Smead Capital Management, Inc.
SEC Form 13F institutional filer · CIK 0001427008
13F-HR · 22 reported holdings · 2026-03-31
Asset management firm.
Reported long-US-equity value
$3.62B
Top-10 concentration
66.2%
Smead Capital Management, Inc. — $3.62B AUM allocation strategy
Smead Capital Management, Inc. files SEC Form 13F and reports $3.62B of long US equity value across 22 reported holdings for 2026-03-31.
Its largest sector bet is Energy 27.4%, followed by Consumer Discretionary 22.5% and Health Care 17.6%.
The top 10 holdings account for 66% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Smead Capital Management, Inc. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$3.62B
total across 22 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
66% of value
higher = narrower conviction; lower = spread / hedging
Biggest trims (shares)
−$APA −1.23M sh · +$119M−$OXY −451K sh · +$59M−$FITB −419K sh · −$20.6M
Added from nil (new positions)
None this quarter
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Oil & Gas Exploration & Production27.4%—
- Homebuilding13.5%—
- Pharmaceuticals8.3%—
- Retail REITs8.1%—
- Diversified Banks7.1%—
- Biotechnology6.8%—
- Consumer Finance5.0%—
- Consumer Staples Merchandise Retail5.0%—
- Other holdings18.9%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $APA | APA Corporation | 8.27M | $351M | -1.23M | 9.7% |
| $MRK | Merck & Company Inc | 2.47M | $297M | -367K | 8.2% |
| $SPG | Simon Property Group Inc | 1.56M | $291M | -231K | 8.0% |
| $AMGN | Amgen Inc | 698K | $246M | -104K | 6.8% |
| $COP | ConocoPhillips | 1.67M | $221M | -246K | 6.1% |
| $FANG | Diamondback Energy Inc | 1.07M | $212M | -158K | 5.9% |
| $OXY | Occidental Petroleum Corporation | 3.25M | $208M | -451K | 5.7% |
| $DHI | D.R. Horton Inc | 1.5M | $206M | -222K | 5.7% |
| $AXP | American Express Company | 603K | $182M | -166K | 5.0% |
| $TGT | Target Corporation | 1.49M | $181M | -221K | 5.0% |
…and 12 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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