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Smead Capital Management, Inc.

CIK 1427008 · latest 13F filed 16 October 2026 · Read the filing on EDGAR

Smead Capital Management, Inc. reported 31 US-listed holdings worth $4.71 billion in its 13F for the quarter ended 30 September 2026, filed 16 October 2026. Its largest: Cenovus Energy Inc. (9.0%), Merck & Co., Inc. (7.1%) and APA Corp. (6.8%). Against the quarter before, it opened 0 positions, added to 9, trimmed 22 and sold out of 1.

Reported holdings$4.71B+0.9% on Q2 2026
Positions31-1 on Q2 2026
The largest ten55.1%of its reported holdings
Latest 13FQ3 2026filed 16 October 2026
Where the money is
Added toTrimmed
CVE9.0%MRK7.1%APA6.8%MAC5.4%SPG5.4%AMGN5.3%COP4.1%TGT4.1%DHI4.1%LEN4.0%FANG3.9%NVR3.6%AXP3.6%OXY17 more30.2%

The 14 largest of its 31 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.

Reported holdings, quarter by quarter
Q4 2024: $6.45 billion in 34 positions$6.45BQ4 24Q1 2025: $5.83 billion in 34 positions$5.83BQ1 25Q2 2025: $4.99 billion in 33 positions$4.99BQ2 25Q3 2025: $5.18 billion in 34 positions$5.18BQ3 25Q4 2025: $4.82 billion in 32 positions$4.82BQ4 25Q1 2026: $4.60 billion in 32 positions$4.60BQ1 26Q2 2026: $4.66 billion in 32 positions$4.66BQ2 26Q3 2026: $4.71 billion in 31 positions$4.71BQ3 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What it did on the quarter

Added 9Trimmed 22Sold out 1
Added: 9Trimmed: 22Sold out: 1

Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held

Added to 9

  1. Crocs, Inc. CROX+220,571 shares · +45%
  2. Zoetis Inc. ZTS+347,786 shares · +28%
  3. Western Alliance Bancorporation WAL+295,592 shares · +19%
  4. Lennar Corp. LEN+264,284 shares · +13%
  5. Frontline PLC FRO+127,002 shares · +20%
  6. Cenovus Energy Inc. CVE+197,427 shares · +1%
  7. West Fraser Timber Co. Ltd WFG+68,400 shares · +55%
  8. Garrett Motion Inc. GTX+165,177 shares · +60%

and 1 more in the table below

Trimmed 22

  1. Amgen Inc. AMGN-72,737 shares · -11%
  2. Simon Property Group Inc. SPG-144,703 shares · -10%
  3. Target Corp. TGT-176,556 shares · -13%
  4. Bank of America Corp. BAC-439,218 shares · -17%
  5. Merck & Co., Inc. MRK-28,552 shares · -1%
  6. Macerich Co. MAC-183,351 shares · -2%
  7. APA Corp. APA-94,361 shares · -1%
  8. NVR Inc. NVR-419 shares · -1%

and 14 more in the table below

Sold out of 1

  1. Occidental Pete Corp.$1.7 million last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Cenovus Energy Inc. CVE13,568,058$421.8 million8.96%+197,427
Merck & Co., Inc. MRK2,305,916$335.1 million7.12%-28,552
APA Corp. APA7,714,207$320.4 million6.81%-94,361
Macerich Co. MAC11,298,361$252.6 million5.37%-183,351
Simon Property Group Inc. SPG1,255,022$252.0 million5.35%-144,703
Amgen Inc. AMGN586,504$247.2 million5.25%-72,737
ConocoPhillips COP1,558,825$195.1 million4.15%-19,021
Target Corp. TGT1,233,410$193.3 million4.11%-176,556
D.R. Horton, Inc. DHI1,396,714$190.9 million4.06%-17,507
Lennar Corp. LEN2,284,725$186.4 million3.96%+264,284
Diamondback Energy, Inc. FANG997,743$183.4 million3.90%-12,246
NVR Inc. NVR27,829$171.3 million3.64%-419
American Express Co. AXP562,102$170.9 million3.63%-6,961
Occidental Petroleum Corp. OXY2,939,694$162.6 million3.46%+49,709
Fifth Third Bancorp FITB3,125,275$158.1 million3.36%-46,549
Western Alliance Bancorporation WAL1,890,270$142.0 million3.02%+295,592
JPMorgan Chase & Co. JPM385,586$127.6 million2.71%-7,314
UnitedHealth Group Inc. UNH324,391$119.1 million2.53%-4,023
Bank of America Corp. BAC2,167,615$118.0 million2.51%-439,218
Zoetis Inc. ZTS1,580,996$110.4 million2.35%+347,786
U Haul Holding Company UHALB2,005,288$106.0 million2.25%-25,972
Credit Acceptance Corp. CACC196,381$104.3 million2.22%-2,427
Ebay Inc. EBAY805,908$85.5 million1.82%-10,015
Crocs, Inc. CROX709,816$83.3 million1.77%+220,571
Home Depot, Inc. HD286,495$81.5 million1.73%-3,664
Ulta Beauty, Inc. ULTA116,537$63.6 million1.35%-1,439
M&T Bank Corp. MTB274,204$59.7 million1.27%-3,390
Frontline PLC FRO760,775$37.7 million0.80%+127,002
West Fraser Timber Co. Ltd WFG192,278$13.3 million0.28%+68,400
Garrett Motion Inc. GTX440,241$11.5 million0.24%+165,177
iShares Russell 1000 Value Inde IWD4,586$1.1 million0.02%-370
Every US-listed position in the fund's 13F for the quarter ended 30 September 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 1 it sold out of are in the box above.