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Lakewood Capital Management, LP
Lakewood Capital Management, LP is a New York-based hedge fund founded in 2007. The firm manages Lakewood Capital Partners, LP and Lakewood Capital Offshore Fund, Ltd. It is an SEC-registered investment adviser serving institutional and high-net-worth clients, with a focus on fundamental analysis and value-driven investment. The firm oversees approximately $1.3 billion in assets and employs a team of professionals specializing in equity research and portfolio management.
Investment Strategy
Lakewood Capital Management applies a fundamental, research-driven investment strategy primarily focused on equity securities. The firm seeks to generate risk-adjusted returns by taking both long and short positions while employing rigorous bottom-up analysis. Its approach emphasizes identifying undervalued securities and opportunistically investing across sectors and geographies to capitalize on information inefficiencies. The firm aims for capital preservation and consistent performance regardless of market cycles, leveraging deep due diligence and flexible portfolio construction.
Latest 13F Filing Activity
Lakewood Capital Management, LP filed their most recent 13F report on Jun 30, 2025 disclosing 47 equity positions and 2 options positions with a total 13F market value of $1B. The fund increased holdings in Iqvia HLDGS Inc., Icon PLC, Wex Inc. among other positions. Lakewood Capital Management, LP reduced exposure to Caci Intl Inc., Fedex Corp., The Cigna Group among others.
Top Holdings
Equity Positions (47)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C CI | THE CIGNA GROUP | 9.06% | $121.4M | 367,107 | $223.68 | $330.58 | -$8.1M |
C C | CITIGROUP INC | 6.34% | $84.9M | 997,839 | $56.85 | $85.12 | +$21.9M |
A ARW | ARROW ELECTRS INC | 5.94% | $79.6M | 624,360 | $109.71 | $127.43 | +$22.7M |
E ELV | ELEVANCE HEALTH INC | 5.87% | $78.6M | 202,150 | $424.96 | $388.96 | -$4.1M |
K KMPR | KEMPER CORP | 5.01% | $67.1M | 1,039,090 | $55.81 | $64.54 | +$4.4M |
Options Positions (2)
Industry Allocation
Investment Team (8)
| Name | Role | Location | |
|---|---|---|---|
 | Analyst | New York, NY , United States | |
D Debra Manche | Partner | New York, NY , United States | |
 | Head Trader and Partner | New York, NY , United States | |
J Jared Marks | Analyst | New York, NY , United States | |
 | Partner | New York, NY , United States | |
| Partner | New York, NY , United States | ||
 | Analyst | New York, NY , United States | |
M Matthew Sporer | Partner | New York, NY , United States |
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