Exploring the Latest Investment Decisions of Smead Value Fund (Trades, Portfolio)

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Smead Value Fund (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2024, shedding light on its strategic investment decisions during this period. Smead Capital Management, the adviser to the Smead Value Fund (Trades, Portfolio), caters to a diverse clientele, including individuals, advisors, family offices, and institutions worldwide. The fund primarily invests in U.S. large-cap companies and offers various share classes, such as SMVLX, SVFAX, SVFCX, SVFFX, SVFDX, SVFKX, and SVFYX. Managed by Lead Portfolio Manager Bill Smead and Co-Portfolio Manager Cole Smead, CFA, the fund aims for long-term capital appreciation through concentrated positions, typically holding 25-30 companies. Smead's investment philosophy focuses on eight criteria, including economic need, competitive advantage, profitability, free cash flow, intrinsic value, shareholder-friendly management, strong balance sheet, and insider ownership.

Summary of New Buy

Smead Value Fund (Trades, Portfolio) added a total of two stocks, with the most significant addition being Ulta Beauty Inc (NASDAQ:ULTA). The fund acquired 179,719 shares, which now account for 1.15% of the portfolio, with a total value of $69,486,550 million. The second largest addition was Sirius XM Holdings Inc (NASDAQ:SIRI), consisting of 2,356,082 shares, representing approximately 1.05% of the portfolio, with a total value of $63,496,410.

Key Position Increases

Smead Value Fund (Trades, Portfolio) also increased its stakes in a total of five stocks. The most notable increase was in APA Corp (NASDAQ:APA), with an additional 2,782,783 shares, bringing the total to 11,147,645 shares. This adjustment represents a significant 33.27% increase in share count, a 1.04% impact on the current portfolio, with a total value of $252,494,160. The second largest increase was in Target Corp (NYSE:TGT), with an additional 238,249 shares, bringing the total to 1,307,996. This adjustment represents a significant 22.27% increase in share count, with a total value of $173,060,950.

Key Position Reduces

Smead Value Fund (Trades, Portfolio) reduced its position in 22 stocks, with the most significant changes including a reduction in JPMorgan Chase & Co (NYSE:JPM) by 271,752 shares, resulting in a -22.28% decrease in shares and a -1.02% impact on the portfolio. The stock traded at an average price of $223.26 during the quarter and has returned 19.43% over the past three months and 10.76% year-to-date. Additionally, the fund reduced its position in American Express Co (NYSE:AXP) by 230,520 shares, resulting in a -16.35% reduction in shares and a -0.99% impact on the portfolio. The stock traded at an average price of $274.44 during the quarter and has returned 18.43% over the past three months and 6.68% year-to-date.

Portfolio Overview

As of the fourth quarter of 2024, Smead Value Fund (Trades, Portfolio)'s portfolio included 29 stocks. The top holdings comprised 6.8% in Simon Property Group Inc (NYSE:SPG), 6.57% in Lennar Corp (NYSE:LEN), 6.12% in Macerich Co (NYSE:MAC), 6% in D.R. Horton Inc (NYSE:DHI), and 5.93% in American Express Co (NYSE:AXP). The holdings are primarily concentrated in nine of the eleven industries: Consumer Cyclical, Energy, Financial Services, Real Estate, Healthcare, Consumer Defensive, Industrials, Technology, and Communication Services.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.