Lakewood Capital Management, L.P. 13F annual report

Lakewood Capital Management, L.P. is an investment fund managing more than $1.16 trillion ran by Chris Deneen. There are currently 42 companies in Mr. Deneen’s portfolio. The largest investments include Cigna and 1 Automotive, together worth $184 billion.

Limited to 30 biggest holdings

$1.16 trillion Assets Under Management (AUM)

As of 7th August 2024, Lakewood Capital Management, L.P.’s top holding is 305,857 shares of Cigna currently worth over $101 billion and making up 8.7% of the portfolio value. Relative to the number of outstanding shares of Cigna, Lakewood Capital Management, L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 277,726 shares of 1 Automotive worth $82.6 billion, whose value grew 24.8% in the past six months. The third-largest holding is Citigroup Inc worth $76.9 billion and the next is Kemper Corp worth $59.3 billion, with 998,998 shares owned.

Currently, Lakewood Capital Management, L.P.'s portfolio is worth at least $1.16 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Lakewood Capital Management, L.P.

The Lakewood Capital Management, L.P. office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Chris Deneen serves as the Chief Financial Officer at Lakewood Capital Management, L.P..

Recent trades

In the most recent 13F filing, Lakewood Capital Management, L.P. revealed that it had opened a new position in SS&C Technologies Inc and bought 354,954 shares worth $22.2 billion. This means they effectively own approximately 0.1% of the company. SS&C Technologies Inc makes up 22.1% of the fund's Technology sector allocation and has grown its share price by 26.0% in the past year.

The investment fund also strengthened its position in Cigna by buying 8,000 additional shares. This makes their stake in Cigna total 305,857 shares worth $101 billion. Cigna soared 13.2% in the past year.

On the other hand, there are companies that Lakewood Capital Management, L.P. is getting rid of from its portfolio. Lakewood Capital Management, L.P. closed its position in Cnh Indl N V on 14th August 2024. It sold the previously owned 1,520,000 shares for $19.7 billion. Chris Deneen also disclosed a decreased stake in 1 Automotive by 0.1%. This leaves the value of the investment at $82.6 billion and 277,726 shares.

One of the average hedge funds

The two most similar investment funds to Lakewood Capital Management, L.P. are Rwc Asset Management LL.P. and Riverstone Holdings. They manage $1.16 trillion and $1.16 trillion respectively.


Chris Deneen investment strategy

Lakewood Capital Management, L.P.’s portfolio is diversified across 8 sectors. Currently, their heaviest sector is Consumer Discretionary — making up 18.8% of the total portfolio value. The fund focuses on investments in the United States as 45.2% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 19% of the total holdings value. On the other hand, small-cap stocks make up only 2.4% of the portfolio. The average market cap of the portfolio companies is close to $96.5 billion.

The complete list of Lakewood Capital Management, L.P. trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Cigna Group (The)
2.69%
305,857
$101,107,148,000 8.71%
Group 1 Automotive, Inc.
10.04%
277,726
$82,562,385,000 7.11%
Citigroup Inc
No change
1,211,800
$76,900,828,000 6.62%
Kemper Corp
3.63%
998,998
$59,270,551,000 5.10%
First Amern Finl Corp
21.06%
1,086,604
$58,622,286,000 5.05%
Brunswick Corp.
43.97%
733,467
$53,374,394,000 4.60%
Comcast Corp New
No change
1,308,748
$51,250,572,000 4.41%
Alphabet Inc
33.28%
272,680
$49,668,662,000 4.28%
Fedex Corp
No change
165,290
$49,560,554,000 4.27%
WestRock Co
No change
947,512
$47,621,953,000 4.10%
Elevance Health Inc
6.41%
83,000
$44,974,380,000 3.87%
Apollo Global Mgmt Inc
No change
377,197
$44,535,650,000 3.84%
Axalta Coating Sys Ltd
No change
1,051,397
$35,926,235,000 3.09%
Asbury Automotive Group Inc
No change
154,929
$35,303,671,000 3.04%
GoodRx Holdings, Inc.
8.77%
3,595,085
$28,041,663,000 2.42%
Sotera Health Co
No change
2,307,739
$27,392,862,000 2.36%
First Ctzns Bancshares Inc N
No change
14,336
$24,136,233,000 2.08%
Charles Riv Labs Intl Inc
0.89%
111,740
$23,083,249,000 1.99%
SS&C Technologies Holdings Inc
Opened
354,954
$22,244,967,000 1.92%
Gildan Activewear Inc
No change
577,352
$21,893,188,000 1.89%
Global Pmts Inc
27.23%
209,300
$20,239,310,000 1.74%
Cnh Indl N V
Closed
1,520,000
$19,699,200,000
Roivant Sciences Ltd
No change
1,744,800
$18,442,536,000 1.59%
Alibaba Group Hldg Ltd
No change
235,338
$16,944,336,000 1.46%
Ally Finl Inc
No change
376,609
$14,940,079,000 1.29%
Seadrill 2021 Ltd
Opened
283,000
$14,574,500,000 1.26%
Capital One Finl Corp
No change
101,000
$13,983,450,000 1.20%
KKR & Co. Inc
27.48%
127,700
$13,439,148,000 1.16%
Wyndham Hotels & Resorts Inc
No change
169,236
$12,523,464,000 1.08%
Ishares Bitcoin Tr
26.75%
311,310
$10,628,123,000 0.92%
NICE Ltd
Opened
60,000
$10,318,200,000 0.89%
Lightspeed Commerce Inc
Opened
700,000
$9,583,000,000 0.83%
Mercury Genl Corp New
Opened
176,700
$9,389,838,000 0.81%
Signet Jewelers Limited
Opened
90,000
$8,062,200,000 0.69%
Grayscale Bitcoin Tr Btc
No change
123,500
$6,575,140,000 0.57%
National Vision Holdings Inc
36.99%
500,000
$6,545,000,000 0.56%
Meta Platforms Inc
No change
12,970
$6,539,733,000 0.56%
Sleep Number Corp
1.55%
655,000
$6,268,350,000 0.54%
Bandwidth Inc
No change
355,721
$6,004,570,000 0.52%
CS Disco, Inc.
18.82%
966,531
$5,760,525,000 0.50%
Taboola.com Ltd
16.67%
1,446,541
$4,976,101,000 0.43%
Root, Inc.
Opened
94,200
$4,861,662,000 0.42%
Insperity Inc
Closed
33,063
$3,624,035,000
Liberty Global Ltd
Opened
170,000
$2,963,100,000 0.26%
Dell Technologies Inc
Closed
21,606
$2,465,461,000
Clearfield Inc
Closed
70,000
$2,158,800,000
No transactions found
Showing first 500 out of 46 holdings