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LAKEWOOD CAPITAL MANAGEMENT, LP

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13F filer, CIK 1424381, New York, NY

LAKEWOOD CAPITAL MANAGEMENT, LP reported $1,339,747,354 across 49 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 52.15% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003327

Period
2025-06-30
Reported value
$1.34B
Holdings
49
Top 10 weight
52.15%
New
10
Sold out
8

Part of the filer group LAKEWOOD CAPITAL MANAGEMENT, LP

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IQVnew+224,200$35.3M
ICLRnew+195,200$28.4M
WEXnew+177,968$26.1M
TFSLadded+1,660,339$21.5M
BZHnew+701,006$15.7M

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
CACIexited-42,123-$15.5M
SIGreduced-151,000-$12M
FDXexited-48,330-$11.8M
CIreduced-26,500-$8.76M
CARexited-96,775-$7.35M

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, Q2 2025

Share positions as resolved from 13F-HR 0001172661-25-003327, largest first. % of portfolio is the value over $1,313,632,954, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 302,357 shares; 2024Q4: 355,107 shares; 2025Q1: 393,607 shares; 2025Q2: 367,107 shares 367,107$121M9.24%-26,500Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,266,800 shares; 2024Q4: 846,500 shares; 2025Q1: 887,839 shares; 2025Q2: 997,839 shares 997,839$84.9M6.47%+110,000Timeline
ARWARROW ELECTRS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 199,360 shares; 2025Q1: 547,360 shares; 2025Q2: 624,360 shares 624,360$79.6M6.06%+77,000Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,500 shares; 2024Q4: 178,650 shares; 2025Q1: 190,150 shares; 2025Q2: 202,150 shares 202,150$78.6M5.99%+12,000Timeline
KMPRKEMPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,026,998 shares; 2024Q4: 938,090 shares; 2025Q1: 938,090 shares; 2025Q2: 1,039,090 shares 1,039,090$67.1M5.11%+101,000Timeline
SSNCSS&C TECH HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 520,954 shares; 2024Q4: 647,954 shares; 2025Q1: 647,954 shares; 2025Q2: 769,954 shares 769,954$63.8M4.85%+122,000Timeline
SIGSIGNET JEWELERS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 532,000 shares; 2024Q4: 596,000 shares; 2025Q1: 795,000 shares; 2025Q2: 644,000 shares 644,000$51.2M3.9%-151,000Timeline
SWSMURFIT WESTROCK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,095,797 shares; 2024Q4: 1,160,297 shares; 2025Q1: 1,160,297 shares; 2025Q2: 1,160,297 shares 1,160,297$50.1M3.81%0Timeline
FAFFIRST AMERN FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 697,604 shares; 2024Q4: 697,604 shares; 2025Q1: 739,604 shares; 2025Q2: 739,604 shares 739,604$45.4M3.46%0Timeline
GPIGROUP 1 AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 253,726 shares; 2024Q4: 142,226 shares; 2025Q1: 114,476 shares; 2025Q2: 98,476 shares 98,476$43M3.27%-16,000Timeline
BCBRUNSWICK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 736,467 shares; 2024Q4: 680,467 shares; 2025Q1: 733,467 shares; 2025Q2: 733,467 shares 733,467$40.5M3.08%0Timeline
CMCSACOMCAST CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,288,748 shares; 2024Q4: 1,110,748 shares; 2025Q1: 1,110,748 shares; 2025Q2: 1,110,748 shares 1,110,748$39.6M3.02%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 246,680 shares; 2024Q4: 216,680 shares; 2025Q1: 216,680 shares; 2025Q2: 223,180 shares 223,180$39.3M2.99%+6,500Timeline
IQVIQVIA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 224,200 shares 224,200$35.3M2.69%newTimeline
SHCSOTERA HEALTH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,257,739 shares; 2024Q4: 2,647,739 shares; 2025Q1: 2,817,739 shares; 2025Q2: 3,062,739 shares 3,062,739$34.1M2.59%+245,000Timeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 448,878 shares; 2025Q2: 485,878 shares 485,878$28.4M2.16%+37,000Timeline
ICLRICON PUB LTD COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 195,200 shares 195,200$28.4M2.16%newTimeline
TFSLTFS FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 453,043 shares; 2025Q2: 2,113,382 shares 2,113,382$27.4M2.08%+1,660,339Timeline
ABGASBURY AUTOMOTIVE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,929 shares; 2024Q4: 128,629 shares; 2025Q1: 128,629 shares; 2025Q2: 113,629 shares 113,629$27.1M2.06%-15,000Timeline
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 897,897 shares; 2024Q4: 827,897 shares; 2025Q1: 884,897 shares; 2025Q2: 884,897 shares 884,897$26.3M2%0Timeline
WEXWEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 177,968 shares 177,968$26.1M1.99%newTimeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 315,310 shares; 2024Q4: 512,760 shares; 2025Q1: 398,510 shares; 2025Q2: 398,510 shares 398,510$24.4M1.86%0Timeline
CRLCHARLES RIV LABS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 111,740 shares; 2024Q4: 111,740 shares; 2025Q1: 140,240 shares; 2025Q2: 140,240 shares 140,240$21.3M1.62%0Timeline
GDRXGOODRX HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,720,185 shares; 2024Q4: 4,885,747 shares; 2025Q1: 4,885,747 shares; 2025Q2: 4,157,274 shares 4,157,274$20.7M1.58%-728,473Timeline
GPNGLOBAL PMTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 231,300 shares; 2024Q4: 244,300 shares; 2025Q1: 244,300 shares; 2025Q2: 244,300 shares 244,300$19.6M1.49%0Timeline
GILGILDAN ACTIVEWEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 231,041 shares; 2024Q4: 231,041 shares; 2025Q1: 211,041 shares; 2025Q2: 331,041 shares 331,041$16.3M1.24%+120,000Timeline
BZHBEAZER HOMES USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 701,006 shares 701,006$15.7M1.19%newTimeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 48,000 shares 48,000$15M1.14%newTimeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 419,000 shares; 2024Q4: 503,000 shares; 2025Q1: 646,100 shares; 2025Q2: 525,100 shares 525,100$13.8M1.05%-121,000Timeline
NICENICE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 70,000 shares; 2025Q1: 80,000 shares; 2025Q2: 80,000 shares 80,000$13.5M1.03%0Timeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,809 shares; 2024Q4: 316,809 shares; 2025Q1: 316,809 shares; 2025Q2: 316,809 shares 316,809$12.3M0.94%0Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,470 shares; 2024Q4: 11,470 shares; 2025Q1: 16,470 shares; 2025Q2: 16,470 shares 16,470$12.2M0.93%0Timeline
GLNGGOLAR LNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 290,000 shares 290,000$11.9M0.91%newTimeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 68,350 shares; 2024Q4: 188,850 shares; 2025Q1: 333,850 shares; 2025Q2: 343,850 shares 343,850$11.2M0.85%+10,000Timeline
MCYMERCURY GENL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 176,700 shares; 2024Q4: 176,700 shares; 2025Q1: 98,218 shares; 2025Q2: 158,218 shares 158,218$10.7M0.81%+60,000Timeline
GBTCGRAYSCALE BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,500 shares; 2024Q4: 123,500 shares; 2025Q1: 123,500 shares; 2025Q2: 123,500 shares 123,500$10.5M0.8%0Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 407,197 shares; 2024Q4: 115,197 shares; 2025Q1: 73,197 shares; 2025Q2: 73,197 shares 73,197$10.4M0.79%0Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 101,000 shares; 2024Q4: 42,000 shares; 2025Q1: 38,000 shares; 2025Q2: 38,000 shares 38,000$8.08M0.62%0Timeline
TBLATABOOLA.COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,446,541 shares; 2024Q4: 1,446,541 shares; 2025Q1: 1,893,541 shares; 2025Q2: 1,893,541 shares 1,893,541$6.93M0.53%0Timeline
HIPOHIPPO HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 190,000 shares 190,000$5.31M0.4%newTimeline
LAWCS DISCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 966,531 shares; 2024Q4: 1,016,531 shares; 2025Q1: 1,016,531 shares; 2025Q2: 1,016,531 shares 1,016,531$4.44M0.34%0Timeline
BANDBANDWIDTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,721 shares; 2024Q4: 180,721 shares; 2025Q1: 180,721 shares; 2025Q2: 180,721 shares 180,721$2.87M0.22%0Timeline
JBSJBS N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 190,000 shares 190,000$2.78M0.21%newTimeline
STZCONSTELLATION BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 14,000 shares 14,000$2.28M0.17%newTimeline
SNBRQSLEEP NUMBER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 690,000 shares; 2024Q4: 690,000 shares; 2025Q1: 690,000 shares; 2025Q2: 287,009 shares 287,009$1.94M0.15%-402,991Timeline
BTCGRAYSCALE BITCOIN MINI TR ETQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 24,700 shares; 2025Q1: 24,700 shares; 2025Q2: 24,700 shares 24,700$1.18M0.09%0Timeline
Trinseo PLCTrinseo PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 281,279 shares; 2024Q4: 281,279 shares; 2025Q1: 281,279 shares; 2025Q2: 281,279 shares 281,279$878K0.07%0

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$20.9M0
RBLXROBLOX CORP Stockput50,000$5.26Mnew

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
CACICACI INTL INC42,123$15.5Mshares
FDXFEDEX CORP48,330$11.8Mshares
CARAVIS BUDGET GROUP INC96,775$7.35Mshares
SNXTD SYNNEX CORPORATION57,000$5.93Mshares
XLESELECT SECTOR SPDR TR50,000$4.67Mput
GTGOODYEAR TIRE & RUBR CO300,000$2.77Mcall
CZRCAESARS ENTERTAINMENT INC NE106,000$2.65Mshares
ONTOONTO INNOVATION INC5,079$616Kshares

How Q2 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 0001172661-25-003327 base2025-08-14acceptance time not in the bulk data set