# EDGAR Filing Document

**Accession Number:** 0001614370
**File Stem:** 0002066578-26-000049
**Filing Date:** 2026-1
**Character Count:** 14444
**Document Hash:** d9b8e6a36159528e3e2aecaef8903ce7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-000049.hdr.sgml**: 20260120

**ACCESSION NUMBER**: 0002066578-26-000049

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251128

**FILED AS OF DATE**: 20260120

**DATE AS OF CHANGE**: 20260120

**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:** 26541700

**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:** 2025-11-28

**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:** $4370001638.50

**Total Liabilities:** $6156757.95

**Net Assets:** $4363844880.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146928 | -0.06%               | -3.26%               | 4.38%                |
| Class ID C000146929 | -0.10%               | -3.30%               | 4.32%                |
| Class ID C000146930 | -0.05%               | -3.23%               | 4.37%                |
| Class ID C000146931 | -0.02%               | -3.23%               | 4.40%                |
| Class ID C000146933 | -0.11%               | -3.32%               | 4.34%                |
| Class ID C000146934 | -0.10%               | -3.29%               | 4.35%                |
| Class ID C000146937 | -0.04%               | -3.25%               | 4.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7637639.18              | $-22611900.51                              |
| Month 2  | $-20959942.74            | $-126287087.97                             |
| Month 3  | $5629756.69              | $173444089.29                              |

### 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        |   8265606 | NS      | $206392181.82 | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                                 | Crocs Inc COM STK USD0.001                            | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |    516024 | NS      | $43851719.52  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                           | Ulta Beauty Inc COM STK USD0.01                       | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |    124413 | NS      | $67037456.79  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                    | Diamondback Energy Inc COM USD0.01                    | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |   1065378 | NS      | $162566029.02 | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds              | Northern Institutional Funds TREAS PRT PRMR           | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        | 201407863 | NS      | $201407863.46 | 4.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Amgen Inc.                                | Amgen Inc. COM USD0.0001                              | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |    695272 | NS      | $240188665.12 | 5.50%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                  | American Express Company COM USD0.20                  | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |    666542 | NS      | $243467796.34 | 5.58%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                      | JPMorgan Chase & Co. COM USD1.00                      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    488231 | NS      | $152855361.48 | 3.50%             |  |  |  | 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        |    163362 | NS      | $75468343.14  | 1.73%             |  |  |  | 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        |   1491399 | NS      | $237147354.99 | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp.                              | Target Corp. COM STK USD0.0833                        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |   1487112 | NS      | $134762089.44 | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                                 | eBay Inc. COM USD0.001                                | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |   1763753 | NS      | $146021110.87 | 3.35%             |  |  |  | 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        |   2749148 | NS      | $147491790.20 | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                       | Fifth Third Bancorp COM NPV                           | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |   2820927 | NS      | $122597487.42 | 2.81%             |  |  |  | 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        |    292737 | NS      | $55684432.14  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                           | Home Depot Inc. COM USD0.05                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    306046 | NS      | $109233938.32 | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                              | Lennar Corp. COM USD0.10 CLASS A                      | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |   1580362 | NS      | $207501530.60 | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| The Macerich Company                      | The Macerich Company COM USD0.01                      | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |  12108435 | NS      | $210202431.60 | 4.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                   | NVR Inc COM USD0.01                                   | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |     21460 | NS      | $161106443.40 | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                | Occidental Petroleum Corp. COM USD0.20                | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |   3017790 | NS      | $126747180.00 | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                             | QUALCOMM Inc. COM USD0.0001                           | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    543773 | NS      | $91402803.57  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                            | ConocoPhillips COM USD0.01                            | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   1664454 | NS      | $147620425.26 | 3.38%             |  |  |  | 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        |   1553306 | NS      | $289411973.92 | 6.63%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                   | UnitedHealth Group Inc. COM USD0.01                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    267866 | NS      | $88334170.82  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                          | Merck & Co., Inc COM USD0.50                          | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |   2462344 | NS      | $258127521.52 | 5.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                  | Western Alliance Bancorp COM USD0.0001                | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |   1351344 | NS      | $110175076.32 | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                        | Cenovus Energy Inc COM NPV                            | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |  12321267 | NS      | $219854121.83 | 5.04%             |  |  |  | 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        |   2142002 | NS      | $103051716.22 | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-16

**Name of Applicant:** Smead Funds Trust

**Signature:** Steven LeMire

**Name of Signer:** Steven LeMire

**Title:** CCO