Q2 2026 13F · SEC CIK 1424381

Lakewood Capital Management, LP

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.9B
Reported positions: 62
Top holdings a year, 3 yrs: +13.8%
Assets under management: $3.4B

Lakewood Capital Management, LP is a hedge fund that reported 62 positions worth $1.9B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were The Cigna Group (CI, 6.1%), Axalta Coating Sys Ltd (AXTA, 6.1%), Icon PLC (ICLR, 5.3%). A portfolio copying its top holdings returned 13.8% a year over the last 3 years, against 20.4% for the S&P 500.

Lakewood Capital Management, LP holdings largest 50 of 62 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Lakewood Capital Management, LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
CIThe Cigna Group	6.1%	7.3%	427,807	+0.4%	$117.9M
AXTAAxalta Coating Sys Ltd	6.1%	5.2%	3,423,648	+18.2%	$117.2M
ICLRIcon PLC	5.3%	5.3%	585,200	-21.7%	$101.7M
ALLYAlly Financial	4.2%	4.2%	1,758,809	+6.4%	$80.8M
CPACopa Holdings SA	4.0%	—	494,900	—	$77.0M
GPIRoup 1 Automotive Inc	3.7%	4.5%	247,614	+16.2%	$72.1M
SHCSotera Health Co	3.7%	3.8%	3,979,581	-3.0%	$70.6M
CDWCdw Corp	3.5%	1.9%	483,500	+92.6%	$68.0M
METAMeta Platforms Inc Class A	3.4%	2.6%	115,985	+63.7%	$65.3M
SSNCSs&c Tech Hldgs	3.3%	4.1%	1,016,954	+7.4%	$63.1M
IQVIqvia Holdings Inc	3.2%	2.5%	317,900	+36.8%	$61.4M
VTRSViatris Inc	3.1%	3.2%	3,735,900	+1.8%	$59.3M
MAMastercard Inc.	2.9%	1.4%	109,454	+150.7%	$56.2M
FAFFirst Amern Finl Corp Com	2.6%	2.5%	735,904	+14.3%	$50.5M
AMRZAmrize Ltd	2.5%	2.9%	888,200	+9.1%	$47.3M
SPOTSpotify Technology S A	2.2%	—	93,500	—	$42.9M
VVisa Inc Com Cl A	2.1%	1.4%	120,578	+68.5%	$41.4M
BCBrunswick Corp	2.0%	2.7%	460,467	-21.6%	$38.8M
MSFTMicrosoft Corp	2.0%	2.3%	101,534	+5.2%	$37.9M
ARWArrow Electrs Inc	2.0%	2.4%	176,360	-30.9%	$37.6M
TFSLTfs Finl Corp	1.9%	2.6%	2,070,382	-27.0%	$36.7M
ABGAsbury Automotive Group Inc	1.9%	1.7%	178,629	+31.7%	$35.9M
CCSCentury Communities Inc	1.8%	—	487,000	—	$34.9M
SWSmurfit Westrock PLC	1.7%	1.7%	727,897	+7.7%	$33.7M
CRLCharles Riv Labs Intl Inc	1.6%	0.8%	134,000	+94.2%	$30.4M
BKNGBooking Holdings Inc Com	1.5%	1.5%	165,200	+2852.6%	$29.4M
WEXWEX Inc	1.5%	2.0%	200,968	+0.0%	$28.4M
UNPUnion Pac Corp	1.4%	2.1%	101,700	-25.6%	$27.7M
APOApollo Global Mgmt Inc Nclass	1.4%	1.6%	227,197	+1.3%	$26.9M
JDJd.com Inc	1.3%	1.7%	1,009,050	+11.6%	$25.7M
ELVElevance Health Inc Formerly	1.2%	2.1%	59,350	-47.2%	$23.0M
CPNGCoupang Inc	1.2%	1.3%	1,305,000	+25.5%	$22.7M
GOOGLAlphabet Inc	1.1%	1.1%	60,580	+5.2%	$21.6M
SPGIS&P Global Inc.	1.1%	1.2%	51,750	+18.3%	$21.1M
GPNGlobal Pmts Inc	0.9%	1.1%	244,300	+0.0%	$17.7M
RELYRemitly Global Inc	0.9%	1.2%	751,200	-37.5%	$16.8M
UNFIUnited Nat Foods Inc	0.8%	1.9%	350,000	-46.6%	$16.0M
HCAHCA Healthcare Inc	0.8%	—	38,500	—	$15.0M
INGMIngram Micro Holding Corp	0.6%	—	395,000	—	$10.8M
NICENice Ltd	0.6%	0.8%	116,800	+0.0%	$10.6M
CMCSAComcast Corp New	0.5%	0.9%	420,748	-16.0%	$10.3M
LEGTLeggett & Platt Inc	0.5%	0.5%	830,000	+6.4%	$9.7M
TBLATaboola.com Ltd	0.5%	0.4%	1,893,541	+0.0%	$9.5M
KMPRKemper Corporation	0.5%	1.0%	343,090	-31.5%	$9.2M
HSICSchein Henry Inc	0.4%	1.2%	97,000	-63.0%	$8.1M
LRNStride Inc	0.4%	0.5%	90,000	+0.0%	$7.8M
DKNGDraftkings Inc Cl A	0.4%	0.5%	304,500	-16.5%	$7.7M
LKQLkq Corp	0.4%	—	265,000	—	$7.0M
NSPInsperity Inc Com	0.4%	—	165,000	—	$6.8M
AVTAutomatic Data Processing in	0.3%	—	72,000	—	$6.4M

What Lakewood Capital Management, LP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +14.8% /yr; S&P 500 +20.1%
3 years: +13.8% /yr; S&P 500 +20.4%
5 years: +6.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.9B	62
Q1 2026	$1.6B	62
Q4 2025	$1.4B	53
Q3 2025	$1.3B	50
Q2 2025	$1.3B	47
Q1 2025	$1.1B	44
Q4 2024	$1.1B	41
Q3 2024	$1.2B	44
Q2 2024	$1.2B	42
Q1 2024	$1.1B	38
Q4 2023	$1.1B	38
Q3 2023	$1.1B	37

Questions about Lakewood Capital Management, LP's portfolio

What stocks does Lakewood Capital Management, LP own?

Lakewood Capital Management, LP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 62 positions worth $1.9B. The largest are The Cigna Group (CI) at 6.1%, Axalta Coating Sys Ltd (AXTA) at 6.1%, Icon PLC (ICLR) at 5.3%, Ally Financial (ALLY) at 4.2% and Copa Holdings SA (CPA) at 4.0%.

What did Lakewood Capital Management, LP buy last quarter?

In Q2 2026, Lakewood Capital Management, LP added Booking Holdings Inc Com (BKNG) (+2852.6% shares), Mastercard Inc. (MA) (+150.7% shares) and Charles Riv Labs Intl Inc (CRL) (+94.2% shares), compared with its Q1 2026 filing.

What did Lakewood Capital Management, LP sell last quarter?

In Q2 2026, Lakewood Capital Management, LP cut from its top 50 Air Lease Corp (AL), cut from its top 50 Beazer Homes USA Inc (BZH), cut from its top 50 Ishares Bitcoin Trust ETF (IBIT), cut from its top 50 Teleflex Incorporated (TFX), cut from its top 50 Citigroup Inc Com New (C), Schein Henry Inc (HSIC) (-63.0% shares), Elevance Health Inc Formerly (ELV) (-47.2% shares) and United Nat Foods Inc (UNFI) (-46.6% shares), compared with its Q1 2026 filing.

How has Lakewood Capital Management, LP's portfolio performed?

A portfolio copying Lakewood Capital Management, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +13.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +14.8% against +20.1%. Over 5 years: +6.6% a year against +11.6%.

When is Lakewood Capital Management, LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Lakewood Capital Management, LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Lakewood Capital Management, LP manage?

Lakewood Capital Management, LP reported $3.4B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.9B.