# EDGAR Filing Document

**Accession Number:** 0001424381
**File Stem:** 0001172661-25-003950
**Filing Date:** 2025-8
**Character Count:** 21949
**Document Hash:** d5bb2909ef4920bd38aa3929e7d720c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003950.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001172661-25-003950

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**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:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12815
- **FILM NUMBER:** 251276753

**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 N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001424381

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** LAKEWOOD CAPITAL MANAGEMENT, LP

**Address:** 650 MADISON AVENUE, NEW YORK, NY 10022

**Telephone number:** 212-584-2210

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-12815

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 549300N7EUJ8SSOB3S92

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 2

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                         | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                            | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| ABN AMRO BANK NV                       | N0162C102 | 04/23/2025     | INTEGRATED ANNUAL REPORT AND CORPORATE GOVERNANCE: REMUNERATION REPORT FOR 2024                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |        3847890 |                0 | FOR         |                                  3847890 | FOR                         |  |
| AIR LEASE CORPORATION                  | 00912X302 | 05/02/2025     | Advisory vote to approve named executive officer compensation                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         337878 |                0 | FOR         |                                   337878 | FOR                         |  |
| ALLY FINANCIAL INC.                    | 02005N100 | 05/06/2025     | Advisory vote on executive compensation.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         316809 |                0 | FOR         |                                   316809 | FOR                         |  |
| ARROW ELECTRONICS, INC.                | 042735100 | 05/06/2025     | To approve, by non-binding vote, named executive officer compensation.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         465360 |                0 | FOR         |                                   465360 | FOR                         |  |
| ASBURY AUTOMOTIVE GROUP, INC.          | 043436104 | 05/13/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         128629 |                0 | FOR         |                                   128629 | FOR                         |  |
| AVIS BUDGET GROUP, INC.                | 053774105 | 05/14/2025     | Advisory approval of the compensation of our named executive officers.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |          96775 |                0 | FOR         |                                    96775 | FOR                         |  |
| AXALTA COATING SYSTEMS LTD.            | G0750C108 | 06/04/2025     | Non-binding advisory vote to approve the compensation of our named executive officers                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |         884897 |                0 | FOR         |                                   884897 | FOR                         |  |
| BANDWIDTH INC.                         | 05988J103 | 05/29/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the proxy statement.                                                                           | SECTION 14A SAY-ON-PAY VOTES |         180721 |                0 | FOR         |                                   180721 | FOR                         |  |
| BARCLAYS PLC                           | G08036124 | 05/07/2025     | TO APPROVE THE REMUNERATION REPORT FOR THE YEAR ENDED 31 DECEMBER 2024                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |        4516000 |                0 | FOR         |                                  4516000 | FOR                         |  |
| BRUNSWICK CORPORATION                  | 117043109 | 05/07/2025     | Advisory vote to approve the compensation of our Named Executive Officers.                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |         733467 |                0 | FOR         |                                   733467 | FOR                         |  |
| BUZZI SPA                              | T2320M109 | 05/13/2025     | REPORT ON THE REMUNERATION POLICY AND COMPENSATION PAID: NON-BINDING RESOLUTION ON SECTION TWO ON COMPENSATION PAID, PURSUANT TO ART. 123-TER, PARAGRAPH 6, OF LEGISLATIVE DECREE NO. 58/1998               | SECTION 14A SAY-ON-PAY VOTES |         426576 |                0 | FOR         |                                   426576 | FOR                         |  |
| CAPITAL ONE FINANCIAL CORPORATION      | 14040H105 | 05/08/2025     | Advisory vote on our Named Executive Officer compensation ("Say on Pay").                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          38000 |                0 | FOR         |                                    38000 | FOR                         |  |
| CHARLES RIVER LABORATORIES INTL., INC. | 159864107 | 05/20/2025     | Advisory Approval of 2024 Executive Officer Compensation                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         135554 |                0 | FOR         |                                   135554 | FOR                         |  |
| CITIGROUP INC.                         | 172967424 | 04/29/2025     | Advisory vote to approve our 2024 Executive Compensation.                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         640839 |                0 | FOR         |                                   640839 | FOR                         |  |
| COMCAST CORPORATION                    | 20030N101 | 06/18/2025     | Advisory vote on executive compensation                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        1110748 |                0 | FOR         |                                  1110748 | FOR                         |  |
| ELEVANCE HEALTH, INC.                  | 036752103 | 05/14/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |         190150 |                0 | FOR         |                                   190150 | FOR                         |  |
| FEDEX CORPORATION                      | 31428X106 | 09/23/2024     | Advisory vote to approve named executive officer compensation.                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         165290 |                0 | FOR         |                                   165290 | FOR                         |  |
| FIRST AMERICAN FINANCIAL CORPORATION   | 31847R102 | 05/13/2025     | Advisory vote to approve executive compensation.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         739604 |                0 | FOR         |                                   739604 | FOR                         |  |
| GILDAN ACTIVEWEAR INC.                 | 375916103 | 04/30/2025     | Approving an advisory resolution on the Corporation's approach to executive compensation.                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         211041 |                0 | FOR         |                                   211041 | FOR                         |  |
| GLOBAL PAYMENTS INC.                   | 37940X102 | 04/24/2025     | Approval, on an advisory basis, of the compensation of the company's named executive officers for 2024.                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         244300 |                0 | FOR         |                                   244300 | FOR                         |  |
| GOODRX HOLDINGS, INC.                  | 38246G108 | 06/03/2025     | Approval, on an advisory (non-binding) basis, of the compensation of the Company's named executive officers.                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        4885747 |                0 | FOR         |                                  4885747 | FOR                         |  |
| GROUP 1 AUTOMOTIVE, INC.               | 398905109 | 05/13/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         114476 |                0 | FOR         |                                   114476 | FOR                         |  |
| JULIUS BAER GRUPPE AG                  | H4414N103 | 04/10/2025     | CONSULTATIVE VOTE ON THE REMUNERATION REPORT 2024                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         281477 |             9458 | FOR         |                                   281477 | FOR                         |  |
| KEMPER CORPORATION                     | 488401100 | 05/07/2025     | Advisory vote to approve the compensation of the Company's Named Executive Officers.                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         938090 |                0 | FOR         |                                   938090 | FOR                         |  |
| LAMB WESTON HOLDINGS, INC.             | 513272104 | 09/26/2024     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |           1928 |                0 | FOR         |                                     1928 | FOR                         |  |
| LIGHTSPEED COMMERCE INC.               | 53229C107 | 08/01/2024     | Consider, and if deemed appropriate, approve an advisory, non-binding resolution on the Company's approach to executive compensation as disclosed in the management information circular for the Meeting    | SECTION 14A SAY-ON-PAY VOTES |         700000 |                0 | FOR         |                                   700000 | FOR                         |  |
| MERCURY GENERAL CORPORATION            | 589400100 | 05/14/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          98218 |                0 | FOR         |                                    98218 | FOR                         |  |
| META PLATFORMS, INC.                   | 30303M102 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation program for Meta Platforms, Inc.'s named executive officers as disclosed in Meta Platforms, Inc.'s proxy statement.                           | SECTION 14A SAY-ON-PAY VOTES |          16470 |                0 | FOR         |                                    16470 | FOR                         |  |
| META PLATFORMS, INC.                   | 30303M102 | 05/28/2025     | To vote, on a non-binding advisory basis, whether a non-binding advisory vote on the compensation program for Meta Platforms, Inc.'s named executive officers should be held every one, two or three years. | SECTION 14A SAY-ON-PAY VOTES |          16470 |                0 | 1 YEAR      |                                    16470 | AGAINST                     |  |
| ROIVANT SCIENCES LTD                   | G76279101 | 09/10/2024     | To cast a non-binding, advisory vote to approve the compensation of our named executive officers.                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        1744800 |                0 | FOR         |                                  1744800 | FOR                         |  |
| ROIVANT SCIENCES LTD                   | G76279101 | 09/10/2024     | To cast a non-binding, advisory vote on the frequency of future non-binding, advisory votes to approve the compensation of our named executive officers every.                                              | SECTION 14A SAY-ON-PAY VOTES |        1744800 |                0 | 1 YEAR      |                                  1744800 | FOR                         |  |
| SEADRILL LIMITED                       | G7997W102 | 05/14/2025     | To conduct an advisory vote to approve the compensation of our named executive officers for 2024.                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         639100 |                0 | FOR         |                                   639100 | FOR                         |  |
| SEADRILL LIMITED                       | G7997W102 | 05/14/2025     | To conduct an advisory vote to approve the frequency of future advisory votes to approve executive compensation.                                                                                            | SECTION 14A SAY-ON-PAY VOTES |         639100 |                0 | 1 YEAR      |                                   639100 | FOR                         |  |
| SLEEP NUMBER CORPORATION               | 83125X103 | 05/28/2025     | Advisory Vote to Approve Executive Compensation (Say on Pay)                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |         690000 |                0 | FOR         |                                   690000 | FOR                         |  |
| SMURFIT WESTROCK PLC                   | G8267P108 | 05/02/2025     | Approve, in a non-binding, advisory vote, the compensation of the Company's named executive officers.                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |        1160297 |                0 | FOR         |                                  1160297 | FOR                         |  |
| SMURFIT WESTROCK PLC                   | G8267P108 | 05/02/2025     | Approve, in a non-binding, advisory vote, the frequency of future non-binding, advisory votes to approve named executive officer compensation.                                                              | SECTION 14A SAY-ON-PAY VOTES |        1160297 |                0 | 1 YEAR      |                                  1160297 | FOR                         |  |
| SOTERA HEALTH COMPANY                  | 83601L102 | 05/21/2025     | Approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |        2533551 |                0 | FOR         |                                  2533551 | FOR                         |  |
| SS TECHNOLOGIES HOLDINGS, INC.         | 78467J100 | 05/21/2025     | To approve, on an advisory basis, the compensation of SS's named executive officers.                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         647954 |                0 | FOR         |                                   647954 | FOR                         |  |
| TABOOLA.COM LTD.                       | M8744T106 | 06/04/2025     | To approve an advisory proposal on executive compensation.                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |        1893541 |                0 | FOR         |                                  1893541 | FOR                         |  |
| THE CIGNA GROUP                        | 125523100 | 04/23/2025     | Advisory approval of executive compensation                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |         393607 |                0 | FOR         |                                   393607 | FOR                         |  |
| THE TORONTO-DOMINION BANK              | 891160509 | 04/10/2025     | Approach to executive compensation disclosed in the report of the Human Resources Committee and approach to executive compensation sections of the management proxy circular *Advisory Vote*                | SECTION 14A SAY-ON-PAY VOTES |         290422 |                0 | FOR         |                                   290422 | FOR                         |  |
| TRINSEO PLC                            | G9059U107 | 06/25/2025     | To approve, on an advisory basis, the compensation paid by the Company to its named executive officers.                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         281279 |                0 | FOR         |                                   281279 | FOR                         |  |
| UNICREDIT SPA                          | T9T23L642 | 03/27/2025     | APPROVE SECOND SECTION OF THE REMUNERATION REPORT                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        1170050 |                0 | FOR         |                                  1170050 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** LAKEWOOD CAPITAL MANAGEMENT, LP

**By (Signature):** Chris R. Deneen

**By (Printed Signature):** Chris R. Deneen

**By (Title):** Chief Financial Officer

**Date:** 08/28/2025