Smead Capital Management’s Value Fund Q4 2020 Investor Letter

Smead Capital Management, an investment management firm, published its “Smead Value Fund” fourth quarter 2020 investor letter – a copy of which can be downloaded here. A return of 12.48% was recorded by the fund in the fourth quarter of 2020, below its Russell 1000 benchmark that delivered a 14.7% return, but above the S&P 500 Index which had a gain of 12.15% in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.