Smead Value Fund Class R2
SVFKX
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USD
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Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2777 East Camelback Road, Suite 375 Phoenix AZ United States of America 85016
- IPO Date
- Nov 26, 2014
- CIK
- 0001614370
- Website
- smeadcap.com
- Similar Companies
- Business
- Smead Value Fund Class R2 (SVFKX) is a large-cap value mutual fund that employs a low-turnover, differentiated value investment discipline, targeting 25 to 30 U.S. large capitalization companies meeting eight proprietary criteria including economic need, strong competitive advantage, long history of profitability, high free cash flow generation, and availability at a low price relative to intrinsic value. Advised by Smead Capital Management, Inc., headquartered in Phoenix, Arizona, the fund was incepted on January 2, 2008, with Investor Class shares (SMVLX); the R2 share class (SVFKX), carrying a gross expense ratio of 1.47%, commenced operations on November 24, 2014, and is available to retirement plans and similar investors with a minimum initial investment of $25,000. The fund offers multiple share classes including A (SVFAX), C (SVFCX), I1 (SVFFX), R1 (SVFDX), Y (SVFYX), and Investor (SMVLX), serving individual investors, advisors, family offices, and institutions primarily in the United States; as of September 30, 2025, total net assets across classes exceed $4.4 billion with approximately 28-29 holdings concentrated in sectors such as consumer discretionary (24.52%), energy (23.92%), financials (19.33%), real estate (12.31%), and healthcare (11.91%). Core portfolio holdings as of September 30, 2025, feature leading positions in Simon Property Group Inc. (SPG; 6.71%), D.R. Horton Inc. (DHI; 5.82%), American Express Co. (AXP; 5.10%), Macerich Co. (MAC; 5.08%), Cenovus Energy Inc. (CVE; 4.82%), Merck & Co Inc. (MRK; 4.76%), APA Corp. (APA; 4.62%), Lennar Corp Class A (LEN; 4.59%), Amgen Inc. (AMGN; 4.52%), and NVR Inc. (NVR; 3.97%), reflecting a focus on financially robust companies with shareholder-friendly management, strong balance sheets, and insider ownership. The fund maintains a weighted average market capitalization of approximately $115.1 billion, price/earnings ratio of 13.04x, price/book of 2.08x, and price/cash flow of 8.59x, with an annual dividend payout and recent fiscal year turnover of 13.30%; it is managed by Lead Portfolio Manager Bill Smead, who founded the adviser in 2007 and holds over 45 years of investment experience, alongside Co-Portfolio Manager Cole Smead, CFA. In the third quarter of 2025, the fund executed strategic portfolio adjustments per its N-PORT filing, including new positions in UnitedHealth Group Inc. (UNH; 286,744 shares, 1.99% of portfolio) and Cigna Group (CI; 552,392 shares, 1.08%), alongside significant increases in Diamondback Energy Inc. (FANG; +199,915 shares, +21.26%) and Target Corp. (TGT; +301,811 shares, +23.39%), while fully exiting three unnamed holdings to maintain concentration in 29 stocks. These moves underscore ongoing tactical shifts toward healthcare and consumer sectors amid a focus on intrinsic value opportunities; additionally, Smead Capital Management marked the third anniversary of its related Smead International Value Fund in February 2025, highlighting the firm's expansion in value strategies, though SVFKX remains U.S.-centric. The adviser contractually caps net expense ratios through March 31, 2026 (1.45% for R2), ensuring cost discipline amid total net assets growth.