CIK: 0001424381
Total reported value
$1.6B
Reporting period: 2026-03-31 · Number of holdings: 69
LAKEWOOD CAPITAL MANAGEMENT, LP disclosed 69 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.6B and a quarterly turnover rate of 47.1%.
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Lakewood Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.029 — mathematically equivalent to about 35 equally-sized positions, well below its 69 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.99), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim C
-84.5% -$41.0M
Add VTRS
+118.3% $28.7M
Add GPI
+91.5% $26.7M
Trim ARW
-51.2% -$21.0M
Trim SW
-43.0% -$18.9M
Add ICLR
+124.9% $22.2M
Showing top 68 holdings (of 69 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CI | THE Cigna Group | Stock-Healthcare | 7.18% | — | +5.18% | |
| 2 | ICLR | ICON Public Limited Company | Stock-Healthcare | 5.23% | +1.22% | +124.87% | |
| 3 | AXTA | Axalta Coating Systems Ltd. | Stock-Materials | 5.07% | +0.94% | +50.06% | |
| 4 | GPI | Group 1 Automotive INC | Stock-Consumer Disc | 4.45% | +1.55% | +91.48% | |
| 5 | ALLY | Ally Financial INC | Stock-Financials | 4.10% | +0.99% | +59.41% | |
| 6 | SSNC | Ss&c Technologies Holdings | Stock-Tech | 4.04% | -0.70% | +15.63% | |
| 7 | SHC | Sotera Health Co | Stock-Other | 3.72% | — | +20.74% | |
| 8 | VTRS | Viatris INC | Stock-Healthcare | 3.13% | +1.74% | +118.34% | |
| 9 | AMRZ | Amrize Ltd | Stock-Materials | 2.88% | +0.38% | +16.45% | |
| 10 | BC | Brunswick CORP | Stock-Consumer Disc | 2.70% | -1.12% | -24.54% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.56% | +0.13% | +27.51% | |
| 12 | TFSL | Tfs Financial CORP | Stock-Other | 2.52% | — | +3.09% | |
| 13 | IQV | Iqvia Holdings INC | Stock-Healthcare | 2.50% | +0.16% | +48.03% | |
| 14 | FAF | First American Financial | Stock-Financials | 2.45% | -1.02% | -24.59% | |
| 15 | ARW | Arrow Electronics INC | Stock-Tech | 2.31% | -1.51% | -51.21% | |
| 16 | MSFT | Microsoft CORP | Stock-Tech | 2.26% | +2.26% | NEW | |
| 17 | UNP | Union Pacific CORP | Stock-Industrials | 2.10% | — | -13.15% | |
| 18 | ELV | Elevance Health INC | Stock-Healthcare | 2.08% | -0.75% | -7.80% | |
| 19 | AL | Air Lease CORP | Stock-Other | 1.99% | — | — | |
| 20 | WEX | Wex INC | Stock-Tech | 1.94% | — | -11.84% | |
| 21 | CDW | Cdw Corp/de | Stock-Tech | 1.92% | +1.92% | NEW | |
| 22 | UNFI | United Natural Foods INC | Stock-Consumer Staples | 1.86% | +0.63% | +19.09% | |
| 23 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 1.70% | -1.33% | -42.98% | |
| 24 | JD | Jd.com Inc-adr | Stock-Consumer Disc | 1.69% | +0.48% | +41.47% | |
| 25 | ABG | Asbury Automotive Group | Stock-Consumer Disc | 1.67% | — | +26.60% | |
| 26 | APO | Apollo Global Management INC | Stock-Financials | 1.58% | — | +48.28% | |
| 27 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 1.49% | +1.49% | NEW | |
| 28 | MA | Mastercard INC - A | Stock-Financials | 1.38% | +1.38% | NEW | |
| 29 | V | Visa Inc-class A Shares | Stock-Financials | 1.37% | +1.37% | NEW | |
| 30 | CPNG | Coupang INC | Stock-Consumer Disc | 1.24% | +1.24% | NEW | |
| 31 | HSIC | Henry Schein INC | Stock-Healthcare | 1.22% | -0.31% | -14.10% | |
| 32 | NICE | Nice LTD - Spon Adr | Stock-Tech | 1.19% | -0.35% | -16.83% | |
| 33 | RELY | Remitly Global INC | Stock-Other | 1.19% | — | +7.14% | |
| 34 | SPGI | S&p Global INC | Stock-Financials | 1.18% | +1.18% | NEW | |
| 35 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.05% | — | +15.67% | |
| 36 | GPN | Global Payments INC | Stock-Industrials | 1.04% | — | — | |
| 37 | KMPR | Kemper CORP | Stock-Other | 0.97% | -0.88% | -27.49% | |
| 38 | BZH | Beazer Homes USA INC | Stock-Other | 0.95% | — | +10.91% | |
| 39 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.91% | -0.28% | -16.65% | |
| 40 | CRL | Charles River Laboratories | Stock-Healthcare | 0.75% | -1.10% | -50.80% | |
| 41 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.72% | -0.59% | -25.60% | |
| 42 | FIX | Comfort Systems USA INC | Stock-Industrials | 0.70% | +0.21% | — | |
| 43 | LRN | Stride INC | Stock-Consumer Staples | 0.50% | +0.50% | NEW | |
| 44 | DKNG | Draftkings Inc-cl A | Stock-Consumer Disc | 0.50% | — | +120.91% | |
| 45 | LEG | Leggett & Platt INC | Stock-Consumer Disc | 0.49% | +0.49% | NEW | |
| 46 | TFX | Teleflex INC | Stock-Healthcare | 0.48% | +0.48% | NEW | |
| 47 | C | Citigroup INC | Stock-Financials | 0.46% | -2.74% | -84.45% | |
| 48 | GBTC | Grayscale Bitcoin Trust ETF | ETF-Crypto | 0.41% | — | — | |
| 49 | DELL | Dell Technologies -c | Stock-Tech | 0.37% | +0.37% | NEW | |
| 50 | TBLA | Taboola.com Ltd. | Stock-Other | 0.37% | — | — |
Performance for Q3 2026
+6.1%
Performance Last 4 Quarters
+20.2%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 69 | $1.6B | 47 | |
| 2025-12-31 | 63 | $1.5B | 45 | |
| 2025-09-30 | 56 | $1.3B | 40 | |
| 2025-06-30 | 49 | $1.3B | 0 | |
| 2025-03-31 | 47 | $1.1B | 100 | |
| 2024-12-31 | 45 | $1.1B | 0 | |
| 2024-09-30 | 47 | $1.3B | 0 | |
| 2024-06-30 | 44 | $1.2B | 0 | |
| 2024-03-31 | 43 | $1.2B | 0 | |
| 2023-12-31 | 42 | $1.2B | 0 | |
| 2023-09-30 | 38 | $1.1B | 0 | |
| 2023-06-30 | 34 | $1.2B | 0 | |
| 2023-03-31 | 34 | $1.2B | 0 | |
| 2022-12-31 | 32 | $1.1B | 0 | |
| 2022-09-30 | 38 | $1.2B | 0 | |
| 2022-06-30 | 45 | $1.6B | 0 | |
| 2022-03-31 | 57 | $2.0B | 0 | |
| 2021-12-31 | 65 | $2.4B | 0 | |
| 2021-09-30 | 55 | $2.3B | 0 | |
| 2021-06-30 | 58 | $2.4B | 99 | |
| 2021-03-31 | 61 | $2.4B | 40 | |
| 2020-12-31 | 54 | $2.1B | 31 | |
| 2020-09-30 | 58 | $2.1B | 29 | |
| 2020-06-30 | 53 | $2.3B | 40 | |
| 2020-03-31 | 51 | $2.2B | 67 | |
| 2019-12-31 | 39 | $2.8B | 31 | |
| 2019-09-30 | 34 | $2.9B | 26 | |
| 2019-06-30 | 37 | $3.3B | 35 | |
| 2019-03-31 | 37 | $3.6B | 27 | |
| 2018-12-31 | 42 | $3.0B | 55 | |
| 2018-09-30 | 34 | $3.0B | 29 | |
| 2018-06-30 | 37 | $3.0B | 26 | |
| 2018-03-31 | 34 | $3.1B | 26 | |
| 2017-12-31 | 35 | $2.9B | 34 | |
| 2017-09-30 | 30 | $2.8B | 29 | |
| 2017-06-30 | 34 | $2.5B | 29 | |
| 2017-03-31 | 34 | $2.4B | 35 | |
| 2016-12-31 | 37 | $2.2B | 96 | |
| 2016-09-30 | 42 | $4.4B | 92 | |
| 2016-06-30 | 34 | $2.1B | 43 | |
| 2016-03-31 | 33 | $2.3B | 24 | |
| 2015-12-31 | 41 | $2.3B | 34 | |
| 2015-09-30 | 51 | $2.6B | 45 | |
| 2015-06-30 | 49 | $2.4B | 55 | |
| 2015-03-31 | 47 | $1.9B | 41 | |
| 2014-12-31 | 36 | $1.8B | 43 | |
| 2014-09-30 | 36 | $1.6B | 53 | |
| 2014-06-30 | 29 | $1.2B | 38 | |
| 2014-03-31 | 38 | $1.3B | 35 | |
| 2013-12-31 | 44 | $1.3B | 38 | |
| 2013-09-30 | 48 | $1.2B | 51 | |
| 2013-06-30 | 55 | $1.5B | 0 |
Lakewood Capital Management, LP's most significant position changes for 2026-03-31: New buy: Microsoft CORP (MSFT); Sold out: Ast Spacemobile INC (ASTS); New buy: Cdw Corp/de (CDW); New buy: Booking Holdings INC (BKNG); New buy: Mastercard INC - A (MA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VTRS | Viatris INC | +1.7% | +118.34% | Add |
| 2 | GPI | Group 1 Automotive INC | +1.6% | +91.48% | Add |
| 3 | ICLR | ICON Public Limited Company | +1.2% | +124.87% | Add |
| 4 | ALLY | Ally Financial INC | +1% | +59.41% | Add |
| 5 | AXTA | Axalta Coating Systems Ltd. | +0.9% | +50.06% | Add |
| 6 | UNFI | United Natural Foods INC | +0.6% | +19.09% | Add |
| 7 | JD | Jd.com Inc-adr | +0.5% | +41.47% | Add |
| 8 | AMRZ | Amrize Ltd | +0.4% | +16.45% | Add |
| 9 | FIX | Comfort Systems USA INC | +0.2% | — | Unchanged |
| 10 | IQV | Iqvia Holdings INC | +0.2% | +48.03% | Add |
| 11 | META | Meta Platforms Inc-class A | +0.1% | +27.51% | Add |
| 12 | CMCSA | Comcast Corp-class A | -0.3% | -16.65% | Trim |
| 13 | LAW | Cs Disco INC | -0.3% | +2.31% | Add |
| 14 | HSIC | Henry Schein INC | -0.3% | -14.10% | Trim |
| 15 | NICE | Nice LTD - Spon Adr | -0.4% | -16.83% | Trim |
| 16 | IBIT | Ishares Bitcoin Trust ETF | -0.6% | -25.60% | Trim |
| 17 | SSNC | Ss&c Technologies Holdings | -0.7% | +15.63% | Add |
| 18 | ELV | Elevance Health INC | -0.8% | -7.80% | Trim |
| 19 | KMPR | Kemper CORP | -0.9% | -27.49% | Trim |
| 20 | FAF | First American Financial | -1% | -24.59% | Trim |
| 21 | CRL | Charles River Laboratories | -1.1% | -50.80% | Trim |
| 22 | BC | Brunswick CORP | -1.1% | -24.54% | Trim |
| 23 | SW | Smurfit Westrock Plc | -1.3% | -42.98% | Trim |
| 24 | ARW | Arrow Electronics INC | -1.5% | -51.21% | Trim |
| 25 | C | Citigroup INC | -2.7% | -84.45% | Trim |
| 26 | MSFT | Microsoft CORP | — | NEW | New buy |
| 27 | ASTS | Ast Spacemobile INC | — | EXIT | Sold out |
| 28 | CDW | Cdw Corp/de | — | NEW | New buy |
| 29 | BKNG | Booking Holdings INC | — | NEW | New buy |
| 30 | MA | Mastercard INC - A | — | NEW | New buy |
| 31 | V | Visa Inc-class A Shares | — | NEW | New buy |
| 32 | CPNG | Coupang INC | — | NEW | New buy |
| 33 | SPGI | S&p Global INC | — | NEW | New buy |
| 34 | KOF | Coca-cola Femsa Sab-sp Adr | — | EXIT | Sold out |
| 35 | OKLO | Oklo INC | — | EXIT | Sold out |
| 36 | GLNG | Golar LNG Limited | — | EXIT | Sold out |
| 37 | MCY | Mercury General CORP | — | EXIT | Sold out |
| 38 | SIG | Signet Jewelers Limited | — | EXIT | Sold out |
| 39 | LRN | Stride INC | — | NEW | New buy |
| 40 | LEG | Leggett & Platt INC | — | NEW | New buy |
| 41 | TFX | Teleflex INC | — | NEW | New buy |
| 42 | RGTI | Rigetti Computing INC | — | EXIT | Sold out |
| 43 | DELL | Dell Technologies -c | — | NEW | New buy |
| 44 | SNAP | Snap INC - A | — | NEW | New buy |
| 45 | AVT | Avnet INC | — | NEW | New buy |
| 46 | QQQ | Invesco Qqq Trust Series 1 | — | NEW | New buy |
| 47 | AEO | American Eagle Outfitters | — | EXIT | Sold out |
| 48 | VSNT | Versant Media Group INC | — | NEW | New buy |
| 49 | KWEB | Kranesh Csi China Internet | — | EXIT | Sold out |
| 50 | SBET | Sharplink INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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