Smead Capital Management’s Q4 2021 Investor Letter

Smead Capital Management, an investment management firm, published its “Smead Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth quarter, the Fund was up 8.30% versus the gain of 11.03% in the S&P 500 Index and the Russell 1000 Value Net Index of 7.77%. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.