# EDGAR Filing Document

**Accession Number:** 0001966581
**File Stem:** 0001754960-25-000708
**Filing Date:** 2025-10
**Character Count:** 13784
**Document Hash:** 0604793195e13d7c6532352d20836ead
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001754960-25-000708.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0001754960-25-000708

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251023

**EFFECTIVENESS DATE**: 20251024

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lakewood Asset Management LLC
- **CENTRAL INDEX KEY:** 0001966581

**ORGANIZATION NAME:**
- **EIN:** 472814185
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23154
- **FILM NUMBER:** 251414153

**BUSINESS ADDRESS:**
- **STREET 1:** 225 W JEFFERSON AVE
- **STREET 2:** STE # 102
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60540
- **BUSINESS PHONE:** 312-543-1772

**MAIL ADDRESS:**
- **STREET 1:** 225 W JEFFERSON AVE
- **STREET 2:** STE # 102
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60540

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Lakewood Asset Management LLC<br>**Address:** 225 W JEFFERSON AVE<br>STE # 102<br>NAPERVILLE, IL 60540

**Form 13F File Number:** 028-23154

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Aryn Sands<br>**Title:** Agent<br>**Phone:** 844-844-3453

**Signature, Place, and Date of Signing:**

Aryn Sands  Reno, NV  10-23-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 104

**Form 13F Information Table Value Total:** $165383511

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 278365 | 1129 | SH |  | SOLE |  | 0 | 0 | 1129 |
| BROOKFIELD INFRAST PARTNERS | LP INT UNIT | G16252101 |  | 472584 | 14369 | SH |  | SOLE |  | 0 | 0 | 14369 |
| PANGAEA LOGISTICS SOLUTION L | SHS | G6891L105 |  | 187133 | 36837 | SH |  | SOLE |  | 0 | 0 | 36837 |
| ABBVIE INC | COM | 00287Y109 |  | 250134 | 1080 | SH |  | SOLE |  | 0 | 0 | 1080 |
| ACI WORLDWIDE INC | COM | 004498101 |  | 681894 | 12922 | SH |  | SOLE |  | 0 | 0 | 12922 |
| U HAUL HOLDING COMPANY | COM | 023586100 |  | 243641 | 4269 | SH |  | SOLE |  | 0 | 0 | 4269 |
| U HAUL HOLDING COMPANY | COM SER N | 023586506 |  | 2288946 | 44969 | SH |  | SOLE |  | 0 | 0 | 44969 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 729120 | 9283 | SH |  | SOLE |  | 0 | 0 | 9283 |
| AMERICAN OUTDOOR BRANDS INC | COM | 02875D109 |  | 99889 | 11508 | SH |  | SOLE |  | 0 | 0 | 11508 |
| AMGEN INC | COM | 031162100 |  | 213746 | 757 | SH |  | SOLE |  | 0 | 0 | 757 |
| AMPLIFY ENERGY CORP NEW | COM | 03212B103 |  | 169465 | 32279 | SH |  | SOLE |  | 0 | 0 | 32279 |
| ANALOG DEVICES INC | COM | 032654105 |  | 560738 | 2282 | SH |  | SOLE |  | 0 | 0 | 2282 |
| APA CORPORATION | COM | 03743Q108 |  | 929400 | 38278 | SH |  | SOLE |  | 0 | 0 | 38278 |
| APPLE INC | COM | 037833100 |  | 3815578 | 14985 | SH |  | SOLE |  | 0 | 0 | 14985 |
| ATKORE INC | COM | 047649108 |  | 638533 | 10177 | SH |  | SOLE |  | 0 | 0 | 10177 |
| AUTOZONE INC | COM | 053332102 |  | 6036368 | 1407 | SH |  | SOLE |  | 0 | 0 | 1407 |
| BANK AMERICA CORP | COM | 060505104 |  | 4385864 | 85014 | SH |  | SOLE |  | 0 | 0 | 85014 |
| BARRETT BUSINESS SVCS INC | COM | 068463108 |  | 479409 | 10817 | SH |  | SOLE |  | 0 | 0 | 10817 |
| BAYTEX ENERGY CORP | COM | 07317Q105 |  | 139581 | 59650 | SH |  | SOLE |  | 0 | 0 | 59650 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 11849582 | 23570 | SH |  | SOLE |  | 0 | 0 | 23570 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 3520441 | 652 | SH |  | SOLE |  | 0 | 0 | 652 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1715197 | 38031 | SH |  | SOLE |  | 0 | 0 | 38031 |
| BROADCOM INC | COM | 11135F101 |  | 795743 | 2412 | SH |  | SOLE |  | 0 | 0 | 2412 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 839116 | 12236 | SH |  | SOLE |  | 0 | 0 | 12236 |
| CF INDS HLDGS INC | COM | 125269100 |  | 1099730 | 12260 | SH |  | SOLE |  | 0 | 0 | 12260 |
| CARMAX INC | COM | 143130102 |  | 1341927 | 29907 | SH |  | SOLE |  | 0 | 0 | 29907 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 852449 | 14279 | SH |  | SOLE |  | 0 | 0 | 14279 |
| CATERPILLAR INC | COM | 149123101 |  | 861408 | 1805 | SH |  | SOLE |  | 0 | 0 | 1805 |
| CAVCO INDS INC DEL | COM | 149568107 |  | 519753 | 895 | SH |  | SOLE |  | 0 | 0 | 895 |
| CHEVRON CORP NEW | COM | 166764100 |  | 266879 | 1719 | SH |  | SOLE |  | 0 | 0 | 1719 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 4280067 | 45249 | SH |  | SOLE |  | 0 | 0 | 45249 |
| CORTEVA INC | COM | 22052L104 |  | 579119 | 8563 | SH |  | SOLE |  | 0 | 0 | 8563 |
| CROWN CRAFTS INC | COM | 228309100 |  | 77674 | 26692 | SH |  | SOLE |  | 0 | 0 | 26692 |
| CUMMINS INC | COM | 231021106 |  | 628914 | 1489 | SH |  | SOLE |  | 0 | 0 | 1489 |
| DMC GLOBAL INC | COM | 23291C103 |  | 188072 | 22257 | SH |  | SOLE |  | 0 | 0 | 22257 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 2241896 | 15667 | SH |  | SOLE |  | 0 | 0 | 15667 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 2370766 | 10669 | SH |  | SOLE |  | 0 | 0 | 10669 |
| DROPBOX INC | CL A | 26210C104 |  | 1342744 | 44447 | SH |  | SOLE |  | 0 | 0 | 44447 |
| EBAY INC. | COM | 278642103 |  | 5636817 | 61977 | SH |  | SOLE |  | 0 | 0 | 61977 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 801752 | 25640 | SH |  | SOLE |  | 0 | 0 | 25640 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 266215 | 2361 | SH |  | SOLE |  | 0 | 0 | 2361 |
| META PLATFORMS INC | CL A | 30303M102 |  | 995819 | 1356 | SH |  | SOLE |  | 0 | 0 | 1356 |
| FONAR CORP | COM NEW | 344437405 |  | 249454 | 16564 | SH |  | SOLE |  | 0 | 0 | 16564 |
| FULL HSE RESORTS INC | COM | 359678109 |  | 99719 | 31065 | SH |  | SOLE |  | 0 | 0 | 31065 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 296545 | 870 | SH |  | SOLE |  | 0 | 0 | 870 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 603288 | 8168 | SH |  | SOLE |  | 0 | 0 | 8168 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 3397713 | 138343 | SH |  | SOLE |  | 0 | 0 | 138343 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 420259 | 700 | SH |  | SOLE |  | 0 | 0 | 700 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1836401 | 2744 | SH |  | SOLE |  | 0 | 0 | 2744 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 954438 | 4688 | SH |  | SOLE |  | 0 | 0 | 4688 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 214825 | 3305 | SH |  | SOLE |  | 0 | 0 | 3305 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 649692 | 2060 | SH |  | SOLE |  | 0 | 0 | 2060 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 659712 | 3558 | SH |  | SOLE |  | 0 | 0 | 3558 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 212614 | 7510 | SH |  | SOLE |  | 0 | 0 | 7510 |
| LEAR CORP | COM NEW | 521865204 |  | 1359413 | 13512 | SH |  | SOLE |  | 0 | 0 | 13512 |
| LENNAR CORP | CL A | 526057104 |  | 1403310 | 11134 | SH |  | SOLE |  | 0 | 0 | 11134 |
| M  T BK CORP | COM | 55261F104 |  | 3147685 | 15928 | SH |  | SOLE |  | 0 | 0 | 15928 |
| MARKEL GROUP INC | COM | 570535104 |  | 1274877 | 667 | SH |  | SOLE |  | 0 | 0 | 667 |
| MCKESSON CORP | COM | 58155Q103 |  | 5064028 | 6555 | SH |  | SOLE |  | 0 | 0 | 6555 |
| MICROSOFT CORP | COM | 594918104 |  | 2181207 | 4211 | SH |  | SOLE |  | 0 | 0 | 4211 |
| MOHAWK INDS INC | COM | 608190104 |  | 1873465 | 14532 | SH |  | SOLE |  | 0 | 0 | 14532 |
| NVR INC | COM | 62944T105 |  | 4378890 | 545 | SH |  | SOLE |  | 0 | 0 | 545 |
| NETFLIX INC | COM | 64110L106 |  | 239784 | 200 | SH |  | SOLE |  | 0 | 0 | 200 |
| NICE LTD | SPONSORED ADR | 653656108 |  | 1851881 | 12791 | SH |  | SOLE |  | 0 | 0 | 12791 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 221945 | 1190 | SH |  | SOLE |  | 0 | 0 | 1190 |
| OLD SECOND BANCORP INC ILL | COM | 680277100 |  | 344734 | 19944 | SH |  | SOLE |  | 0 | 0 | 19944 |
| ORACLE CORP | COM | 68389X105 |  | 518463 | 1843 | SH |  | SOLE |  | 0 | 0 | 1843 |
| PARKE BANCORP INC | COM | 700885106 |  | 291015 | 13504 | SH |  | SOLE |  | 0 | 0 | 13504 |
| PERDOCEO ED CORP | COM | 71363P106 |  | 573336 | 15224 | SH |  | SOLE |  | 0 | 0 | 15224 |
| PORTILLOS INC | COM CL A | 73642K106 |  | 884069 | 137065 | SH |  | SOLE |  | 0 | 0 | 137065 |
| RTX CORPORATION | COM | 75513E101 |  | 3458892 | 20671 | SH |  | SOLE |  | 0 | 0 | 20671 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 2630940 | 99770 | SH |  | SOLE |  | 0 | 0 | 99770 |
| KORU MEDICAL SYSTEMS INC | COM | 759910102 |  | 275549 | 71945 | SH |  | SOLE |  | 0 | 0 | 71945 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 681913 | 1024 | SH |  | SOLE |  | 0 | 0 | 1024 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 441998 | 3156 | SH |  | SOLE |  | 0 | 0 | 3156 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 7458252 | 81289 | SH |  | SOLE |  | 0 | 0 | 81289 |
| SANDRIDGE ENERGY INC | COM NEW | 80007P869 |  | 258312 | 22900 | SH |  | SOLE |  | 0 | 0 | 22900 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 2028349 | 59015 | SH |  | SOLE |  | 0 | 0 | 59015 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524748 |  | 339282 | 7623 | SH |  | SOLE |  | 0 | 0 | 7623 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 2196427 | 51127 | SH |  | SOLE |  | 0 | 0 | 51127 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US S | 808524763 |  | 1834189 | 58864 | SH |  | SOLE |  | 0 | 0 | 58864 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US L | 808524771 |  | 8952611 | 340403 | SH |  | SOLE |  | 0 | 0 | 340403 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 2141073 | 3916 | SH |  | SOLE |  | 0 | 0 | 3916 |
| VAALCO ENERGY INC | COM NEW | 91851C201 |  | 192112 | 47789 | SH |  | SOLE |  | 0 | 0 | 47789 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 476644 | 6488 | SH |  | SOLE |  | 0 | 0 | 6488 |
| VANGUARD WELLINGTON FD | SHORT TRM TAX EX | 921935870 |  | 502719 | 4932 | SH |  | SOLE |  | 0 | 0 | 4932 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 317110 | 4019 | SH |  | SOLE |  | 0 | 0 | 4019 |
| VANGUARD MALVERN FDS | CORE-PLUS BD ETF | 922020755 |  | 2579262 | 32803 | SH |  | SOLE |  | 0 | 0 | 32803 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 2451754 | 48425 | SH |  | SOLE |  | 0 | 0 | 48425 |
| VANGUARD BD INDEX FDS | VANGUARD ULTRA | 92203C303 |  | 1841310 | 36830 | SH |  | SOLE |  | 0 | 0 | 36830 |
| VANGUARD INSTL INDEX FD | 0-3 MO TREAS BIL | 922040845 |  | 2376949 | 31435 | SH |  | SOLE |  | 0 | 0 | 31435 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 6692716 | 48568 | SH |  | SOLE |  | 0 | 0 | 48568 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 582559 | 8163 | SH |  | SOLE |  | 0 | 0 | 8163 |
| V2X INC | COM | 92242T101 |  | 360739 | 6210 | SH |  | SOLE |  | 0 | 0 | 6210 |
| VANGUARD MUN BD FDS | INTERMEDIATE TRM | 922907738 |  | 264776 | 2639 | SH |  | SOLE |  | 0 | 0 | 2639 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 1257218 | 25109 | SH |  | SOLE |  | 0 | 0 | 25109 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 848759 | 1386 | SH |  | SOLE |  | 0 | 0 | 1386 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 542480 | 2599 | SH |  | SOLE |  | 0 | 0 | 2599 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 3559956 | 10848 | SH |  | SOLE |  | 0 | 0 | 10848 |
| VISA INC | COM CL A | 92826C839 |  | 244069 | 715 | SH |  | SOLE |  | 0 | 0 | 715 |
| WARRIOR MET COAL INC | COM | 93627C101 |  | 430025 | 6757 | SH |  | SOLE |  | 0 | 0 | 6757 |
| CLIMB GLOBAL SOLUTIONS INC | COM | 946760105 |  | 522505 | 3875 | SH |  | SOLE |  | 0 | 0 | 3875 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 5520163 | 28243 | SH |  | SOLE |  | 0 | 0 | 28243 |
| XPEL INC | COM | 98379L100 |  | 246669 | 7459 | SH |  | SOLE |  | 0 | 0 | 7459 |

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