Smead International Value Fund Class A Shares · NASDAQ:SVXAX
Smead International Value Fund Class A Shares — Smead Capital Management — Investor Presentation (March 2026)
28 slides from Smead International Value Fund Class A Shares's investor presentation, March 2026
Slide 1: Trusting the Markers
FOR INSTITUTIONAL INVESTOR USE ONLY SMEAD INVESTOR OASIS // SMEAD CAPITAL MANAGEMENT Trusting the Markers P re s e n t e d by : Bill Smead Chief Investment Officer Opinions expressed are those of Smead Capital Management, are subject to change, are not guaranteed, and should not be considered recomm
Slide 2: Agenda
FOR INSTITUTIONAL INVESTOR USE ONLY Agenda Psychological Extremes The Markers in 2000 The Markers in 2008-2009 The Markers Today Sector Markers
Slide 3: Psychological Extremes: Black Monday and the Savings & Loan Crisis
FOR INSTITUTIONAL INVESTOR USE ONLY PSYCHOLOGICAL EXTREMES BLACK MONDAY AND THE SAVINGS & LOAN CRISIS 3 Past performance is no guarantee of future results. Source: The New York Times.
Slide 4: Psychological Extremes: 2008 and COVID
FOR INSTITUTIONAL INVESTOR USE ONLY PSYCHOLOGICAL EXTREMES 2008 AND COVID 4 Past performance is no guarantee of future results. Source: The New York Times, Dow Jones.
Slide 5: Psychological Extremes: Dot Com Bubble and BRIC Mania
FOR INSTITUTIONAL INVESTOR USE ONLY PSYCHOLOGICAL EXTREMES DOT COM BUBBLE AND BRIC MANIA 5 Past performance is no guarantee of future results. Source: Dow Jones.
Slide 6: Agenda
FOR INSTITUTIONAL INVESTOR USE ONLY Agenda Psychological Extremes The Markers in 2000 The Markers in 2008-2009 The Markers Today Sector Markers
Slide 7: The Markers in 1999-2000: Buffett's Sun Valley Talk
FOR INSTITUTIONAL INVESTOR USE ONLY The Markers in 1999-2000 BUFFETT’S SUN VALLEY TALK Past performance is no guarantee of future results. Source: Fortune. 7
Slide 8: The Markers in 1999-2000: Buffett Was Right
FOR INSTITUTIONAL INVESTOR USE ONLY The Markers in 1999-2000 BUFFETT WAS RIGHT Past performance is no guarantee of future results. Source: Wen Analytics. 8
Slide 9: Agenda
FOR INSTITUTIONAL INVESTOR USE ONLY Agenda Psychological Extremes The Markers in 2000 The Markers in 2008-2009 The Markers Today Sector Markers
Slide 10: The Markers in 2008: Buffett's Op-Ed
FOR INSTITUTIONAL INVESTOR USE ONLY THE MARKERS IN 2008 BUFFETT’S OP-ED Past performance is no guarantee of future results. Source: The New York Times. 10
Slide 11: The Markers in 2008: The Forgotten Man
FOR INSTITUTIONAL INVESTOR USE ONLY THE MARKERS IN 2008 THE FORGOTTEN MAN Past performance is no guarantee of future results. Source: HarperCollins. 11
Slide 12: The Markers in 2008-2009: 40-Year Lookbacks
FOR INSTITUTIONAL INVESTOR USE ONLY THE MARKERS IN 2008-2009 40-YEAR LOOKBACKS Past performance is no guarantee of future results. Source: O’Shaugnessy Asset Management. 12
Slide 13: Psychological Extremes: Charlie Merrill Brought Wall Street to Main Street
FOR INSTITUTIONAL INVESTOR USE ONLY PSYCHOLOGICAL EXTREMES CHARLIE MERRILL BROUGHT WALL STREET TO MAIN STREET Past performance is no guarantee of future results. Source: Viking Press. 13
Slide 14: The Product of the '08-'09 Markers
FOR INSTITUTIONAL INVESTOR USE ONLY THE PRODUCT OF THE ‘08-’09 MARKERS 40-YEAR LOOKBACKS Average Annualized Total Return 03/16/2009 - 12/31/2015 Smead US Value Strategy 21.03% S&P 500 Index 18.27% Past performance is no guarantee of future results. Source: Smead Capital Management, Bloomberg. Smead
Slide 15: Agenda
FOR INSTITUTIONAL INVESTOR USE ONLY Agenda Psychological Extremes The Markers in 2000 The Markers in 2008-2009 The Markers Today Sector Markers
Slide 16: The Markers Today: Buffett Indicator
FOR INSTITUTIONAL INVESTOR USE ONLY THE MARKERS TODAY BUFFETT INDICATOR Buffett might be thinking: Hold a lot of cash, I am! 16
Slide 17: The Markers Today: Symmetry
FOR INSTITUTIONAL INVESTOR USE ONLY THE MARKERS TODAY SYMMETRY 17
Slide 18: The Best 40-Year Lookback Returns of the S&P 500 Index
FOR INSTITUTIONAL INVESTOR USE ONLY THE MARKERS TODAY THE BEST 40-YEAR LOOKBACK RETURNS OF THE S&P 500 INDEX Year 40 Year Annualized 10 Year Forward 12/31/1998 8.07% -3.03% 12/31/1999 8.33% -2.72% 12/29/2000 8.12% -0.48% 12/31/2025 9.07% Past performance is no guarantee of future results. Source: Bi
Slide 19: Agenda
FOR INSTITUTIONAL INVESTOR USE ONLY Agenda Psychological Extremes The Markers in 2000 The Markers in 2008-2009 The Markers Today Sector Markers
Slide 20: Sector Markers: Year Chart
FOR INSTITUTIONAL INVESTOR USE ONLY SECTOR MARKERS 220 YEAR CHART Past performance is no guarantee of future results. Source: Stifel, US Census Bureau, US Federal Reserve Economic Data, Bloomberg. 20
Slide 21: Sector Markers: Energy
FOR INSTITUTIONAL INVESTOR USE ONLY SECTOR MARKERS ENERGY Past performance is no guarantee of future results. Source: BofA Global Investment Strategy, Bloomberg. 21
Slide 22: Sector Markers: Homebuilders
FOR INSTITUTIONAL INVESTOR USE ONLY SECTOR MARKERS HOMEBUILDERS Past performance is no guarantee of future results. Source: VettaFi. 22
Slide 23: Sector Markers: Household Equity Allocations
FOR INSTITUTIONAL INVESTOR USE ONLY SECTOR MARKERS HOUSEHOLD EQUITY ALLOCATIONS Past performance is no guarantee of future results. Source: Wells Fargo Securities, Bloomberg. 23
Slide 24: Sector Markers
FOR INSTITUTIONAL INVESTOR USE ONLY SECTOR MARKERS Past performance is no guarantee of future results. Source: @CharlieBiello, Bloomberg. 24
Slide 25: Sector Markers: The Mag 7 vs the S&P
FOR INSTITUTIONAL INVESTOR USE ONLY SECTOR MARKERS THE MAG 7 VS THE S&P 493 Past performance is no guarantee of future results. Source: Bloomberg. 25
Slide 26: Agenda
FOR INSTITUTIONAL INVESTOR USE ONLY Agenda Psychological Extremes The Markers in 2000 The Markers in 2008-2009 The Markers Today Sector Markers
Slide 27: Important Information
FOR INSTITUTIONAL INVESTOR USE ONLY IMPORTANT INFORMATION Information provided does not constitute investment advice and no investment decisions should be made based on any information provided. Information reflects the views of Smead Capital Management as of a particular time. Such views are subjec
Slide 28: Questions & Answers
FOR INSTITUTIONAL INVESTOR USE ONLY Questions & Answers Information provided does not constitute investment advice and no investment decisions should be made based on any information provided. Information reflects the views of Smead Capital Management as of a particular time. Such views are subject
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