Smead Capital Management
Smead Capital Management reported 31 stocks worth $4.7B in its 13F filing for Q3 2026, filed Oct 16, 2026. Its largest holdings are CVE (9.0%), MRK (7.1%) and APA (6.8%). Compared with Q2 2026, the fund added to CVE, LEN and OXY, trimmed MRK, APA and MAC and sold out of OXY.WS.
Holdings
| # | Stock | Value | Weight | Shares | Change | Shares, 8 qtrs | Held |
|---|---|---|---|---|---|---|---|
| 1 |  CVE Cenovus Energy Inc | $422M | 9.0% | 13.6M | +197K (+1%) | 8 of 8 | |
| 2 |  MRK Merck & Co Inc | $335M | 7.1% | 2.3M | −29K (−1%) | 8 of 8 | |
| 3 |  APA Apa Corporation | $320M | 6.8% | 7.7M | −94K (−1%) | 8 of 8 | |
| 4 |  MAC Macerich Co | $253M | 5.4% | 11.3M | −183K (−2%) | 8 of 8 | |
| 5 |  SPG Simon Ppty Group Inc New | $252M | 5.3% | 1.3M | −145K (−10%) | 8 of 8 | |
| 6 |  AMGN Amgen Inc | $247M | 5.3% | 587K | −73K (−11%) | 8 of 8 | |
| 7 |  COP Conocophillips | $195M | 4.2% | 1.6M | −19K (−1%) | 8 of 8 | |
| 8 |  TGT Target Corp Equity Class Equity | $193M | 4.1% | 1.2M | −177K (−13%) | 8 of 8 | |
| 9 |  DHI D R Horton Inc | $191M | 4.1% | 1.4M | −18K (−1%) | 8 of 8 | |
| 10 |  LEN Lennar Corp | $186M | 4.0% | 2.3M | +264K (+13%) | 8 of 8 |
Positions at Sep 30, 2026, as reported. Change is against the fund's Q2 2026 filing; weight is the share of the fund's reported stocks.
Sold out
held in Q2 2026, gone in Q3 2026| Stock | Value last quarter | Shares sold |
|---|---|---|
 OXY.WS Occidental Pete Corp | $1.7M | 65K |
Reported value
last 8 quartersThe value of the US stocks the fund reported, at quarter end prices. It moves with the market as well as with buying and selling.
Filings for Q3 2026
straight from the SEC| Filed | Form | Quarter | |
|---|---|---|---|
| Oct 16, 2026 | 13F-HR | Q3 2026 | SEC filing ↗ |
Other superinvestors
All hedge fund holdings →Smead Capital Management 13F FAQ
What does Smead Capital Management own?
Smead Capital Management reported 31 stocks worth $4.7B in its 13F filing for Q3 2026, filed Oct 16, 2026. Its largest holdings are CVE (9.0%), MRK (7.1%) and APA (6.8%). The table above lists every position in the filing (the top 10 without an account).
What did Smead Capital Management buy and sell in Q3 2026?
Compared with Q2 2026: 0 new positions, 9 added to, 22 trimmed and 1 sold out. It sold all of OXY.WS.
When will Smead Capital Management file its next 13F?
Holdings as of Dec 31, 2026 are due by Feb 15, 2027. The filing appears on this page within minutes of reaching the SEC.
How much is Smead Capital Management's portfolio worth?
The Q3 2026 filing reports $4.7B in US stocks. That leaves out cash, bonds, short positions and most foreign holdings, so the fund's total assets are usually larger.
For informational and educational purposes only. Not investment advice, and not a recommendation to buy or sell any security. Holdings come from the fund's SEC Form 13F filings as reported and show positions at the end of the quarter, up to 45 days before the filing. The fund may have changed its positions since. A 13F leaves out short positions, cash, bonds and most foreign holdings. See all hedge fund holdings.