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LCM
Lakewood Capital Management Portfolio holdings
AUM
$1.58B
1-Year Est. Return
0.92%
This Fund
S&P 500
This Quarter
Est. Return
+8.97%
1 Year Est. Return
+0.92%
3 Year Est. Return
+40.97%
5 Year Est. Return
+44.24%
10 Year Est. Return
+253.14%
AUM
$1.23B
AUM Growth
-$235M
(-16%)
Cap. Flow
-$338M
Cap. Flow
% of AUM
-27.48%
Top 10 Holdings %
Top 10 Hldgs %
52.74%
Holding
62
New
7
Increased
7
Reduced
24
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
News Corp Class A
NWSA
|
+$32.5M |
| 2 |
CDW
CDW
|
+$32.3M |
| 3 |
MDR
McDermott International
MDR
|
+$21.6M |
| 4 |
DOOR
MASONITE INTERNATIONAL CORP
DOOR
|
+$19.9M |
| 5 |
Magnachip Semiconductor
MX
|
+$17.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$62.4M |
| 2 |
IM
Ingram Micro
IM
|
+$39.3M |
| 3 |
SIR
SELECT INCOME REIT
SIR
|
+$35.5M |
| 4 |
AET
Aetna Inc
AET
|
+$35.2M |
| 5 |
Capital One
COF
|
+$26.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.68% |
| 2 | Industrials | 21.77% |
| 3 | Financials | 17.31% |
| 4 | Consumer Discretionary | 6.19% |
| 5 | Communication Services | 5.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Oracle
ORCL
$374B
| $120M | 9.73% |
3,611,437
-419,834
| -10% | -$13.6M |
|
|
SPR
2
DELISTED
Spirit AeroSystems
SPR
| $87.7M | 7.12% |
3,616,511
+598,000
| +20% | +$14.3M |
|
|
IM
3
DELISTED
Ingram Micro
IM
| $85M | 6.9% |
3,686,223
-1,780,762
| -33% | -$39.3M |
|
4
American International
AIG
$41.7B
| $70.8M | 5.75% |
1,456,594
-193,000
| -12% | -$9.17M |
|
5
FedEx
FDX
$72.7B
| $66.2M | 5.37% |
579,764
-9,000
| -2% | -$971K |
|
6
Qualcomm
QCOM
$155B
| $49.7M | 4.03% |
738,000
-100,000
| -12% | -$6.56M |
|
7
Enpro
NPO
$6.63B
| $48.3M | 3.93% |
802,927
-148,381
| -16% | -$8.59M |
|
|
8
Magnachip Semiconductor
MX
$119M
| $42.2M | 3.43% |
1,960,657
+864,285
| +79% | +$17.4M |
|
9
Transocean
RIG
$5.89B
| $41.7M | 3.38% |
936,444
+17,000
| +2% | +$804K |
|
10
General Motors
GM
$80.4B
| $38.2M | 3.1% |
1,062,647
| – | – |
|
11
Cigna
CI
$73.7B
| $36M | 2.92% |
468,655
-199,688
| -30% | -$15.6M |
|
12
Vodafone
VOD
$36.3B
| $34.6M | 2.81% |
965,823
-69,696
| -7% | -$2.2M |
|
|
13
CDW
CDW
$18.9B
| $33.3M | 2.71% |
+1,460,206
| New | +$32.3M |
|
|
14
News Corp Class A
NWSA
$14.9B
| $32.7M | 2.65% |
+2,035,000
| New | +$32.5M |
|
|
I
15
DELISTED
INTELSAT S. A.
I
| $30.3M | 2.46% |
1,263,706
+327,963
| +35% | +$7.52M |
|
16
BWX Technologies
BWXT
$15.5B
| $26M | 2.11% |
1,079,752
-412,224
| -28% | -$9.34M |
|
17
Western Digital
WDC
$188B
| $24.7M | 2% |
514,954
| – | – |
|
|
KFN
18
DELISTED
KKR FINANCIAL HOLDINGS LLC COM
KFN
| $24.3M | 1.98% |
2,355,043
+20,000
| +0.9% | +$209K |
|
19
Assured Guaranty
AGO
$3.66B
| $22.6M | 1.83% |
1,203,853
+60,000
| +5% | +$1.27M |
|
|
20
Capital One
COF
$128B
| $22.2M | 1.8% |
322,731
-395,369
| -55% | -$26.6M |
|
|
GTS
21
DELISTED
Triple-S Management Corporation
GTS
| $21.2M | 1.72% |
1,212,747
+20,702
| +2% | +$399K |
|
|
MDR
22
DELISTED
McDermott International
MDR
| $20.3M | 1.65% |
+910,268
| New | +$21.6M |
|
|
DOOR
23
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $19.6M | 1.59% |
+399,919
| New | +$19.9M |
|
|
AET
24
DELISTED
Aetna Inc
AET
| $19.3M | 1.56% |
300,974
-549,191
| -65% | -$35.2M |
|
|
AHL
25
DELISTED
ASPEN Insurance Holding Limited
AHL
| $19.2M | 1.56% |
530,427
-50,000
| -9% | -$1.84M |
|
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Lakewood Capital Management's Q3 2013 Portfolio in Review
As of Q3 2013, Lakewood Capital Management held 62 positions worth $1.23B, down 16% from $1.47B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Lakewood Capital Management withdrew a net $338M in Q3 2013, closing 15 positions and reducing 24 holdings. Its most notable exit was Microsoft, an estimated $62.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Industrials and Financials.
Against the trend, Lakewood Capital Management opened a new position in News Corp Class A worth $32.7M.
- Lakewood Capital Management's largest Q3 2013 buy was News Corp Class A: 2,035,000 shares worth $32.7M.
- Lakewood Capital Management added most to Magnachip Semiconductor in Q3 2013, an estimated $17.4M increase.
- Lakewood Capital Management's biggest Q3 2013 reduction was Ingram Micro, cutting an estimated $39.3M.
- Lakewood Capital Management fully exited Microsoft in Q3 2013, selling an estimated $62.4M.
- Lakewood Capital Management's ten largest holdings make up 53% of its $1.23B portfolio in Q3 2013.
- Lakewood Capital Management opened 7 new positions and closed 15 in Q3 2013.
- Lakewood Capital Management's portfolio value fell 16% quarter-over-quarter to $1.23B.
Based on Lakewood Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.