Smead Capital Management 13F holdings, Q2 2026
Holdings as of June 30, 2026 · filings on SEC EDGAR · this is the latest filing on record
Smead Capital Management disclosed 32 US equity positions worth $4.7bn in its Q2 2026 13F filing. The largest position was CVE at 7.1% of the reported book, followed by SPG and MRK. Against the Q1 2026 filing, it opened 1 new position, added to 7 and reduced 24 among the top 32 holdings.
What did Smead Capital Management own in Q2 2026? Top 32 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2026 |
|---|---|---|---|---|---|---|---|
| 1 | CVE CENOVUS ENERGY INC | Energy | 7.1% | $331.4m | 13,370,631 | -10% | reduced |
| 2 | SPG SIMON PPTY GROUP INC NEW | Real Estate | 6.7% | $313.0m | 1,399,725 | -10% | reduced |
| 3 | MRK MERCK & CO INC | Healthcare | 6.4% | $300.0m | 2,334,468 | -6% | reduced |
| 4 | MAC MACERICH CO | Real Estate | 6.2% | $289.2m | 11,481,712 | -6% | reduced |
| 5 | APA APA CORPORATION | Energy | 5.5% | $254.3m | 7,808,568 | -6% | reduced |
| 6 | AMGN AMGEN INC | Healthcare | 5.1% | $238.7m | 659,241 | -6% | reduced |
| 7 | DHI D R HORTON INC | Consumer Cyclical | 4.9% | $230.3m | 1,414,221 | -6% | reduced |
| 8 | AXP AMERICAN EXPRESS CO | Financial Services | 4.1% | $192.5m | 569,063 | -6% | reduced |
| 9 | NVR NVR INC | Consumer Cyclical | 4.1% | $192.5m | 28,248 | 31% | added |
| 10 | TGT TARGET CORP | Consumer Defensive | 4.0% | $184.2m | 1,409,966 | -6% | reduced |
| 11 | LEN LENNAR CORP | Consumer Cyclical | 3.9% | $182.8m | 2,020,441 | 27% | added |
| 12 | FITB FIFTH THIRD BANCORP | Financial Services | 3.8% | $178.8m | 3,171,824 | 12% | added |
| 13 | FANG DIAMONDBACK ENERGY INC | Energy | 3.8% | $177.5m | 1,009,989 | -6% | reduced |
| 14 | COP CONOCOPHILLIPS | Energy | 3.5% | $164.0m | 1,577,846 | -6% | reduced |
| 15 | BAC BANK OF AMER CORP | Financial Services | 3.2% | $148.5m | 2,606,833 | -6% | reduced |
| 16 | OXY OCCIDENTAL PETE CORP | Energy | 3.0% | $140.4m | 2,889,985 | -7% | reduced |
| 17 | UNH UNITEDHEALTH GROUP INC | Healthcare | 2.9% | $136.5m | 328,414 | -5% | reduced |
| 18 | WAL WESTERN ALLIANCE BANCORP | Financial Services | 2.8% | $131.1m | 1,594,678 | 18% | added |
| 19 | JPM JPMORGAN CHASE & CO | Financial Services | 2.8% | $128.6m | 392,900 | -6% | reduced |
| 20 | CACC CREDIT ACCEP CORP MICH | Financial Services | 2.7% | $126.6m | 198,808 | -6% | reduced |
| 21 | U HAUL HOLDING COMPANY | 2.5% | $117.2m | 2,031,260 | -5% | reduced | |
| 22 | HD HOME DEPOT INC | Consumer Cyclical | 2.2% | $102.3m | 290,159 | -6% | reduced |
| 23 | EBAY EBAY INC. | Consumer Cyclical | 2.0% | $91.2m | 815,923 | -54% | reduced |
| 24 | ZTS ZOETIS INC | Healthcare | 1.9% | $88.6m | 1,233,210 | – | new |
| 25 | MTB M & T BK CORP | Financial Services | 1.4% | $66.1m | 277,594 | -6% | reduced |
| 26 | CROX CROCS INC | Consumer Cyclical | 1.3% | $59.0m | 489,245 | -5% | reduced |
| 27 | ULTA ULTA BEAUTY INC | Consumer Cyclical | 1.1% | $53.2m | 117,976 | -6% | reduced |
| 28 | FRO FRONTLINE PLC | Energy | 0.5% | $22.0m | 633,773 | 4% | added |
| 29 | GTX GARRETT MOTION INC | Consumer Cyclical | 0.2% | $10.0m | 275,064 | 8% | added |
| 30 | WFG WEST FRASER TIMBER CO LTD | Basic Materials | 0.2% | $8.4m | 123,878 | 8% | added |
| 31 | OCCIDENTAL PETE CORP | 0.0% | $1.7m | 65,345 | -57% | reduced | |
| 32 | ISHARES TR | 0.0% | $1.2m | 4,956 | -21% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.