Bill Smead – Smead Capital Management, Inc.

Period:
Q1 2026
Portfolio date:
Mar 31, 2026
No. of stocks:
31
Portfolio value:
$4,597,102,000
Filed:
May 14, 2026
Style:
Concentrated Value
HistStockActivityShare change% change to portfolio
Q1 2026filed May 14, 264 added25 reduced
≡APA – APA CORPORATIONReduce 13.00%−1,233,2242.81
≡CVE – CENOVUS ENERGY INCReduce 11.00%−1,895,9752.69
≡AXP – AMERICAN EXPRESS COReduce 22.00%−165,788−1.93
≡OXY – OCCIDENTAL PETE CORPReduce 13.00%−449,6471.35
≡JPM – JPMORGAN CHASE & COReduce 26.00%−146,698−1.10
≡COP – CONOCOPHILLIPSReduce 13.00%−246,2421.07
≡LEN – LENNAR CORPReduce 13.00%−236,066−0.89
≡FANG – DIAMONDBACK ENERGY INCReduce 13.00%−158,4440.77
≡QCOM – QUALCOMM INCReduce 13.00%−81,127−0.70
≡BAC – BANK AMERICA CORPReduce 13.00%−410,119−0.69
≡DHI – D R HORTON INCReduce 13.00%−222,202−0.67
≡NVR – NVR INCReduce 13.00%−3,207−0.66
≡WAL – WESTERN ALLIANCE BANCORPReduce 13.00%−201,352−0.63
≡SPG – SIMON PPTY GROUP INC NEWReduce 13.00%−231,470−0.55
≡TGT – TARGET CORPReduce 13.00%−221,2620.46
≡ULTA – ULTA BEAUTY INCReduce 13.00%−18,582−0.38
≡MAC – MACERICH COReduce 13.00%−1,808,473−0.35
≡HD – HOME DEPOT INCReduce 13.00%−45,480−0.32
≡UHAL – U HAUL HOLDING COMPANYReduce 13.00%−320,586−0.31
≡FITB – FIFTH THIRD BANCORPReduce 13.00%−418,716−0.30
≡MRK – MERCK & CO INCReduce 13.00%−366,9020.27
≡CACC – CREDIT ACCEP CORP MICHAdd 12.00%22,1360.21
≡EBAY – EBAY INC.Reduce 13.00%−261,392−0.17
≡CROX – CROCS INCReduce 13.00%−77,520−0.12
≡AMGN – AMGEN INCReduce 13.00%−103,877−0.10
≡WFG – WEST FRASER TIMBER LTDAdd 110.00%60,1000.09
≡MTB – M & T BK CORPReduce 13.00%−43,734−0.09
≡UNH – UNITEDHEALTH GROUP INCAdd 12.00%38,379−0.07
≡ETHB – ISHARES TRAdd 43.00%1,8720.01