Smead Capital Management, Inc.
Filing Date
Global Rank
#726
/ 8,622
▼ 1
· as of Mar 2026
Top Industry
Oil & Gas E&P
21.9%
3Y Alpha vs SPY
-4.0%
Period ended 4 months ago
Filed May 14, 2026 · 3mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+51.4%
SPY
+67.9%
Annualised alpha
-4.0%
Max drawdown
−25.3%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
29 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
8.8%
+1.7 pts
Top 5
35.1%
+4.1 pts
Top 10
58.9%
+4.2 pts
HHI
482
Diversified+35
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Energy | 31.2% | $1,400,032,015 |
| Consumer Cyclical | 19.1% | $860,370,227 |
| Financial Services | 18.2% | $816,686,019 |
| Healthcare | 14.2% | $636,769,595 |
| Real Estate | 11.6% | $520,696,459 |
| Consumer Defensive | 4.0% | $180,911,604 |
| Technology | 1.6% | $70,289,411 |
| Basic Materials | 0.2% | $7,493,855 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
5 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| WFG | West Fraser Timber Co., Ltd | +60,100 | 114,778 | $7,493,855 | |
| UNH | Unitedhealth Group Inc | +38,379 | 347,102 | $93,922,330 | |
| FRO | Frontline plc | +23,965 | 610,694 | $21,288,792 | |
| CACC | Credit Acceptance Corp | +22,136 | 210,470 | $89,125,626 | |
| GTX | Garrett Motion Inc. | +10,649 | 254,910 | $4,631,714 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
24 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CVE | Cenovus Energy Inc. | −1,895,975 | 14,868,003 | $394,448,119 | |
| MAC | Macerich Co | −1,808,473 | 12,155,332 | $229,735,774 | |
| APA | APA Corp | −1,233,224 | 8,269,815 | $350,970,948 | |
| OXY | Occidental Petroleum Corp /De/ | −449,647 | 3,095,535 | $201,209,775 | |
| FITB | Fifth Third Bancorp | −418,716 | 2,831,423 | $131,547,912 | |
| BAC | Bank Of America Corp /De/ | −410,119 | 2,759,684 | $134,534,595 | |
| MRK | Merck & Co., Inc. | −366,902 | 2,471,398 | $297,284,465 | |
| EBAY | Ebay Inc | −261,392 | 1,771,494 | $161,241,383 | |
| COP | Conocophillips | −246,242 | 1,671,303 | $220,611,996 | |
| LEN | Lennar Corp /New/ | −236,066 | 1,586,225 | $137,747,779 | |
| SPG | Simon Property Group Inc. | −231,470 | 1,559,860 | $290,960,685 | |
| DHI | Horton D R Inc /De/ | −222,202 | 1,497,723 | $205,517,550 | |
| TGT | Target Corp | −221,262 | 1,492,670 | $180,911,604 | |
| WAL | Western Alliance Bancorporation | −201,352 | 1,355,591 | $96,043,622 | |
| AXP | American Express Co | −165,788 | 602,643 | $182,287,454 | |
| FANG | Diamondback Energy, Inc. | −158,444 | 1,069,328 | $211,502,385 | |
| JPM | Jpmorgan Chase & Co | −146,698 | 416,094 | $122,398,211 | |
| AMGN | Amgen Inc | −103,877 | 697,919 | $245,562,800 | |
| QCOM | Qualcomm Inc/De | −81,127 | 545,810 | $70,289,411 | |
| CROX | Crocs, Inc. | −77,520 | 517,170 | $42,935,453 | |
| HD | Home Depot, Inc. | −45,480 | 307,339 | $101,080,723 | |
| MTB | M&T Bank Corp | −43,734 | 293,869 | $60,748,599 | |
| ULTA | Ulta Beauty, Inc. | −18,582 | 124,895 | $65,283,865 | |
| NVR | Nvr Inc | −3,207 | 21,538 | $141,931,760 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
29 tracked positions ·
$4,493,249,185 total
· as of Mar 31, 2026
All sectors
Basic Materials
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Real Estate
Technology
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| CVE |
Cenovus Energy Inc.
Energy
|
Reduced | 14,868,003 | $394,448,119 | 8.78% | |
| APA |
APA Corp
Energy
|
Reduced | 8,269,815 | $350,970,948 | 7.81% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Reduced | 2,471,398 | $297,284,465 | 6.62% | |
| SPG |
Simon Property Group Inc.
Real Estate
|
Reduced | 1,559,860 | $290,960,685 | 6.48% | |
| AMGN |
Amgen Inc
Healthcare
|
Reduced | 697,919 | $245,562,800 | 5.47% | |
| MAC |
Macerich Co
Real Estate
|
Reduced | 12,155,332 | $229,735,774 | 5.11% | |
| COP |
Conocophillips
Energy
|
Reduced | 1,671,303 | $220,611,996 | 4.91% | |
| FANG |
Diamondback Energy, Inc.
Energy
|
Reduced | 1,069,328 | $211,502,385 | 4.71% | |
| DHI |
Horton D R Inc /De/
Consumer Cyclical
|
Reduced | 1,497,723 | $205,517,550 | 4.57% | |
| OXY |
Occidental Petroleum Corp /De/
Energy
|
Reduced | 3,095,535 | $201,209,775 | 4.48% | |
| AXP |
American Express Co
Financial Services
|
Reduced | 602,643 | $182,287,454 | 4.06% | |
| TGT |
Target Corp
Consumer Defensive
|
Reduced | 1,492,670 | $180,911,604 | 4.03% | |
| EBAY |
Ebay Inc
Consumer Cyclical
|
Reduced | 1,771,494 | $161,241,383 | 3.59% | |
| NVR |
Nvr Inc
Consumer Cyclical
|
Reduced | 21,538 | $141,931,760 | 3.16% | |
| LEN |
Lennar Corp /New/
Consumer Cyclical
|
Reduced | 1,586,225 | $137,747,779 | 3.07% | |
| BAC |
Bank Of America Corp /De/
Financial Services
|
Reduced | 2,759,684 | $134,534,595 | 2.99% | |
| FITB |
Fifth Third Bancorp
Financial Services
|
Reduced | 2,831,423 | $131,547,912 | 2.93% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 416,094 | $122,398,211 | 2.72% | |
| HD |
Home Depot, Inc.
Consumer Cyclical
|
Reduced | 307,339 | $101,080,723 | 2.25% | |
| WAL |
Western Alliance Bancorporation
Financial Services
|
Reduced | 1,355,591 | $96,043,622 | 2.14% | |
| UNH |
Unitedhealth Group Inc
Healthcare
|
Added | 347,102 | $93,922,330 | 2.09% | |
| CACC |
Credit Acceptance Corp
Financial Services
|
Added | 210,470 | $89,125,626 | 1.98% | |
| QCOM |
Qualcomm Inc/De
Technology
|
Reduced | 545,810 | $70,289,411 | 1.56% | |
| ULTA |
Ulta Beauty, Inc.
Consumer Cyclical
|
Reduced | 124,895 | $65,283,865 | 1.45% | |
| MTB |
M&T Bank Corp
Financial Services
|
Reduced | 293,869 | $60,748,599 | 1.35% | |
| CROX |
Crocs, Inc.
Consumer Cyclical
|
Reduced | 517,170 | $42,935,453 | 0.96% | |
| FRO |
Frontline plc
Energy
|
Added | 610,694 | $21,288,792 | 0.47% | |
| WFG |
West Fraser Timber Co., Ltd
Basic Materials
|
Added | 114,778 | $7,493,855 | 0.17% | |
| GTX |
Garrett Motion Inc.
Consumer Cyclical
|
Added | 254,910 | $4,631,714 | 0.10% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.