Lakewood Capital Management, Lp

Lakewood Capital Management, LP, established in January 2007, specializes in serving as the investment manager for private investment funds. The firm focuses on equity (long and short) and fixed income securities, aiming to capitalize on the best risk/reward opportunities by concentrating on the Investment Manager's best ideas. Lakewood offers two classes of funds, each with specific minimum initial investment amounts. The firm acts as a fiduciary, providing investment advice directly to the funds rather than individual shareholders. As of January 1, 2025, Lakewood managed approximately $2.57 billion on a discretionary basis for two clients. For compensation, Lakewood charges a quarterly management fee ranging from 1.5% to 1.75% of each Limited Partner's capital account. Incentive fees of 20% of net profit are deducted annually. Withdrawal fees apply for early redemptions. The firm may invest in unaffiliated money market funds, mutual funds, or exchange-traded funds, incurring related fees. Lakewood's investment strategies involve finding mispriced securities and making concentrated investments. The firm discloses risks associated with leverage, small to medium capitalization companies, derivatives, IPOs, foreign securities, short selling, lack of diversification, and dependence on key managers. Lakewood has not been involved in any legal or disciplinary events in the past 10 years. The firm receives soft dollar benefits and has policies in place to address conflicts of interest, including proxy voting and class action claims handling.