Filed: 11/10/2025ACC: 0001172661-25-004652
📋 What this filing means
SMEAD CAPITAL MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 34 equity positions with a total reported market value of $5.18B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
34
Positions
$5.18B
Total AUM (reported)
80.91M
Total Shares
Allocation by class
COM$4.79B92.6%
CL A$245.63M4.7%
COM SER N$134.21M2.6%
*W EXP 08/03/202$3.93M0.1%
RUS 1000 VAL ETF$1.12M0.0%
VALUE ETF$245.6K0.0%
Portfolio Concentration
Top 3$949.40M18.3%
4–10$1.75B33.7%
11–25$2.21B42.6%
Rest$275.55M5.3%
Top 3 weight
18.3%
Top 10 weight
52.1%
Voting Authority Distribution
Total shares with voting rights: 80.91M
Sole
Full voting authority
80.91M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole34
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings34
Rows:
SIMON PPTY GROUP INC NEW
SOLEShares1.92M
TypeSH
Market value$359.48M
6.94%
Sole
1.92M
Shared
0.00
None
0.00
D R HORTON INC
SOLEShares1.84M
TypeSH
Market value$311.68M
6.02%
Sole
1.84M
Shared
0.00
None
0.00
CENOVUS ENERGY INC
SOLEShares16.39M
TypeSH
Market value$278.23M
5.37%
Sole
16.39M
Shared
0.00
None
0.00
AMERICAN EXPRESS CO
SOLEShares821.85K
TypeSH
Market value$272.99M
5.27%
Sole
821.85K
Shared
0.00
None
0.00
MACERICH CO
SOLEShares14.93M
TypeSH
Market value$271.76M
5.25%
Sole
14.93M
Shared
0.00
None
0.00
MERCK & CO INC
SOLEShares3.03M
TypeSH
Market value$254.70M
4.92%
Sole
3.03M
Shared
0.00
None
0.00
APA CORPORATION
SOLEShares10.16M
TypeSH
Market value$246.72M
4.77%
Sole
10.16M
Shared
0.00
None
0.00
LENNAR CORP
SOLEShares1.95M
TypeSH
Market value$245.63M
4.75%
Sole
1.95M
Shared
0.00
None
0.00
AMGEN INC
SOLEShares857.38K
TypeSH
Market value$241.95M
4.67%
Sole
857.38K
Shared
0.00
None
0.00
NVR INC
SOLEShares26.46K
TypeSH
Market value$212.61M
4.11%
Sole
26.46K
Shared
0.00
None
0.00
EBAY INC.
SOLEShares2.17M
TypeSH
Market value$197.70M
3.82%
Sole
2.17M
Shared
0.00
None
0.00
JPMORGAN CHASE & CO.
SOLEShares601.95K
TypeSH
Market value$189.87M
3.67%
Sole
601.95K
Shared
0.00
None
0.00
DIAMONDBACK ENERGY INC
SOLEShares1.31M
TypeSH
Market value$187.81M
3.63%
Sole
1.31M
Shared
0.00
None
0.00
OCCIDENTAL PETE CORP
SOLEShares3.79M
TypeSH
Market value$178.94M
3.46%
Sole
3.79M
Shared
0.00
None
0.00
BANK AMERICA CORP
SOLEShares3.39M
TypeSH
Market value$174.86M
3.38%
Sole
3.39M
Shared
0.00
None
0.00
CONOCOPHILLIPS
SOLEShares1.75M
TypeSH
Market value$165.86M
3.20%
Sole
1.75M
Shared
0.00
None
0.00
TARGET CORP
SOLEShares1.83M
TypeSH
Market value$164.19M
3.17%
Sole
1.83M
Shared
0.00
None
0.00
HOME DEPOT INC
SOLEShares377.41K
TypeSH
Market value$152.92M
2.95%
Sole
377.41K
Shared
0.00
None
0.00
OVINTIV INC
SOLEShares3.46M
TypeSH
Market value$139.69M
2.70%
Sole
3.46M
Shared
0.00
None
0.00
U HAUL HOLDING COMPANY
SOLEShares2.64M
TypeSH
Market value$134.21M
2.59%
Sole
2.64M
Shared
0.00
None
0.00
WESTERN ALLIANCE BANCORP
SOLEShares1.33M
TypeSH
Market value$115.62M
2.23%
Sole
1.33M
Shared
0.00
None
0.00
UNITEDHEALTH GROUP INC
SOLEShares330.12K
TypeSH
Market value$113.99M
2.20%
Sole
330.12K
Shared
0.00
None
0.00
QUALCOMM INC
SOLEShares670.39K
TypeSH
Market value$111.53M
2.15%
Sole
670.39K
Shared
0.00
None
0.00
CREDIT ACCEP CORP MICH
SOLEShares201.40K
TypeSH
Market value$94.04M
1.82%
Sole
201.40K
Shared
0.00
None
0.00
ULTA BEAUTY INC
SOLEShares153.42K
TypeSH
Market value$83.88M
1.62%
Sole
153.42K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SIMON PPTY GROUP INC NEWSOLE | COM | 1.92M | SH | $359.48M 6.94% | 1.92M | 0.00 | 0.00 |
D R HORTON INCSOLE | COM | 1.84M | SH | $311.68M 6.02% | 1.84M | 0.00 | 0.00 |
CENOVUS ENERGY INCSOLE | COM | 16.39M | SH | $278.23M 5.37% | 16.39M | 0.00 | 0.00 |
AMERICAN EXPRESS COSOLE | COM | 821.85K | SH | $272.99M 5.27% | 821.85K | 0.00 | 0.00 |
MACERICH COSOLE | COM | 14.93M | SH | $271.76M 5.25% | 14.93M | 0.00 | 0.00 |
MERCK & CO INCSOLE | COM | 3.03M | SH | $254.70M 4.92% | 3.03M | 0.00 | 0.00 |
APA CORPORATIONSOLE | COM | 10.16M | SH | $246.72M 4.77% | 10.16M | 0.00 | 0.00 |
LENNAR CORPSOLE | CL A | 1.95M | SH | $245.63M 4.75% | 1.95M | 0.00 | 0.00 |
AMGEN INCSOLE | COM | 857.38K | SH | $241.95M 4.67% | 857.38K | 0.00 | 0.00 |
NVR INCSOLE | COM | 26.46K | SH | $212.61M 4.11% | 26.46K | 0.00 | 0.00 |
EBAY INC.SOLE | COM | 2.17M | SH | $197.70M 3.82% | 2.17M | 0.00 | 0.00 |
JPMORGAN CHASE & CO.SOLE | COM | 601.95K | SH | $189.87M 3.67% | 601.95K | 0.00 | 0.00 |
DIAMONDBACK ENERGY INCSOLE | COM | 1.31M | SH | $187.81M 3.63% | 1.31M | 0.00 | 0.00 |
OCCIDENTAL PETE CORPSOLE | COM | 3.79M | SH | $178.94M 3.46% | 3.79M | 0.00 | 0.00 |
BANK AMERICA CORPSOLE | COM | 3.39M | SH | $174.86M 3.38% | 3.39M | 0.00 | 0.00 |
CONOCOPHILLIPSSOLE | COM | 1.75M | SH | $165.86M 3.20% | 1.75M | 0.00 | 0.00 |
TARGET CORPSOLE | COM | 1.83M | SH | $164.19M 3.17% | 1.83M | 0.00 | 0.00 |
HOME DEPOT INCSOLE | COM | 377.41K | SH | $152.92M 2.95% | 377.41K | 0.00 | 0.00 |
OVINTIV INCSOLE | COM | 3.46M | SH | $139.69M 2.70% | 3.46M | 0.00 | 0.00 |
U HAUL HOLDING COMPANYSOLE | COM SER N | 2.64M | SH | $134.21M 2.59% | 2.64M | 0.00 | 0.00 |
WESTERN ALLIANCE BANCORPSOLE | COM | 1.33M | SH | $115.62M 2.23% | 1.33M | 0.00 | 0.00 |
UNITEDHEALTH GROUP INCSOLE | COM | 330.12K | SH | $113.99M 2.20% | 330.12K | 0.00 | 0.00 |
QUALCOMM INCSOLE | COM | 670.39K | SH | $111.53M 2.15% | 670.39K | 0.00 | 0.00 |
CREDIT ACCEP CORP MICHSOLE | COM | 201.40K | SH | $94.04M 1.82% | 201.40K | 0.00 | 0.00 |
ULTA BEAUTY INCSOLE | COM | 153.42K | SH | $83.88M 1.62% | 153.42K | 0.00 | 0.00 |
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