Date -21.3%

UHAL/B U HAUL HOLDING COMPANY 3.1%

Value $155M Shares 2,842,383 Share Price $54.37 Est. Cost/Share $58.34 Unrealized @ Report Date -6.8%

HD HOME DEPOT INC 3.0%

Value $149M Shares 406,273 Share Price $366.64 Est. Cost/Share $213.76 Unrealized @ Report Date +69.5%

FANG DIAMONDBACK ENERGY INC 2.9%

Value $145M Shares 1,053,675 Share Price $137.40 Est. Cost/Share $136.16 Unrealized @ Report Date -0.5%

QCOM QUALCOMM INC 2.3%

Value $115M Shares 721,679 Share Price $159.26 Est. Cost/Share $104.95 Unrealized @ Report Date +50.1%

WAL WESTERN ALLIANCE BANCORP 2.2%

Value $112M Shares 1,435,247 Share Price $77.98 Est. Cost/Share $53.26 Unrealized @ Report Date +44.3%

CACC CREDIT ACCEP CORP MICH 2.2%

Value $110M Shares 216,811 Share Price $509.43 Est. Cost/Share $472.70 Unrealized @ Report Date +7.8%

UNH UNITEDHEALTH GROUP INC 1.6%

Value $78.75M Shares 252,438 Share Price $311.97 Est. Cost/Share $374.94 Unrealized @ Report Date -17.9%

ULTA ULTA BEAUTY INC 1.5%

Value $77.26M Shares 165,158 Share Price $467.82 Est. Cost/Share $387.42 Unrealized @ Report Date +20.8%

DVN DEVON ENERGY CORP NEW 1.5%

Value $76.37M Shares 2,400,686 Share Price $31.81 Est. Cost/Share $45.17 Unrealized @ Report Date -30.5%

MTB M & T BK CORP 1.5%

Value $75.39M Shares 388,621 Share Price $193.99 Est. Cost/Share $120.31 Unrealized @ Report Date +58.8%

FITB FIFTH THIRD BANCORP 1.4%

Value $71.99M Shares 1,750,355 Share Price $41.13 Est. Cost/Share $26.68 Unrealized @ Report Date +51.5%

FRO FRONTLINE PLC 0.2%

Value $9.754M Shares 590,266 Share Price $16.52 Est. Cost/Share $14.56 Unrealized @ Report Date +12.7%

WFG WEST FRASER TIMBER CO LTD 0.2%

Value $8.834M Shares 120,378 Share Price $73.38 Est. Cost/Share $79.92 Unrealized @ Report Date -8.3%

OXY/WS OCCIDENTAL PETE CORP 0.1%

Value $3.189M Shares 153,969 Share Price $20.71 Est. Cost/Share $33.25 Unrealized @ Report Date —

IWD ISHARES TR 0.0%

Value $679K Shares 3,496 Share Price $194.25 Est. Cost/Share $191.81 Unrealized @ Report Date +1.3%

VTV VANGUARD INDEX FDS 0.0%

Value $270K Shares 1,530 Share Price $176.76 Est. Cost/Share $168.91 Unrealized @ Report Date +4.6%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPG	SIMON PPTY GROUP INC NEW	2,062,019	$331M	6.6%	$160.76 *	$96.85	+62.0%	COM	828806109
AXP	AMERICAN EXPRESS CO	884,732	$282M	5.7%	$318.98	$118.42	+167.4%	COM	025816109
MAC	MACERICH CO	16,074,002	$260M	5.2%	$16.18	$13.76	—	COM	554382101
MRK	MERCK & CO INC	3,267,318	$259M	5.2%	$79.16	$71.96	+8.0%	COM	58933Y105
AMGN	AMGEN INC	922,968	$258M	5.2%	$279.21	$193.08	+42.4%	COM	031162100
DHI	D R HORTON INC	1,979,845	$255M	5.1%	$128.92	$81.22	+57.8%	COM	23331A109
CVE	CENOVUS ENERGY INC	17,552,075	$239M	4.8%	$13.62	$17.35	-21.6%	COM	15135U109
LEN	LENNAR CORP	2,097,906	$232M	4.6%	$110.61	$73.49	+49.2%	CL A	526057104
EBAY	EBAY INC.	2,932,396	$218M	4.4%	$74.46	$41.70	+77.4%	COM	278642103
NVR	NVR INC	28,486	$210M	4.2%	$7385.69	$3700.55	+99.6%	COM	62944T105
APA	APA CORPORATION	10,941,229	$200M	4.0%	$18.29 *	$29.84	-40.2%	COM	03743Q108
TGT	TARGET CORP	1,973,113	$195M	3.9%	$98.65 *	$115.72	-16.7%	COM	87612E106
JPM	JPMORGAN CHASE & CO.	648,003	$188M	3.8%	$289.91	$100.23	+186.5%	COM	46625H100
BAC	BANK AMERICA CORP	3,648,771	$173M	3.5%	$47.32	$27.95	+67.5%	COM	060505104
OXY	OCCIDENTAL PETE CORP	4,071,705	$171M	3.4%	$42.01	$38.61	+7.6%	COM	674599105
COP	CONOCOPHILLIPS	1,887,445	$169M	3.4%	$89.74	$66.16	+33.3%	COM	20825C104
OVV	OVINTIV INC	4,355,580	$166M	3.3%	$38.05	$48.34	-21.3%	COM	69047Q102
UHAL/B	U HAUL HOLDING COMPANY	2,842,383	$155M	3.1%	$54.37	$58.34	-6.8%	COM SER N	023586506
HD	HOME DEPOT INC	406,273	$149M	3.0%	$366.64	$213.76	+69.5%	COM	437076102
FANG	DIAMONDBACK ENERGY INC	1,053,675	$145M	2.9%	$137.40	$136.16	-0.5%	COM	25278X109
QCOM	QUALCOMM INC	721,679	$115M	2.3%	$159.26	$104.95	+50.1%	COM	747525103
WAL	WESTERN ALLIANCE BANCORP	1,435,247	$112M	2.2%	$77.98	$53.26	+44.3%	COM	957638109
CACC	CREDIT ACCEP CORP MICH	216,811	$110M	2.2%	$509.43	$472.70	+7.8%	COM	225310101
UNH	UNITEDHEALTH GROUP INC	252,438	$78.75M	1.6%	$311.97	$374.94	-17.9%	COM	91324P102
ULTA	ULTA BEAUTY INC	165,158	$77.26M	1.5%	$467.82	$387.42	+20.8%	COM	90384S303
DVN	DEVON ENERGY CORP NEW	2,400,686	$76.37M	1.5%	$31.81	$45.17	-30.5%	COM	25179M103
MTB	M & T BK CORP	388,621	$75.39M	1.5%	$193.99	$120.31	+58.8%	COM	55261F104
FITB	FIFTH THIRD BANCORP	1,750,355	$71.99M	1.4%	$41.13	$26.68	+51.5%	COM	316773100
FRO	FRONTLINE PLC	590,266	$9.754M	0.2%	$16.52	$14.56	+12.7%	COM	M46528101
WFG	WEST FRASER TIMBER CO LTD	120,378	$8.834M	0.2%	$73.38	$79.92	-8.3%	COM	952845105
OXY/WS	OCCIDENTAL PETE CORP	153,969	$3.189M	0.1%	$20.71	$33.25	—	*W EXP 08/03/202	674599162
IWD	ISHARES TR	3,496	$679K	0.0%	$194.25	$191.81	+1.3%	RUS 1000 VAL ETF	464287598
VTV	VANGUARD INDEX FDS	1,530	$270K	0.0%	$176.76	$168.91	+4.6%	VALUE ETF	922908744