Smead Capital Management, Inc. — 13F Holdings & Portfolio
CIK 1427008 · latest 13F-HR filed 2026-05-14
Smead Capital Management, Inc. manages $4.60B in 13F-reported U.S. long-equity assets across 32 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CVE (8.58%), APA (7.63%), MRK (6.47%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 0 new positions, exited 0, added to 12, and trimmed 19.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$4.60B
Long-equity book
32
Distinct positions
2026-03-31
Filed 2026-05-14
+0 / −0 / ↑12 / ↓19
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- APA CORPORATION$118.5M +51.0%
- CENOVUS ENERGY INC$110.8M +39.1%
- OCCIDENTAL PETE CORP$55.4M +38.0%
- CONOCOPHILLIPS$41.1M +22.9%
- DIAMONDBACK ENERGY INC$26.9M +14.6%
Top Trims
- AMERICAN EXPRESS CO-$102.0M -35.9%
- JPMORGAN CHASE & CO-$58.9M -32.5%
- LENNAR CORP-$49.6M -26.5%
- D R HORTON INC-$42.2M -17.0%
- SIMON PPTY GROUP INC NEW-$40.6M -12.3%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CENOVUS ENERGY INC | CVE | 15135U109 | $394.5M | 8.58% | 14,868,003 | SH |
| 2 | APA CORPORATION | APA | 03743Q108 | $351.0M | 7.63% | 8,269,815 | SH |
| 3 | MERCK & CO INC | MRK | 58933Y105 | $297.3M | 6.47% | 2,471,398 | SH |
| 4 | SIMON PPTY GROUP INC NEW | SPG | 828806109 | $291.0M | 6.33% | 1,559,860 | SH |
| 5 | AMGEN INC | AMGN | 031162100 | $245.6M | 5.34% | 697,919 | SH |
| 6 | MACERICH CO | MAC | 554382101 | $229.7M | 5.00% | 12,155,332 | SH |
| 7 | CONOCOPHILLIPS | COP | 20825C104 | $220.6M | 4.80% | 1,671,303 | SH |
| 8 | DIAMONDBACK ENERGY INC | FANG | 25278X109 | $211.5M | 4.60% | 1,069,328 | SH |
| 9 | D R HORTON INC | DHI | 23331A109 | $205.5M | 4.47% | 1,497,723 | SH |
| 10 | OCCIDENTAL PETE CORP | OXY | 674599105 | $201.2M | 4.38% | 3,095,535 | SH |
| 11 | AMERICAN EXPRESS CO | AXP | 025816109 | $182.3M | 3.97% | 602,643 | SH |
| 12 | TARGET CORP | TGT | 87612E106 | $180.9M | 3.94% | 1,492,670 | SH |
| 13 | EBAY INC. | EBAY | 278642103 | $161.2M | 3.51% | 1,771,494 | SH |
| 14 | NVR INC | NVR | 62944T105 | $141.9M | 3.09% | 21,538 | SH |
| 15 | LENNAR CORP | LEN | 526057104 | $137.7M | 3.00% | 1,586,225 | SH |
| 16 | BANK AMERICA CORP | BAC | 060505104 | $134.5M | 2.93% | 2,759,684 | SH |
| 17 | FIFTH THIRD BANCORP | FITB | 316773100 | $131.5M | 2.86% | 2,831,423 | SH |
| 18 | JPMORGAN CHASE & CO | JPM | 46625H100 | $122.4M | 2.66% | 416,094 | SH |
| 19 | HOME DEPOT INC | HD | 437076102 | $101.1M | 2.20% | 307,339 | SH |
| 20 | WESTERN ALLIANCE BANCORP | WAL | 957638109 | $96.0M | 2.09% | 1,355,591 | SH |
| 21 | U HAUL HOLDING COMPANY | UHAL.B | 023586506 | $95.9M | 2.09% | 2,146,425 | SH |
| 22 | UNITEDHEALTH GROUP INC | UNH | 91324P102 | $93.9M | 2.04% | 347,102 | SH |
| 23 | CREDIT ACCEP CORP MICH | CACC | 225310101 | $89.1M | 1.94% | 210,470 | SH |
| 24 | QUALCOMM INC | QCOM | 747525103 | $70.3M | 1.53% | 545,810 | SH |
| 25 | ULTA BEAUTY INC | ULTA | 90384S303 | $65.3M | 1.42% | 124,895 | SH |
| 26 | M & T BK CORP | MTB | 55261F104 | $60.7M | 1.32% | 293,869 | SH |
| 27 | CROCS INC | CROX | 227046109 | $42.9M | 0.93% | 517,170 | SH |
| 28 | FRONTLINE PLC | FRO | M46528101 | $21.4M | 0.47% | 610,694 | SH |
| 29 | WEST FRASER TIMBER LTD | WFG | 952845105 | $7.5M | 0.16% | 114,778 | SH |
| 30 | OCCIDENTAL PETE CORP | OXY.WS | 674599162 | $6.5M | 0.14% | 151,211 | SH |
| 31 | GARRETT MOTION INC | GTX | 366505105 | $4.6M | 0.10% | 254,910 | SH |
| 32 | ISHARES TR | IWD | 464287598 | $1.3M | 0.03% | 6,264 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-14 | $4.60B | 32 | 0001172661-26-001955 |
| 2025-12-31 | 2026-02-09 | $4.82B | 32 | 0001172661-26-000531 |
| 2025-09-30 | 2025-11-10 | $5.18B | 34 | 0001172661-25-004652 |