Lakewood Capital Management portfolio
Investment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Lakewood Capital Management reported a $1.9 bn portfolio of 62 positions to the SEC as of the end of Q2 2026. Its largest positions are CI, AXTA, ICLR. During the quarter it opened Copa Holdings and Spotify Technology.
Sections with a free account
What changed this quarter
57 positions with a change (10 new, 23 added to, 15 trimmed, 9 sold); also, 1 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Copa Holdings+4.0 ppof portfolioNew— → 4.0%
- Spotify Technology+2.2 ppof portfolioNew— → 2.2%
- Century Communities+1.8 ppof portfolioNew— → 1.8%
- Mastercard+151%more sharesIncreased1.4% → 2.9%
- CDW+93%more sharesIncreased2.0% → 3.5%
- Icon−22%fewer sharesReduced5.3% → 5.3%
- Meta Platforms+64%more sharesIncreased2.6% → 3.4%
- Elevance Health−47%fewer sharesReduced2.1% → 1.2%
- Axalta Coating Systems+18%more sharesIncreased5.1% → 6.1%
- Arrow Electronics−31%fewer sharesReduced2.4% → 2.0%
- Visa+68%more sharesIncreased1.4% → 2.1%
- IQVIA Holdings+37%more sharesIncreased2.5% → 3.2%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Cigna GroupCI6.1%
- Axalta Coating SystemsAXTA6.1%
- IconICLR5.3%
- Ally FinancialALLY4.2%
- Copa HoldingsCPA4.0%
- Group 1 AutomotiveGPI3.7%
- Sotera HealthSHC3.7%
- CDWCDW3.5%
- Meta PlatformsMETA3.4%
- Ss&c Technologies HoldingsSSNC3.3%
- IQVIA HoldingsIQV3.2%
- ViatrisVTRS3.1%
- MastercardMA2.9%
- First American FinancialFAF2.6%
- AmrizeAMRZ2.5%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Health Care 25%
- ● Financials 21%
- ● Consumer Discretionary 15%
- ● Information Technology 13%
- ● Materials 11%
- ● Communication Services 7%
- ● Industrials 7%
- ● Consumer Staples 1%
- ● No sector 1%
How its portfolio changed (8 quarters)
Q2 2026: 62
Q2 2026: 43%
Q2 2026: 16.5%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Declared options (3)
Besides stocks, Lakewood Capital Management declared 3 calls (they gain if it rises) with a notional of $12.8M. The 13F reports the value of the underlying shares, not the premium paid, so these figures look large and are not added to the portfolio. Nor does it say whether the option is bought or written, or its strike or expiry: it may be a hedge.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 10, 2026 (high confidence).
The data, as reported: LAKEWOOD CAPITAL MANAGEMENT, LP (CRD 156429): 7.B private funds: 1 hedge (gross assets $3.4 bn); 5.D assets by client type: pooled vehicles 100% (of $3.4 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
Not counted as a concentrated manager: its top 10 positions are under 45%. Its portfolio is shown all the same, but it is left out of manager counts, the consensus and the ranking. How this is decided
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Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
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