{ "crd_number": 143567, "slug": "smead-capital-management-inc-phoenix-az-143567", "primary_business_name": "SMEAD CAPITAL MANAGEMENT, INC.", "legal_name": "SMEAD CAPITAL MANAGEMENT, INC.", "dbas": [], "city": "Phoenix", "state": "AZ", "country": "United States", "cbsa_code": "38060", "metro": { "cbsa_code": "38060", "common_name": "Phoenix", "msa_name": "Phoenix-Mesa-Chandler, AZ", "path": "/advisors/az/phoenix" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2007-04-26", "years_registered": 19, "period": "2026-10-01", "filing_date": "2026-03-30", "carried_forward": false, "raum_total": 5515720920.0, "raum_discretionary": 5357915668.0, "raum_non_discretionary": 157805252.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 18, "advisory_employees": 10, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "other": { "raum": 157805252.0, "count": 123, "description": "UMA PLATFORM" }, "individuals": { "raum": 1640262.0, "count": 2, "fewer_than_5": true }, "investment_companies": { "raum": 4446092161.0, "count": 2 }, "high_net_worth_individuals": { "raum": 43195752.0, "count": 49 }, "pooled_investment_vehicles": { "raum": 410178449.0, "count": 1 }, "corporations_other_businesses": { "raum": 456809044.0, "count": 8 } }, "compensation_types": [ "percentage_of_aum" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_individuals", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "AZ", "NJ", "WA" ], "websites": [ "https://facebook.com/SMEADCAP", "https://linkedin.com/COMPANY/SMEAD-CAPITAL-MANAGEMENT", "https://smeadcap.com", "https://twitter.com/SMEADCAP" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/143567", "city_as_filed": "PHOENIX", "url": "https://advisorcensus.com/firm/smead-capital-management-inc-phoenix-az-143567", "display_name": "Smead Capital Management, Inc.", "summary": "Smead Capital Management, Inc. is an SEC-registered investment advisory firm in Phoenix, AZ, registered since 2007, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.", "citation": "AdvisorCensus. Smead Capital Management, Inc. (CRD 143567): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management" ], "advisory_activity_labels": [ "Portfolio management for individuals and/or small businesses", "Portfolio management for investment companies (and business development companies)", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is Smead Capital Management, Inc. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Smead Capital Management, Inc. reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Smead Capital Management, Inc. located?", "a": "Smead Capital Management, Inc.'s principal office is in Phoenix, AZ, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F)." }, { "q": "Is Smead Capital Management, Inc. registered with the SEC or a state?", "a": "Smead Capital Management, Inc. is an SEC-registered investment advisory firm, registered since 2007. Status as filed: Approved. CRD 143567." }, { "q": "How much does Smead Capital Management, Inc. manage?", "a": "Smead Capital Management, Inc. reports $5,515,720,920 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (97% discretionary)." }, { "q": "How have Smead Capital Management, Inc.'s assets and staff changed since 2021?", "a": "In the Form ADV data for Smead Capital Management, Inc.: Regulatory assets under management: $1,773,456,493 in the October 2021 data and $5,515,720,920 in the October 2026 data, up 211%. Total employees: 14 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Smead Capital Management, Inc. serve?", "a": "By number of clients on Form ADV Item 5.D: other (123); high net worth individuals (49); corporations or other businesses not listed above (8)." }, { "q": "Does Smead Capital Management, Inc. report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/143567" }, { "q": "What changed in Smead Capital Management, Inc.'s recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 16 to 10. Regulatory assets under management went from $7,168,225,918 to $5,515,720,920 (-23%). Changed its office addresses in London. Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1773456493.0, "total_employees": 14, "filing_date": "2021-04-12" }, { "period": "2022-10-01", "regulatory_assets_under_management": 4008191727.0, "total_employees": 13, "filing_date": "2022-03-16" }, { "period": "2023-10-01", "regulatory_assets_under_management": 5250997806.0, "total_employees": 16, "filing_date": "2023-03-21" }, { "period": "2024-10-01", "regulatory_assets_under_management": 6072332268.0, "total_employees": 17, "filing_date": "2024-02-26" }, { "period": "2025-10-01", "regulatory_assets_under_management": 7168225918.0, "total_employees": 19, "filing_date": "2025-03-12" }, { "period": "2026-10-01", "regulatory_assets_under_management": 5515720920.0, "total_employees": 18, "filing_date": "2026-03-30" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 16 to 10.", "Regulatory assets under management went from $7,168,225,918 to $5,515,720,920 (-23%).", "Changed its office addresses in London.", "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/smead-capital-management-inc-phoenix-az-143567.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 2, "fewer_than_5": true, "raum": 1640262.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 49, "fewer_than_5": false, "raum": 43195752.0 }, { "type": "investment_companies", "label": "Investment companies", "count": 2, "fewer_than_5": false, "raum": 4446092161.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 1, "fewer_than_5": false, "raum": 410178449.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 8, "fewer_than_5": false, "raum": 456809044.0 }, { "type": "other", "label": "Other", "count": 123, "fewer_than_5": false, "raum": 157805252.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/143567", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }