Smead International Value Fund Class A Shares · NASDAQ:SVXAX
Smead International Value Fund Class A Shares — Smead Capital Management — Investor Presentation (September 2021)
15 slides from Smead International Value Fund Class A Shares's investor presentation, Sep 30, 2021
Slide 1: Smead Capital Appreciation Strategy
©2021 Smead Capital Management, All Rights Reserved FOR INSTITUTIONAL INVESTOR USE ONLY ©2021 Smead Capital Management, All Rights Reserved Smead Capital Appreciation Strategy U.S. Large Cap Equity As of September 30, 2021 www.smeadcap.com Opinions expressed are those of Smead Capital Management, ar
Slide 2: Smead Capital Appreciation Strategy
FOR INSTITUTIONAL INVESTOR USE ONLY ©2021 Smead Capital Management, All Rights Reserved Smead Capital Appreciation Strategy U.S. Large Cap Equity As of September 30, 2021 www.smeadcap.com Opinions expressed are those of Smead Capital Management, are subject to change, are not guaranteed, and should
Slide 3: Who we are
We advise investors that fear stock market failure through a low-turnover, differentiated value discipline seeking wonderful companies to build wealth. Who we are At Smead Capital Management, we’re stock market investors. Our investors are individuals, advisors, family offices and institutions globa
Slide 4: Investment Team
Investment Team Chief Investment Officer Whitman College, B.A. Economics William is the founder of Smead Capital Management, where he oversees the firm. As Chief Investment Officer he is responsible for all investment and portfolio decisions and reviewing the implementation of those decisions. Prior
Slide 5: Our Eight Criteria
OUR EIGHT CRITERIA We advise Required over entire holding period investors • Meets an economic need • Strong competitive advantage (wide moats or barriers to entry) • Long history of profitability and strong operating metrics • Generates high levels of free cash flow • Available at a low price in re
Slide 6: Portfolio Traits and Sell Discipline
PORTFOLIO SELL TRAITS DISCIPLINE We advise • Generally U.S. domiciled Risk Management investors • Typically 25-30 securities • Successful investments likely to be trimmed if weighting becomes • Typically 40-50% of portfolio in top outsized (in the 8-10% range) ten holdings Change in Thesis • Portfol
Slide 7: Portfolio Holdings
Portfolio Holdings As of September 30, 2021 Ticker Weighting % S&P GICS Sector Continental Resources Inc CLR 8.53 Energy American Express Co AXP 5.97 Financials Target Corp TGT 5.81 Consumer Discretionary Lennar Corp LEN 5.20 Consumer Discretionary NVR Inc NVR 4.91 Consumer Discretionary Simon Prope
Slide 8: Sector Weighting and Asset Allocation
Sector Weighting and Asset Allocation As of September 30, 2021 Sector Weightings Asset Allocation 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Utilities Information Energy Financials Materials Consumer Discretionary Healthcare Estate Communication Industrials Technology Real Consumer Staples Basic Serv
Slide 9: Trailing Returns (%)
Trailing Returns (%) As of September 30, 2021 60% 49.13 48.06 50% 40% 35.01 32.26 31.56 30.01 30% 20% 16.90 18.3317.38 16.14 15.92 16.10 15.12 15.99 17.13 16.08 16.63 13.51 12.54 11.72 11.31 10.94 10.07 10% 8.40 0.76 0.57 0.58 0% Q3 2021 YTD 1 Year 3 Year 5 Year 10 Year Since Inception -0.78 (3/1/20
Slide 10: Attribution Analysis – Selection Effects
Attribution Analysis – Selection Effects Recent Quarter 7/1/2021 to 9/30/2021 Past performance is no guarantee of future results. The returns listed above are annualized and gross of fees. The quarter end holdings of the Capital Appreciation Strategy’s representative account were provided to Morning
Slide 11: Attribution vs. Russell 1000 Value (3 Year)
Attribution vs. Russell 1000 Value (3 Year) Attribution Analysis 10/1/2018 to 9/30/2021 Portfolio Benchmark Portfolio Benchmark Rescaled Rescaled Portfolio Benchmark Portfolio Benchmark Allocation Selection Active Weights Weights Weights Weights Return Return Contribution Contribution Effect Effect
Slide 12: Attribution vs. Russell 1000 Value (5 Year)
Attribution vs. Russell 1000 Value (5 Year) Attribution Analysis 10/1/2016 to 9/30/2021 Portfolio Benchmark Portfolio Benchmark Rescaled Rescaled Portfolio Benchmark Portfolio Benchmark Allocation Selection Active Weights Weights Weights Weights Return Return Contribution Contribution Effect Effect
Slide 13: Attribution vs. S&P 500 (3 Year)
Attribution vs. S&P 500 (3 Year) Attribution Analysis 10/1/2018 to 9/30/2021 Portfolio Benchmark Portfolio Benchmark Rescaled Rescaled Portfolio Benchmark Portfolio Benchmark Allocation Selection Active Weights Weights Weights Weights Return Return Contribution Contribution Effect Effect Return 12.5
Slide 14: Attribution vs. S&P 500 (5 Year)
Attribution vs. S&P 500 (5 Year) Attribution Analysis 10/1/2016 to 9/30/2021 Portfolio Benchmark Portfolio Benchmark Rescaled Rescaled Portfolio Benchmark Portfolio Benchmark Allocation Selection Active Weights Weights Weights Weights Return Return Contribution Contribution Effect Effect Return 12.3
Slide 15: Capital Appreciation Composite Presentation
Capital Appreciation Composite Presentation Total 3 Year 3 Year Composite Total Firm Standard Standard Assets Assets Total Return Total Return Russell 1000 Internal Deviation Deviation # of Portfolios End of Period End of Period Gross of Fees Net of Fees Value Index Dispersion Composite Benchmark En
Smead Capital Management — Investor Presentation (September 2021) on 6ix