SMEAD CAPITAL MANAGEMENT INC
Q2 2025 Form 13-F
PHOENIX, ARIZONA
CIK 0001427008
· CRD 143567
· SEC-registered investment adviser
Holdings reported by
PERSONAL CFO SOLUTIONS LLC since Q3 2023
$5.0B Reported Value Total
SMEAD CAPITAL MANAGEMENT, INC. reports 131 total accounts under management (AUM). There are 46 discretionary accounts valued at $7,012,855,464, and 85 non-discretionary accounts valued at $155,370,454.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
2 funds
· $7.2M gross asset value
Hedge Fund: $7.2M
Source: Form ADV filed 2026-03-30
Reported value
$5.0B
Quarter over quarter
-1.9%
Holdings
33
Top-10 concentration
51.0%
Filing Structure
Reports holdings for
- Alvarez & Marsal Private Wealth Partners LLC · File #028-26320 · Q1 2026 – Q1 2026 · declared by one filing
Holdings reported by
- PERSONAL CFO SOLUTIONS LLC · since Q3 2023 · declared by one filing
- Lodestone Wealth Management LLC · Q4 2022 – Q3 2023 · declared by one filing
Key People
Form ADV owners & control persons
William Wallace Smead
CIO, SHAREHOLDER
Cole W. Smead
CEO, SHAREHOLDER
William Griffith Way
SHAREHOLDER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q2 2025 13F record
Q2 2025 13F filing summary
| Period of report | June 30, 2025 |
|---|---|
| Filed | August 14, 2025 |
| Form | 13F-HR |
| Reported value | $5.0B |
| Positions | 33 |
| Change in reported value | -14.4% |
| New positions | 3 |
| Exited positions | 4 |
| Position turnover | 18.9% |
| Top-10 concentration | 51.0% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Oct 16, 2026
|
31 | $4.7B |
|
Q2 2026 13F
Filed Aug 11, 2026
|
32 | $4.7B |
|
Q1 2026 13F
Filed May 14, 2026
|
32 | $4.6B |
|
Q4 2025 13F
Filed Feb 9, 2026
|
32 | $4.8B |
|
Q3 2025 13F
Filed Nov 10, 2025
|
34 | $5.2B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
33 | $5.0B |
|
Q1 2025 13F
Filed May 14, 2025
|
34 | $5.8B |
|
Q4 2024 13F
Filed Feb 12, 2025
|
34 | $6.5B |
|
Q3 2024 13F
Filed Nov 7, 2024
|
30 | $7.0B |
|
Q2 2024 13F
Filed Aug 9, 2024
|
32 | $6.4B |
|
Q1 2024 13F
Filed May 10, 2024
|
32 | $6.4B |
|
Q4 2023 13F
Filed Jan 31, 2024
|
33 | $5.6B |
|
Q3 2023 13F
Filed Nov 13, 2023
|
30 | $4.9B |
|
Q2 2023 13F
Filed Aug 11, 2023
|
28 | $5.0B |
|
Q1 2023 13F
Filed May 12, 2023
|
29 | $5.0B |
|
Q4 2022 13F
Filed Feb 10, 2023
|
26 | $4.7B |
|
Q3 2022 13F
Filed Nov 10, 2022
|
27 | $3.8B |
|
Q2 2022 13F
Filed Aug 12, 2022
|
31 | $3.9B |
|
Q1 2022 13F
Filed May 13, 2022
|
31 | $4.3B |
|
Q4 2021 13F
Filed Feb 14, 2022
|
32 | $3.8B |
34 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | SPG SIMON PPTY GROUP INC NEW | $331.5M | 6.64% |
| 2 | AXP AMERICAN EXPRESS CO | $282.2M | 5.65% |
| 3 | MAC MACERICH CO | $260.1M | 5.21% |
| 4 | MRK MERCK & CO INC | $258.6M | 5.18% |
| 5 | AMGN AMGEN INC | $257.7M | 5.16% |
| 6 | DHI D R HORTON INC | $255.2M | 5.11% |
| 7 | CVE CENOVUS ENERGY INC | $239.0M | 4.79% |
| 8 | LEN LENNAR CORP | $232.0M | 4.65% |
| 9 | EBAY EBAY INC. | $218.3M | 4.37% |
| 10 | NVR NVR INC | $210.4M | 4.21% |
| 11 | APA APA CORPORATION | $200.1M | 4.01% |
| 12 | TGT TARGET CORP | $194.6M | 3.9% |
| 13 | JPM JPMORGAN CHASE & CO. | $187.9M | 3.76% |
| 14 | BAC BANK AMERICA CORP | $172.7M | 3.46% |
| 15 | OXY OCCIDENTAL PETE CORP | $171.1M | 3.42% |
| 16 | COP CONOCOPHILLIPS | $169.4M | 3.39% |
| 17 | OVV OVINTIV INC | $165.7M | 3.32% |
| 18 | UHALB U HAUL HOLDING COMPANY | $154.5M | 3.09% |
| 19 | HD HOME DEPOT INC | $149.0M | 2.98% |
| 20 | FANG DIAMONDBACK ENERGY INC | $144.8M | 2.9% |
Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.