Yahoo Finance APA Corp Leads Smead Value Fund's Q1 2024 Portfolio Adjustments with 0.68% Impact
Insights into Smead Value Fund (Trades, Portfolio)'s Latest Investment Moves and Stock Positions
Smead Value Fund (Trades, Portfolio), managed by Smead Capital Management, has disclosed its N-PORT filing for the first quarter of 2024, revealing strategic investment decisions. The Fund, steered by Lead Portfolio Manager Bill Smead alongside Co-Portfolio Managers Tony Scherrer, CFA, and Cole Smead, CFA, targets long-term capital appreciation by investing in U.S. large-cap companies. It operates with a concentrated portfolio approach, holding approximately 25-30 stocks, and adheres to a stringent investment criteria that emphasizes economic need, competitive advantage, profitability, free cash flow, intrinsic value, shareholder-friendly management, robust balance sheets, and strong insider ownership.
Key Position Increases
Smead Value Fund (Trades, Portfolio) has bolstered its positions in a total of 27 stocks during the quarter. Noteworthy increases include:
APA Corp (NASDAQ:APA) saw the addition of 1,181,875 shares, bringing the total to 5,826,669 shares. This move marks a substantial 25.45% increase in share count and a 0.68% impact on the current portfolio, with a total value of $173,576,470.
Lennar Corp (NYSE:LEN) experienced an increase of 44,794 shares, resulting in a total of 2,447,164 shares. This adjustment reflects a 1.86% increase in share count, with a total value of $387,899,970.
Portfolio Overview
As of the first quarter of 2024, Smead Value Fund (Trades, Portfolio)'s portfolio encompasses 27 stocks. The top holdings are notably concentrated in 7.46% in Lennar Corp (NYSE:LEN), 6.75% in D.R. Horton Inc (NYSE:DHI), 6.45% in Merck & Co Inc (NYSE:MRK), 6.43% in American Express Co (NYSE:AXP), and 6.19% in Occidental Petroleum Corp (NYSE:OXY). The Fund's investments are primarily distributed across nine industries, including Consumer Cyclical, Financial Services, Energy, Real Estate, Healthcare, Industrials, Consumer Defensive, Technology, and Communication Services, showcasing a diversified yet focused approach to sector allocation.
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