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Smead Capital Management, Inc.

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13F filer, CIK 1427008, Phoenix, AZ

Smead Capital Management, Inc. reported $4,994,660,284 across 33 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 50.96% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003237

Period
2025-06-30
Reported value
$4.99B
Holdings
33
Top 10 weight
50.96%
New
3
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FANGnew+1,053,675$145M
UNHnew+252,438$78.8M
TGTadded+334,817$33M
CVEadded+2,056,163$28M
UHAL-Badded+441,264$24M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
AXPreduced-343,542-$110M
DVNreduced-3,305,636-$105M
BRK-Bexited-189,065-$101M
JPMreduced-339,152-$98.3M
BACreduced-2,011,673-$95.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001172661-25-003237, largest first. % of portfolio is the value over $4,994,660,284, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,620,355 shares; 2024Q4: 2,558,289 shares; 2025Q1: 2,336,798 shares; 2025Q2: 2,062,019 shares 2,062,019$331M6.64%-274,779Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,629,480 shares; 2024Q4: 1,344,431 shares; 2025Q1: 1,228,274 shares; 2025Q2: 884,732 shares 884,732$282M5.65%-343,542Timeline
MACMACERICH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,433,449 shares; 2024Q4: 19,949,757 shares; 2025Q1: 18,214,281 shares; 2025Q2: 16,074,002 shares 16,074,002$260M5.21%-2,140,279Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,380,469 shares; 2024Q4: 3,300,210 shares; 2025Q1: 3,334,566 shares; 2025Q2: 3,267,318 shares 3,267,318$259M5.18%-67,248Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,172,866 shares; 2024Q4: 1,145,056 shares; 2025Q1: 1,046,014 shares; 2025Q2: 922,968 shares 922,968$258M5.16%-123,046Timeline
DHID R HORTON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,516,673 shares; 2024Q4: 2,456,911 shares; 2025Q1: 2,243,666 shares; 2025Q2: 1,979,845 shares 1,979,845$255M5.11%-263,821Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,416,146 shares; 2024Q4: 15,123,232 shares; 2025Q1: 15,495,912 shares; 2025Q2: 17,552,075 shares 17,552,075$239M4.79%+2,056,163Timeline
LENLENNAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,666,905 shares; 2024Q4: 2,603,555 shares; 2025Q1: 2,377,483 shares; 2025Q2: 2,097,906 shares 2,097,906$232M4.65%-279,577Timeline
EBAYEBAY INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,725,760 shares; 2024Q4: 3,637,757 shares; 2025Q1: 3,323,333 shares; 2025Q2: 2,932,396 shares 2,932,396$218M4.37%-390,937Timeline
NVRNVR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,218 shares; 2024Q4: 35,355 shares; 2025Q1: 32,283 shares; 2025Q2: 28,486 shares 28,486$210M4.21%-3,797Timeline
APAAPA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,667,452 shares; 2024Q4: 12,681,405 shares; 2025Q1: 12,404,821 shares; 2025Q2: 10,941,229 shares 10,941,229$200M4.01%-1,463,592Timeline
TGTTARGET CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,243,928 shares; 2024Q4: 1,491,157 shares; 2025Q1: 1,638,296 shares; 2025Q2: 1,973,113 shares 1,973,113$195M3.9%+334,817Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,409,521 shares; 2024Q4: 1,080,528 shares; 2025Q1: 987,155 shares; 2025Q2: 648,003 shares 648,003$188M3.76%-339,152Timeline
BACBANK OF AMER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,935,264 shares; 2024Q4: 6,195,818 shares; 2025Q1: 5,660,444 shares; 2025Q2: 3,648,771 shares 3,648,771$173M3.46%-2,011,673Timeline
OXYOCCIDENTAL PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,700,697 shares; 2024Q4: 6,549,155 shares; 2025Q1: 5,937,965 shares; 2025Q2: 4,071,705 shares 4,071,705$171M3.42%-1,866,260Timeline
COPCONOCOPHILLIPSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,196,884 shares; 2024Q4: 2,144,865 shares; 2025Q1: 2,139,377 shares; 2025Q2: 1,887,445 shares 1,887,445$169M3.39%-251,932Timeline
OVVOVINTIV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,303,203 shares; 2024Q4: 6,142,821 shares; 2025Q1: 6,049,598 shares; 2025Q2: 4,355,580 shares 4,355,580$166M3.32%-1,694,018Timeline
UHAL-BU HAUL HOLDING COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,431,771 shares; 2024Q4: 2,456,781 shares; 2025Q1: 2,401,119 shares; 2025Q2: 2,842,383 shares 2,842,383$155M3.09%+441,264Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,204 shares; 2024Q4: 503,875 shares; 2025Q1: 460,325 shares; 2025Q2: 406,273 shares 406,273$149M2.98%-54,052Timeline
FANGDIAMONDBACK ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,053,675 shares 1,053,675$145M2.9%newTimeline
QCOMQUALCOMM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 687,507 shares; 2024Q4: 671,266 shares; 2025Q1: 613,096 shares; 2025Q2: 721,679 shares 721,679$115M2.3%+108,583Timeline
WALWESTERN ALLIANCE BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,350,195 shares; 2024Q4: 1,318,211 shares; 2025Q1: 1,204,088 shares; 2025Q2: 1,435,247 shares 1,435,247$112M2.24%+231,159Timeline
CACCCREDIT ACCEP CORP MICHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 207,828 shares; 2024Q4: 202,907 shares; 2025Q1: 185,373 shares; 2025Q2: 216,811 shares 216,811$110M2.21%+31,438Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 252,438 shares 252,438$78.8M1.58%newTimeline
ULTAULTA BEAUTY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 204,891 shares; 2025Q1: 187,167 shares; 2025Q2: 165,158 shares 165,158$77.3M1.55%-22,009Timeline
DVNDEVON ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,879,516 shares; 2024Q4: 5,734,353 shares; 2025Q1: 5,706,322 shares; 2025Q2: 2,400,686 shares 2,400,686$76.4M1.53%-3,305,636Timeline
MTBM & T BK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 493,817 shares; 2024Q4: 482,120 shares; 2025Q1: 440,378 shares; 2025Q2: 388,621 shares 388,621$75.4M1.51%-51,757Timeline
FITBFIFTH THIRD BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,224,047 shares; 2024Q4: 2,171,369 shares; 2025Q1: 1,983,539 shares; 2025Q2: 1,750,355 shares 1,750,355$72M1.44%-233,184Timeline
FROFRONTLINE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 670,581 shares; 2024Q4: 694,444 shares; 2025Q1: 685,070 shares; 2025Q2: 590,266 shares 590,266$9.75M0.2%-94,804Timeline
WFGWEST FRASER TIMBER CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 118,108 shares; 2024Q4: 122,321 shares; 2025Q1: 120,949 shares; 2025Q2: 120,378 shares 120,378$8.83M0.18%-571Timeline
OXY/WSOCCIDENTAL PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,860 shares; 2024Q4: 156,248 shares; 2025Q1: 154,699 shares; 2025Q2: 153,969 shares 153,969$3.19M0.06%-730Timeline
IWDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 7,247 shares; 2025Q1: 6,440 shares; 2025Q2: 3,496 shares 3,496$679K0.01%-2,944Timeline
VTVVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,726 shares; 2025Q1: not reported; 2025Q2: 1,530 shares 1,530$270K0.01%newTimeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BRK-BBERKSHIRE HATHAWAY INC DEL189,065$101Mshares
SIRISIRIUSXM HOLDINGS INC2,450,931$55.3Mshares
MRPMILLROSE PPTYS INC1,186,210$31.4Mshares
UHALU HAUL HOLDING COMPANY209,649$13.7Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-003237 base2025-08-14acceptance time not in the bulk data set