UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
03-31-2025
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
Address:
650 Madison Avenue
25th Floor
New York, NY 10022
Form 13F File Number:
028-12815

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
Title:
Chief Financial Officer
Phone:
212-584-2219


Signature, Place, and Date of Signing:

/s/ Chris R. Deneen
                         [Signature]
New York, NEW YORK
                 [City, State]
05-15-2025
                           [Date]
                          

Report Type (Check only one.):

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

☐ 13F NOTICE. (Check here if no holdings reported are 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:
47
Form 13F Information table Value Total:
1146741259
          (thousands)

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.Form 13F File NumberNameCIK
1
028-14591
Lakewood Capital Partners, LP
0001409705
2
028-14592
Lakewood Capital Advisors, LLC
0001534288


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AIR LEASE CORPCL A00912X30221,685,296448,878SHSOLE448,878 0 0
ALLY FINL INCCOM02005N10011,554,024316,809SHSOLE316,809 0 0
ALPHABET INCCAP STK CL A02079K30533,507,395216,680SHSOLE216,680 0 0
APOLLO GLOBAL MGMT INCCOM03769M10610,023,59773,197SHSOLE73,197 0 0
ARROW ELECTRS INCCOM04273510056,832,389547,360SHSOLE547,360 0 0
ASBURY AUTOMOTIVE GROUP INCCOM04343610428,406,428128,629SHSOLE128,629 0 0
AVIS BUDGET GROUPCOM0537741057,345,22396,775SHSOLE96,775 0 0
AXALTA COATING SYS LTDCOMG0750C10829,352,033884,897SHSOLE884,897 0 0
BANDWIDTH INCCOM CL A05988J1032,367,445180,721SHSOLE180,721 0 0
BRUNSWICK CORPCOM11704310939,497,198733,467SHSOLE733,467 0 0
CACI INTL INCCL A12719030415,455,77142,123SHSOLE42,123 0 0
CAESARS ENTERTAINMENT INC NECOM12769G1002,650,000106,000SHSOLE106,000 0 0
CAPITAL ONE FINL CORPCOM14040H1056,813,40038,000SHSOLE38,000 0 0
CHARLES RIV LABS INTL INCCOM15986410721,108,925140,240SHSOLE140,240 0 0
CITIGROUP INCCOM NEW17296742463,027,691887,839SHSOLE887,839 0 0
CITIGROUP INCCOM NEW17296742417,392,550245,000SHCallSOLE245,000 0 0
COMCAST CORP NEWCL A20030N10140,986,6011,110,748SHSOLE1,110,748 0 0
CS DISCO INCCOM1263271054,157,6121,016,531SHSOLE1,016,531 0 0
ELEVANCE HEALTH INCCOM03675210382,707,644190,150SHSOLE190,150 0 0
FEDEX CORPCOM31428X10611,781,88748,330SHSOLE48,330 0 0
FIRST AMERN FINL CORPCOM31847R10248,540,211739,604SHSOLE739,604 0 0
GILDAN ACTIVEWEAR INCCOM3759161039,332,233211,041SHSOLE211,041 0 0
GLOBAL PMTS INCCOM37940X10223,921,856244,300SHSOLE244,300 0 0
GOODRX HLDGS INCCOM CL A38246G10821,546,1444,885,747SHSOLE4,885,747 0 0
GOODYEAR TIRE & RUBR COCOM3825501012,772,000300,000SHCallSOLE300,000 0 0
GRAYSCALE BITCOIN MINI TR ETSHS NEW389930207901,30324,700SHSOLE24,700 0 0
GRAYSCALE BITCOIN TRUST ETFSHS REP COM UT3896371098,048,495123,500SHSOLE123,500 0 0
GROUP 1 AUTOMOTIVE INCCOM39890510943,724,108114,476SHSOLE114,476 0 0
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F10118,654,253398,510SHSOLE398,510 0 0
JD.COM INCSPON ADS CL A47215P10613,727,912333,850SHSOLE333,850 0 0
KEMPER CORPCOM48840110062,711,317938,090SHSOLE938,090 0 0
MERCURY GENL CORP NEWCOM5894001005,490,38698,218SHSOLE98,218 0 0
META PLATFORMS INCCL A30303M1029,492,64916,470SHSOLE16,470 0 0
NICE LTDSPONSORED ADR65365610812,333,60080,000SHSOLE80,000 0 0
ONTO INNOVATION INCCOM683344105616,2865,079SHSOLE5,079 0 0
SEADRILL LTDCOMG7997W10216,152,500646,100SHSOLE646,100 0 0
SELECT SECTOR SPDR TRENERGY81369Y5064,672,50050,000SHPutSOLE50,000 0 0
SIGNET JEWELERS LIMITEDSHSG8127610046,157,700795,000SHSOLE795,000 0 0
SLEEP NUMBER CORPCOM83125X1034,374,600690,000SHSOLE690,000 0 0
SMURFIT WESTROCK PLCSHSG8267P10852,282,9831,160,297SHSOLE1,160,297 0 0
SOTERA HEALTH COCOM83601L10232,854,8372,817,739SHSOLE2,817,739 0 0
SS&C TECHNOLOGIES HLDGS INCCOM78467J10054,123,598647,954SHSOLE647,954 0 0
TABOOLA.COM LTDORD SHSM8744T1065,585,9461,893,541SHSOLE1,893,541 0 0
TD SYNNEX CORPORATIONCOM87162W1005,925,72057,000SHSOLE57,000 0 0
TFS FINL CORPCOM87240R1075,613,203453,043SHSOLE453,043 0 0
THE CIGNA GROUPCOM125523100129,496,703393,607SHSOLE393,607 0 0
TRINSEO PLCSHSG9059U1071,035,107281,279SHSOLE281,279 0 0