WHAT WE DO

We advise investors that fear stock market failure through a low-turnover, differentiated value discipline seeking wonderful companies to build wealth.

All investors aspire to build wealth in the stock market. Our company understands how frustrating and illogical the stock market can be. We have been involved in stock markets for 40 years and had success despite these shortcomings.

Smead Value Fund

Mutual fund for US investors who would like to invest with Smead Capital Management.

Smead International Value Fund

Mutual fund for US investors who would like to invest with Smead Capital Management.

Smead US Value UCITS Fund

Mutual fund for non-US investors who would like to invest with Smead Capital Management.

OUR ADVICE

Our company advises with a discipline that has proven success over long periods of time.

Same as it Ever Was

[…] Our large-cap value strategy is not the “same as it ever was,” but it looks very attractive relative to the stock-picking disciplines we compete against. We own a portfolio that is cheaper on traditional value metrics in price than the S&P 500 Index (as cheap relatively as almost any point since inception) and most value portfolios. And we show relatively stronger balance sheets and return on equity than most of our competitors. This shows “How do we work this?” We really are very similar by metrics to where we’ve always been. We feel like we have a “large automobile,” a “beautiful house,” and a “beautiful wife.” […]

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Markets Adapt to Your Style

[…] We believe the market has adapted to quality. Even the value players have adapted and most of them have attached quality to their marketing materials. The style has been adapted and we believe the next era won’t reward quality as it has over the recent past. In markets, we believe the winning hand moves around the table just as it does in poker. Luckily Buffett continues to adapt his play lately by selling Apple and buying OXY. The way we see it, the future winning hands look cheaper and more cyclical, but provide attractive returns on capital for the business in his view and in ours.

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Dear Chairman

As the investors of Smead Capital Management know, we focus on the shareholder friendliness of the businesses we analyze because we believe it can differentiate their long-term returns. Warren Buffett has said, “Own a business a five-year-old can run. Just in case one does!” In today’s piece, we would like to share our framework of thinking about capital allocation and shareholder friendliness through an example that we have lost money on so far. […]

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WHO WE HELP

Our investors are individuals, advisors, family offices and institutions globally who invest with the firm through its mutual funds, separate accounts and other investment vehicles.

US INVESTORS

Individual Investors

Financial Advisors, Family Offices,
and Institutional Investors

NON-US INVESTORS

Individual Investors

Financial Advisors, Family Offices,
and Institutional Investors

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