WhaleCreep

Smead Capital Management 13F holdings, Q2 2011

Long-only investorSEC filingsCompare with another fundHoldings as of 2011-06-30, filed 2011-08-09

Smead Capital Management disclosed 26 US equity positions worth $151.2m in its Q2 2011 13F filing. Its largest position is Smead Value Fd Inst Cl at 22.3% of the reported book, followed by SBUX and EBAY. Versus Q1 2011 it opened 4 new positions, added to 9, reduced 13 and exited 3.

$151m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
26
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
22.3%
Largest position
The largest single position as a share of the reported equity book.
64.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
13
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
75
Quarters on file since Q4 2007
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q1 2011: 4 new, 9 added, 13 reduced, 3 exited

26 rows
Smead Value Fd Inst Cl no ticker–22.3%$33.7m1.53m–new
SBUX STARBUCKS CORPConsumer Cyclical6.8%$10.2m258,523−6.8%reduced
EBAY EBAY INC.Consumer Cyclical5.9%$8.9m276,963−0.6%reduced
DIS DISNEY WALT COCommunication Services4.8%$7.2m184,434−1.3%reduced
ACCENTURE PLC IRELAND no ticker–4.7%$7.1m117,187–new
BEN FRANKLIN RESOURCES INCFinancial Services4.5%$6.8m52,123−12%reduced
JWNUSD NORDSTROM INC–4.2%$6.3m133,890−1.2%reduced
WALGREEN CO no ticker–3.9%$6.0m140,248−13%reduced
PFE PFIZER INCHealthcare3.9%$5.9m285,532+8.4%added
HD HOME DEPOT INCConsumer Cyclical3.9%$5.9m161,559−1.1%reduced
WFC WELLS FARGO & COFinancial Services3.7%$5.7m201,967+8.6%added
BMY BRISTOL-MYERS SQUIBB COHealthcare3.3%$5.0m172,439+8.7%added
WMT WALMART INCConsumer Defensive3.0%$4.6m86,729−13%reduced
MCD MCDONALDS CORPConsumer Cyclical3.0%$4.6m54,565−1.8%reduced
CABELAS INC no ticker–3.0%$4.6m167,793+1.0%added
JNJ JOHNSON & JOHNSONHealthcare2.9%$4.3m64,898−1.2%reduced
MDT MEDTRONIC INCHealthcare2.8%$4.2m109,493+18%added
GS GOLDMAN SACHS GROUP INCFinancial Services2.3%$3.5m26,590+13%added
MYLAN INC no ticker–2.2%$3.3m132,368+1.2%added
COMCAST CORP NEW no ticker–2.0%$3.0m124,212−14%reduced
GANNETT INC no ticker–1.8%$2.7m188,182+45%added
HEWLETT PACKARD CO no ticker–1.7%$2.6m70,482+55%added
Smead Value Fd no ticker–1.5%$2.3m104,099–new
VZ VERIZON COMMUNICATIONS INCCommunication Services0.9%$1.3m35,224−5.7%reduced
MSFT MICROSOFT CORPTechnology0.8%$1.3m49,365−72%reduced
Oakmark Intl Fd no ticker–0.2%$303k14–new

Exited since Q1 2011

3 rows
Accenture Ltd no ticker6.1%$7.3m
LMEUR LEGG MASON INC1.7%$2.0m
CVX CHEVRON CORPORATION1.3%$1.6m

Sector mix

  • Unclassified47.5%
  • Consumer Cyclical19.6%
  • Healthcare12.8%
  • Financial Services10.6%
  • Communication Services5.6%
  • Consumer Defensive3.0%
  • Technology0.8%

Book over time

Every quarter on file (75)
QuarterPositionsEquity book
Q3 202631$4.7bn
Q2 202632$4.7bn
Q1 202632$4.6bn
Q4 202532$4.8bn
Q3 202534$5.2bn
Q2 202533$5.0bn
Q1 202534$5.8bn
Q4 202434$6.5bn
Q3 202430$7.0bn
Q2 202432$6.4bn
Q1 202432$6.4bn
Q4 202333$5.6bn
Q3 202330$4.9bn
Q2 202328$5.0bn
Q1 202329$5.0bn
Q4 202226$4.7bn
Q3 202227$3.8bn
Q2 202231$3.9bn
Q1 202231$4.3bn
Q4 202132$3.8bn
Q3 202131$2.9bn
Q2 202135$2.9bn
Q1 202135$2.3bn
Q4 202032$1.7bn
Q3 202029$1.6bn
Q2 202031$1.6bn
Q1 202028$1.4bn
Q4 201928$2.2bn
Q3 201926$2.0bn
Q2 201928$2.1bn
Q1 201927$2.0bn
Q4 201828$1.9bn
Q3 201827$2.2bn
Q2 201827$2.1bn
Q1 201828$2.1bn
Q4 201729$2.2bn
Q3 201729$2.1bn
Q2 201728$2.1bn
Q1 201727$2.0bn
Q4 201630$2.0bn
Q3 201629$2.1bn
Q2 201627$2.1bn
Q1 201627$2.3bn
Q4 201527$2.2bn
Q3 201527$1.9bn
Q2 201530$1.5bn
Q1 201530$1.4bn
Q4 201429$1.1bn
Q3 201430$927m
Q2 201430$918m
Q1 201428$830m
Q4 201329$726m
Q3 201329$617m
Q2 201328$494m
Q1 201320$251m
Q4 201222$193m
Q3 201221$172m
Q2 201222$163m
Q1 201222$166m
Q4 201123$148m
Q3 201124$130m
Q2 201126$151m
Q1 201125$120m
Q4 201025$113m
Q2 201029$98.0m
Q1 201026$114m
Q4 200927$138m
Q3 200927$128m
Q2 200929$95.5m
Q1 200927$83.0m
Q4 200831$102m
Q3 200825$129m
Q2 200823$136m
Q1 200826$1.7bn
Q4 200723$165m

Where Smead Capital Management was early

34 rows
SLM SLM CORPQ2 20085 of 1220.2%1.2%5Exited by Q2 2015+34%
GE General Electric CompanyQ2 20086 of 2423.5%3.7%3Exited by Q1 2009−39%
JPM JPMORGAN CHASE & COQ2 20088 of 2312.8%6.4%60Still holding+864%
BEN FRANKLIN RES INCQ3 20083 of 1173.1%6.3%27Exited by Q3 2015+67%
MCD MCDONALDS CORPQ4 20083 of 1920.3%3.8%24Exited by Q1 2015+51%
GS Goldman Sachs Group Inc EQ4 20086 of 2290.8%3.5%14Exited by Q3 2012+14%
WFC WELLS FARGO CO NEWQ4 20087 of 2121.6%5.6%45Exited by Q4 2020−20%
PCAR Paccar IncQ1 20092 of 1241.4%3.9%6Exited by Q4 2010+55%
BMY Bristol-Myers Squibb CoQ2 20097 of 1973.1%4.5%18Exited by Q1 2014+162%
JNJ JOHNSON & JOHNSONQ2 20106 of 1693.9%3.9%36Exited by Q3 2019+136%
MDT MEDTRONIC INCQ1 20113 of 1733.0%3.3%16Exited by Q1 2015+83%
ABBV ABBVIE INCQ1 20131 of 2012.7%2.7%10Exited by Q3 2015+65%
MRK MERCK & CO INCQ2 20135 of 1953.7%7.1%54Still holding+228%
NVR NVR INCQ4 20135 of 1452.1%8.0%52Still holding+500%
CB CHUBB CORPQ1 20147 of 1612.1%2.2%6Exited by Q3 2015+2.6%
NAVI NAVIENT CORPQ2 20143 of 1161.4%2.0%5Exited by Q3 2015+2.8%
WBA WALGREENS BOOTS ALLIANCE INCQ4 20148 of 2063.6%5.5%23Exited by Q3 2021−31%
NWSA NEWS CORP NEWQ1 20155 of 1402.0%3.7%7Exited by Q4 2016−13%
TGNA TEGNA INCQ2 20151 of 1476.4%6.4%15Exited by Q1 2019−66%
AFL AFLAC INCQ3 20153 of 1194.4%5.4%16Exited by Q1 2020+82%
PYPL PAYPAL HLDGS INCQ3 201512 of 3223.5%5.1%20Exited by Q3 2020+461%
BRK/B BERKSHIRE HATHAWAY INC DELQ3 201516 of 1805.1%6.3%37Exited by Q2 2025+308%
AMGN AMGEN INCQ3 201517 of 1665.7%7.6%43Still holding+205%
AXP AMERICAN EXPRESS COQ3 201518 of 1945.1%6.6%43Still holding+310%
ALK ALASKA AIR GROUP INCQ3 20166 of 1401.1%2.1%7Exited by Q2 2018−5.9%
LEN LENNAR CORPQ3 201619 of 1991.0%7.5%41Still holding+102%
COR AMERISOURCEBERGEN CORPQ4 201616 of 1581.0%2.2%11Exited by Q3 2019+9.0%
CARS CARS COM INCQ2 20178 of 1251.5%1.5%2Exited by Q4 2017−0.1%
KR KROGER COQ3 201714 of 1600.9%3.1%7Exited by Q2 2019+23%
CMI CUMMINS INCQ1 201914 of 1551.1%1.1%4Exited by Q1 2020+13%
OXY OCCIDENTAL PETE CORPQ2 201914 of 1922.0%9.2%24Still holding+10%
OGN ORGANON & COQ2 20215 of 1470.2%1.1%5Exited by Q3 2022+12%
WBD WARNER BROS DISCOVERY INCQ2 202210 of 2333.0%3.7%9Exited by Q3 2024−45%
UHAL/B U HAUL HOLDING COMPANYQ4 20225 of 772.4%3.1%16Still holding−3.9%

Concentration and tenure

7.4%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
55.7%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
5
Median completed holding, quarters