Macerich (NYSE: MAC) gets 5.45% ownership disclosure from Smead Capital

Rhea-AI Filing Summary

Smead Capital Management and its principals have disclosed a significant ownership stake in Macerich Company common stock. As of December 31, 2025, they report beneficial ownership of 13,963,804.91 shares of Macerich common stock, representing 5.45% of the outstanding class.

The filing shows Smead Capital Management, Inc., along with William W. Smead and Cole W. Smead, each reporting the same voting and dispositive power over these shares, with sole power to vote and dispose and no shared power. They state that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Macerich.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

MACERICH CO

(Name of Issuer)

Common Stock, $0.01 Par Value

(Title of Class of Securities)

554382101

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 554382101

1

Names of Reporting Persons

Smead Capital Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ARIZONA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,963,804.91
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,963,804.91
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,963,804.91

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.45 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 554382101

1

Names of Reporting Persons

William W. Smead

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ARIZONA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,963,804.91
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,963,804.91
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,963,804.91

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.45 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 554382101

1

Names of Reporting Persons

Cole W. Smead

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ARIZONA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,963,804.91
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,963,804.91
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,963,804.91

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.45 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MACERICH CO
(b)	Address of issuer's principal executive offices: 410 Wilshire Blvd Suite 700, Santa Monica, CA 90401
Item 2.
(a)	Name of person filing: Smead Capital Management, Inc. William W. Smead Cole W. Smead
(b)	Address or principal business office or, if none, residence: 2502 E Camelback Road, Suite 210, Phoenix, AZ 85016
(c)	Citizenship: USA
(d)	Title of class of securities: Common Stock, $0.01 Par Value
(e)	CUSIP No.: 554382101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 13963804.91
(b)	Percent of class: 5.45 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 13963804.91
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 13963804.91
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Smead Capital Management, Inc.

Signature:	Steve LeMire
Name/Title:	Steve LeMire Chief Compliance Officer
Date:	01/06/2026

William W. Smead

Signature:	William W. Smead
Name/Title:	William W. Smead | Chief Investment Officer
Date:	01/06/2026

Cole W. Smead

Signature:	Cole W. Smead
Name/Title:	Cole W. Smead | President & Chief Executive Officer
Date:	01/06/2026

Exhibit Information

JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: january 6, 2026 Smead Capital Management, Inc. /s/ Steve LeMire Steve Lemire | Chief Compliance Officer William W. Smead /s/ William W. Smead | Chief Investment Officer Cole W. Smead /s/ Cole W. Smead | President & Chief Executive Officer

FAQ

What ownership stake in Macerich (MAC) does Smead Capital report?

Smead Capital Management and its principals report beneficial ownership of 13,963,804.91 shares of Macerich common stock, representing 5.45% of the class.

Which investors are listed as reporting persons in this Macerich (MAC) Schedule 13G/A?

The reporting persons are Smead Capital Management, Inc., William W. Smead, and Cole W. Smead, all with the same reported beneficial ownership figures.

What type of Macerich (MAC) security is covered in this Schedule 13G/A?

The filing covers Mac erich Company common stock with a par value of $0.01 per share, identified by CUSIP 554382101.

How much voting and dispositive power over Macerich (MAC) shares is reported?

Each reporting person discloses 13,963,804.91 shares with sole power to vote and dispose, and 0 shares with shared voting or dispositive power.

Is Smead Capital seeking to influence control of Macerich (MAC) with this stake?

No. The certification states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Macerich.

What is the event date for the ownership reported in this Macerich (MAC) Schedule 13G/A amendment?

The date of the event requiring this Schedule 13G/A filing is December 31, 2025, as stated in the cover information.