Smead Capital Management, Inc. Long-Term Concentrated

Location: Phoenix, AZ

CIK: 0001427008 · Show all filings

Period: Q1 2026 (← Previous) (Next →)

Filing Date: May 14, 2026

Total Value: $4.597B (100.0% shares, 0.0% debt)

Holdings (32)

CVE CENOVUS ENERGY INC 8.6%

Value $394M Shares 14,868,003 Est. Cost $17.35 Unrealized +13.0%

APA APA CORPORATION 7.6%

Value $351M Shares 8,269,815 Est. Cost $29.84 Unrealized -11.4%

MRK MERCK & CO INC 6.5%

Value $297M Shares 2,471,398 Est. Cost $71.96 Unrealized +58.8%

SPG SIMON PPTY GROUP INC NEW 6.3%

Value $291M Shares 1,559,860 Est. Cost $96.85 Unrealized +90.0%

AMGN AMGEN INC 5.3%

Value $246M Shares 697,919 Est. Cost $193.08 Unrealized +81.1%

MAC MACERICH CO 5.0%

Value $230M Shares 12,155,332 Est. Cost $13.76 Unrealized —

COP CONOCOPHILLIPS 4.8%

Value $221M Shares 1,671,303 Est. Cost $68.20 Unrealized +50.5%

FANG DIAMONDBACK ENERGY INC 4.6%

Value $212M Shares 1,069,328 Est. Cost $137.08 Unrealized +16.6%

DHI D R HORTON INC 4.5%

Value $206M Shares 1,497,723 Est. Cost $81.22 Unrealized +92.0%

OXY OCCIDENTAL PETE CORP 4.4%

Value $201M Shares 3,095,535 Est. Cost $38.61 Unrealized +17.7%

AXP AMERICAN EXPRESS CO 4.0%

Value $182M Shares 602,643 Est. Cost $118.42 Unrealized +200.8%

TGT TARGET CORP 3.9%

Value $181M Shares 1,492,670 Est. Cost $115.72 Unrealized -5.6%

EBAY EBAY INC. 3.5%

Value $161M Shares 1,771,494 Est. Cost $41.70 Unrealized +114.2%

NVR NVR INC 3.1%

Value $142M Shares 21,538 Est. Cost $3700.55 Unrealized +106.0%

LEN LENNAR CORP 3.0%

Value $138M Shares 1,586,225 Est. Cost $73.49 Unrealized +55.7%

BAC BANK AMERICA CORP 2.9%

Value $135M Shares 2,759,684 Est. Cost $27.95 Unrealized +92.0%

FITB FIFTH THIRD BANCORP 2.9%

Value $132M Shares 2,831,423 Est. Cost $35.16 Unrealized +45.8%

JPM JPMORGAN CHASE & CO 2.7%

Value $122M Shares 416,094 Est. Cost $100.23 Unrealized +210.7%

HD HOME DEPOT INC 2.2%

Value $101M Shares 307,339 Est. Cost $213.76 Unrealized +76.4%

WAL WESTERN ALLIANCE BANCORP 2.1%

Value $96.04M Shares 1,355,591 Est. Cost $57.19 Unrealized +57.3%

UHAL/B U HAUL HOLDING COMPANY 2.1%

Value $95.88M Shares 2,146,425 Est. Cost $58.34 Unrealized -15.2%

UNH UNITEDHEALTH GROUP INC 2.0%

Value $93.92M Shares 347,102 Est. Cost $351.71 Unrealized -12.2%

CACC CREDIT ACCEP CORP MICH 1.9%

Value $89.13M Shares 210,470 Est. Cost $473.19 Unrealized +0.9%

QCOM QUALCOMM INC 1.5%

Value $70.29M Shares 545,810 Est. Cost $104.95 Unrealized +46.6%

ULTA ULTA BEAUTY INC 1.4%

Value $65.28M Shares 124,895 Est. Cost $387.42 Unrealized +72.9%

MTB M & T BK CORP 1.3%

Value $60.75M Shares 293,869 Est. Cost $120.31 Unrealized +83.8%

CROX CROCS INC 0.9%

Value $42.94M Shares 517,170 Est. Cost $91.29 Unrealized -3.4%

FRO FRONTLINE PLC 0.5%

Value $21.42M Shares 610,694 Est. Cost $15.10 Unrealized +87.8%

WFG WEST FRASER TIMBER LTD 0.2%

Value $7.494M Shares 114,778 Est. Cost $74.38 Unrealized -6.8%

OXY/WS OCCIDENTAL PETE CORP 0.1%

Value $6.487M Shares 151,211 Est. Cost $33.25 Unrealized —

GTX GARRETT MOTION INC 0.1%

Value $4.632M Shares 254,910 Est. Cost $16.05 Unrealized +17.9%

IWD ISHARES TR 0.0%

Value $1.339M Shares 6,264 Est. Cost $198.39 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CVE	CENOVUS ENERGY INC	14,868,003	$394M	8.6%	$17.35	+13.0%	COM	15135U109
APA	APA CORPORATION	8,269,815	$351M	7.6%	$29.84	-11.4%	COM	03743Q108
MRK	MERCK & CO INC	2,471,398	$297M	6.5%	$71.96	+58.8%	COM	58933Y105
SPG	SIMON PPTY GROUP INC NEW	1,559,860	$291M	6.3%	$96.85	+90.0%	COM	828806109
AMGN	AMGEN INC	697,919	$246M	5.3%	$193.08	+81.1%	COM	031162100
MAC	MACERICH CO	12,155,332	$230M	5.0%	$13.76	—	COM	554382101
COP	CONOCOPHILLIPS	1,671,303	$221M	4.8%	$68.20	+50.5%	COM	20825C104
FANG	DIAMONDBACK ENERGY INC	1,069,328	$212M	4.6%	$137.08	+16.6%	COM	25278X109
DHI	D R HORTON INC	1,497,723	$206M	4.5%	$81.22	+92.0%	COM	23331A109
OXY	OCCIDENTAL PETE CORP	3,095,535	$201M	4.4%	$38.61	+17.7%	COM	674599105
AXP	AMERICAN EXPRESS CO	602,643	$182M	4.0%	$118.42	+200.8%	COM	025816109
TGT	TARGET CORP	1,492,670	$181M	3.9%	$115.72	-5.6%	COM	87612E106
EBAY	EBAY INC.	1,771,494	$161M	3.5%	$41.70	+114.2%	COM	278642103
NVR	NVR INC	21,538	$142M	3.1%	$3700.55	+106.0%	COM	62944T105
LEN	LENNAR CORP	1,586,225	$138M	3.0%	$73.49	+55.7%	CL A	526057104
BAC	BANK AMERICA CORP	2,759,684	$135M	2.9%	$27.95	+92.0%	COM	060505104
FITB	FIFTH THIRD BANCORP	2,831,423	$132M	2.9%	$35.16	+45.8%	COM	316773100
JPM	JPMORGAN CHASE & CO	416,094	$122M	2.7%	$100.23	+210.7%	COM	46625H100
HD	HOME DEPOT INC	307,339	$101M	2.2%	$213.76	+76.4%	COM	437076102
WAL	WESTERN ALLIANCE BANCORP	1,355,591	$96.04M	2.1%	$57.19	+57.3%	COM	957638109
UHAL/B	U HAUL HOLDING COMPANY	2,146,425	$95.88M	2.1%	$58.34	-15.2%	COM SER N	023586506
UNH	UNITEDHEALTH GROUP INC	347,102	$93.92M	2.0%	$351.71	-12.2%	COM	91324P102
CACC	CREDIT ACCEP CORP MICH	210,470	$89.13M	1.9%	$473.19	+0.9%	COM	225310101
QCOM	QUALCOMM INC	545,810	$70.29M	1.5%	$104.95	+46.6%	COM	747525103
ULTA	ULTA BEAUTY INC	124,895	$65.28M	1.4%	$387.42	+72.9%	COM	90384S303
MTB	M & T BK CORP	293,869	$60.75M	1.3%	$120.31	+83.8%	COM	55261F104
CROX	CROCS INC	517,170	$42.94M	0.9%	$91.29	-3.4%	COM	227046109
FRO	FRONTLINE PLC	610,694	$21.42M	0.5%	$15.10	+87.8%	COM	M46528101
WFG	WEST FRASER TIMBER LTD	114,778	$7.494M	0.2%	$74.38	-6.8%	COM	952845105
OXY/WS	OCCIDENTAL PETE CORP	151,211	$6.487M	0.1%	$33.25	—	*W EXP 08/03/202	674599162
GTX	GARRETT MOTION INC	254,910	$4.632M	0.1%	$16.05	+17.9%	COM	366505105
IWD	ISHARES TR	6,264	$1.339M	0.0%	$198.39	—	RUS 1000 VAL ETF	464287598