Smead Capital Management, Inc. Long-Term Concentrated

Location: Phoenix, AZ

CIK: 0001427008 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 10, 2025

Total Value: $5.176B (100.0% shares, 0.0% debt)

Holdings (34)

SPG SIMON PPTY GROUP INC NEW 6.9%

Value $359M Shares 1,915,505 Share Price $187.67 Est. Cost/Share $96.85 Unrealized @ Report Date +91.4%

DHI D R HORTON INC 6.0%

Value $312M Shares 1,839,163 Share Price $169.47 Est. Cost/Share $81.22 Unrealized @ Report Date +108.0%

CVE CENOVUS ENERGY INC 5.4%

Value $278M Shares 16,389,740 Share Price $16.98 Est. Cost/Share $17.35 Unrealized @ Report Date -2.1%

AXP AMERICAN EXPRESS CO 5.3%

Value $273M Shares 821,852 Share Price $332.16 Est. Cost/Share $118.42 Unrealized @ Report Date +179.2%

MAC MACERICH CO 5.2%

Value $272M Shares 14,931,924 Share Price $18.20 Est. Cost/Share $13.76 Unrealized @ Report Date —

MRK MERCK & CO INC 4.9%

Value $255M Shares 3,034,674 Share Price $83.93 Est. Cost/Share $71.96 Unrealized @ Report Date +15.6%

APA APA CORPORATION 4.8%

Value $247M Shares 10,161,573 Share Price $24.28 Est. Cost/Share $29.84 Unrealized @ Report Date -19.5%

LEN LENNAR CORP 4.7%

Value $246M Shares 1,948,849 Share Price $126.04 Est. Cost/Share $73.49 Unrealized @ Report Date +70.8%

AMGN AMGEN INC 4.7%

Value $242M Shares 857,384 Share Price $282.20 Est. Cost/Share $193.08 Unrealized @ Report Date +45.1%

NVR NVR INC 4.1%

Value $213M Shares 26,462 Share Price $8034.69 Est. Cost/Share $3700.55 Unrealized @ Report Date +117.1%

EBAY EBAY INC. 3.8%

Value $198M Shares 2,173,735 Share Price $90.95 Est. Cost/Share $41.70 Unrealized @ Report Date +117.4%

JPM JPMORGAN CHASE & CO. 3.7%

Value $190M Shares 601,947 Share Price $315.43 Est. Cost/Share $100.23 Unrealized @ Report Date +213.2%

FANG DIAMONDBACK ENERGY INC 3.6%

Value $188M Shares 1,312,413 Share Price $143.10 Est. Cost/Share $137.08 Unrealized @ Report Date +3.7%

OXY OCCIDENTAL PETE CORP 3.5%

Value $179M Shares 3,787,043 Share Price $47.25 Est. Cost/Share $38.61 Unrealized @ Report Date +21.7%

BAC BANK AMERICA CORP 3.4%

Value $175M Shares 3,389,427 Share Price $51.59 Est. Cost/Share $27.95 Unrealized @ Report Date +83.6%

COP CONOCOPHILLIPS 3.2%

Value $166M Shares 1,753,485 Share Price $94.59 Est. Cost/Share $66.16 Unrealized @ Report Date +41.7%

TGT TARGET CORP 3.2%

Value $164M Shares 1,830,431 Share Price $89.70 Est. Cost/Share $115.72 Unrealized @ Report Date -23.4%

HD HOME DEPOT INC 3.0%

Value $153M Shares 377,406 Share Price $405.19 Est. Cost/Share $213.76 Unrealized @ Report Date +88.3%

OVV OVINTIV INC 2.7%

Value $140M Shares 3,459,320 Share Price $40.38 Est. Cost/Share $48.34 Unrealized @ Report Date -16.5%

UHAL/B U HAUL HOLDING COMPANY 2.6%

Value $134M Shares 2,636,827 Share Price $50.90 Est. Cost/Share $58.34 Unrealized @ Report Date -12.7%

WAL WESTERN ALLIANCE BANCORP 2.2%

Value $116M Shares 1,333,236 Share Price $86.72 Est. Cost/Share $53.26 Unrealized @ Report Date +61.2%

UNH UNITEDHEALTH GROUP INC 2.2%

Value $114M Shares 330,118 Share Price $345.30 Est. Cost/Share $357.06 Unrealized @ Report Date -3.9%

QCOM QUALCOMM INC 2.2%

Value $112M Shares 670,386 Share Price $166.36 Est. Cost/Share $104.95 Unrealized @ Report Date +57.7%

CACC CREDIT ACCEP CORP MICH 1.8%

Value $94.04M Shares 201,402 Share Price $466.93 Est. Cost/Share $472.70 Unrealized @ Report Date -1.2%

ULTA ULTA BEAUTY INC 1.6%

Value $83.88M Shares 153,423 Share Price $546.75 Est. Cost/Share $387.42 Unrealized @ Report Date +41.1%

FITB FIFTH THIRD BANCORP 1.4%

Value $72.44M Shares 1,626,001 Share Price $44.55 Est. Cost/Share $26.68 Unrealized @ Report Date +65.5%

MTB M & T BK CORP 1.4%

Value $71.34M Shares 361,011 Share Price $197.62 Est. Cost/Share $120.31 Unrealized @ Report Date +63.0%

CROX CROCS INC 1.0%

Value $52.98M Shares 634,082 Share Price $83.55 Est. Cost/Share $91.29 Unrealized @ Report Date -8.5%

DVN DEVON ENERGY CORP NEW 1.0%

Value $51.85M Shares 1,478,887 Share Price $35.06 Est. Cost/Share $45.17 Unrealized @ Report Date -22.9%

FRO FRONTLINE PLC 0.3%

Value $13.46M Shares 590,266 Share Price $22.81 Est. Cost/Share $14.56 Unrealized @ Report Date +56.5%

WFG WEST FRASER TIMBER CO LTD 0.2%

Value $8.182M Shares 120,378 Share Price $67.97 Est. Cost/Share $79.92 Unrealized @ Report Date -14.9%

OXY/WS OCCIDENTAL PETE CORP 0.1%

Value $3.926M Shares 153,969 Share Price $25.50 Est. Cost/Share $33.25 Unrealized @ Report Date —

IWD ISHARES TR 0.0%

Value $1.121M Shares 5,506 Share Price $203.57 Est. Cost/Share $194.41 Unrealized @ Report Date +4.7%

VTV VANGUARD INDEX FDS 0.0%

Value $246K Shares 1,317 Share Price $186.46 Est. Cost/Share $168.91 Unrealized @ Report Date +10.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPG	SIMON PPTY GROUP INC NEW	1,915,505	$359M	6.9%	$187.67	$96.85	+91.4%	COM	828806109
DHI	D R HORTON INC	1,839,163	$312M	6.0%	$169.47	$81.22	+108.0%	COM	23331A109
CVE	CENOVUS ENERGY INC	16,389,740	$278M	5.4%	$16.98	$17.35	-2.1%	COM	15135U109
AXP	AMERICAN EXPRESS CO	821,852	$273M	5.3%	$332.16	$118.42	+179.2%	COM	025816109
MAC	MACERICH CO	14,931,924	$272M	5.2%	$18.20	$13.76	—	COM	554382101
MRK	MERCK & CO INC	3,034,674	$255M	4.9%	$83.93	$71.96	+15.6%	COM	58933Y105
APA	APA CORPORATION	10,161,573	$247M	4.8%	$24.28	$29.84	-19.5%	COM	03743Q108
LEN	LENNAR CORP	1,948,849	$246M	4.7%	$126.04	$73.49	+70.8%	CL A	526057104
AMGN	AMGEN INC	857,384	$242M	4.7%	$282.20	$193.08	+45.1%	COM	031162100
NVR	NVR INC	26,462	$213M	4.1%	$8034.69	$3700.55	+117.1%	COM	62944T105
EBAY	EBAY INC.	2,173,735	$198M	3.8%	$90.95	$41.70	+117.4%	COM	278642103
JPM	JPMORGAN CHASE & CO.	601,947	$190M	3.7%	$315.43	$100.23	+213.2%	COM	46625H100
FANG	DIAMONDBACK ENERGY INC	1,312,413	$188M	3.6%	$143.10	$137.08	+3.7%	COM	25278X109
OXY	OCCIDENTAL PETE CORP	3,787,043	$179M	3.5%	$47.25	$38.61	+21.7%	COM	674599105
BAC	BANK AMERICA CORP	3,389,427	$175M	3.4%	$51.59	$27.95	+83.6%	COM	060505104
COP	CONOCOPHILLIPS	1,753,485	$166M	3.2%	$94.59	$66.16	+41.7%	COM	20825C104
TGT	TARGET CORP	1,830,431	$164M	3.2%	$89.70	$115.72	-23.4%	COM	87612E106
HD	HOME DEPOT INC	377,406	$153M	3.0%	$405.19	$213.76	+88.3%	COM	437076102
OVV	OVINTIV INC	3,459,320	$140M	2.7%	$40.38	$48.34	-16.5%	COM	69047Q102
UHAL/B	U HAUL HOLDING COMPANY	2,636,827	$134M	2.6%	$50.90	$58.34	-12.7%	COM SER N	023586506
WAL	WESTERN ALLIANCE BANCORP	1,333,236	$116M	2.2%	$86.72	$53.26	+61.2%	COM	957638109
UNH	UNITEDHEALTH GROUP INC	330,118	$114M	2.2%	$345.30	$357.06	-3.9%	COM	91324P102
QCOM	QUALCOMM INC	670,386	$112M	2.2%	$166.36	$104.95	+57.7%	COM	747525103
CACC	CREDIT ACCEP CORP MICH	201,402	$94.04M	1.8%	$466.93	$472.70	-1.2%	COM	225310101
ULTA	ULTA BEAUTY INC	153,423	$83.88M	1.6%	$546.75	$387.42	+41.1%	COM	90384S303
FITB	FIFTH THIRD BANCORP	1,626,001	$72.44M	1.4%	$44.55	$26.68	+65.5%	COM	316773100
MTB	M & T BK CORP	361,011	$71.34M	1.4%	$197.62	$120.31	+63.0%	COM	55261F104
CROX	CROCS INC	634,082	$52.98M	1.0%	$83.55	$91.29	-8.5%	COM	227046109
DVN	DEVON ENERGY CORP NEW	1,478,887	$51.85M	1.0%	$35.06	$45.17	-22.9%	COM	25179M103
FRO	FRONTLINE PLC	590,266	$13.46M	0.3%	$22.81	$14.56	+56.5%	COM	M46528101
WFG	WEST FRASER TIMBER CO LTD	120,378	$8.182M	0.2%	$67.97	$79.92	-14.9%	COM	952845105
OXY/WS	OCCIDENTAL PETE CORP	153,969	$3.926M	0.1%	$25.50	$33.25	—	*W EXP 08/03/202	674599162
IWD	ISHARES TR	5,506	$1.121M	0.0%	$203.57	$194.41	+4.7%	RUS 1000 VAL ETF	464287598
VTV	VANGUARD INDEX FDS	1,317	$246K	0.0%	$186.46	$168.91	+10.4%	VALUE ETF	922908744