Smead International Value Fund Class A Shares · NASDAQ:SVXAX
Smead International Value Fund Class A Shares — Smead Capital Management — Investor Presentation (September 2018)
10 slides from Smead International Value Fund Class A Shares's investor presentation, Sep 30, 2018
Slide 1: Smead Capital Appreciation Strategy
Smead Capital Appreciation Strategy U.S. Large Cap Equity As of September 30, 2018 www.smeadcap.com © 2018 Smead Capital Management, All Rights Reserved. Opinions expressed are those of Smead Capital Management, are subject to change, are not guaranteed, and should not be considered recommendations
Slide 2: Smead Capital Management Overview
Smead Capital Management Overview “Investing is the only sphere of life where victory, security and success is always to the minority and never to the majority.” -John Maynard Keynes > A contrarian Smead Capital Management is a Seattle-based investment firm that manages a high approach quality, U.S.
Slide 3: Investment Team Bios
Investment Team Bios William Smead – CEO/CIO Whitman College, B.A. Economics 1980 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 decisio
Slide 4: Investment Philosophy and Portfolio Traits
Investment Philosophy and Portfolio Traits Our Investment Philosophy 1. Valuation matters dearly to investment success 2. We are business owners on behalf of our clients and shareholders 3. We seek out high-quality businesses to focus our research Portfolio Traits > Generally U.S. domiciled > Typica
Slide 5: Eight Investment Criteria
Eight Investment Criteria Our portfolio managers evaluate and purchase stocks based on the following Eight Investment Criteria: > Required over entire holding period 1. Meets an economic need 2. Strong competitive advantage (wide moats or barriers to entry) 3. Long history of profitability and stron
Slide 6: Sell Discipline
Sell Discipline Risk Management > Successful investments likely to be trimmed if weighting becomes outsized (in the 8-10% range) Change in Thesis > Company fundamentals violate our Eight Investment Criteria > Maniacal pricing Downside Protection > When a security falls 15-20% from our purchase price
Slide 7: Portfolio Holdings
Portfolio Holdings As of September 30, 2018 Ticker Weighting % S&P GICS Sector Discovery Inc Class A DISCA 7.21 Communication Services Amgen Inc AMGN 6.47 Health Care Target Corp TGT 5.84 Consumer Discretionary Berkshire Hathaway Inc B BRK.B 5.82 Financials American Express Co AXP 5.62 Financials Wa
Slide 8: Sector Weighting and Asset Allocation
Sector Weighting and Asset Allocation As of September 30, 2018 Sector Weightings Asset Allocation 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Stock 97.0% Cash 3.0% Real Estate Financials Healthcare Information Discretionary Energy Utilities Communication Industrials Consumer Materials Technology Stapl
Slide 9: Trailing Returns (%)
Trailing Returns (%) As of September 30, 2018 20% 17.91 18% 17.31 15.61 16% 14.48 14.06 13.55 13.95 13.87 14% 13.08 12.85 13.05 11.95 11.97 11.55 12% 10.78 10.56 10.72 9.79 10.02 10% 9.45 7.96 7.70 7.71 7.94 8% 6.72 5.70 5.97 6% 3.92 4% 2% 0% Q3 2018 YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Slide 10: Capital Appreciation Composite Presentation
Capital Appreciation Composite Presentation Total 3 Year 3 Year Composite Total Firm Total Return Standard Standard # of Assets Assets Gross of Total Return Russell 1000 Internal Deviation Deviation Portfolios End of Period End of Period Year Fees Net of Fees Value Index Dispersion Composite Benchma
Smead Capital Management — Investor Presentation (September 2018) on 6ix