Lakewood Capital Management Q2 2026 Portfolio Changes

As of June 30, 2026, Lakewood Capital Management, Lp's portfolio held a total value of $1,890,737,704 (approximately $1.89 billion). The investment strategy appears focused on specific sectors and individual stock performance.

Across various sectors, the fund engaged in notable buying activities during this quarter:

• COPA HOLDINGS SA, identified by its ticker P31076105, saw Lakewood increase its position significantly. The fund acquired an additional 494,900 shares (representing a 100% increase in holdings), adding substantial value to this holding.
• CDW CORP, ticker CDW, experienced a large purchase. Lakewood bought an additional 232,500 shares (a 92.63% increase), contributing significantly to its portfolio allocation.
• META PLATFORMS INC, ticker META, was another significant addition. The fund increased its stake by acquiring an additional 45,130 shares (a 63.69% increase in this position).
• SPOT, although not detailed here beyond its ticker symbol, was noted as a significant buy by Lakewood Capital Management.
• Within the Technology sector, other notable purchases included SS&C TECH HLDGS, ticker SSNC (or CCS), where holdings increased by a full percentage point to 1.81% allocation.

Conversely, Lakewood also divested from certain positions during the quarter:

• SCHEIN HENRY INC, ticker HSIC, saw a substantial reduction. The fund sold an additional 165,000 shares (resulting in a -62.98% change for this stock), decreasing its allocation.
• ISHARES BITCOIN TRUST ETF, ticker IBIT, was another position Lakewood sold significantly. The fund disposed of an additional 183,000 shares (resulting in a -61.72% change), reducing its allocation.

The portfolio's sector allocations as of June 30, 2026, show diversification across several industries:

• Lakewood Capital Management holds the largest allocation in Healthcare at approximately $385.7 million (20.4% of total portfolio).
• Financial Services is another significant sector, accounting for about $328.1 million or 17.36%.
• The Technology sector holds roughly $284.0 million (15.02%) worth of stock in the portfolio.
• Consumer Cyclical allocation stands at approximately $249.0 million, representing about 13.17%.

The fund's activity resulted in a total holding count increase to 56 positions and indicates significant shifts within its portfolio structure:

• Several holdings experienced substantial changes: TFS FINL CORP, ticker TFSL, saw a large reduction (-26.98% change), while others like AXTA and IOT maintained their percentage allocations but showed absolute share increases.
• The overall portfolio allocation for the Technology sector is around $284 million (15.02%), reflecting investments in companies such as CDW, META, SSNC, and GPI.

For further details on Lakewood Capital Management's investment activities or to explore specific holdings like CDW CORP, please refer to the official filing data provided. The full list of holdings and their allocations can be found in the top holdings section.