LAKEWOOD CAPITAL MANAGEMENT, LP

Lakewood Capital Management, LP is a hedge fund sponsor based out of New York City, New York. The company was originally established in 2007 by cofounders Anthony T. Bozza and William L. Jackson, both of whom are still with the company today as its partners. Lakewood Capital Management has grown from its inception to now operate with 12 employees of which 7 are investment professionals. Lakewood Capital Management is employee owned with founder Anthony Bozza holding the highest majority share. The company conducts its research internally and externally, utilizing a fundamental methodology to make its investment decisions. Lakewood Capital Management invests with a long and short strategy, allocating its assets in the public equity and fixed income markets within the United States. The company invests most heavily in the finance sector, which alone makes up over a quarter of the firm’s total asset allocations, and also invests in the information technology, consumer discretionary, health care, transports, and materials sectors, among other sectors to a lesser degree, in order of decreasing allocation. Lakewood Capital Management holds its allocations for just over 5 quarters on average and holds its top 10 allocations, which make up almost two thirds of its total allocations, for 3.8 quarters on average. In the most recent quarter, Lakewood Capital Management had a turnover rate of 48.8%. The company manages over $4.9 billion in total assets under management held in 2 total accounts, both of which are discretionary. Although the company’s total number of accounts has remained steady in recent years, its total assets under management has been increasing, growing significantly from $1.3 billion back in 2012 to approaching four times that amount today. Lakewood Capital Management currently caters exclusively to pooled investment vehicles. The company takes advisory fees in the form of a percentage of assets and various performance based fees.