Smead Capital
Tier 3 · less-proven / weaker recordConcentrated
Breadth-test add 2026-06-08 (survivorship-flagged).
Positions
32
as of Q1 2026
Top-5 concentration
34%
of equity portfolio
Latest filing
Q1 2026
13F report date
Reported holdings long US equity, by weight
| Ticker | Sector | Weight | Value | Change |
|---|---|---|---|---|
| CVE CENOVUS ENERGY INC | Energy | 8.6% | $394M | TRIM |
| APA APA CORPORATION | Energy | 7.6% | $351M | TRIM |
| MRK MERCK & CO INC | Health Care | 6.5% | $297M | TRIM |
| SPG SIMON PPTY GROUP INC NEW | Real Estate | 6.3% | $291M | TRIM |
| AMGN AMGEN INC | Health Care | 5.3% | $246M | TRIM |
| MAC MACERICH CO | Real Estate | 5.0% | $230M | TRIM |
| COP CONOCOPHILLIPS | Energy | 4.8% | $221M | TRIM |
| FANG DIAMONDBACK ENERGY INC | Energy | 4.6% | $212M | TRIM |
| DHI D R HORTON INC | Industrials | 4.5% | $206M | TRIM |
| OXY OCCIDENTAL PETE CORP | Energy | 4.4% | $201M | TRIM |
| AXP AMERICAN EXPRESS CO | Financials | 4.0% | $182M | TRIM |
| TGT TARGET CORP | Consumer Discretionary | 3.9% | $181M | TRIM |
| EBAY EBAY INC. | Industrials | 3.5% | $161M | TRIM |
| NVR NVR INC | Industrials | 3.1% | $142M | TRIM |
| LEN LENNAR CORP | Industrials | 3.0% | $138M | TRIM |
| BAC BANK AMERICA CORP | Financials | 2.9% | $135M | TRIM |
| FITB FIFTH THIRD BANCORP | Financials | 2.9% | $132M | TRIM |
| JPM JPMORGAN CHASE & CO | Financials | 2.7% | $122M | TRIM |
| HD HOME DEPOT INC | Consumer Discretionary | 2.2% | $101M | TRIM |
| WAL WESTERN ALLIANCE BANCORP | Financials | 2.1% | $96M | TRIM |
| UHAL/B U HAUL HOLDING COMPANY | — | 2.1% | $96M | TRIM |
| UNH UNITEDHEALTH GROUP INC | Financials | 2.0% | $94M | ADD |
| CACC CREDIT ACCEP CORP MICH | Financials | 1.9% | $89M | ADD |
| QCOM QUALCOMM INC | Information Technology | 1.5% | $70M | TRIM |
| ULTA ULTA BEAUTY INC | Consumer Discretionary | 1.4% | $65M | TRIM |
| MTB M & T BK CORP | Financials | 1.3% | $61M | TRIM |
| CROX CROCS INC | Industrials | 0.9% | $43M | TRIM |
| — FRONTLINE PLC | — | 0.5% | $21M | ADD |
| WFG WEST FRASER TIMBER LTD | Industrials | 0.2% | $7M | ADD |
| OXY/WS OCCIDENTAL PETE CORP | — | 0.1% | $6M | TRIM |
| GTX GARRETT MOTION INC | Consumer Discretionary | 0.1% | $5M | ADD |
| IWD ISHARES TR | — | 0.0% | $1M | ADD |
Weights are share of the manager’s reported long US-equity portfolio (13F). Options, bonds, and non-US/private holdings aren’t reported here. “Change” vs the prior reported quarter.