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LAKEWOOD CAPITAL MANAGEMENT, LP

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13F filer, CIK 1424381, New York, NY

LAKEWOOD CAPITAL MANAGEMENT, LP reported $1,146,741,259 across 47 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 57.01% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-002040

Period
2025-03-31
Reported value
$1.15B
Holdings
47
Top 10 weight
57.01%
New
8
Sold out
6

Part of the filer group LAKEWOOD CAPITAL MANAGEMENT, LP

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ARWadded+348,000$36.1M
ALnew+448,878$21.7M
CACInew+42,123$15.5M
CIadded+38,500$12.7M
SIGadded+199,000$11.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GPIreduced-27,750-$10.6M
LBTYAexited-549,178-$7.01M
ROOTexited-94,200-$6.84M
APOreduced-42,000-$5.75M
IBITreduced-114,250-$5.35M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001172661-25-002040, largest first. % of portfolio is the value over $1,121,904,209, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CITHE CIGNA GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 302,357 shares; 2024Q4: 355,107 shares; 2025Q1: 393,607 shares 393,607$129M11.54%+38,500Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,500 shares; 2024Q4: 178,650 shares; 2025Q1: 190,150 shares 190,150$82.7M7.37%+11,500Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,266,800 shares; 2024Q4: 846,500 shares; 2025Q1: 887,839 shares 887,839$63M5.62%+41,339Timeline
KMPRKEMPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,026,998 shares; 2024Q4: 938,090 shares; 2025Q1: 938,090 shares 938,090$62.7M5.59%0Timeline
ARWARROW ELECTRS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 199,360 shares; 2025Q1: 547,360 shares 547,360$56.8M5.07%+348,000Timeline
SSNCSS&C TECH HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 520,954 shares; 2024Q4: 647,954 shares; 2025Q1: 647,954 shares 647,954$54.1M4.82%0Timeline
SWSMURFIT WESTROCK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,095,797 shares; 2024Q4: 1,160,297 shares; 2025Q1: 1,160,297 shares 1,160,297$52.3M4.66%0Timeline
FAFFIRST AMERN FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 697,604 shares; 2024Q4: 697,604 shares; 2025Q1: 739,604 shares 739,604$48.5M4.33%+42,000Timeline
SIGSIGNET JEWELERS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 532,000 shares; 2024Q4: 596,000 shares; 2025Q1: 795,000 shares 795,000$46.2M4.11%+199,000Timeline
GPIGROUP 1 AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 253,726 shares; 2024Q4: 142,226 shares; 2025Q1: 114,476 shares 114,476$43.7M3.9%-27,750Timeline
CMCSACOMCAST CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,288,748 shares; 2024Q4: 1,110,748 shares; 2025Q1: 1,110,748 shares 1,110,748$41M3.65%0Timeline
BCBRUNSWICK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 736,467 shares; 2024Q4: 680,467 shares; 2025Q1: 733,467 shares 733,467$39.5M3.52%+53,000Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 246,680 shares; 2024Q4: 216,680 shares; 2025Q1: 216,680 shares 216,680$33.5M2.99%0Timeline
SHCSOTERA HEALTH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,257,739 shares; 2024Q4: 2,647,739 shares; 2025Q1: 2,817,739 shares 2,817,739$32.9M2.93%+170,000Timeline
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 897,897 shares; 2024Q4: 827,897 shares; 2025Q1: 884,897 shares 884,897$29.4M2.62%+57,000Timeline
ABGASBURY AUTOMOTIVE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,929 shares; 2024Q4: 128,629 shares; 2025Q1: 128,629 shares 128,629$28.4M2.53%0Timeline
GPNGLOBAL PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 231,300 shares; 2024Q4: 244,300 shares; 2025Q1: 244,300 shares 244,300$23.9M2.13%0Timeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 448,878 shares 448,878$21.7M1.93%newTimeline
GDRXGOODRX HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,720,185 shares; 2024Q4: 4,885,747 shares; 2025Q1: 4,885,747 shares 4,885,747$21.5M1.92%0Timeline
CRLCHARLES RIV LABS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 111,740 shares; 2024Q4: 111,740 shares; 2025Q1: 140,240 shares 140,240$21.1M1.88%+28,500Timeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 315,310 shares; 2024Q4: 512,760 shares; 2025Q1: 398,510 shares 398,510$18.7M1.66%-114,250Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 419,000 shares; 2024Q4: 503,000 shares; 2025Q1: 646,100 shares 646,100$16.2M1.44%+143,100Timeline
CACICACI INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,123 shares 42,123$15.5M1.38%newTimeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 68,350 shares; 2024Q4: 188,850 shares; 2025Q1: 333,850 shares 333,850$13.7M1.22%+145,000Timeline
NICENICE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 70,000 shares; 2025Q1: 80,000 shares 80,000$12.3M1.1%+10,000Timeline
FDXFEDEX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,690 shares; 2024Q4: 48,330 shares; 2025Q1: 48,330 shares 48,330$11.8M1.05%0Timeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,809 shares; 2024Q4: 316,809 shares; 2025Q1: 316,809 shares 316,809$11.6M1.03%0Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 407,197 shares; 2024Q4: 115,197 shares; 2025Q1: 73,197 shares 73,197$10M0.89%-42,000Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,470 shares; 2024Q4: 11,470 shares; 2025Q1: 16,470 shares 16,470$9.49M0.85%+5,000Timeline
GILGILDAN ACTIVEWEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 231,041 shares; 2024Q4: 231,041 shares; 2025Q1: 211,041 shares 211,041$9.33M0.83%-20,000Timeline
GBTCGRAYSCALE BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,500 shares; 2024Q4: 123,500 shares; 2025Q1: 123,500 shares 123,500$8.05M0.72%0Timeline
CARAVIS BUDGET GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 96,775 shares 96,775$7.35M0.65%newTimeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 101,000 shares; 2024Q4: 42,000 shares; 2025Q1: 38,000 shares 38,000$6.81M0.61%-4,000Timeline
SNXTD SYNNEX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 57,000 shares 57,000$5.93M0.53%newTimeline
TFSLTFS FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 453,043 shares 453,043$5.61M0.5%newTimeline
TBLATABOOLA.COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,446,541 shares; 2024Q4: 1,446,541 shares; 2025Q1: 1,893,541 shares 1,893,541$5.59M0.5%+447,000Timeline
MCYMERCURY GENL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 176,700 shares; 2024Q4: 176,700 shares; 2025Q1: 98,218 shares 98,218$5.49M0.49%-78,482Timeline
SNBRQSLEEP NUMBER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 690,000 shares; 2024Q4: 690,000 shares; 2025Q1: 690,000 shares 690,000$4.37M0.39%0Timeline
LAWCS DISCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 966,531 shares; 2024Q4: 1,016,531 shares; 2025Q1: 1,016,531 shares 1,016,531$4.16M0.37%0Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 106,000 shares 106,000$2.65M0.24%newTimeline
BANDBANDWIDTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,721 shares; 2024Q4: 180,721 shares; 2025Q1: 180,721 shares 180,721$2.37M0.21%0Timeline
TSEOQTRINSEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 281,279 shares; 2024Q4: 281,279 shares; 2025Q1: 281,279 shares 281,279$1.04M0.09%0Timeline
BTCGRAYSCALE BITCOIN MINI TR ETQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 24,700 shares; 2025Q1: 24,700 shares 24,700$901K0.08%0Timeline
ONTOONTO INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 5,079 shares 5,079$616K0.05%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
CCITIGROUP INC COMcall245,000$17.4M-327,000
XLESELECT SECTOR SPDR TR SHSput50,000$4.67Mnew
GTGOODYEAR TIRE & RUBR CO COMcall300,000$2.77M0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
LBTYALIBERTY GLOBAL LTD549,178$7.01Mshares
ROOTROOT INC94,200$6.84Mshares
BCSBARCLAYS PLC400,000$5.32Mcall
CCICROWN CASTLE INC31,000$2.81Mshares
TDOCTELADOC HEALTH INC225,000$2.05Mshares
T-Rex 2X Long MSTR Daily Ta…T-Rex 2X Long MSTR Daily Target E…176,000$1.34Mput

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-002040 base2025-05-15acceptance time not in the bulk data set