Smead Capital
Tier 3 · less-proven / weaker recordConcentrated
Breadth-test add 2026-06-08 (survivorship-flagged).
Positions
32
as of Q2 2026
Top-5 concentration
32%
of equity portfolio
Latest filing
Q2 2026
13F report date
Reported holdings long US equity, by weight
| Ticker | Sector | Weight | Value | Change |
|---|---|---|---|---|
| CVE CENOVUS ENERGY INC | Energy | 7.1% | $331M | TRIM |
| SPG SIMON PPTY GROUP INC NEW | Real Estate | 6.7% | $313M | TRIM |
| MRK MERCK & CO INC | Health Care | 6.4% | $300M | TRIM |
| MAC MACERICH CO | Real Estate | 6.2% | $289M | TRIM |
| APA APA CORPORATION | Energy | 5.5% | $254M | TRIM |
| AMGN AMGEN INC | Health Care | 5.1% | $239M | TRIM |
| DHI D R HORTON INC | Industrials | 4.9% | $230M | TRIM |
| AXP AMERICAN EXPRESS CO | Financials | 4.1% | $192M | TRIM |
| NVR NVR INC | Industrials | 4.1% | $192M | ADD |
| TGT TARGET CORP | Consumer Discretionary | 4.0% | $184M | TRIM |
| LEN LENNAR CORP | Industrials | 3.9% | $183M | ADD |
| FITB FIFTH THIRD BANCORP | Financials | 3.8% | $179M | ADD |
| FANG DIAMONDBACK ENERGY INC | Energy | 3.8% | $178M | TRIM |
| COP CONOCOPHILLIPS | Energy | 3.5% | $164M | TRIM |
| BAC BANK OF AMER CORP | Financials | 3.2% | $149M | TRIM |
| OXY OCCIDENTAL PETE CORP | Energy | 3.0% | $140M | TRIM |
| UNH UNITEDHEALTH GROUP INC | Financials | 2.9% | $136M | TRIM |
| WAL WESTERN ALLIANCE BANCORP | Financials | 2.8% | $131M | ADD |
| JPM JPMORGAN CHASE & CO | Financials | 2.8% | $129M | TRIM |
| CACC CREDIT ACCEP CORP MICH | Financials | 2.7% | $127M | TRIM |
| UHAL/B U HAUL HOLDING COMPANY | — | 2.5% | $117M | TRIM |
| HD HOME DEPOT INC | Consumer Discretionary | 2.2% | $102M | TRIM |
| EBAY EBAY INC. | Industrials | 2.0% | $91M | TRIM |
| ZTS ZOETIS INC | Health Care | 1.9% | $89M | NEW |
| MTB M & T BK CORP | Financials | 1.4% | $66M | TRIM |
| CROX CROCS INC | Industrials | 1.3% | $59M | TRIM |
| ULTA ULTA BEAUTY INC | Consumer Discretionary | 1.1% | $53M | TRIM |
| — FRONTLINE PLC | — | 0.5% | $22M | ADD |
| GTX GARRETT MOTION INC | Consumer Discretionary | 0.2% | $10M | ADD |
| WFG WEST FRASER TIMBER CO LTD | Industrials | 0.2% | $8M | ADD |
| OXY/WS OCCIDENTAL PETE CORP | — | 0.0% | $2M | TRIM |
| IWD ISHARES TR | — | 0.0% | $1M | TRIM |
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.