Smead Capital Management Issues Statement on Relocation

SEATTLE--(BUSINESS WIRE)--The following is a statement from Cole Smead, President of Smead Capital Management:

Why We Moved

The decision to relocate from Seattle to Phoenix was not a reactionary move caused by any of the events of the past several months. As stock pickers, we continually evaluate our own business just as we would any of the companies that our clients own in their portfolios or the opportunities that the stock market presents us with for new investment. We took great care and deliberation in making this decision to relocate, which we began mentally exploring as early as two years ago. We announced our decision to move to Phoenix internally to our staff in January, long before COVID shutdowns or nationwide protests made their way to Seattle. Put simply, nothing happening or being reported in the news right now had any weight in our decision to relocate from Seattle to Phoenix.

We love Seattle as well as the relationships and the experiences it has given us. We will miss the Pacific Northwest and everything it provided to us as a company and, on a more personal note, as individuals. Ultimately, Seattle was not able to provide the resources we sought for us to advise and serve our clients. For additional information regarding specifics, please reference our Press Release announcing the move.

Cole Smead, President

About Smead Capital Management

Smead Capital Management manages large cap portfolios for advisors, family offices and institutions with a value-oriented investment discipline. As of May 31, 2020, the firm managed approximately $1.58 billion in all accounts, including mutual funds. The firm was formed in July 2007. For more information visit http://www.smeadcap.com or call 1-877-701-2883.