# EDGAR Filing Document

**Accession Number:** 0001614370
**File Stem:** 0001145549-25-047161
**Filing Date:** 2025-7
**Character Count:** 15474
**Document Hash:** 350b6922ecb6f54424c15b745ce23e81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-047161.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001145549-25-047161

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Smead Funds Trust
- **CENTRAL INDEX KEY:** 0001614370

**ORGANIZATION NAME:**
- **EIN:** 261547587
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22985
- **FILM NUMBER:** 251142338

**BUSINESS ADDRESS:**
- **STREET 1:** 2502 EAST CAMELBACK ROAD, SUITE 210
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85016
- **BUSINESS PHONE:** 602-889-3660

**MAIL ADDRESS:**
- **STREET 1:** 2502 EAST CAMELBACK ROAD, SUITE 210
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85016

## Series and Classes Contracts Data

### Smead Value Fund (Series ID: S000047006)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000146928 | Investor Class Shares | SMVLX           |
| C000146929 | Class C Shares        | SVFCX           |
| C000146930 | Class A Shares        | SVFAX           |
| C000146931 | Class I1 Shares       | SVFFX           |
| C000146932 | Class I2 Shares       | SVFIX           |
| C000146933 | Class R1 Shares       | SVFDX           |
| C000146934 | Class R2 Shares       | SVFKX           |
| C000146935 | Class R3 Shares       | SVFRX           |
| C000146936 | Class R4 Shares       | SVFLX           |
| C000146937 | Class Y Shares        | SVFYX           |
| C000198929 | Class I3 Shares       | SVFMX           |
| C000198930 | Class S Shares        | SVFSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Smead Funds Trust

- **b. Investment Company Act file number:** 811-22985

- **c. CIK number of Registrant:** 0001614370

- **d. LEI of Registrant:** 549300OM716F7C5UE104

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2502 East Camelback Road

  - **City:** Phoenix

  - **State:** AZ

  - **Foreign country:** US

  - **Zip / Postal Code:** 85016

  - **Telephone number:** 877-807-4122

**Item A.2. Information about the Series.**

- **a. Name of Series:** Smead Value Fund

- **b. EDGAR series identifier (if any):** S000047006

- **c. LEI of Series:** 549300OM716F7C5UE104

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $4461260515.95

**Total Liabilities:** $8366440.23

**Net Assets:** $4452894075.72

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146928 | -2.93%               | -8.43%               | 2.71%                |
| Class ID C000146929 | -2.98%               | -8.48%               | 2.66%                |
| Class ID C000146930 | -2.92%               | -8.45%               | 2.72%                |
| Class ID C000146931 | -2.90%               | -8.42%               | 2.74%                |
| Class ID C000146933 | -2.95%               | -8.46%               | 2.68%                |
| Class ID C000146934 | -2.94%               | -8.46%               | 2.71%                |
| Class ID C000146937 | -2.89%               | -8.40%               | 2.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7709827.28             | $-172465935.72                             |
| Month 2  | $-99071755.53            | $-347027838.59                             |
| Month 3  | $3809212.52              | $113749884.26                              |

### Schedule of Portfolio Investments

| Name                                      | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| APA Corp.                                 | APA Corp. COM                                         | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |   9790965 | NS      | $166544314.65 | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds              | Northern Institutional Funds TREAS PRT PRMR           | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        | 277297127 | NS      | $277297126.93 | 6.23%             |  |  |  | No            |                  2 | On Loan: No      |
| SiriusXM Holdings Inc                     | SiriusXM Holdings Inc COMMON STOCK                    | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1932030 | NS      | $41886410.40  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                | Occidental Petroleum Corp. COM USD0.20                | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |   3574702 | NS      | $145776347.56 | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                               | Ovintiv Inc COM                                       | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |   3894873 | NS      | $139514350.86 | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                        | U-Haul Holding Co. COM SER N                          | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |   2092923 | NS      | $119380327.92 | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc.                  | Millrose Properties Inc. COM CL A                     | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    936004 | NS      | $26086431.48  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                    | Diamondback Energy Inc COM USD0.01                    | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    940548 | NS      | $126550733.40 | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                | Amgen Inc. COM USD0.0001                              | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |    823579 | NS      | $237338996.22 | 5.33%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                  | American Express Company COM USD0.20                  | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |    789547 | NS      | $232166295.35 | 5.21%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                        | U-Haul Holding Co. COM USD0.25                        | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     39515 | NS      | $2528960.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corporation                  | Devon Energy Corporation COM USD0.10                  | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |   2142892 | NS      | $64843911.92  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                      | JPMorgan Chase & Co. COM USD1.00                      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    578330 | NS      | $152679120.00 | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Acceptance Corporation of Michigan | Credit Acceptance Corporation of Michigan COM USD0.01 | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    193509 | NS      | $92361845.70  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                         | D.R. Horton, Inc. COM USD0.01                         | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |   1766626 | NS      | $208567865.56 | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                              | Target Corp. COM STK USD0.0833                        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |   1290109 | NS      | $121283147.09 | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                                 | eBay Inc. COM USD0.001                                | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |   2616602 | NS      | $191456768.34 | 4.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                     | Bank of America Corp. COM USD0.01                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   3256484 | NS      | $143708638.92 | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                       | Fifth Third Bancorp COM NPV                           | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |   1561752 | NS      | $59643308.88  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                      | M&T Bank Corporation COM USD0.50                      | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |    346760 | NS      | $63332246.40  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                           | Home Depot Inc. COM USD0.05                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    362524 | NS      | $133513963.96 | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                              | Lennar Corp. COM USD0.10 CLASS A                      | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |   1872007 | NS      | $198582502.56 | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| The Macerich Company                      | The Macerich Company COM USD0.01                      | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |  14342962 | NS      | $232069125.16 | 5.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                   | NVR Inc COM USD0.01                                   | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |     25421 | NS      | $180894056.53 | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                             | QUALCOMM Inc. COM USD0.0001                           | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    644123 | NS      | $93526659.60  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                            | ConocoPhillips COM USD0.01                            | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   1684614 | NS      | $143781804.90 | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                  | Simon Property Group Inc COM USD0.0001                | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |   1839958 | NS      | $300041951.06 | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                          | Merck & Co., Inc COM USD0.50                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |   2626027 | NS      | $201783914.68 | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                  | Western Alliance Bancorp COM USD0.0001                | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |   1280986 | NS      | $92756196.26  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                        | Cenovus Energy Inc COM NPV                            | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |  14595036 | NS      | $192282035.11 | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                           | Ulta Beauty Inc COM STK USD0.01                       | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |    147373 | NS      | $69480474.58  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-18

**Name of Applicant:** Smead Funds Trust

**Signature:** Steven LeMire

**Name of Signer:** Steven LeMire

**Title:** CCO