Insight into Smead Value Fund (Trades, Portfolio)'s Latest Investment Decisions

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Smead Value Fund (Trades, Portfolio) recently submitted its N-PORT filing for the first quarter of 2025, 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, including Investor Share Class (SMVLX) and A Share Class (SVFAX), among others. 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, and shareholder-friendly management.

Summary of New Buy

Smead Value Fund (Trades, Portfolio) added a total of one stock to its portfolio this quarter:

• The most significant addition was Millrose Properties Inc (NYSE:MRP), with 1,081,478 shares, accounting for 0.46% of the portfolio and a total value of $24.72 million.

Key Position Increases

Smead Value Fund (Trades, Portfolio) also increased its stakes in one stock:

• The most notable increase was in Merck & Co Inc (NYSE:MRK), with an additional 139,193 shares, bringing the total to 3,034,166 shares. This adjustment represents a significant 4.81% increase in share count, a 0.24% impact on the current portfolio, with a total value of $279.90 million.

Key Position Reduces

Smead Value Fund (Trades, Portfolio) reduced its position in 27 stocks. The most significant changes include:

• Reduced Simon Property Group Inc (NYSE:SPG) by 117,876 shares, resulting in a -5.25% decrease in shares and a -0.36% impact on the portfolio. The stock traded at an average price of $177.83 during the quarter and has returned -8.62% over the past 3 months and -6.81% year-to-date.
• Reduced Lennar Corp (NYSE:LEN) by 119,929 shares, resulting in a -5.25% reduction in shares and a -0.35% impact on the portfolio. The stock traded at an average price of $131.81 during the quarter and has returned -19.83% over the past 3 months and -13.61% year-to-date.

Portfolio Overview

As of the first quarter of 2025, Smead Value Fund (Trades, Portfolio)'s portfolio included 30 stocks. The top holdings were 7.41% in Simon Property Group Inc (NYSE:SPG), 6.3% in American Express Co (NYSE:AXP), 5.6% in Macerich Co (NYSE:MAC), 5.49% in Amgen Inc (NASDAQ:AMGN), and 5.24% in Merck & Co Inc (NYSE:MRK).

The holdings are mainly concentrated in 9 of the 11 industries: Financial Services, Energy, Consumer Cyclical, 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.