WhaleCreep

Smead Capital Management 13F holdings, Q3 2011

Long-only investorSEC filingsCompare with another fundHoldings as of 2011-09-30, filed 2011-11-17

Smead Capital Management disclosed 24 US equity positions worth $129.8m in its Q3 2011 13F filing. Its largest position is Smead Value Fd Inst Cl at 22.2% of the reported book, followed by SBUX and EBAY. Versus Q2 2011 it opened 0 new positions, added to 11, reduced 13 and exited 2.

$130m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
24
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
22.2%
Largest position
The largest single position as a share of the reported equity book.
65.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
12
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 Q2 2011: 0 new, 11 added, 13 reduced, 2 exited

24 rows
Smead Value Fd Inst Cl no ticker–22.2%$28.8m1.51m−1.4%reduced
SBUX STARBUCKS CORPConsumer Cyclical7.2%$9.4m251,298−2.8%reduced
EBAY EBAY INC.Consumer Cyclical6.8%$8.8m297,781+7.5%added
JWNUSD NORDSTROM INC–4.7%$6.1m134,628+0.6%added
WALGREEN CO no ticker–4.3%$5.6m169,941+21%added
DIS DISNEY WALT COCommunication Services4.1%$5.3m176,382−4.4%reduced
ACCENTURE PLC IRELAND no ticker–4.1%$5.3m100,155−15%reduced
BMY BRISTOL-MYERS SQUIBB COHealthcare4.0%$5.3m167,315−3.0%reduced
WFC WELLS FARGO & COFinancial Services4.0%$5.2m216,031+7.0%added
HD HOME DEPOT INCConsumer Cyclical3.9%$5.1m154,980−4.1%reduced
CABELAS INC no ticker–3.9%$5.1m247,704+48%added
PFE PFIZER INCHealthcare3.7%$4.8m272,274−4.6%reduced
BEN FRANKLIN RESOURCES INCFinancial Services3.6%$4.6m48,316−7.3%reduced
MCD MCDONALDS CORPConsumer Cyclical3.1%$4.1m46,537−15%reduced
JNJ JOHNSON & JOHNSONHealthcare3.1%$4.1m63,950−1.5%reduced
COMCAST CORP NEW no ticker–2.9%$3.8m183,062+47%added
WMT WALMART INCConsumer Defensive2.9%$3.7m72,059−17%reduced
MDT MEDTRONIC INCHealthcare2.7%$3.6m107,202−2.1%reduced
MYLAN INC no ticker–2.6%$3.3m195,886+48%added
GS GOLDMAN SACHS GROUP INCFinancial Services2.1%$2.7m28,163+5.9%added
GANNETT INC no ticker–2.0%$2.7m278,354+48%added
Smead Value Fd no ticker–1.6%$2.1m111,137+6.8%added
MSFT MICROSOFT CORPTechnology0.2%$244k9,806−80%reduced
Oakmark Intl Fd no ticker–0.2%$241k14,961+106764%added

Exited since Q2 2011

2 rows
HEWLETT PACKARD CO no ticker1.7%$2.6m
VZ VERIZON COMMUNICATIONS INC0.9%$1.3m

Sector mix

  • Unclassified48.5%
  • Consumer Cyclical21.1%
  • Healthcare13.6%
  • Financial Services9.6%
  • Communication Services4.1%
  • Consumer Defensive2.9%
  • Technology0.2%

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