Filed: 5/14/2026ACC: 0001172661-26-001955
📋 What this filing means
SMEAD CAPITAL MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 32 equity positions with a total reported market value of $4.60B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
32
Positions
$4.60B
Total AUM (reported)
65.82M
Total Shares
Allocation by class
COM$4.36B94.7%
CL A$137.75M3.0%
COM SER N$95.88M2.1%
*W EXP 08/03/202$6.49M0.1%
RUS 1000 VAL ETF$1.34M0.0%
Portfolio Concentration
Top 3$1.04B22.7%
4–10$1.61B34.9%
11–25$1.80B39.2%
Rest$145.05M3.2%
Top 3 weight
22.7%
Top 10 weight
57.6%
Voting Authority Distribution
Total shares with voting rights: 65.82M
Sole
Full voting authority
65.82M
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)
Sole32
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings32
Rows:
CENOVUS ENERGY INC
SOLEShares14.87M
TypeSH
Market value$394.46M
8.58%
Sole
14.87M
Shared
0.00
None
0.00
APA CORPORATION
SOLEShares8.27M
TypeSH
Market value$350.97M
7.63%
Sole
8.27M
Shared
0.00
None
0.00
MERCK & CO INC
SOLEShares2.47M
TypeSH
Market value$297.28M
6.47%
Sole
2.47M
Shared
0.00
None
0.00
SIMON PPTY GROUP INC NEW
SOLEShares1.56M
TypeSH
Market value$290.96M
6.33%
Sole
1.56M
Shared
0.00
None
0.00
AMGEN INC
SOLEShares697.92K
TypeSH
Market value$245.56M
5.34%
Sole
697.92K
Shared
0.00
None
0.00
MACERICH CO
SOLEShares12.16M
TypeSH
Market value$229.74M
5.00%
Sole
12.16M
Shared
0.00
None
0.00
CONOCOPHILLIPS
SOLEShares1.67M
TypeSH
Market value$220.61M
4.80%
Sole
1.67M
Shared
0.00
None
0.00
DIAMONDBACK ENERGY INC
SOLEShares1.07M
TypeSH
Market value$211.50M
4.60%
Sole
1.07M
Shared
0.00
None
0.00
D R HORTON INC
SOLEShares1.50M
TypeSH
Market value$205.52M
4.47%
Sole
1.50M
Shared
0.00
None
0.00
OCCIDENTAL PETE CORP
SOLEShares3.10M
TypeSH
Market value$201.21M
4.38%
Sole
3.10M
Shared
0.00
None
0.00
AMERICAN EXPRESS CO
SOLEShares602.64K
TypeSH
Market value$182.29M
3.97%
Sole
602.64K
Shared
0.00
None
0.00
TARGET CORP
SOLEShares1.49M
TypeSH
Market value$180.91M
3.94%
Sole
1.49M
Shared
0.00
None
0.00
EBAY INC.
SOLEShares1.77M
TypeSH
Market value$161.24M
3.51%
Sole
1.77M
Shared
0.00
None
0.00
NVR INC
SOLEShares21.54K
TypeSH
Market value$141.94M
3.09%
Sole
21.54K
Shared
0.00
None
0.00
LENNAR CORP
SOLEShares1.59M
TypeSH
Market value$137.75M
3.00%
Sole
1.59M
Shared
0.00
None
0.00
BANK AMERICA CORP
SOLEShares2.76M
TypeSH
Market value$134.53M
2.93%
Sole
2.76M
Shared
0.00
None
0.00
FIFTH THIRD BANCORP
SOLEShares2.83M
TypeSH
Market value$131.55M
2.86%
Sole
2.83M
Shared
0.00
None
0.00
JPMORGAN CHASE & CO
SOLEShares416.09K
TypeSH
Market value$122.40M
2.66%
Sole
416.09K
Shared
0.00
None
0.00
HOME DEPOT INC
SOLEShares307.34K
TypeSH
Market value$101.08M
2.20%
Sole
307.34K
Shared
0.00
None
0.00
WESTERN ALLIANCE BANCORP
SOLEShares1.36M
TypeSH
Market value$96.04M
2.09%
Sole
1.36M
Shared
0.00
None
0.00
U HAUL HOLDING COMPANY
SOLEShares2.15M
TypeSH
Market value$95.88M
2.09%
Sole
2.15M
Shared
0.00
None
0.00
UNITEDHEALTH GROUP INC
SOLEShares347.10K
TypeSH
Market value$93.92M
2.04%
Sole
347.10K
Shared
0.00
None
0.00
CREDIT ACCEP CORP MICH
SOLEShares210.47K
TypeSH
Market value$89.13M
1.94%
Sole
210.47K
Shared
0.00
None
0.00
QUALCOMM INC
SOLEShares545.81K
TypeSH
Market value$70.29M
1.53%
Sole
545.81K
Shared
0.00
None
0.00
ULTA BEAUTY INC
SOLEShares124.89K
TypeSH
Market value$65.28M
1.42%
Sole
124.89K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
CENOVUS ENERGY INCSOLE | COM | 14.87M | SH | $394.46M 8.58% | 14.87M | 0.00 | 0.00 |
APA CORPORATIONSOLE | COM | 8.27M | SH | $350.97M 7.63% | 8.27M | 0.00 | 0.00 |
MERCK & CO INCSOLE | COM | 2.47M | SH | $297.28M 6.47% | 2.47M | 0.00 | 0.00 |
SIMON PPTY GROUP INC NEWSOLE | COM | 1.56M | SH | $290.96M 6.33% | 1.56M | 0.00 | 0.00 |
AMGEN INCSOLE | COM | 697.92K | SH | $245.56M 5.34% | 697.92K | 0.00 | 0.00 |
MACERICH COSOLE | COM | 12.16M | SH | $229.74M 5.00% | 12.16M | 0.00 | 0.00 |
CONOCOPHILLIPSSOLE | COM | 1.67M | SH | $220.61M 4.80% | 1.67M | 0.00 | 0.00 |
DIAMONDBACK ENERGY INCSOLE | COM | 1.07M | SH | $211.50M 4.60% | 1.07M | 0.00 | 0.00 |
D R HORTON INCSOLE | COM | 1.50M | SH | $205.52M 4.47% | 1.50M | 0.00 | 0.00 |
OCCIDENTAL PETE CORPSOLE | COM | 3.10M | SH | $201.21M 4.38% | 3.10M | 0.00 | 0.00 |
AMERICAN EXPRESS COSOLE | COM | 602.64K | SH | $182.29M 3.97% | 602.64K | 0.00 | 0.00 |
TARGET CORPSOLE | COM | 1.49M | SH | $180.91M 3.94% | 1.49M | 0.00 | 0.00 |
EBAY INC.SOLE | COM | 1.77M | SH | $161.24M 3.51% | 1.77M | 0.00 | 0.00 |
NVR INCSOLE | COM | 21.54K | SH | $141.94M 3.09% | 21.54K | 0.00 | 0.00 |
LENNAR CORPSOLE | CL A | 1.59M | SH | $137.75M 3.00% | 1.59M | 0.00 | 0.00 |
BANK AMERICA CORPSOLE | COM | 2.76M | SH | $134.53M 2.93% | 2.76M | 0.00 | 0.00 |
FIFTH THIRD BANCORPSOLE | COM | 2.83M | SH | $131.55M 2.86% | 2.83M | 0.00 | 0.00 |
JPMORGAN CHASE & COSOLE | COM | 416.09K | SH | $122.40M 2.66% | 416.09K | 0.00 | 0.00 |
HOME DEPOT INCSOLE | COM | 307.34K | SH | $101.08M 2.20% | 307.34K | 0.00 | 0.00 |
WESTERN ALLIANCE BANCORPSOLE | COM | 1.36M | SH | $96.04M 2.09% | 1.36M | 0.00 | 0.00 |
U HAUL HOLDING COMPANYSOLE | COM SER N | 2.15M | SH | $95.88M 2.09% | 2.15M | 0.00 | 0.00 |
UNITEDHEALTH GROUP INCSOLE | COM | 347.10K | SH | $93.92M 2.04% | 347.10K | 0.00 | 0.00 |
CREDIT ACCEP CORP MICHSOLE | COM | 210.47K | SH | $89.13M 1.94% | 210.47K | 0.00 | 0.00 |
QUALCOMM INCSOLE | COM | 545.81K | SH | $70.29M 1.53% | 545.81K | 0.00 | 0.00 |
ULTA BEAUTY INCSOLE | COM | 124.89K | SH | $65.28M 1.42% | 124.89K | 0.00 | 0.00 |
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