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People

Bill Smead

Founder, chairman and chief investment officer, Smead Capital Management

Biography

Bill Smead graduated in economics from Whitman College and began his career at Drexel Burnham Lambert in 1980. He founded Smead Capital Management in 2007, created its investment discipline and is lead portfolio manager of the Smead Value Fund, making the final decisions on the firm's US portfolios. The fund holds a small number of high-quality companies bought at what the firm judges to be bargain prices.

Profiles

Smead Capital Management’s largest US holdings

From the Q3 2026 13F, worth $4.7bn in total. See every holding and change

  1. Cenovus EnergyCVE9.0%
  2. Merck & Co.MRK7.1%
  3. APAAPA6.8%
  4. MacerichMAC5.4%
  5. Simon Property GroupSPG5.3%
  6. AmgenAMGN5.3%
  7. ConocoPhillipsCOP4.2%
  8. TargetTGT4.1%
  9. D.R. HortonDHI4.1%
  10. LennarLEN4.0%

Also at Smead Capital Management

Sources: smeadcap.com. Checked October 2026.