The Smead Value Fund is managed by an experienced team led by founder William W. Smead, who brings over 38 years of investment industry experience and serves as Chairman and Chief Investment Officer with responsibility for all investment and portfolio decisions. Cole W. Smead, CFA, serves as CEO and Portfolio Manager, joining the firm at inception in 2007 and becoming Portfolio Manager in 2014, overseeing firm activities and serving as final decision maker for international equity portfolios. Tony Scherrer, CFA, serves as Director of Research and Portfolio Manager, bringing over 18 years of professional investment experience with 14 years in portfolio management, having joined the firm in 2008. The management team maintains a concentrated approach with low portfolio turnover of 13%, demonstrating commitment to long-term value creation. Founded in July 2007, Smead Capital Management has grown from managing $1.28 billion in 2020 to approximately $7.17 billion in total assets under management as of December 2024.

Read More

Smead Capital Management employs a disciplined value investing approach centered on three core principles: 'Valuation matters dearly,' 'We are business owners on behalf of our clients,' and 'We seek out high-quality businesses.' The firm utilizes eight specific investment criteria, five of which are required throughout the entire holding period: meeting an economic need, possessing strong competitive advantages with wide moats or barriers to entry, demonstrating a long history of profitability with strong operating metrics, generating high levels of free cash flow, and being available at a low price relative to intrinsic value. Three additional favored criteria include shareholder-friendly management, strong balance sheets, and insider ownership. The fund maintains a concentrated portfolio of typically 25-30 companies, reflecting high conviction in selected investments and a long-term buy-and-hold approach focused on business ownership rather than trading.

Read More