Lakewood Capital Management, LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Lakewood Capital Management, LP reported 62 stock positions worth $1.9 billion. Its top holding was Cigna (CI) at 6.1% of the portfolio, followed by Axalta Coating Systems (AXTA, 6.1%) and Icon (ICLR, 5.3%). Compared with Q1 2026, it opened 10 new positions, sold out of 10, added to 24 and reduced 15. The biggest buy was a new position in Copa Class A (CPA) and the biggest sale an exit from Sumisho Air Lease (AL).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001424381
- Portfolio Value
- $1.9B (Q2 2026)
- SEC Filing
- 0001172661-26-003656 ↗ filed Aug 14, 2026
Holdings Value
Holdings 62 stocks · $1.9B
| CI The Cigna Group | 6.12% | 427,807 | $117.9M | Add +0.3% |
| AXTA Axalta Coating Systems Ltd. | 6.08% | 3,423,648 | $117.2M | Add +18.2% |
| ICLR Icon PLC filed as ICON PUB LTD CO | 5.27% | 585,200 | $101.7M | Reduce -21.7% |
| ALLY Ally Financial Inc. | 4.19% | 1,758,809 | $80.8M | Add +6.4% |
| CPA Copa Holdings SA Class A | 3.99% | 494,900 | $77.0M | New |
| GPI Group 1 Automotive Inc. | 3.74% | 247,614 | $72.1M | Add +16.2% |
| SHC Sotera Health Co. | 3.66% | 3,979,581 | $70.6M | Reduce -3.0% |
| CDW CDW Corp. | 3.53% | 483,500 | $68.0M | Add +92.6% |
| META Meta Platforms Inc. Class A | 3.39% | 115,985 | $65.3M | Add +63.7% |
| SSNC Ss&c Technologies Holdings | 3.27% | 1,016,954 | $63.1M | Add +7.4% |
| IQV Iqvia Holdings Inc. | 3.19% | 317,900 | $61.4M | Add +36.8% |
| VTRS Viatris Inc. | 3.08% | 3,735,900 | $59.3M | Add +1.8% |
| MA Mastercard Inc. Class A | 2.92% | 109,454 | $56.2M | Add +150.7% |
| FAF First American Financial | 2.62% | 735,904 | $50.5M | Add +14.3% |
| AMRZ Amrize Ltd. | 2.45% | 888,200 | $47.3M | Add +9.1% |
| SPOT Spotify Technology SA | 2.23% | 93,500 | $42.9M | New |
| V Visa Inc. Class A | 2.15% | 120,578 | $41.4M | Add +68.5% |
| BC Brunswick Corp. | 2.01% | 460,467 | $38.8M | Reduce -21.6% |
| MSFT Microsoft Corp. | 1.96% | 101,534 | $37.9M | Add +5.2% |
| ARW Arrow Electronics Inc. | 1.95% | 176,360 | $37.6M | Reduce -30.9% |
| TFSL TFS Financial Corp. | 1.90% | 2,070,382 | $36.7M | Reduce -27.0% |
| ABG Asbury Automotive Group | 1.86% | 178,629 | $35.9M | Add +31.7% |
| CCS Century Communities Inc. | 1.81% | 487,000 | $34.9M | New |
| SW Smurfit Westrock PLC | 1.75% | 727,897 | $33.7M | Add +7.7% |
| CRL Charles River Laboratories | 1.58% | 134,000 | $30.4M | Add +94.2% |
| BKNG Booking Holdings Inc. | 1.53% | 165,200 | $29.4M | Add +18.1% |
| WEX Wex Inc. | 1.47% | 200,968 | $28.4M | No change |
| UNP Union Pacific Corp. | 1.43% | 101,700 | $27.7M | Reduce -25.6% |
| APO Apollo Global Management Inc. | 1.39% | 227,197 | $26.9M | Add +1.3% |
| JD Jd.com Inc.-ADR | 1.33% | 1,009,050 | $25.7M | Add +11.6% |
| ELV Elevance Health Inc. | 1.19% | 59,350 | $23.0M | Reduce -47.2% |
| CPNG Coupang Inc. | 1.18% | 1,305,000 | $22.7M | Add +25.5% |
| GOOGL Alphabet Inc. Class A | 1.12% | 60,580 | $21.6M | Add +5.2% |
| SPGI S&P Global Inc. | 1.09% | 51,750 | $21.1M | Add +18.3% |
| GPN Global Payments Inc. | 0.92% | 244,300 | $17.7M | No change |
| RELY Remitly Global Inc. | 0.87% | 751,200 | $16.8M | Reduce -37.5% |
| UNFI United Natural Foods Inc. | 0.83% | 350,000 | $16.0M | Reduce -46.6% |
| HCA HCA Healthcare Inc. | 0.78% | 38,500 | $15.0M | New |
| INGM Ingram Micro Holding Corp. | 0.56% | 395,000 | $10.8M | New |
| NICE Nice Ltd. - Spon ADR | 0.55% | 116,800 | $10.6M | No change |
| CMCSA Comcast Corp. Class A | 0.54% | 420,748 | $10.3M | Reduce -16.0% |
| LEG Leggett & Platt Inc. | 0.50% | 830,000 | $9.7M | Add +6.4% |
| TBLA Taboola.com Ltd. | 0.49% | 1,893,541 | $9.5M | No change |
| KMPR Kemper Corp. | 0.48% | 343,090 | $9.2M | Reduce -31.5% |
| HSIC Henry Schein Inc. filed as SCHEIN HENRY INC | 0.42% | 97,000 | $8.1M | Reduce -63.0% |
| LRN Stride Inc. | 0.40% | 90,000 | $7.8M | No change |
| DKNG Draftkings Inc. Class A | 0.40% | 304,500 | $7.7M | Reduce -16.5% |
| LKQ LKQ Corp. | 0.36% | 265,000 | $7.0M | New |
| NSP Insperity Inc. | 0.35% | 165,000 | $6.8M | New |
| AVT Avnet Inc. | 0.33% | 72,000 | $6.4M | Reduce -13.3% |
| EME Emcor Group Inc. | 0.30% | 7,000 | $5.8M | No change |
| IOT Samsara Inc. Class A | 0.29% | 175,000 | $5.7M | New |
| GBTC Grayscale Bitcoin Trust ETF | 0.29% | 123,500 | $5.6M | No change |
| FRMI Fermi Inc. | 0.28% | 600,000 | $5.5M | New |
| KLAR Klarna Group PLC | 0.28% | 270,000 | $5.5M | No change |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.28% | 179,000 | $5.4M | New |
| HIPO Hippo Holdings Inc. | 0.28% | 190,000 | $5.4M | No change |
| LAW CS Disco Inc. | 0.22% | 1,106,531 | $4.2M | No change |
| IBIT iShares Bitcoin Trust ETF | 0.20% | 113,510 | $3.8M | Reduce -61.7% |
| VSNT Versant Media Group Inc. | 0.19% | 104,029 | $3.7M | No change |
| SBET Sharplink Inc. | 0.14% | 559,000 | $2.7M | No change |
| BTC Grayscale Bitcoin Mini ETF | 0.03% | 24,700 | $641K | No change |
Options reported separately and not counted above: NICE calls ($5.8M), SNAP calls ($5.5M), FRMI calls ($1.4M).
Portfolio Sells Q1 2026 → Q2 2026
| AL Sumisho Air Lease Corp. | Sold out | 0.00% | −2.03 |
| UNFI United Natural Foods Inc. | Reduce -46.6% | 0.83% | −1.07 |
| BZH Beazer Homes USA Inc. | Sold out | 0.00% | −0.96 |
| ELV Elevance Health Inc. | Reduce -47.2% | 1.19% | −0.92 |
| HSIC Henry Schein Inc. | Reduce -63.0% | 0.42% | −0.82 |
| BC Brunswick Corp. | Reduce -21.6% | 2.01% | −0.73 |
| UNP Union Pacific Corp. | Reduce -25.6% | 1.43% | −0.70 |
| TFSL TFS Financial Corp. | Reduce -27.0% | 1.90% | −0.66 |
| IBIT iShares Bitcoin Trust ETF | Reduce -61.7% | 0.20% | −0.54 |
| KMPR Kemper Corp. | Reduce -31.5% | 0.48% | −0.50 |
| TFX Teleflex Inc. | Sold out | 0.00% | −0.49 |
| C Citigroup Inc. | Sold out | 0.00% | −0.47 |
| ARW Arrow Electronics Inc. | Reduce -30.9% | 1.95% | −0.40 |
| CMCSA Comcast Corp. Class A | Reduce -16.0% | 0.54% | −0.39 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.38 |
| RELY Remitly Global Inc. | Reduce -37.5% | 0.87% | −0.34 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −0.32 |
| ASST Strive Inc. Class A | Sold out | 0.00% | −0.21 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.21 |
| WAY Waystar Holding Corp. | Sold out | 0.00% | −0.15 |
| SHC Sotera Health Co. | Reduce -3.0% | 3.66% | −0.12 |
| DKNG Draftkings Inc. Class A | Reduce -16.5% | 0.40% | −0.11 |
| BAND Bandwidth Inc. Class A | Sold out | 0.00% | −0.08 |
| ICLR Icon PLC | Reduce -21.7% | 5.27% | −0.04 |
| AVT Avnet Inc. | Reduce -13.3% | 0.33% | +0.00 |
Portfolio Buys Q1 2026 → Q2 2026
| CPA Copa Holdings SA Class A | New | 3.99% | +3.99 |
| SPOT Spotify Technology SA | New | 2.23% | +2.23 |
| CCS Century Communities Inc. | New | 1.81% | +1.81 |
| CDW CDW Corp. | Add +92.6% | 3.53% | +1.58 |
| MA Mastercard Inc. Class A | Add +150.7% | 2.92% | +1.51 |
| AXTA Axalta Coating Systems Ltd. | Add +18.2% | 6.08% | +0.93 |
| CRL Charles River Laboratories | Add +94.2% | 1.58% | +0.81 |
| META Meta Platforms Inc. Class A | Add +63.7% | 3.39% | +0.79 |
| HCA HCA Healthcare Inc. | New | 0.78% | +0.78 |
| V Visa Inc. Class A | Add +68.5% | 2.15% | +0.76 |
| IQV Iqvia Holdings Inc. | Add +36.8% | 3.19% | +0.64 |
| INGM Ingram Micro Holding Corp. | New | 0.56% | +0.56 |
| LKQ LKQ Corp. | New | 0.36% | +0.36 |
| NSP Insperity Inc. | New | 0.35% | +0.35 |
| IOT Samsara Inc. Class A | New | 0.29% | +0.29 |
| FRMI Fermi Inc. | New | 0.28% | +0.28 |
| GDS GDS Holdings Ltd. - ADR | New | 0.28% | +0.28 |
| ABG Asbury Automotive Group | Add +31.7% | 1.86% | +0.16 |
| FAF First American Financial | Add +14.3% | 2.62% | +0.12 |
| GOOGL Alphabet Inc. Class A | Add +5.2% | 1.12% | +0.06 |
| ALLY Ally Financial Inc. | Add +6.4% | 4.19% | +0.03 |
| SW Smurfit Westrock PLC | Add +7.7% | 1.75% | +0.02 |
| BKNG Booking Holdings Inc. | Add +18.1% | 1.53% | +0.01 |
| LEG Leggett & Platt Inc. | Add +6.4% | 0.50% | +0.01 |
| CPNG Coupang Inc. | Add +25.5% | 1.18% | −0.09 |
| SPGI S&P Global Inc. | Add +18.3% | 1.09% | −0.10 |
| VTRS Viatris Inc. | Add +1.8% | 3.08% | −0.11 |
| APO Apollo Global Management Inc. | Add +1.3% | 1.39% | −0.21 |
| MSFT Microsoft Corp. | Add +5.2% | 1.96% | −0.33 |
| JD Jd.com Inc.-ADR | Add +11.6% | 1.33% | −0.38 |
| AMRZ Amrize Ltd. | Add +9.1% | 2.45% | −0.47 |
| GPI Group 1 Automotive Inc. | Add +16.2% | 3.74% | −0.78 |
| SSNC Ss&c Technologies Holdings | Add +7.4% | 3.27% | −0.84 |
| CI The Cigna Group | Add +0.3% | 6.12% | −1.19 |
Options Activity Q1 2026 → Q2 2026
| FIX Comfort Systems USA Inc. | put | Sold out | 8,000 | $11.0Mbefore exit |
| NICE Nice Ltd. - Spon ADR | call | Add +18.4% | 64,200 | $5.8M |
| IONQ Ionq Inc. | put | Sold out | 50,000 | $1.4Mbefore exit |
| FRMI Fermi Inc. | call | New | 150,000 | $1.4M |
| QS Quantumscape Corp. | put | Sold out | 120,000 | $766Kbefore exit |
| QBTS D-Wave Quantum Inc. | put | Sold out | 20,000 | $289Kbefore exit |
| QUBT Quantum Computing Inc. | put | Sold out | 15,000 | $103Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 62 | $1.9B | CI, AXTA, ICLR, ALLY, CPA |
| Q1 2026 | 62 | $1.6B | CI, ICLR, AXTA, GPI, ALLY |
| Q4 2025 | 53 | $1.4B | CI, SSNC, AXTA, ICLR, SHC |
| Q3 2025 | 50 | $1.3B | ELV, CI, ARW, SSNC, KMPR |
| Q2 2025 | 47 | $1.3B | CI, C, ARW, ELV, KMPR |
| Q1 2025 | 44 | $1.1B | CI, ELV, C, KMPR, ARW |
| Q4 2024 | 41 | $1.1B | CI, ELV, SW, KMPR, GPI |
| Q3 2024 | 44 | $1.2B | CI, GPI, C, KMPR, BC |
| Q2 2024 | 42 | $1.2B | CI, GPI, C, KMPR, FAF |
| Q1 2024 | 38 | $1.1B | CI, GPI, C, GOOGL, KMPR |