2026 Q1 Portfolio Activity
In 2026 Q1, Smead Capital Management, Inc. maintained a portfolio of 32 distinct positions. They heavily accumulated shares in CREDIT ACCEP CORP MICH, increasing the position by 11.8%. The fund also reduced its exposure to AMERICAN EXPRESS CO by 21.6%.
Position History
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Total Positions
32
Quarter
2026 Q1
Top Holding
CVE (8.6%)
Top 10 Concentration
57.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-32 of 32
Smead Capital Management, Inc. Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
CVE
CENOVUS ENERGY ...
|
Energy | 8.58% | 5.89% |
#1
3
Prev: #4
|
5.9 |
—
|
-1,895,975 | -11.3% |
P
S
|
14,868,003 | $394,457,007 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
APA
APA CORPORATION
|
Energy | 7.63% | 4.82% |
#2
6
Prev: #8
|
5.1 |
—
|
-1,233,224 | -13.0% |
P
S
|
8,269,815 | $350,970,972 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MRK
MERCK & CO INC
|
Healthcare | 6.47% | 6.20% |
#3
1
Prev: #2
|
4.1 |
—
|
-366,902 | -12.9% |
P
S
|
2,471,398 | $297,284,542 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SPG
SIMON PPTY GROU...
|
Real Estate | 6.33% | 6.88% |
#4
3
Prev: #1
|
3.5 |
—
|
-231,470 | -12.9% |
P
S
|
1,559,860 | $290,960,720 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AMGN
AMGEN INC
|
Healthcare | 5.34% | 5.45% |
#5
Prev: #5
|
3.1 |
—
|
-103,877 | -13.0% |
P
S
|
697,919 | $245,562,970 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MAC
MACERICH CO
|
Real Estate | 5.00% | 5.35% |
#6
Prev: #6
|
2.5 |
—
|
-1,808,473 | -13.0% |
P
S
|
12,155,332 | $229,735,786 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
COP
CONOCOPHILLIPS
|
Energy | 4.80% | 3.72% |
#7
6
Prev: #13
|
2.4 |
—
|
-246,242 | -12.8% |
P
S
|
1,671,303 | $220,612,033 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
FANG
DIAMONDBACK ENE...
|
Energy | 4.60% | 3.83% |
#8
2
Prev: #10
|
2.3 |
—
|
-158,444 | -12.9% |
P
S
|
1,069,328 | $211,502,480 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DHI
D R HORTON INC
|
Consumer Cyclical | 4.47% | 5.14% |
#9
2
Prev: #7
|
2.3 |
—
|
-222,202 | -12.9% |
P
S
|
1,497,723 | $205,517,645 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
OXY
OCCIDENTAL PETE...
|
Energy | 4.38% | 3.03% |
#10
8
Prev: #18
|
2.3 |
—
|
-449,647 | -12.7% |
P
S
|
3,095,535 | $201,209,778 | 2019 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AXP
AMERICAN EXPRES...
|
Financial Services | 3.97% | 5.90% |
#11
8
Prev: #3
|
1.6 |
—
|
-165,788 | -21.6% |
P
S
|
602,643 | $182,287,601 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
TGT
TARGET CORP
|
Consumer Defensive | 3.94% | 3.48% |
#12
4
Prev: #16
|
2.1 |
—
|
-221,262 | -12.9% |
P
S
|
1,492,670 | $180,911,692 | 2017 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
EBAY
EBAY INC.
|
Consumer Cyclical | 3.51% | 3.67% |
#13
1
Prev: #14
|
1.9 |
—
|
-261,392 | -12.9% |
P
S
|
1,771,494 | $161,241,433 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NVR
NVR INC
|
Consumer Cyclical | 3.09% | 3.74% |
#14
2
Prev: #12
|
1.7 |
—
|
-3,207 | -13.0% |
P
S
|
21,538 | $141,935,857 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LEN
LENNAR CORP
|
Consumer Cyclical | 3.00% | 3.89% |
#15
6
Prev: #9
|
1.7 |
—
|
-236,066 | -13.0% |
P
S
|
1,586,225 | $137,747,792 | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BAC
BANK AMERICA CO...
|
Financial Services | 2.93% | 3.62% |
#16
1
Prev: #15
|
1.7 |
—
|
-410,119 | -12.9% |
P
S
|
2,759,684 | $134,534,620 | 2012 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
FITB
FIFTH THIRD BAN...
|
Financial Services | 2.86% | 3.16% |
#17
Prev: #17
|
1.6 |
—
|
-418,716 | -12.9% |
P
S
|
2,831,423 | $131,547,919 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 2.66% | 3.76% |
#18
7
Prev: #11
|
1.1 |
—
|
-146,698 | -26.1% |
P
S
|
416,094 | $122,398,300 | 2008 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
HD
HOME DEPOT INC
|
Consumer Cyclical | 2.20% | 2.52% |
#19
1
Prev: #20
|
1.4 |
—
|
-45,480 | -12.9% |
P
S
|
307,339 | $101,081,029 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WAL
WESTERN ALLIANC...
|
Financial Services | 2.09% | 2.72% |
#20
1
Prev: #19
|
1.3 |
—
|
-201,352 | -12.9% |
P
S
|
1,355,591 | $96,043,660 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
UHAL/B
U HAUL HOLDING ...
|
Industrials | 2.09% | 2.39% |
#21
Prev: #21
|
1.3 |
—
|
-320,586 | -13.0% |
P
S
|
2,146,425 | $95,880,820 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 2.04% | 2.11% |
#22
1
Prev: #23
|
2.8 |
—
|
38,379 | 12.4% |
P
S
|
347,102 | $93,922,449 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CACC
CREDIT ACCEP CO...
|
Financial Services | 1.94% | 1.73% |
#23
2
Prev: #25
|
2.8 |
—
|
22,136 | 11.8% |
P
S
|
210,470 | $89,125,782 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
QCOM
QUALCOMM INC
|
Technology | 1.53% | 2.23% |
#24
2
Prev: #22
|
1.1 |
—
|
-81,127 | -12.9% |
P
S
|
545,810 | $70,289,501 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ULTA
ULTA BEAUTY INC
|
Consumer Cyclical | 1.42% | 1.80% |
#25
1
Prev: #24
|
1.1 |
—
|
-18,582 | -13.0% |
P
S
|
124,895 | $65,284,376 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MTB
M & T BK CORP
|
Financial Services | 1.32% | 1.41% |
#26
Prev: #26
|
1.0 |
—
|
-43,734 | -13.0% |
P
S
|
293,869 | $60,748,738 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CROX
CROCS INC
|
Consumer Cyclical | 0.93% | 1.06% |
#27
Prev: #27
|
0.9 |
—
|
-77,520 | -13.0% |
P
S
|
517,170 | $42,935,525 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
FRO
FRONTLINE PLC
|
Energy | 0.47% | 0.27% |
#28
Prev: #28
|
0.7 |
—
|
23,965 | 4.1% |
P
S
|
610,694 | $21,415,811 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WFG
WEST FRASER TIM...
|
Basic Materials | 0.16% | 0.07% |
#29
1
Prev: #30
|
3.1 |
—
|
60,100 | 109.9% |
P
S
|
114,778 | $7,494,057 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
OXY/WS
OCCIDENTAL PETE...
|
Unknown | 0.14% | 0.06% |
#30
1
Prev: #31
|
0.6 |
—
|
-1,836 | -1.2% |
P
S
|
151,211 | $6,486,952 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
GTX
GARRETT MOTION ...
|
Consumer Cyclical | 0.10% | 0.09% |
#31
2
Prev: #29
|
0.5 |
—
|
10,649 | 4.4% |
P
S
|
254,910 | $4,631,715 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
IWD
ISHARES TR
|
ETF | 0.03% | 0.02% |
#32
Prev: #32
|
2.5 |
—
|
1,872 | 42.6% |
P
S
|
6,264 | $1,338,624 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 |
Showing 1-32 of 32 holdings