Lakewood Asset Management LLC

Q4 2025 13F-HR Holdings

Location
Naperville, IL
Holdings as of
12/31/2025
Date filed
1/26/2026
Form type
13F-HR
Num holdings
105
Total value ($000)
$170,220
Net value change ($000)
+4,836 (2.9%)
New positions
7
Sold out positions
5
Turnover %
2.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/24/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VBIL 5,930 249.5%
VPLS 2,939 114.0%
LULU 1,045 NEW
VUSB 806 43.8%
FNDX 676 7.6%
SLV 600 NEW
BMY 397 23.1%
MCK 371 7.3%
RTX 355 10.3%
BAC 313 7.1%
Top Reduces (Value $000, Stocks/ETFs)
BIL -4,091 -54.9%
ULTA -1,584 -74.0%
AZO -1,200 -19.9%
VTES -503 -100.0%
WSM -463 -8.4%
NICE -458 -24.7%
NVR -339 -7.7%
MHK -271 -14.5%
PTLO -269 -30.4%
UHAL -244 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type