Lakewood Asset Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 17, 2025), Lakewood Asset Management LLC reported 101 stock positions worth $149.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 7.4% of the portfolio, followed by Schwab Fndmntl US LRG Co. ETF (FNDX, 5.5%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 5.2%). Compared with Q1 2025, it opened 3 new positions, sold out of 3, added to 40 and reduced 47. The biggest buy was Hewlett Packard Enterprise (HPE, shares +1%) and the biggest sale McKesson (MCK, shares −35%).
- Most Recent 13F
- Q2 2026
- Location
- NAPERVILLE, IL
- CIK
- 0001966581
- Portfolio Value
- $149.7M (Q2 2025)
- SEC Filing
- 0001754960-25-000411 ↗ filed Jul 17, 2025
Holdings Value
Holdings 101 stocks · $149.7M
| BRK.B Berkshire Hathaway Inc. Class B | 7.43% | 22,899 | $11.1M | Reduce -0.3% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 5.50% | 335,309 | $8.2M | Add +4.3% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 5.17% | 84,383 | $7.7M | Reduce -14.0% |
| VT Vanguard Tot World STK ETF | 3.88% | 45,158 | $5.8M | Add +3.1% |
| AZO AutoZone Inc. | 3.49% | 1,407 | $5.2M | Reduce -2.2% |
| MCK McKesson Corp. | 3.18% | 6,505 | $4.8M | Reduce -35.2% |
| WSM Williams-Sonoma Inc. | 3.09% | 28,348 | $4.6M | Reduce -1.4% |
| EBAY eBay Inc. | 3.04% | 61,149 | $4.6M | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.67% | 84,567 | $4.0M | Reduce -1.1% |
| NVR NVR Inc. | 2.66% | 540 | $4.0M | Add +0.9% |
| COP Conocophillips | 2.66% | 44,337 | $4.0M | Add +10.0% |
| BKNG Booking Holdings Inc. | 2.53% | 653 | $3.8M | Reduce -1.4% |
| AAPL Apple Inc. | 2.25% | 16,397 | $3.4M | Reduce -12.6% |
| VTI VG Morningstar TS MKT ETF-US | 2.20% | 10,824 | $3.3M | Add +0.1% |
| RTX RTX Corp. | 2.04% | 20,895 | $3.1M | Reduce -0.5% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 2.04% | 15,708 | $3.0M | Add +0.2% |
| HPE Hewlett Packard Enterprise | 1.92% | 140,851 | $2.9M | Add +1.3% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.60% | 44,006 | $2.4M | Reduce -0.6% |
| RF Regions Financial Corp. | 1.54% | 98,223 | $2.3M | Add +1.0% |
| VTIP Vanguard Short-Term Tips | 1.51% | 45,055 | $2.3M | Add +13.9% |
| MSFT Microsoft Corp. | 1.42% | 4,267 | $2.1M | Reduce -0.1% |
| FANG Diamondback Energy Inc. | 1.40% | 15,223 | $2.1M | Add +0.0% |
| DKS Dick's Sporting Goods Inc. | 1.39% | 10,523 | $2.1M | Reduce -0.1% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.35% | 50,652 | $2.0M | Add +9.1% |
| KMX Carmax Inc. | 1.31% | 29,202 | $2.0M | Reduce -1.4% |
| VPLS Vanguard Core-Plus Bond ETF | 1.24% | 23,770 | $1.8M | Add +36.1% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.23% | 54,333 | $1.8M | Reduce -1.7% |
| ULTA Ulta Beauty Inc. | 1.21% | 3,870 | $1.8M | Reduce -0.5% |
| BMY Bristol-Myers Squibb Co. | 1.15% | 37,194 | $1.7M | Add +0.4% |
| FNDA Schwab Fndmntl US SM Co. ETF | 1.14% | 59,567 | $1.7M | Reduce -1.8% |
| IVV iShares Core S&P 500 ETF | 1.12% | 2,697 | $1.7M | Add +4.7% |
| PTLO Portillo's Inc. Class A | 1.05% | 135,049 | $1.6M | Reduce -0.3% |
| MHK Mohawk Industries Inc. | 1.00% | 14,296 | $1.5M | Reduce -5.3% |
| VUSB Vanguard Ultra Short Bond Et | 0.91% | 27,391 | $1.4M | Add +7.4% |
| MKL Markel Group Inc. | 0.87% | 654 | $1.3M | Add +0.5% |
| DBX Dropbox Inc. Class A | 0.84% | 43,742 | $1.3M | Add +0.0% |
| LEA Lear Corp. | 0.83% | 13,140 | $1.2M | Reduce -3.8% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.82% | 24,954 | $1.2M | Add +9.5% |
| LEN Lennar Corp. Class A | 0.80% | 10,826 | $1.2M | Reduce -5.5% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.74% | 12,051 | $1.1M | Reduce -0.1% |
| CARR Carrier Global Corp. | 0.70% | 14,398 | $1.1M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 0.67% | 1,356 | $1.0M | No change |
| IWD iShares Russell 1000 Value E | 0.60% | 4,650 | $903K | Reduce -7.7% |
| AIG American International Group | 0.54% | 9,373 | $802K | Reduce -2.2% |
| EPD Enterprise Products Partners | 0.53% | 25,640 | $795K | Reduce -7.8% |
| VOO Vanguard S&P 500 ETF | 0.53% | 1,386 | $787K | Reduce -2.5% |
| BN Brookfield Corp. | 0.51% | 12,236 | $757K | Reduce -2.5% |
| ATKR Atkore Inc. | 0.48% | 10,239 | $722K | Reduce -1.9% |
| VBIL Vanguard 0-3M T-Bill ETF | 0.47% | 9,376 | $708K | New |
| CLMB Climb Global Solutions Inc. | 0.47% | 6,562 | $702K | Reduce -0.1% |
| CAT Caterpillar Inc. | 0.47% | 1,803 | $700K | Add +0.1% |
| APA Apa Corp. | 0.46% | 37,415 | $684K | Reduce -1.7% |
| AVGO Broadcom Inc. | 0.44% | 2,412 | $665K | Reduce -3.4% |
| CTVA Corteva Inc. | 0.43% | 8,557 | $638K | Add +0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.42% | 1,023 | $632K | Add +0.1% |
| ACIW Aci Worldwide Inc. | 0.40% | 12,922 | $593K | No change |
| JPM JPMorgan Chase & Co. | 0.38% | 1,960 | $568K | Reduce -0.3% |
| VEU Vanguard Ftse All-World Ex-U | 0.37% | 8,165 | $549K | Add +0.2% |
| ADI Analog Devices Inc. | 0.36% | 2,281 | $543K | Reduce -11.7% |
| JNJ Johnson & Johnson | 0.36% | 3,554 | $543K | Reduce -2.0% |
| GRBK Green Brick Partners Inc. | 0.34% | 8,190 | $515K | Reduce -0.2% |
| PRDO Perdoceo Education Corp. | 0.34% | 15,374 | $503K | Reduce -0.4% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.33% | 4,903 | $495K | Add +0.6% |
| CMI Cummins Inc. | 0.33% | 1,488 | $487K | Reduce -3.9% |
| BIP Brookfield Infrastructure Pa | 0.32% | 14,369 | $481K | Reduce -6.9% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.32% | 2,467 | $481K | Add +12.7% |
| BBSI Barrett Business SVCS Inc. | 0.30% | 10,912 | $455K | Add +2.9% |
| VXUS Vanguard Total Intl Stock | 0.30% | 6,457 | $446K | Add +0.7% |
| SDY SS SPDR S&P Dividend ETF | 0.29% | 3,156 | $428K | No change |
| ORCL Oracle Corp. | 0.27% | 1,843 | $403K | Reduce -5.6% |
| CVCO Cavco Industries Inc. | 0.26% | 899 | $391K | Add +0.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.26% | 700 | $386K | No change |
| NICE Nice Ltd. - Spon ADR | 0.25% | 2,211 | $373K | New |
| OSBC Old Second Bancorp Inc. | 0.24% | 20,090 | $356K | Add +0.1% |
| ACN Accenture PLC Class A | 0.23% | 1,129 | $337K | No change |
| FNDC Schwab Fndmnt Intl SM Eq ETF | 0.21% | 7,623 | $321K | Add +0.8% |
| BSV Vanguard Short-Term Bond ETF | 0.21% | 3,979 | $313K | Add +0.9% |
| HCC Warrior Met Coal Inc. | 0.21% | 6,766 | $310K | Reduce -0.7% |
| VVX V2X Inc. | 0.20% | 6,240 | $303K | No change |
| PKBK Parke Bancorp Inc. | 0.18% | 13,550 | $276K | Reduce -0.1% |
| NFLX Netflix Inc. | 0.18% | 200 | $268K | New |
| IT Gartner Inc. | 0.18% | 651 | $263K | No change |
| UHAL U-Haul Holding Co. | 0.17% | 4,269 | $259K | Reduce -0.7% |
| VTEI Vanguard Int Tax-Exempt Bond | 0.17% | 2,617 | $258K | Add +0.7% |
| KRMD Koru Medical Systems Inc. | 0.17% | 71,945 | $258K | No change |
| XOM Exxon Mobil Corp. | 0.17% | 2,359 | $254K | Add +0.1% |
| V Visa Inc. Class A | 0.17% | 714 | $254K | Add +0.1% |
| GD General Dynamics Corp. | 0.17% | 869 | $253K | Add +0.1% |
| SD Sandridge Energy Inc. | 0.17% | 23,044 | $249K | Reduce -0.8% |
| CVX Chevron Corp. | 0.16% | 1,717 | $246K | Add +0.1% |
| KMI Kinder Morgan Inc. | 0.15% | 7,475 | $220K | Add +0.5% |
| AMGN Amgen Inc. | 0.14% | 756 | $211K | Add +0.3% |
| BOOM DMC Global Inc. | 0.12% | 22,257 | $179K | No change |
| EGY Vaalco Energy Inc. | 0.12% | 48,592 | $175K | Add +0.1% |
| PANL Pangaea Logistics Solutions | 0.12% | 37,237 | $175K | No change |
| FONR Fonar Corp. | 0.11% | 10,957 | $164K | Reduce -1.0% |
| AOUT American Outdoor Brands Inc. | 0.08% | 11,543 | $121K | Reduce -0.4% |
| FLL Full House Resorts Inc. filed as FULL HSE RESORTS INC | 0.08% | 31,065 | $114K | Add +3.5% |
| BTE Baytex Energy Corp. | 0.07% | 60,350 | $108K | No change |
| AMPY Amplify Energy Corp. | 0.07% | 32,279 | $103K | Add +72.9% |
| CRWS Crown Crafts Inc. | 0.05% | 27,416 | $79K | Reduce -1.2% |
Portfolio Sells Q1 2025 → Q2 2025
| MCK McKesson Corp. | Reduce -35.2% | 3.18% | −1.37 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -14.0% | 5.17% | −0.91 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.3% | 7.43% | −0.82 |
| AAPL Apple Inc. | Reduce -12.6% | 2.25% | −0.56 |
| SLB SLB Ltd. | Reduce -1.7% | 1.23% | −0.33 |
| KMX Carmax Inc. | Reduce -1.4% | 1.31% | −0.25 |
| AZO AutoZone Inc. | Reduce -2.2% | 3.49% | −0.21 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.19 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -0.6% | 1.60% | −0.17 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.17 |
| MHK Mohawk Industries Inc. | Reduce -5.3% | 1.00% | −0.16 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.14 |
| EPD Enterprise Products Partners | Reduce -7.8% | 0.53% | −0.11 |
| LEN Lennar Corp. Class A | Reduce -5.5% | 0.80% | −0.09 |
| APA Apa Corp. | Reduce -1.7% | 0.46% | −0.08 |
| JNJ Johnson & Johnson | Reduce -2.0% | 0.36% | −0.04 |
| DKS Dick's Sporting Goods Inc. | Reduce -0.1% | 1.39% | −0.04 |
| IWD iShares Russell 1000 Value E | Reduce -7.7% | 0.60% | −0.04 |
| PTLO Portillo's Inc. Class A | Reduce -0.3% | 1.05% | −0.03 |
| AIG American International Group | Reduce -2.2% | 0.54% | −0.03 |
| CLMB Climb Global Solutions Inc. | Reduce -0.1% | 0.47% | −0.02 |
| UHAL U-Haul Holding Co. | Reduce -0.7% | 0.17% | −0.02 |
| CRWS Crown Crafts Inc. | Reduce -1.2% | 0.05% | −0.02 |
| AOUT American Outdoor Brands Inc. | Reduce -0.4% | 0.08% | −0.01 |
| SD Sandridge Energy Inc. | Reduce -0.8% | 0.17% | −0.01 |
| HCC Warrior Met Coal Inc. | Reduce -0.7% | 0.21% | −0.01 |
| CMI Cummins Inc. | Reduce -3.9% | 0.33% | −0.00 |
| FONR Fonar Corp. | Reduce -1.0% | 0.11% | +0.00 |
| BIP Brookfield Infrastructure Pa | Reduce -6.9% | 0.32% | +0.01 |
| ADI Analog Devices Inc. | Reduce -11.7% | 0.36% | +0.01 |
| PKBK Parke Bancorp Inc. | Reduce -0.1% | 0.18% | +0.01 |
| FNDA Schwab Fndmntl US SM Co. ETF | Reduce -1.8% | 1.14% | +0.02 |
| LEA Lear Corp. | Reduce -3.8% | 0.83% | +0.02 |
| GRBK Green Brick Partners Inc. | Reduce -0.2% | 0.34% | +0.02 |
| WSM Williams-Sonoma Inc. | Reduce -1.4% | 3.09% | +0.03 |
| VOO Vanguard S&P 500 ETF | Reduce -2.5% | 0.53% | +0.03 |
| JPM JPMorgan Chase & Co. | Reduce -0.3% | 0.38% | +0.05 |
| ATKR Atkore Inc. | Reduce -1.9% | 0.48% | +0.06 |
| BN Brookfield Corp. | Reduce -2.5% | 0.51% | +0.06 |
| PRDO Perdoceo Education Corp. | Reduce -0.4% | 0.34% | +0.07 |
| ORCL Oracle Corp. | Reduce -5.6% | 0.27% | +0.08 |
| CARR Carrier Global Corp. | Reduce -0.2% | 0.70% | +0.09 |
| CF CF Industries Holdings Inc. | Reduce -0.1% | 0.74% | +0.10 |
| RTX RTX Corp. | Reduce -0.5% | 2.04% | +0.16 |
| AVGO Broadcom Inc. | Reduce -3.4% | 0.44% | +0.16 |
| EBAY eBay Inc. | Reduce -0.1% | 3.04% | +0.24 |
| ULTA Ulta Beauty Inc. | Reduce -0.5% | 1.21% | +0.25 |
| BAC Bank of America Corp. | Reduce -1.1% | 2.67% | +0.27 |
| MSFT Microsoft Corp. | Reduce -0.1% | 1.42% | +0.34 |
| BKNG Booking Holdings Inc. | Reduce -1.4% | 2.53% | +0.47 |
Portfolio Buys Q1 2025 → Q2 2025
| HPE Hewlett Packard Enterprise | Add +1.3% | 1.92% | +0.48 |
| VBIL Vanguard 0-3M T-Bill ETF | New | 0.47% | +0.47 |
| VT Vanguard Tot World STK ETF | Add +3.1% | 3.88% | +0.45 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +4.3% | 5.50% | +0.37 |
| VPLS Vanguard Core-Plus Bond ETF | Add +36.1% | 1.24% | +0.32 |
| NICE Nice Ltd. - Spon ADR | New | 0.25% | +0.25 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +9.1% | 1.35% | +0.22 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.1% | 2.20% | +0.19 |
| VTIP Vanguard Short-Term Tips | Add +13.9% | 1.51% | +0.18 |
| NFLX Netflix Inc. | New | 0.18% | +0.18 |
| MTB M & T Bank Corp. | Add +0.2% | 2.04% | +0.15 |
| IVV iShares Core S&P 500 ETF | Add +4.7% | 1.12% | +0.14 |
| RF Regions Financial Corp. | Add +1.0% | 1.54% | +0.12 |
| CAT Caterpillar Inc. | Add +0.1% | 0.47% | +0.07 |
| CTVA Corteva Inc. | Add +0.1% | 0.43% | +0.06 |
| VUSB Vanguard Ultra Short Bond Et | Add +7.4% | 0.91% | +0.05 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +9.5% | 0.82% | +0.05 |
| MKL Markel Group Inc. | Add +0.5% | 0.87% | +0.05 |
| NVR NVR Inc. | Add +0.9% | 2.66% | +0.05 |
| DBX Dropbox Inc. Class A | Add +0.0% | 0.84% | +0.05 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +12.7% | 0.32% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.1% | 0.42% | +0.04 |
| VEU Vanguard Ftse All-World Ex-U | Add +0.2% | 0.37% | +0.03 |
| FNDC Schwab Fndmnt Intl SM Eq ETF | Add +0.8% | 0.21% | +0.03 |
| VXUS Vanguard Total Intl Stock | Add +0.7% | 0.30% | +0.03 |
| AMPY Amplify Energy Corp. | Add +72.9% | 0.07% | +0.02 |
| OSBC Old Second Bancorp Inc. | Add +0.1% | 0.24% | +0.01 |
| GD General Dynamics Corp. | Add +0.1% | 0.17% | +0.01 |
| BBSI Barrett Business SVCS Inc. | Add +2.9% | 0.30% | +0.01 |
| KMI Kinder Morgan Inc. | Add +0.5% | 0.15% | +0.00 |
| BSV Vanguard Short-Term Bond ETF | Add +0.9% | 0.21% | +0.00 |
| V Visa Inc. Class A | Add +0.1% | 0.17% | +0.00 |
| VTES Vanguard SH Term Tax-Ex Bond | Add +0.6% | 0.33% | −0.00 |
| VTEI Vanguard Int Tax-Exempt Bond | Add +0.7% | 0.17% | −0.00 |
| EGY Vaalco Energy Inc. | Add +0.1% | 0.12% | −0.01 |
| FLL Full House Resorts Inc. | Add +3.5% | 0.08% | −0.01 |
| AMGN Amgen Inc. | Add +0.3% | 0.14% | −0.02 |
| XOM Exxon Mobil Corp. | Add +0.1% | 0.17% | −0.02 |
| CVX Chevron Corp. | Add +0.1% | 0.16% | −0.03 |
| CVCO Cavco Industries Inc. | Add +0.1% | 0.26% | −0.05 |
| COP Conocophillips | Add +10.0% | 2.66% | −0.20 |
| FANG Diamondback Energy Inc. | Add +0.0% | 1.40% | −0.24 |
| BMY Bristol-Myers Squibb Co. | Add +0.4% | 1.15% | −0.37 |
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 |