Lakewood Asset Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 24, 2025), Lakewood Asset Management LLC reported 101 stock positions worth $148.2 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.3% of the portfolio, followed by SS SPDR BB 1-3M T-Bill ETF (BIL, 6.1%) and Schwab Fndmntl US LRG Co. ETF (FNDX, 5.1%). Compared with Q4 2024, it opened 3 new positions, sold out of 22, added to 47 and reduced 42. The biggest buy was a new position in U-Haul Holding Co.-Non Voting (UHAL.B) and the biggest sale Microsoft (MSFT, shares −44%).
- Most Recent 13F
- Q2 2026
- Location
- NAPERVILLE, IL
- CIK
- 0001966581
- Portfolio Value
- $148.2M (Q1 2025)
- SEC Filing
- 0001754960-25-000248 ↗ filed Apr 24, 2025
Holdings Value
Holdings 101 stocks · $148.2M
| BRK.B Berkshire Hathaway Inc. Class B | 8.25% | 22,958 | $12.2M | Add +6.9% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 6.08% | 98,158 | $9.0M | Reduce -5.0% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 5.12% | 321,537 | $7.6M | Reduce -12.3% |
| MCK McKesson Corp. | 4.56% | 10,036 | $6.8M | Add +36.3% |
| AZO AutoZone Inc. | 3.70% | 1,439 | $5.5M | Add +38.4% |
| VT Vanguard Tot World STK ETF | 3.43% | 43,809 | $5.1M | Add +4.4% |
| WSM Williams-Sonoma Inc. | 3.07% | 28,754 | $4.5M | Add +23.1% |
| COP Conocophillips | 2.86% | 40,302 | $4.2M | Add +38.1% |
| AAPL Apple Inc. | 2.81% | 18,756 | $4.2M | Reduce -0.2% |
| EBAY eBay Inc. | 2.80% | 61,230 | $4.1M | Add +32.3% |
| NVR NVR Inc. | 2.62% | 535 | $3.9M | Add +36.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.41% | 85,493 | $3.6M | Add +12.1% |
| BKNG Booking Holdings Inc. | 2.06% | 662 | $3.0M | Add +34.5% |
| VTI VG Morningstar TS MKT ETF-US | 2.00% | 10,810 | $3.0M | Reduce -14.6% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 1.89% | 15,672 | $2.8M | Add +34.4% |
| RTX RTX Corp. | 1.88% | 21,002 | $2.8M | Reduce -0.8% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.77% | 44,267 | $2.6M | New |
| FANG Diamondback Energy Inc. | 1.64% | 15,219 | $2.4M | Add +34.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.56% | 55,259 | $2.3M | Add +40.8% |
| KMX Carmax Inc. | 1.56% | 29,601 | $2.3M | Add +36.1% |
| BMY Bristol-Myers Squibb Co. | 1.52% | 37,030 | $2.3M | Add +37.8% |
| HPE Hewlett Packard Enterprise | 1.45% | 139,013 | $2.1M | Add +32.4% |
| DKS Dick's Sporting Goods Inc. | 1.43% | 10,534 | $2.1M | Add +37.5% |
| RF Regions Financial Corp. | 1.43% | 97,244 | $2.1M | Add +34.2% |
| VTIP Vanguard Short-Term Tips | 1.33% | 39,543 | $2.0M | Add +24.3% |
| MHK Mohawk Industries Inc. | 1.16% | 15,093 | $1.7M | Add +33.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.13% | 46,431 | $1.7M | Reduce -0.3% |
| FNDA Schwab Fndmntl US SM Co. ETF | 1.12% | 60,664 | $1.7M | Reduce -15.6% |
| PTLO Portillo's Inc. Class A | 1.09% | 135,383 | $1.6M | Add +29.4% |
| MSFT Microsoft Corp. | 1.08% | 4,271 | $1.6M | Reduce -43.6% |
| IVV iShares Core S&P 500 ETF | 0.98% | 2,577 | $1.4M | No change |
| ULTA Ulta Beauty Inc. | 0.96% | 3,889 | $1.4M | Add +32.6% |
| VPLS Vanguard Core-Plus Bond ETF | 0.91% | 17,464 | $1.4M | Add +65.2% |
| LEN Lennar Corp. Class A | 0.89% | 11,452 | $1.3M | Add +29.9% |
| VUSB Vanguard Ultra Short Bond Et | 0.86% | 25,495 | $1.3M | Add +90.5% |
| MKL Markel Group Inc. | 0.82% | 651 | $1.2M | Add +33.4% |
| LEA Lear Corp. | 0.81% | 13,659 | $1.2M | Add +37.2% |
| DBX Dropbox Inc. Class A | 0.79% | 43,741 | $1.2M | Add +35.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.76% | 22,792 | $1.1M | Add +0.5% |
| EPD Enterprise Products Partners | 0.64% | 27,803 | $949K | Reduce -44.6% |
| IWD iShares Russell 1000 Value E | 0.64% | 5,036 | $948K | Add +5.4% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.64% | 12,063 | $943K | Add +33.4% |
| CARR Carrier Global Corp. | 0.62% | 14,431 | $915K | Reduce -36.9% |
| AIG American International Group | 0.56% | 9,587 | $833K | Reduce -31.0% |
| APA Apa Corp. | 0.54% | 38,047 | $800K | Add +34.7% |
| META Meta Platforms Inc. Class A | 0.53% | 1,356 | $782K | No change |
| VOO Vanguard S&P 500 ETF | 0.49% | 1,421 | $730K | Reduce -6.1% |
| CLMB Climb Global Solutions Inc. | 0.49% | 6,572 | $728K | Reduce -33.9% |
| ACIW Aci Worldwide Inc. | 0.48% | 12,922 | $707K | Add +96.7% |
| BN Brookfield Corp. | 0.44% | 12,553 | $658K | Reduce -36.2% |
| ATKR Atkore Inc. | 0.42% | 10,437 | $626K | Add +15.2% |
| JNJ Johnson & Johnson | 0.41% | 3,625 | $601K | Reduce -38.1% |
| CAT Caterpillar Inc. | 0.40% | 1,801 | $594K | Reduce -45.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.39% | 1,022 | $572K | Add +0.6% |
| CTVA Corteva Inc. | 0.36% | 8,551 | $538K | Reduce -44.3% |
| ADI Analog Devices Inc. | 0.35% | 2,582 | $521K | Reduce -22.8% |
| VEU Vanguard Ftse All-World Ex-U | 0.33% | 8,147 | $494K | Add +0.1% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.33% | 4,875 | $490K | Add +4.2% |
| CMI Cummins Inc. | 0.33% | 1,549 | $486K | Reduce -36.5% |
| JPM JPMorgan Chase & Co. | 0.33% | 1,966 | $482K | Reduce -37.0% |
| GRBK Green Brick Partners Inc. | 0.32% | 8,207 | $479K | Reduce -0.7% |
| CVCO Cavco Industries Inc. | 0.31% | 898 | $467K | Reduce -2.3% |
| BIP Brookfield Infrastructure Pa | 0.31% | 15,438 | $460K | Reduce -44.0% |
| BBSI Barrett Business SVCS Inc. | 0.29% | 10,600 | $436K | Reduce -1.8% |
| SDY SS SPDR S&P Dividend ETF | 0.29% | 3,156 | $428K | No change |
| AVGO Broadcom Inc. | 0.28% | 2,497 | $418K | Reduce -30.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.28% | 2,189 | $408K | Reduce -4.0% |
| VXUS Vanguard Total Intl Stock | 0.27% | 6,411 | $398K | Reduce -54.6% |
| PRDO Perdoceo Education Corp. | 0.26% | 15,429 | $389K | Reduce -1.2% |
| ACN Accenture PLC Class A | 0.24% | 1,129 | $352K | Reduce -55.7% |
| OSBC Old Second Bancorp Inc. | 0.23% | 20,070 | $334K | Reduce -1.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 700 | $328K | No change |
| HCC Warrior Met Coal Inc. | 0.22% | 6,815 | $325K | Add +0.3% |
| BSV Vanguard Short-Term Bond ETF | 0.21% | 3,942 | $309K | Add +0.6% |
| VVX V2X Inc. | 0.21% | 6,240 | $306K | Reduce -1.3% |
| CVX Chevron Corp. | 0.19% | 1,715 | $287K | Reduce -39.4% |
| UNH Unitedhealth Group Inc. | 0.19% | 537 | $281K | Reduce -5.0% |
| UHAL U-Haul Holding Co. | 0.19% | 4,297 | $281K | Add +32.7% |
| XOM Exxon Mobil Corp. | 0.19% | 2,356 | $280K | Reduce -67.8% |
| FNDC Schwab Fndmnt Intl SM Eq ETF | 0.18% | 7,565 | $274K | Add +0.4% |
| IT Gartner Inc. | 0.18% | 651 | $273K | No change |
| ORCL Oracle Corp. | 0.18% | 1,952 | $273K | Reduce -18.9% |
| SD Sandridge Energy Inc. | 0.18% | 23,242 | $265K | Add +49.4% |
| VTEI Vanguard Int Tax-Exempt Bond | 0.17% | 2,600 | $257K | Add +3.7% |
| PKBK Parke Bancorp Inc. | 0.17% | 13,569 | $256K | Add +0.6% |
| V Visa Inc. Class A | 0.17% | 713 | $250K | Add +0.1% |
| ABBV Abbvie Inc. | 0.17% | 1,177 | $247K | Reduce -25.7% |
| GD General Dynamics Corp. | 0.16% | 868 | $237K | Reduce -44.3% |
| AMGN Amgen Inc. | 0.16% | 754 | $235K | Reduce -69.6% |
| KMI Kinder Morgan Inc. | 0.14% | 7,441 | $212K | Reduce -41.6% |
| UPS United Parcel Service Class B | 0.14% | 1,872 | $206K | Reduce -68.7% |
| BOOM DMC Global Inc. | 0.13% | 22,257 | $187K | No change |
| KRMD Koru Medical Systems Inc. | 0.12% | 71,945 | $183K | Add +5.5% |
| EGY Vaalco Energy Inc. | 0.12% | 48,563 | $183K | Add +0.0% |
| PANL Pangaea Logistics Solutions | 0.12% | 37,237 | $177K | No change |
| FONR Fonar Corp. | 0.10% | 11,072 | $155K | No change |
| AOUT American Outdoor Brands Inc. | 0.10% | 11,593 | $141K | Reduce -0.9% |
| BTE Baytex Energy Corp. | 0.09% | 60,350 | $135K | No change |
| FLL Full House Resorts Inc. filed as FULL HSE RESORTS INC | 0.08% | 30,000 | $125K | New |
| CRWS Crown Crafts Inc. | 0.07% | 27,745 | $101K | Reduce -0.8% |
| AMPY Amplify Energy Corp. | 0.05% | 18,666 | $70K | New |
Portfolio Sells Q4 2024 → Q1 2025
| MSFT Microsoft Corp. | Reduce -43.6% | 1.08% | −1.12 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Reduce -12.3% | 5.12% | −0.85 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.55 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -14.6% | 2.00% | −0.52 |
| CARR Carrier Global Corp. | Reduce -36.9% | 0.62% | −0.46 |
| EPD Enterprise Products Partners | Reduce -44.6% | 0.64% | −0.44 |
| AAPL Apple Inc. | Reduce -0.2% | 2.81% | −0.43 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -5.0% | 6.08% | −0.43 |
| CAT Caterpillar Inc. | Reduce -45.5% | 0.40% | −0.42 |
| FITB Fifth Third Bancorp | Sold out | 0.00% | −0.39 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.38 |
| UPS United Parcel Service Class B | Reduce -68.7% | 0.14% | −0.38 |
| ACN Accenture PLC Class A | Reduce -55.7% | 0.24% | −0.38 |
| CLMB Climb Global Solutions Inc. | Reduce -33.9% | 0.49% | −0.38 |
| XOM Exxon Mobil Corp. | Reduce -67.8% | 0.19% | −0.35 |
| FNDA Schwab Fndmntl US SM Co. ETF | Reduce -15.6% | 1.12% | −0.35 |
| ECL Ecolab Inc. | Sold out | 0.00% | −0.34 |
| BN Brookfield Corp. | Reduce -36.2% | 0.44% | −0.33 |
| VXUS Vanguard Total Intl Stock | Reduce -54.6% | 0.27% | −0.30 |
| BIP Brookfield Infrastructure Pa | Reduce -44.0% | 0.31% | −0.29 |
| AVGO Broadcom Inc. | Reduce -30.1% | 0.28% | −0.29 |
| AMGN Amgen Inc. | Reduce -69.6% | 0.16% | −0.29 |
| PM Philip Morris International | Sold out | 0.00% | −0.27 |
| CMI Cummins Inc. | Reduce -36.5% | 0.33% | −0.26 |
| CTVA Corteva Inc. | Reduce -44.3% | 0.36% | −0.24 |
| ZBH Zimmer Biomet Holdings Inc. | Sold out | 0.00% | −0.23 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −0.23 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −0.20 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.20 |
| JPM JPMorgan Chase & Co. | Reduce -37.0% | 0.33% | −0.19 |
| MLR Miller Industries Inc. | Sold out | 0.00% | −0.19 |
| WGO Winnebago Industries | Sold out | 0.00% | −0.18 |
| JNJ Johnson & Johnson | Reduce -38.1% | 0.41% | −0.18 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.17 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.17 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.16 |
| LIN Linde PLC | Sold out | 0.00% | −0.16 |
| WLFC Willis Lease Finance Corp. | Sold out | 0.00% | −0.16 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.15 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.15 |
| EBF Ennis Inc. | Sold out | 0.00% | −0.14 |
| ADI Analog Devices Inc. | Reduce -22.8% | 0.35% | −0.14 |
| AIG American International Group | Reduce -31.0% | 0.56% | −0.13 |
| HGTY Hagerty Inc. Class A | Sold out | 0.00% | −0.12 |
| GD General Dynamics Corp. | Reduce -44.3% | 0.16% | −0.12 |
| KMI Kinder Morgan Inc. | Reduce -41.6% | 0.14% | −0.10 |
| ORCL Oracle Corp. | Reduce -18.9% | 0.18% | −0.09 |
| CVX Chevron Corp. | Reduce -39.4% | 0.19% | −0.09 |
| VOO Vanguard S&P 500 ETF | Reduce -6.1% | 0.49% | −0.07 |
| SOLO BRANDS INC | Sold out | 0.00% | −0.07 |
Portfolio Buys Q4 2024 → Q1 2025
| UHAL.B U-Haul Holding Co.-Non Voting | New | 1.77% | +1.77 |
| MCK McKesson Corp. | Add +36.3% | 4.56% | +1.67 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +6.9% | 8.25% | +1.55 |
| AZO AutoZone Inc. | Add +38.4% | 3.70% | +1.41 |
| COP Conocophillips | Add +38.1% | 2.86% | +0.86 |
| EBAY eBay Inc. | Add +32.3% | 2.80% | +0.82 |
| SLB SLB Ltd. | Add +40.8% | 1.56% | +0.52 |
| BMY Bristol-Myers Squibb Co. | Add +37.8% | 1.52% | +0.48 |
| PTLO Portillo's Inc. Class A | Add +29.4% | 1.09% | +0.41 |
| NVR NVR Inc. | Add +36.5% | 2.62% | +0.41 |
| VUSB Vanguard Ultra Short Bond Et | Add +90.5% | 0.86% | +0.40 |
| MTB M & T Bank Corp. | Add +34.4% | 1.89% | +0.38 |
| BKNG Booking Holdings Inc. | Add +34.5% | 2.06% | +0.37 |
| FANG Diamondback Energy Inc. | Add +34.2% | 1.64% | +0.36 |
| VPLS Vanguard Core-Plus Bond ETF | Add +65.2% | 0.91% | +0.36 |
| KMX Carmax Inc. | Add +36.1% | 1.56% | +0.33 |
| VTIP Vanguard Short-Term Tips | Add +24.3% | 1.33% | +0.27 |
| RF Regions Financial Corp. | Add +34.2% | 1.43% | +0.25 |
| ACIW Aci Worldwide Inc. | Add +96.7% | 0.48% | +0.24 |
| MKL Markel Group Inc. | Add +33.4% | 0.82% | +0.24 |
| MHK Mohawk Industries Inc. | Add +33.2% | 1.16% | +0.23 |
| DKS Dick's Sporting Goods Inc. | Add +37.5% | 1.43% | +0.23 |
| LEA Lear Corp. | Add +37.2% | 0.81% | +0.16 |
| DBX Dropbox Inc. Class A | Add +35.1% | 0.79% | +0.12 |
| CF CF Industries Holdings Inc. | Add +33.4% | 0.64% | +0.10 |
| BAC Bank of America Corp. | Add +12.1% | 2.41% | +0.10 |
| APA Apa Corp. | Add +34.7% | 0.54% | +0.09 |
| WSM Williams-Sonoma Inc. | Add +23.1% | 3.07% | +0.09 |
| FLL Full House Resorts Inc. | New | 0.08% | +0.08 |
| ULTA Ulta Beauty Inc. | Add +32.6% | 0.96% | +0.08 |
| LEN Lennar Corp. Class A | Add +29.9% | 0.89% | +0.06 |
| SD Sandridge Energy Inc. | Add +49.4% | 0.18% | +0.05 |
| AMPY Amplify Energy Corp. | New | 0.05% | +0.05 |
| UHAL U-Haul Holding Co. | Add +32.7% | 0.19% | +0.04 |
| VT Vanguard Tot World STK ETF | Add +4.4% | 3.43% | +0.03 |
| IWD iShares Russell 1000 Value E | Add +5.4% | 0.64% | +0.03 |
| V Visa Inc. Class A | Add +0.1% | 0.17% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +0.1% | 0.33% | +0.01 |
| FNDC Schwab Fndmnt Intl SM Eq ETF | Add +0.4% | 0.18% | +0.01 |
| VTES Vanguard SH Term Tax-Ex Bond | Add +4.2% | 0.33% | +0.01 |
| VTEI Vanguard Int Tax-Exempt Bond | Add +3.7% | 0.17% | +0.00 |
| BSV Vanguard Short-Term Bond ETF | Add +0.6% | 0.21% | −0.00 |
| PKBK Parke Bancorp Inc. | Add +0.6% | 0.17% | −0.02 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +0.5% | 0.76% | −0.02 |
| EGY Vaalco Energy Inc. | Add +0.0% | 0.12% | −0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.6% | 0.39% | −0.02 |
| HCC Warrior Met Coal Inc. | Add +0.3% | 0.22% | −0.03 |
| KRMD Koru Medical Systems Inc. | Add +5.5% | 0.12% | −0.06 |
| HPE Hewlett Packard Enterprise | Add +32.4% | 1.45% | −0.10 |
| ATKR Atkore Inc. | Add +15.2% | 0.42% | −0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 107 | $182.3M | FNDX, VPLS, VT, BRK.B, VBIL |
| Q1 2026 | 107 | $156.4M | FNDX, BRK.B, VBIL, VT, VPLS |
| Q4 2025 | 105 | $170.2M | BRK.B, FNDX, VBIL, VT, VPLS |
| Q3 2025 | 104 | $165.4M | BRK.B, FNDX, BIL, VT, AZO |
| Q2 2025 | 101 | $149.7M | BRK.B, FNDX, BIL, VT, AZO |
| Q1 2025 | 101 | $148.2M | BRK.B, BIL, FNDX, MCK, AZO |
| Q4 2024 | 120 | $145.2M | BRK.B, BIL, FNDX, VT, AAPL |
| Q3 2024 | 119 | $146.4M | BIL, BRK.B, FNDX, VT, AAPL |
| Q2 2024 | 116 | $143.4M | BIL, BRK.B, FNDX, MCK, AAPL |
| Q1 2024 | 115 | $147.1M | BIL, BRK.B, FNDX, WSM, MCK |