Q1 2021 Report.pdf

shareholder-letter-smead-value-fund1.pdf
Preview of Q1 2021 Report
🔗 Source: smeadcap.com
📊 Size: 8.59 MB
📄 Pages: 6 pages
⬇️ Downloads: 58

Summary

The Smead Value Fund returned 20.22% for Q1 2021, outperforming the S&P 500 Index (6.18%) and Russell 1000 Value Index (11.26%). Top performers included Discovery Inc., Continental Resources, and Lennar. The fund's managers believe they are early in a market phase where money is moving from impatient to patient investors, and they are positioning for a potential mean reversion between value and growth strategies. They also discuss the concept of "winning the peace" after the COVID-19 pandemic, drawing parallels with post-World War I and II strategies, and suggest that investors should focus on a post-pandemic strategy rather than trying to profit from the pandemic itself.

Description

The Smead Value Fund returned 20.22% for Q1 2021, outperforming the S&P 500 Index (6.18%) and Russell 1000 Value Index (11.26%).

Technical Information

  • File Format: PDF
  • File Size: 8.59 MB
  • Pages: 6
  • Language: EN
  • Total Downloads: 58
  • Last Updated: 1 week ago

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