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Built from publicly disclosed institutional and insider activity. Informational purposes only - not investment advice.OpenStocks · v0.1
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  3. Bill Smead (Smead Capital)
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  • Portfolio32
  • Performance40Q
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Asset Manager · CIK 0001427008

Bill Smead

Smead Capital
Share
  • Mid-Size Fund

Bill Smead runs Smead Capital, an asset manager overseeing $4.82B in disclosed equity holdings (SEC CIK 0001427008). The latest portfolio (2025Q4) discloses 32 positions across 8 sectors, with the largest positions in SPG, MRK and AXP. On a mark-to-market basis the tracked portfolio has returned 8.2% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Bill's filingsView holdings↓
Portfolio
$4.82B
Positions
32
Quarter
2025Q4
Filings tracked
40
1Y+8.2%Since filing+145.0%Full performance →
Quarter
2025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1
1-YearTWR
+8.21%
since 2024Q4
3-YearTWR
+46.34%
since 2022Q4
5-YearTWR
+137.28%
since 2020Q4
10-Yearbacktest
+81.35%
since 2016-04-21

Methodology: TWR tiles chain-link quarterly mark-to-market across consecutive filings (GIPS-compliant) · actual tiles use a real 13F snapshot marked to today · backtest tiles re-price the current book to historical prices.

Performance overview

We mark Bill Smead (Smead Capital)'s disclosed portfolio to current market prices and compare its growth against the S&P 500 (SPY). Bill’s portfolio is 8.2% over the last 12 months · 145.0% since 2016Q1.

Portfolio growth vs SPY
Rebased to 100 at 2021Q2 · through 2025Q4
Bill Smead
+78.7%
SPY
+69.5%
Alpha
+9.2pp
771051321601872021Q22023Q32025Q4
Portfolio line is the GIPS-compliant time-weighted return chain-linked across the manager's quarterly 13F filings — unaffected by capital flows. Quarters with insufficient held-through coverage are skipped, which can briefly flatten the line.
Capital flow per quarter
BuysSellsNet
+$1.09B+$547M$0-$547M-$1.09B'22Q1'22Q2'22Q3'22Q4'23Q1'23Q2'23Q3'23Q4'24Q1'24Q2'24Q3'24Q4'25Q1'25Q2'25Q3'25Q4
Latest · 2025Q4
-$355M
Lifetime buys
$4.89B
Lifetime sells
$4.89B
Portfolio over time
AUMPositions
$0$2.31B$4.63B$7.01B3426'22Q1'23Q4'25Q4
QoQ AUM
-6.9%
16Q lifetime AUM
+11.7%
QoQ positions
-2
16Q lifetime positions
+1
Position concentration
32 positions
Top 1
6%
of book
  • Top 16%$410.1MOXY
  • Top 2-523%$1.50BLEN, SPG, MRK
  • Top 6-1025%$1.59BAMGN, DHI, BAC
  • Top 11-2035%$2.23BJPM, APA, DVN
  • Rest11%$673.2MQCOM, CACC, BRK.B