# EDGAR Filing Document

**Accession Number:** 0001424381
**File Stem:** 0001172661-25-004842
**Filing Date:** 2025-11
**Character Count:** 9640
**Document Hash:** 032efcadee82952c644eaac3dbbab11e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004842.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001172661-25-004842

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LAKEWOOD CAPITAL MANAGEMENT, LP
- **CENTRAL INDEX KEY:** 0001424381

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12815
- **FILM NUMBER:** 251481534

**BUSINESS ADDRESS:**
- **STREET 1:** 650 MADISON AVENUE
- **STREET 2:** 25TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 584-2211

**MAIL ADDRESS:**
- **STREET 1:** 650 MADISON AVENUE
- **STREET 2:** 25TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### 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 CAPITAL MANAGEMENT LP<br>**Address:** 650 Madison Avenue<br>25th Floor<br>New York, NY 10022

**Form 13F File Number:** 028-12815

**CRD Number (if applicable):** 000156429

**SEC File Number (if applicable):** 801-73099

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:** Chris R. Deneen<br>**Title:** Chief Financial Officer<br>**Phone:** 212-584-2219

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

/s/ Chris R. Deneen  New York, NY  11-14-2025<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:** 2

**Form 13F Information Table Entry Total:** 56

**Form 13F Information Table Value Total:** $1325244837

      (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.]

| No.   | Name                          | Form 13F File Number   |
|:---|:---|:---|
|  | Lakewood Capital Partners LP  | 028-14591              |
|  | Lakewood Capital Advisors LLC | 028-14592              |

### 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 |
| AIR LEASE CORP | CL A | 00912X302 |  | 30926135 | 485878 | SH |  | SOLE |  | 485878 | 0 | 0 |
| ALLY FINL INC | COM | 02005N100 |  | 12418913 | 316809 | SH |  | SOLE |  | 316809 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 19272968 | 79280 | SH |  | SOLE |  | 79280 | 0 | 0 |
| AMERICAN EAGLE OUTFITTERS IN | COM | 02553E106 |  | 11051349 | 645900 | SH |  | SOLE |  | 645900 | 0 | 0 |
| AMRIZE LTD | SHS | H2927K103 |  | 29845950 | 615000 | SH |  | SOLE |  | 615000 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 9754964 | 73197 | SH |  | SOLE |  | 73197 | 0 | 0 |
| ARROW ELECTRS INC | COM | 042735100 |  | 69860560 | 577360 | SH |  | SOLE |  | 577360 | 0 | 0 |
| ASBURY AUTOMOTIVE GROUP INC | COM | 043436104 |  | 26187684 | 107129 | SH |  | SOLE |  | 107129 | 0 | 0 |
| AXALTA COATING SYS LTD | COM | G0750C108 |  | 33990486 | 1187648 | SH |  | SOLE |  | 1187648 | 0 | 0 |
| BANDWIDTH INC | COM CL A | 05988J103 |  | 3012619 | 180721 | SH |  | SOLE |  | 180721 | 0 | 0 |
| BEAZER HOMES USA INC | COM NEW | 07556Q881 |  | 17209697 | 701006 | SH |  | SOLE |  | 701006 | 0 | 0 |
| BRUNSWICK CORP | COM | 117043109 |  | 46384453 | 733467 | SH |  | SOLE |  | 733467 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 3826440 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| CHARLES RIV LABS INTL INC | COM | 159864107 |  | 21941950 | 140240 | SH |  | SOLE |  | 140240 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 42004659 | 413839 | SH |  | SOLE |  | 413839 | 0 | 0 |
| COCA-COLA FEMSA SAB DE CV | SPONS ADS REP | 191241108 |  | 10952580 | 131800 | SH |  | SOLE |  | 131800 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 34899702 | 1110748 | SH |  | SOLE |  | 1110748 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 3703425 | 27500 | SH |  | SOLE |  | 27500 | 0 | 0 |
| CS DISCO INC | COM | 126327105 |  | 6566790 | 1016531 | SH |  | SOLE |  | 1016531 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 4936800 | 132000 | SH |  | SOLE |  | 132000 | 0 | 0 |
| D-WAVE QUANTUM INC | COM | 26740W109 |  | 494200 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 97469148 | 301650 | SH |  | SOLE |  | 301650 | 0 | 0 |
| FIRST AMERN FINL CORP | COM | 31847R102 |  | 48861201 | 760604 | SH |  | SOLE |  | 760604 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 6186970 | 107041 | SH |  | SOLE |  | 107041 | 0 | 0 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 20296444 | 244300 | SH |  | SOLE |  | 244300 | 0 | 0 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 12123000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| GOODRX HLDGS INC | COM CL A | 38246G108 |  | 6312319 | 1492274 | SH |  | SOLE |  | 1492274 | 0 | 0 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 |  | 1250561 | 24700 | SH |  | SOLE |  | 24700 | 0 | 0 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 11086595 | 123500 | SH |  | SOLE |  | 123500 | 0 | 0 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 |  | 45184283 | 103276 | SH |  | SOLE |  | 103276 | 0 | 0 |
| HIPPO HLDGS INC | COM NEW | 433539202 |  | 6870400 | 190000 | SH |  | SOLE |  | 190000 | 0 | 0 |
| ICON PLC | SHS | G4705A100 |  | 41860000 | 239200 | SH |  | SOLE |  | 239200 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 43154368 | 227200 | SH |  | SOLE |  | 227200 | 0 | 0 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 |  | 938600 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 25903150 | 398510 | SH |  | SOLE |  | 398510 | 0 | 0 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 15525873 | 443850 | SH |  | SOLE |  | 443850 | 0 | 0 |
| KEMPER CORP | COM | 488401100 |  | 60885190 | 1181090 | SH |  | SOLE |  | 1181090 | 0 | 0 |
| MERCURY GENL CORP NEW | COM | 589400100 |  | 13413722 | 158218 | SH |  | SOLE |  | 158218 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 12095239 | 16470 | SH |  | SOLE |  | 16470 | 0 | 0 |
| NICE LTD | SPONSORED ADR | 653656108 |  | 13840968 | 95600 | SH |  | SOLE |  | 95600 | 0 | 0 |
| NIQ GLOBAL INTELLIGENCE PLC | ORDINARY SHARES | G63755105 |  | 1774100 | 113000 | SH |  | SOLE |  | 113000 | 0 | 0 |
| OKLO INC | COM CL A | 02156V109 |  | 1116300 | 10000 | SH | Put | SOLE |  | 10000 | 0 | 0 |
| QUANTUM COMPUTING INC | COM | 74766W108 |  | 276150 | 15000 | SH | Put | SOLE |  | 15000 | 0 | 0 |
| QUANTUMSCAPE CORP | COM CL A | 74767V109 |  | 246400 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| RIGETTI COMPUTING INC | COMMON STOCK | 76655K103 |  | 1182663 | 39700 | SH | Put | SOLE |  | 39700 | 0 | 0 |
| SEADRILL LTD | COM | G7997W102 |  | 15108021 | 500100 | SH |  | SOLE |  | 500100 | 0 | 0 |
| SIGNET JEWELERS LIMITED | SHS | G81276100 |  | 46645896 | 486300 | SH |  | SOLE |  | 486300 | 0 | 0 |
| SLEEP NUMBER CORP | COM | 83125X103 |  | 391702 | 55798 | SH |  | SOLE |  | 55798 | 0 | 0 |
| SMURFIT WESTROCK PLC | SHS | G8267P108 |  | 49393843 | 1160297 | SH |  | SOLE |  | 1160297 | 0 | 0 |
| SOTERA HEALTH CO | COM | 83601L102 |  | 48176884 | 3062739 | SH |  | SOLE |  | 3062739 | 0 | 0 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 68341117 | 769954 | SH |  | SOLE |  | 769954 | 0 | 0 |
| TABOOLA.COM LTD | ORD SHS | M8744T106 |  | 6456975 | 1893541 | SH |  | SOLE |  | 1893541 | 0 | 0 |
| TFS FINL CORP | COM | 87240R107 |  | 33377308 | 2533382 | SH |  | SOLE |  | 2533382 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 97228743 | 337307 | SH |  | SOLE |  | 337307 | 0 | 0 |
| TRINSEO PLC | SHS | G9059U107 |  | 661006 | 281279 | SH |  | SOLE |  | 281279 | 0 | 0 |
| WEX INC | COM | 96208T104 |  | 32367374 | 205468 | SH |  | SOLE |  | 205468 | 0 | 0 |

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