LAKEWOOD CAPITAL MANAGEMENT, LP
CIK 1424381 · View on SEC EDGAR ↗
- Portfolio value
- $1.9B
- Positions
- 65
- As of
- June 30, 2026
#1,542 of 9,443 by 13F value · top 16.3%
Portfolio value QoQ: +22.6% 13F does not disclose cash
- Top 10 holdings weight
- 42.95%
- Top 25 holdings weight
- 76.17%
- Positions above 1%
- 34
- Effective number of positions
- 34.0
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 14.2% Est. buys $456,224,209 · sells $250,134,713
Median holding: 3.0 quarters Tracked Q4 2024–Q2 2026 · 56.5% still held
- New positions
- 11
- Increased
- 25
- Decreased
- 15
- Closed
- 15
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +8.7% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 96.8% · Options excluded: 2.5%
Sector breakdown
Healthcare
25.1%
Industrials
18.1%
Financial Services
15.2%
Retail
8.9%
Communication Services
8.0%
Materials
6.0%
Financials
5.2%
Consumer Discretionary
4.4%
Technology
3.6%
Consumer products
2.3%
Packaging
1.7%
Diversified Consumer Services
0.4%
Real Estate
0.4%
Other/Unmapped
0.7%
Full portfolio 65 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| CI The Cigna Group Common Stock | $117,937,834 | 6.08% | 427,807 | $4,220,442 | Up ×3 | ||
| AXTA Axalta Coating Systems Ltd. Common Shares | $117,157,235 | 6.04% | 3,423,648 | $36,947,785 | Up ×4 | ||
| ICLR ICON plc - Ordinary Shares | $101,655,092 | 5.24% | 585,200 | $18,914,610 | Down ×1 | ||
| ALLY Ally Financial Inc. Common Stock | $80,817,274 | 4.16% | 1,758,809 | $15,977,577 | Up ×3 | ||
| CPA Copa Holdings, S.A. Class A Common Stock | $76,991,593 | 3.97% | 494,900 | Up ×1 | |||
| GPI Group 1 Automotive, Inc. Common Stock | $72,097,768 | 3.71% | 247,614 | $1,648,450 | Up ×4 | ||
| SHC Sotera Health Company - Common Stock | $70,637,563 | 3.64% | 3,979,581 | $11,777,871 | Down ×1 | ||
| CDW CDW Corporation - Common Stock | $67,999,440 | 3.50% | 483,500 | $37,623,420 | Up ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $65,333,191 | 3.37% | 115,985 | $24,794,920 | Up ×3 | ||
| SSNC SS&C Technologies Holdings, Inc. - Common Stock | $63,101,996 | 3.25% | 1,016,954 | $-883,686 | Up ×3 | ||
| IQV IQVIA Holdings, Inc. Common Stock | $61,424,638 | 3.16% | 317,900 | $21,791,142 | Up ×2 | ||
| VTRS Viatris Inc. - Common Stock | $59,326,092 | 3.06% | 3,735,900 | $9,732,233 | Up ×2 | ||
| MA Mastercard Incorporated Common Stock | $56,215,574 | 2.90% | 109,454 | $34,398,919 | Up ×1 | ||
| FAF First American Corporation (New) Common Stock | $50,475,655 | 2.60% | 735,904 | $11,654,683 | Up ×1 | ||
| AMRZ Amrize Ltd Ordinary Shares | $47,341,060 | 2.44% | 888,200 | $1,729,576 | Up ×3 | ||
| SPOT Spotify Technology S.A. Ordinary Shares | $42,928,655 | 2.21% | 93,500 | Up ×1 | |||
| V Visa Inc. | $41,369,106 | 2.13% | 120,578 | $19,735,976 | Up ×1 | ||
| BC Brunswick Corporation Common Stock | $38,789,740 | 2.00% | 460,467 | $-3,954,359 | Down ×2 | ||
| MSFT Microsoft Corporation - Common Stock | $37,874,213 | 1.95% | 101,534 | $2,140,222 | Up ×1 | ||
| ARW Arrow Electronics, Inc. Common Stock | $37,636,988 | 1.94% | 176,360 | $1,015,810 | Down ×4 | ||
| TFSL TFS Financial Corporation - Common Stock | $36,687,169 | 1.89% | 2,070,382 | $-3,149,948 | Down ×1 | ||
| ABG Asbury Automotive Group Inc Common Stock | $35,918,719 | 1.85% | 178,629 | $9,415,456 | Up ×2 | ||
| CCS Century Communities, Inc. Common Stock | $34,898,420 | 1.80% | 487,000 | Up ×1 | |||
| SW Smurfit WestRock plc Ordinary Shares | $33,672,515 | 1.73% | 727,897 | $6,738,020 | Up ×1 | ||
| CRL Charles River Laboratories International, Inc. Common Stock | $30,389,860 | 1.57% | 134,000 | $18,487,360 | Up ×1 | ||
| BKNG Booking Holdings Inc. - Common Stock | $29,445,248 | 1.52% | 165,200 | $5,888,508 | Up ×1 | ||
| WEX WEX Inc. common stock | $28,354,575 | 1.46% | 200,968 | $-2,401,568 | |||
| UNP Union Pacific Corporation Common Stock | $27,662,400 | 1.43% | 101,700 | $-5,503,754 | Down ×2 | ||
| APO Apollo Global Management, Inc. (New) Common Stock | $26,879,677 | 1.38% | 227,197 | $1,899,647 | Up ×3 | ||
| JD JD.com, Inc. - American Depositary Shares | $25,710,594 | 1.32% | 1,009,050 | $-1,022,165 | Up ×6 | ||
| ELV Elevance Health, Inc. Common Stock | $22,952,426 | 1.18% | 59,350 | $-9,938,037 | Down ×3 | ||
| CPNG Coupang, Inc. Class A Common Stock | $22,667,850 | 1.17% | 1,305,000 | $3,032,650 | Up ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $21,649,475 | 1.12% | 60,580 | $5,091,770 | Up ×2 | ||
| SPGI S&P Global Inc. Common Stock | $21,075,705 | 1.09% | 51,750 | $2,467,080 | Up ×1 | ||
| GPN Global Payments Inc. Common Stock | $17,726,408 | 0.91% | 244,300 | $1,285,018 | |||
| RELY Remitly Global, Inc. - Common stock | $16,834,392 | 0.87% | 751,200 | $-1,988,412 | Down ×1 | ||
| UNFI United Natural Foods, Inc. Common Stock | $15,984,500 | 0.82% | 350,000 | $-13,529,800 | Down ×1 | ||
| HCA HCA Healthcare, Inc. Common Stock | $15,010,765 | 0.77% | 38,500 | Up ×1 | |||
| INGM Ingram Micro Holding Corporation Common Stock | $10,834,850 | 0.56% | 395,000 | Up ×1 | |||
| NICE NICE Ltd - American Depositary Shares each representing one Ordinary Share | $10,611,280 | 0.55% | 116,800 | $-2,267,088 | |||
| CMCSA Comcast Corporation - Class A Common Stock | $10,329,363 | 0.53% | 420,748 | $-4,047,112 | Down ×3 | ||
| LEG Leggett & Platt, Incorporated Common Stock | $9,719,300 | 0.50% | 830,000 | $2,012,900 | Up ×1 | ||
| TBLA Taboola.com Ltd. - Ordinary Shares | $9,467,705 | 0.49% | 1,893,541 | $3,597,728 | |||
| KMPR Kemper Corporation | $9,249,706 | 0.48% | 343,090 | $-6,063,604 | Down ×3 | ||
| HSIC Henry Schein, Inc. - Common Stock | $8,101,440 | 0.42% | 97,000 | $-11,207,960 | Down ×2 | ||
| LRN Stride, Inc. Common Stock | $7,761,600 | 0.40% | 90,000 | $-173,700 | |||
| DKNG DraftKings Inc. - Class A Common Stock | $7,691,670 | 0.40% | 304,500 | $-188,820 | Down ×1 | ||
| LKQ LKQ Corporation - Common Stock | $6,977,450 | 0.36% | 265,000 | Up ×1 | |||
| NSP Insperity, Inc. Common Stock | $6,816,150 | 0.35% | 165,000 | Up ×1 | |||
| AVT Avnet, Inc. - Common Stock | $6,395,040 | 0.33% | 72,000 | $1,280,580 | Down ×1 | ||
| NICE NICE Ltd - American Depositary Shares each representing one Ordinary Share | $5,832,570 | 0.30% | 64,200 | Call option | $-143,522 | Up ×1 | |
| EME EMCOR Group, Inc. Common Stock | $5,809,160 | 0.30% | 7,000 | $640,990 | |||
| IOT Samsara Inc. Class A Common Stock | $5,675,250 | 0.29% | 175,000 | Up ×1 | |||
| GBTC | $5,621,720 | 0.29% | 123,500 | $-894,140 | |||
| SNAP Snap Inc. Class A Common Stock | $5,550,000 | 0.29% | 1,250,000 | Call option | $-200,000 | ||
| FRMI Fermi Inc. - Common Stock | $5,496,000 | 0.28% | 600,000 | Up ×1 | |||
| KLAR Klarna Group plc Ordinary Shares | $5,464,800 | 0.28% | 270,000 | $1,930,500 | |||
| GDS GDS Holdings Limited - American Depositary Shares | $5,375,370 | 0.28% | 179,000 | Up ×1 | |||
| HIPO Hippo Holdings Inc. Common Stock | $5,369,400 | 0.28% | 190,000 | $418,000 | |||
| LAW CS Disco, Inc. Common Stock | $4,182,687 | 0.22% | 1,106,531 | $-44,261 | |||
| IBIT iShares Bitcoin Trust ETF | $3,778,748 | 0.19% | 113,510 | $-7,613,166 | Down ×2 | ||
| VSNT Versant Media Group, Inc. - Class A Common Stock | $3,746,084 | 0.19% | 104,029 | $-105,070 | |||
| SBET Sharplink, Inc. - Common Stock | $2,683,200 | 0.14% | 559,000 | $-922,350 | |||
| FRMI Fermi Inc. - Common Stock | $1,374,000 | 0.07% | 150,000 | Call option | Up ×1 | ||
| BTC | $640,965 | 0.03% | 24,700 | $-99,788 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| CPA | $76,991,593 | 494,900 | 3.97% |
| SPOT | $42,928,655 | 93,500 | 2.21% |
| CCS | $34,898,420 | 487,000 | 1.80% |
| HCA | $15,010,765 | 38,500 | 0.77% |
| INGM | $10,834,850 | 395,000 | 0.56% |
| LKQ | $6,977,450 | 265,000 | 0.36% |
| NSP | $6,816,150 | 165,000 | 0.35% |
| IOT | $5,675,250 | 175,000 | 0.29% |
| FRMI | $5,496,000 | 600,000 | 0.28% |
| GDS | $5,375,370 | 179,000 | 0.28% |
| FRMI | $1,374,000 | 150,000 | 0.07% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| CDW | Bought more | +232K | +$37.6M |
| AXTA | Bought more | +528K | +$36.9M |
| MA | Bought more | +66K | +$34.4M |
| META | Bought more | +45K | +$24.8M |
| IQV | Bought more | +86K | +$21.8M |
| V | Bought more | +49K | +$19.7M |
| ICLR | Trimmed | -162K | +$18.9M |
| CRL | Bought more | +65K | +$18.5M |
| ALLY | Bought more | +106K | +$16.0M |
| UNFI | Trimmed | -305K | -$13.5M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| ASTS | March 31, 2026 | 436,000 | $31,666,680 | -17.8% |
| AL | June 30, 2026 | 485,878 | $31,552,917 | No longer tracked |
| KOF | March 31, 2026 | 186,800 | $17,691,828 | 16.8% |
| OKLO | March 31, 2026 | 240,000 | $17,222,400 | -13.4% |
| GLNG | March 31, 2026 | 435,000 | $16,186,350 | -1.5% |
| CACI | June 30, 2025 | 42,123 | $15,455,771 | 35.5% |
| UNH | Sept. 30, 2025 | 48,000 | $14,974,560 | 12.2% |
| BZH | June 30, 2026 | 777,506 | $14,959,215 | 18.3% |
| MCY | March 31, 2026 | 158,218 | $14,881,985 | 18.4% |
| FDX | June 30, 2025 | 48,330 | $11,781,887 | 44.9% |
| FIX | June 30, 2026 | 8,000 | $11,031,920 | -15.1% |
| SIG | March 31, 2026 | 122,300 | $10,136,224 | -3.0% |
| TFX | June 30, 2026 | 64,000 | $7,655,040 | 6.5% |
| CAR | June 30, 2025 | 96,775 | $7,345,223 | -13.9% |
| C | June 30, 2026 | 64,339 | $7,296,686 | -5.8% |
| LBTYA | March 31, 2025 | 549,178 | $7,007,511 | -7.8% |
| ROOT | March 31, 2025 | 94,200 | $6,837,978 | -57.2% |
| RGTI | March 31, 2026 | 289,700 | $6,416,855 | 18.5% |
| GDRX | Dec. 31, 2025 | 1,492,274 | $6,312,319 | 30.1% |
| GIL | Dec. 31, 2025 | 107,041 | $6,186,970 | -9.3% |
| SNX | June 30, 2025 | 57,000 | $5,925,720 | 86.2% |
| DELL | June 30, 2026 | 35,800 | $5,875,854 | 1.8% |
| BCS | March 31, 2025 | 400,000 | $5,316,000 | 75.1% |
| RBLX | Sept. 30, 2025 | 50,000 | $5,260,000 | -71.9% |
| QQQ | June 30, 2026 | 8,500 | $4,906,030 | |
| XLE | June 30, 2025 | 50,000 | $4,672,500 | No longer tracked |
| AEO | March 31, 2026 | 175,900 | $4,638,483 | -2.2% |
| KWEB | March 31, 2026 | 110,000 | $3,745,500 | No longer tracked |
| STZ | Dec. 31, 2025 | 27,500 | $3,703,425 | -2.6% |
| ASST | June 30, 2026 | 328,570 | $3,292,271 | 68.6% |
| COF | June 30, 2026 | 18,000 | $3,283,740 | 8.5% |
| SDRL | March 31, 2026 | 85,100 | $2,944,460 | 7.2% |
| CCI | March 31, 2025 | 31,000 | $2,813,560 | -27.1% |
| JBS | Sept. 30, 2025 | 190,000 | $2,775,900 | -9.7% |
| GT | June 30, 2025 | 300,000 | $2,772,000 | -42.3% |
| CZR | June 30, 2025 | 106,000 | $2,650,000 | 4.5% |
| WAY | June 30, 2026 | 96,700 | $2,331,437 | 20.7% |
| TDOC | March 31, 2025 | 225,000 | $2,045,250 | -19.3% |
| NIQ | Dec. 31, 2025 | 113,000 | $1,774,100 | 10.2% |
| IONQ | June 30, 2026 | 50,000 | $1,441,500 | -20.2% |
| MSTU | March 31, 2025 | 176,000 | $1,337,600 | No longer tracked |
| BAND | June 30, 2026 | 65,721 | $1,171,148 | -27.3% |
| QS | June 30, 2026 | 120,000 | $765,600 | -20.7% |
| IREN | March 31, 2026 | 20,000 | $755,400 | 31.8% |
| ONTO | June 30, 2025 | 5,079 | $616,286 | 198.2% |
| SNBR | Dec. 31, 2025 | 55,798 | $391,702 | No longer tracked |
| QBTS | June 30, 2026 | 20,000 | $288,600 | No longer tracked |
| TSE | March 31, 2026 | 281,279 | $139,796 | No longer tracked |
| QUBT | June 30, 2026 | 15,000 | $102,750 | -13.2% |