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Lakewood Capital Management’s Latest Moves

Nina Zdinjak

Lakewood Capital Management is an NYC-based hedge fund sponsor that was founded back in 2007 by Anthony Bozza. The fund utilized long/short investment strategy covering a variety of industries. As of the end of July 2017, Lakewood Capital Management has around $4.27 billion in asset under management on a discretionary basis. Before launching is own investment management firm, Mr. Anthony Bozza sharpened his investment skills at SAB Capital Management, Gleacher & Co. and KKR. H earned a BS summa cum laude in Economics from the University of Pennsylvania, The Wharton School. In this article, we are going to highlight the most important investment moves the fund had made in Q1 2019.

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Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 103%, beating the S&P 500 ETF (SPY) by nearly 38 percentage points (see the details here). Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. We take a closer look at hedge funds like Lakewood Capital Management in order to identify their best and worst ideas.

At the end of the quarter, Lakewood Capital Management’s portfolio counted 36 long positions and it carried a value of $3.57 billion. During the quarter the fund initiated 5 new positions, among which were Dell Technologies Inc. (NYSE:DELL), Plantronics, Inc. (NYSE:PLT), Fortune Brands Home & Security, Inc. (NYSE:FBHS), and Triple-S Management Corporation (NYSE:GTS). It also boosted its stakes in Comcast Corporation (NASDAQ:CMCSA), Baidu, Inc. (NASDAQ:BIDU), FedEx Corporation (NYSE:FDX), and The Goldman Sachs Group, Inc. (NYSE:GS). Out of 9 exited positions the top ones included D.R. Horton, Inc. (NYSE:DHI), Toll Brothers, Inc. (NYSE:TOL), YY Inc. (NASDAQ:YY), and Celestica Inc. (NYSE:CLS). The top positions that were lowered during the quarter were Citigroup Inc. (NYSE:C), Alphabet Inc. (NASDAQ:GOOGL), CDK Global, Inc. (NASDAQ:CDK), and United Technologies Corporation (NYSE:UTX).

Disclosure: None.

This article is originally published at Insider Monkey.