Insight into Smead Value Fund (Trades, Portfolio)'s Latest Investment Moves and Strategic Positioning
Smead Value Fund (Trades, Portfolio), managed by Smead Capital Management, is known for its disciplined investment approach focusing on U.S. large-cap companies. The fund aims for long-term capital appreciation by holding a concentrated portfolio of 25-30 companies that meet stringent criteria including economic necessity, competitive advantages, and strong financial health. The fund is popular among individual investors, advisors, and institutions, offering various share classes such as SMVLX, SVFAX, and SVFCX.
Summary of New Buys
Smead Value Fund (Trades, Portfolio) expanded its portfolio by adding new stocks in the second quarter of 2024. Notably, the fund initiated a significant position in Cenovus Energy Inc (TSX:CVE, Financial), purchasing 8,902,595 shares. This new investment now constitutes 3.21% of the portfolio, with a total value of C$185.57 million.
Key Position Increases
The fund also strategically increased its holdings in several key stocks during this period:
- Devon Energy Corp (DVN, Financial) saw an addition of 1,497,606 shares, bringing the total to 4,944,009 shares. This represents a substantial 43.45% increase in shares, impacting the portfolio by 1.27%, with a total value of $242,651,960.
- APA Corp (APA, Financial) also experienced a significant boost with an additional 2,304,653 shares, totaling 8,131,322 shares. This adjustment marks a 39.55% increase in share count, valued at $248,249,260.
Key Position Reductions
Conversely, Smead Value Fund (Trades, Portfolio) reduced its stakes in several companies:
- NVR Inc (NVR, Financial) was reduced by 5,171 shares, a 14.52% decrease, impacting the portfolio by -0.76%. The stock traded at an average price of $7,699.20 during the quarter.
- D.R. Horton Inc (DHI, Financial) saw a reduction of 233,064 shares, a 9.92% decrease, affecting the portfolio by -0.67%. The stock's average trading price was $151.01 during the quarter.
Portfolio Overview
As of the second quarter of 2024, Smead Value Fund (Trades, Portfolio)'s portfolio comprised 28 stocks. The top holdings included 6.71% in American Express Co (AXP, Financial), 6.21% in Lennar Corp (LEN, Financial), and 6.09% in Occidental Petroleum Corp (OXY, Financial). The fund's investments are primarily concentrated in nine industries, including Energy, Financial Services, and Healthcare, reflecting a diverse yet focused investment strategy.
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.
