Equal-WT
WhaleScore 2.0
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SMEAD CAPITAL MANAGEMENT, INC.
PHOENIX AZ
Investment Advisor
Hedge Fund
Smead Capital Management is based out of Phoenix. Smead Capital Management is a hedge fund with 87 clients and discretionary assets under management (AUM) of $5,914,231,152 (Form ADV from 2024-02-26). Their last reported 13F filing for Q3 2024 included $7,009,901,995 in managed 13F securities
and a top 10 holdings concentration of 57.28%. Smead Capital Management's largest holding is Lennar Corp. Class A with shares held of 2,666,905. Whalewisdom has at least 70 13F filings, and 2 13G filings
Business Description
Smead Capital Management, Inc. (SCM) is a registered investment adviser that provides investment management services to separate accounts and mutual funds. SCM is a Sub-S corporation with William W. Smead being the only shareholder that holds greater than 25% of the Firm’s shares. SCM was established in July of 2007.
SCM provides investment advisory services for securities such as exchange-listed securities, securities traded over-the-counter, certificates of deposit, mutual fund shares, and US government securities. SCM may choose to report to the financial intermediary directly instead of to the Client. SCM does not compensate for Client referrals.
Investment Strategy
The investment strategies involve a rigorous process of evaluating candidate companies against eight criteria. Five criteria are mandatory for the entire holding period: meeting an economic need, possessing a strong competitive advantage, having a long history of profitability and strong operating metrics, generating high levels of free cash flow, and being available at a low price in relation to intrinsic value. Three additional criteria are favored but not required: management's history of shareholder friendliness, a strong balance sheet, and strong insider ownership.
Successful investments that have grown significantly or whose valuations have become excessive are likely to be trimmed or sold as a risk management measure. Additionally, a company may be sold if its fundamentals have changed and it no longer meets SCM's criteria. Furthermore, if a security falls significantly from its initial purchase price, a formal review is conducted to determine whether to increase the weighting of the security or dispose of it.
Known Email Addresses
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Other Contact Information
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2024-09-30
Top Buys (13F)
| Name | % Change |
|---|---|
| DHI D.R. Horton, Inc | 1.5% |
| LEN Lennar Corp. Class A | 1.1% |
| NVR NVR Inc | 0.92% |
| AXP American Express Co | 0.61% |
| MAC Macerich Co. | 0.56% |
2024-09-30
Top Sells (13F)
| Name | % Change |
|---|---|
| WBD Warner Bros.Discover | 0.81% |
| GOOS Canada Goose Holding | 0.06% |
| OXYWS.WI Occidental Petroleum | 0.04% |
2024-09-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| LEN Lennar Corp. Class A | 7.13% |
| DHI D.R. Horton, Inc | 6.85% |
| SPG Simon Property Group | 6.32% |
| AXP American Express Co | 6.3% |
| MRK Merck & Co Inc | 5.48% |
2024-09-30
13F Activity
| Market Value | $7.01b, Prior: $6.41b |
| Inflows (Outflows) as % of Total MV | +3.8861% |
| New Purchases | 0 stocks |
| Added To | 28 stocks |
| Sold out of | 2 stocks |
| Reduced holdings in | 2 stocks |
| Top 10 Holdings % | 57.28% |
| Turnover %[1] | 6.25% |
| Turnover Alt %[2] | 0.81% |
| Time Held Top 20 | 26.05 quarters |
| Time Held Top 10 | 10.7 quarters |
| Time Held All | 25.67 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-09-30
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2024-09-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-09-30