Lakewood Asset Management LLC

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CIK 1966581

13F portfolio (2026-Q1)

$156M

Positions

107

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

107

Top 5

27.5%

Top 10

40.4%

Effective N

39.5

HHI

0.025

This quarter

7 new · 0 exit →

By sector

Unclassified40.7%

Financials13.5%

Consumer Discretionary12.1%

Industrials11.7%

Energy8.7%

Information Technology7.5%

Health Care2.2%

Materials1.2%

Other2.4%

By market cap

Unknown42.0%

Large ($10–200B)32.8%

Mega (>$200B)16.4%

Mid ($2–10B)5.2%

Small ($300M–2B)2.7%

Micro (<$300M)0.9%

By region

North America59.3%

Other40.7%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	46.78%	31
Oil, Gas & Consumable Fuels	8.28%	10
Specialty Retail	6.36%	4
Banks	5.71%	6
Technology Hardware & Equipment	3.85%	3
Commercial Services & Supplies	3.20%	3
Construction & Engineering	2.68%	3
Software	2.68%	5
Distributors	2.61%	3
Aerospace & Defense	2.27%	2
Pharmaceuticals & Biotechnology	2.04%	4
Machinery	1.89%	5
Insurance	1.56%	3
Transportation Infrastructure	1.31%	1
Textiles, Apparel & Luxury Goods	1.24%	3
Semiconductors & Semiconductor Equipment	0.92%	2
Automobiles & Components	0.92%	2
Utilities	0.81%	2
Chemicals	0.79%	1
Diversified Consumer Services	0.59%	2
Software & IT Services	0.50%	1
Real Estate Management & Development	0.47%	1
Agricultural Products	0.46%	1
Coal & Consumable Fuels	0.43%	1
Hotels, Restaurants & Leisure	0.40%	2
Paper & Forest Products	0.31%	1
Professional Services	0.31%	1
Health Care Equipment & Supplies	0.20%	1
Marine	0.19%	1
Media & Publishing	0.15%	1
Metals & Mining	0.08%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	FNDX	SCHWAB STRATEGIC TR	Unclassified	6.60%
2	BRK.B	BERKSHIRE HATHAWAY INC	Financials	6.12%
3	VBIL	VANGUARD INSTL INDEX FD	Unclassified	5.63%
4	VT	VANGUARD INTL EQUITY INDEX F	Unclassified	4.76%
5	VPLS	VANGUARD MALVERN FDS	Unclassified	4.37%
6	COP	CONOCOPHILLIPS	Energy	3.09%
7	EBAY	EBAY INC	Industrials	2.81%
8	WSM	WILLIAMS SONOMA INC	Consumer Discretionary	2.48%
9	AZO	AUTOZONE INC	Consumer Discretionary	2.26%
10	MCK	MCKESSON CORP	Consumer Discretionary	2.25%

77/107 names classified · sector 59.3% of weight · industry 53.2% · mkt cap 58.0%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 14 quarters

Consumer DiscretionaryMCK, AZO, WSM, KMX, DKS · other

FinancialsBRK.B, BAC, MTB, RF, MKL · other

IndustrialsEBAY, NVR, RTX, BKNG, CARR · other

Information TechnologyAAPL, MSFT, HPE, CSCO, INTC · other

EnergyCOP, SLB, FANG, XOM, APA · other

Health CareBMY, JNJ, AMGN, GILD, PFE · other

Consumer StaplesCVS, CTVA, PM, PEP, KHC · other

MaterialsCF, CVCO, ECL, NTR, DD · other

Communication ServicesMETA, WBD, AMCX, GOOG, VZ · other

UtilitiesEPD, KMI, ED, NEE, OKE · other

Real EstateBN, MMI, RMAX, WY, NLY · other

UnclassifiedBIL, FNDX, VT, VPLS, VBIL · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 59.3% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (68 classified)Lakewood Asset Management LLC centroid (Mid Core)

Consumer DiscretionaryIndustrialsEnergyFinancialsInformation TechnologyHealth CareMaterialsCommunication ServicesConsumer StaplesUtilities

Style box summary for Lakewood Asset Management LLC: centroid Mid Core. Heaviest cells: Mid Core 12.6%, Large Core 9.0%, Mid Value 7.3%.

Classified: 50.2% of book weight (68/107 names) · unclassified 49.8%: FNDX, BRK.B, VBIL, VT, VPLS, VTI, BIL, FNDF, VTIP, VUSB +29 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 107 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	FNDXSCHWAB STRATEGIC TR	370,631	$10M	6.6%	ADD 5%
2	BRK.BBERKSHIRE HATHAWAY INC DEL	19,985	$10M	6.1%	TRIM −14%
3	VBILVANGUARD INSTL INDEX FD	116,503	$9M	5.6%	ADD 6%
4	VTVANGUARD INTL EQUITY INDEX F	53,854	$7M	4.8%	ADD 8%
5	VPLSVANGUARD MALVERN FDS	88,090	$7M	4.4%	ADD 25%
6	COPCONOCOPHILLIPS	36,561	$5M	3.1%	TRIM −20%
7	EBAYEBAY INC.	48,332	$4M	2.8%	TRIM −23%
8	WSMWILLIAMS SONOMA INC	21,246	$4M	2.5%	TRIM −25%
9	AZOAUTOZONE INC	1,047	$4M	2.3%	TRIM −27%
10	MCKMCKESSON CORP	4,064	$4M	2.2%	TRIM −39%
11	RTXRTX CORPORATION	16,835	$3M	2.1%	TRIM −19%
12	VTIVANGUARD INDEX FDS	10,095	$3M	2.1%	HOLD
13	BILSPDR SERIES TRUST	33,374	$3M	2.0%	TRIM −9%
14	AAPLAPPLE INC	11,476	$3M	1.9%	TRIM −22%
15	FNDFSCHWAB STRATEGIC TR	59,134	$3M	1.8%	ADD 10%
16	VTIPVANGUARD MALVERN FDS	57,639	$3M	1.8%	ADD 8%
17	BACBANK AMERICA CORP	58,850	$3M	1.8%	TRIM −31%
18	VUSBVANGUARD BD INDEX FDS	57,236	$3M	1.8%	ADD 8%
19	NVRNVR INC	428	$3M	1.8%	TRIM −23%
20	MTBM & T BK CORP	12,334	$3M	1.6%	TRIM −24%
21	HPEHEWLETT PACKARD ENTERPRISE C	106,965	$3M	1.6%	TRIM −23%
22	FANGDIAMONDBACK ENERGY INC	12,401	$2M	1.6%	TRIM −22%
23	SLBSCHLUMBERGER LTD	45,747	$2M	1.5%	TRIM −23%
24	BKNGBOOKING HOLDINGS INC	486	$2M	1.3%	TRIM −26%
25	RFREGIONS FINANCIAL CORP NEW	76,901	$2M	1.3%	TRIM −24%
26	BMYBRISTOL-MYERS SQUIBB CO	29,851	$2M	1.2%	TRIM −24%
27	DKSDICKS SPORTING GOODS INC	8,055	$2M	1.0%	TRIM −25%
28	UHAL.BU HAUL HOLDING COMPANY	35,612	$2M	1.0%	TRIM −22%
29	MSFTMICROSOFT CORP	4,113	$2M	1.0%	TRIM −2%
30	IVVISHARES TR	2,313	$2M	1.0%	TRIM −12%
31	FNDASCHWAB STRATEGIC TR	45,765	$1M	0.9%	TRIM −17%
32	NICENICE LTD	12,181	$1M	0.9%	HOLD
33	APAAPA CORPORATION	29,635	$1M	0.8%	TRIM −23%
34	CFCF INDS HLDGS INC	9,484	$1M	0.8%	TRIM −23%
35	LEALEAR CORP	10,148	$1M	0.8%	TRIM −26%
36	DFAWDIMENSIONAL ETF TRUST	16,142	$1M	0.8%	NEW
37	VTEBVANGUARD MUN BD FDS	23,644	$1M	0.8%	TRIM −7%
38	MHKMOHAWK INDS INC	11,011	$1M	0.7%	TRIM −25%
39	MKLMARKEL GROUP INC	537	$1M	0.7%	TRIM −21%
40	EPDENTERPRISE PRODS PARTNERS L	25,640	$970,205	0.6%	HOLD
41	KMXCARMAX INC	22,549	$937,587	0.6%	TRIM −25%
42	IWDISHARES TR	4,121	$880,491	0.6%	TRIM −7%
43	VOOVANGUARD INDEX FDS	1,473	$880,191	0.6%	ADD 9%
44	JNJJOHNSON & JOHNSON	3,564	$871,138	0.6%	HOLD
45	CATCATERPILLAR INC	1,145	$811,449	0.5%	TRIM −2%
46	CMICUMMINS INC	1,471	$791,294	0.5%	HOLD
47	DBXDROPBOX INC	34,442	$782,522	0.5%	TRIM −23%
48	LULULULULEMON ATHLETICA INC	5,107	$781,882	0.5%	HOLD
49	METAMETA PLATFORMS INC	1,356	$775,808	0.5%	HOLD
50	LENLENNAR CORP	8,894	$772,364	0.5%	TRIM −22%
51	BNBROOKFIELD CORP	18,349	$742,567	0.5%	HOLD
52	CARRCARRIER GLOBAL CORPORATION	13,090	$737,096	0.5%	HOLD
53	ADIANALOG DEVICES INC	2,283	$726,467	0.5%	HOLD
54	MOHMOLINA HEALTHCARE INC	5,449	$726,352	0.5%	NEW
55	CTVACORTEVA INC	8,576	$717,863	0.5%	HOLD
56	AVGOBROADCOM INC	2,313	$715,897	0.5%	HOLD
57	SPYSTATE STR SPDR S&P 500 ETF T	1,099	$714,488	0.5%	ADD 7%
58	AIGAMERICAN INTL GROUP INC	9,204	$692,564	0.4%	HOLD
59	HCCWARRIOR MET COAL INC	7,255	$675,824	0.4%	ADD 2%
60	VEUVANGUARD INTL EQUITY INDEX F	8,893	$667,844	0.4%	ADD 8%
61	PRDOPERDOCEO ED CORP	17,274	$642,766	0.4%	ADD 5%
62	SLVISHARES SILVER TR	9,280	$632,339	0.4%	HOLD
63	VBRVANGUARD INDEX FDS	2,778	$603,454	0.4%	TRIM −5%
64	GRBKGREEN BRICK PARTNERS INC	9,328	$601,190	0.4%	ADD 5%
65	JPMJPMORGAN CHASE & CO	2,026	$595,881	0.4%	HOLD
66	ATKRATKORE INC	9,690	$570,856	0.4%	TRIM −8%
67	QQQINVESCO QQQ TR	969	$559,287	0.4%	ADD 38%
68	PTLOPORTILLOS INC	104,658	$553,641	0.4%	TRIM −23%
69	BIPBROOKFIELD INFRAST PARTNERS	14,369	$518,994	0.3%	HOLD
70	VXUSVANGUARD STAR FDS	6,546	$504,751	0.3%	HOLD
71	CVCOCAVCO INDS INC DEL	1,016	$492,039	0.3%	ADD 6%
72	VVXV2X INC	7,074	$484,569	0.3%	ADD 6%
73	DCORDIMENSIONAL ETF TRUST	6,470	$466,373	0.3%	NEW
74	SDYSPDR SER TR	3,156	$460,587	0.3%	HOLD
75	OSBCOLD SECOND BANCORP INC ILL	22,651	$456,636	0.3%	ADD 6%
76	PKBKPARKE BANCORP INC	16,023	$455,062	0.3%	ADD 10%
77	SDSANDRIDGE ENERGY INC	25,492	$415,768	0.3%	ADD 3%
78	XOMEXXON MOBIL CORP	2,366	$401,345	0.3%	HOLD
79	XPELXPEL INC	9,058	$400,907	0.3%	ADD 12%
80	BBSIBARRETT BUSINESS SVCS INC	13,278	$387,452	0.2%	ADD 13%
81	FNDCSCHWAB STRATEGIC TR	7,832	$363,102	0.2%	HOLD
82	CVXCHEVRON CORP NEW	1,742	$360,357	0.2%	HOLD
83	FONAR CORP	19,057	$353,698	0.2%	HOLD
84	CLMBCLIMB GLOBAL SOLUTIONS INC	17,543	$347,702	0.2%	ADD 320%
85	EGYVAALCO ENERGY INC	54,305	$344,291	0.2%	ADD 6%
86	KRMDKORU MEDICAL SYSTEMS INC	73,945	$319,442	0.2%	HOLD
87	BTEBAYTEX ENERGY CORP	71,326	$318,827	0.2%	ADD 6%
88	GDGENERAL DYNAMICS CORP	871	$298,953	0.2%	HOLD
89	PANLPANGAEA LOGISTICS SOLUTION L	41,689	$295,160	0.2%	ADD 5%
90	KMIKINDER MORGAN INC DEL	8,626	$289,219	0.2%	ADD 14%
91	YELPYELP INC	11,466	$283,669	0.2%	ADD 73%
92	ORCLORACLE CORP	1,845	$271,447	0.2%	HOLD
93	ACIWACI WORLDWIDE INC	6,569	$269,395	0.2%	TRIM −49%
94	AMGNAMGEN INC	761	$267,641	0.2%	HOLD
95	VCRMVANGUARD MUN BD FDS	3,462	$260,171	0.2%	ADD 3%
96	VTEIVANGUARD MUN BD FDS	2,370	$236,894	0.2%	HOLD
97	ABBVABBVIE INC	1,086	$236,169	0.2%	HOLD
98	EBFENNIS INC	10,974	$235,071	0.2%	ADD 6%
99	AMPYAMPLIFY ENERGY CORP NEW	36,774	$229,470	0.1%	ADD 6%
100	PLOWDOUGLAS DYNAMICS INC	5,311	$223,537	0.1%	NEW
101	VVISA INC	717	$216,727	0.1%	HOLD
102	WLFCWILLIS LEASE FIN CORP	1,268	$215,890	0.1%	NEW
103	MLRMILLER INDS INC TENN	4,518	$205,795	0.1%	NEW
104	PAVEGLOBAL X FDS	4,027	$204,612	0.1%	NEW
105	BOOMDMC GLOBAL INC	23,912	$124,582	0.1%	ADD 2%
106	FLLFULL HSE RESORTS INC	34,601	$77,852	0.0%	ADD 4%
107	CRWSCROWN CRAFTS INC	28,587	$73,612	0.0%	ADD 2%

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

FNDXSCHWAB STRATEGIC TR

366K

322K

335K

340K

354K

371K

$10M

BRK.BBERKSHIRE HATHAWAY INC DEL

21K

23K

24K

23K

20K

$10M

VBILVANGUARD INSTL INDEX FD

—

31K

110K

117K

$9M

VTVANGUARD INTL EQUITY INDEX F

42K

44K

45K

49K

50K

54K

$7M

VPLSVANGUARD MALVERN FDS

11K

17K

24K

33K

71K

88K

$7M

COPCONOCOPHILLIPS

29K

40K

44K

45K

46K

37K

$5M

EBAYEBAY INC.

46K

61K

62K

63K

48K

$4M

WSMWILLIAMS SONOMA INC

23K

29K

28K

21K

$4M

AZOAUTOZONE INC

$4M

MCKMCKESSON CORP

10K

$4M

RTXRTX CORPORATION

21K

17K

$3M

VTIVANGUARD INDEX FDS

13K

11K

10K

$3M

BILSPDR SERIES TRUST

103K

98K

84K

81K

37K

33K

$3M

AAPLAPPLE INC

19K

16K

15K

11K

$3M

FNDFSCHWAB STRATEGIC TR

47K

46K

51K

54K

59K

$3M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Lakewood Asset Management LLC