LAKEWOOD CAPITAL MANAGEMENT, LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UNP	UNION PAC CORP	157,400	$36,410	2.4%	$227.32	0.0%	COM	907818108
ASTS	AST SPACEMOBILE INC	436,000	$31,667	2.1%	—	—	PUT	00217D100
HSIC	HENRY SCHEIN INC	305,000	$23,052	1.5%	$70.36	0.0%	COM	806407102
VTRS	VIATRIS INC	1,681,300	$20,932	1.4%	$10.72	0.0%	COM	92556V106
UNFI	UNITED NAT FOODS INC	550,000	$18,519	1.2%	$37.18	0.0%	COM	911163103
RELY	REMITLY GLOBAL INC	1,121,200	$15,473	1.0%	$14.53	0.0%	COM	75960P104
FIX	COMFORT SYS USA INC	8,000	$7,466	0.5%	—	—	PUT	199908104
NICE	NICE LTD	54,200	$6,127	0.4%	$146.13	—	CALL	653656108
KLAR	KLARNA GROUP PLC	170,000	$4,915	0.3%	$34.34	0.0%	SHS	G5279N105
EME	EMCOR GROUP INC	7,000	$4,283	0.3%	$647.50	0.0%	COM	29084Q100
KWEB	KRANESHARES TRUST	110,000	$3,746	0.2%	$34.05	—	CSI CHI INTERNET	500767306
IONQ	IONQ INC	50,000	$2,244	0.1%	—	—	PUT	46222L108

Increased Positions (24)

ALLY ALLY FINL INC 3.1%

Value ($000) $46,957 (+278.1%) Shares 1,036,809 (+227.3%) Est. Cost $35.76 Unrealized +14.1%

AXTA AXALTA COATING SYS LTD 4.1%

Value ($000) $62,347 (+83.4%) Shares 1,929,648 (+62.5%) Est. Cost $29.50 Unrealized -0.6%

META META PLATFORMS INC 2.4%

Value ($000) $36,681 (+203.3%) Shares 55,570 (+237.4%) Est. Cost $562.32 Unrealized +18.7%

ICLR ICON PLC 4.0%

Value ($000) $60,588 (+44.7%) Shares 332,500 (+39.0%) Est. Cost $155.38 Unrealized +14.6%

OKLO OKLO INC 1.1%

Value ($000) $17,222 (+1442.8%) Shares 240,000 (+2300.0%) Est. Cost — Unrealized —

CI THE CIGNA GROUP 7.4%

Value ($000) $111,553 (+14.7%) Shares 405,307 (+20.2%) Est. Cost $231.43 Unrealized +20.7%

APO APOLLO GLOBAL MGMT INC 1.4%

Value ($000) $21,887 (+124.4%) Shares 151,197 (+106.6%) Est. Cost $98.78 Unrealized +34.2%

SHC SOTERA HEALTH CO 4.0%

Value ($000) $59,969 (+24.5%) Shares 3,399,581 (+11.0%) Est. Cost $14.67 Unrealized +12.7%

BC BRUNSWICK CORP 3.8%

Value ($000) $57,793 (+24.6%) Shares 778,467 (+6.1%) Est. Cost $71.77 Unrealized -5.9%

AMRZ AMRIZE LTD 2.5%

Value ($000) $37,813 (+26.7%) Shares 699,200 (+13.7%) Est. Cost $51.00 Unrealized +0.1%

KOF COCA-COLA FEMSA SAB DE CV 1.2%

Value ($000) $17,692 (+61.5%) Shares 186,800 (+41.7%) Est. Cost $86.52 Unrealized —

RGTI RIGETTI COMPUTING INC 0.4%

Value ($000) $6,417 (+442.6%) Shares 289,700 (+629.7%) Est. Cost — Unrealized —

GLNG GOLAR LNG LTD 1.1%

Value ($000) $16,186 (+33.5%) Shares 435,000 (+45.0%) Est. Cost $38.63 Unrealized -1.4%

FAF FIRST AMERN FINL CORP 3.5%

Value ($000) $52,464 (+7.4%) Shares 853,904 (+12.3%) Est. Cost $49.98 Unrealized +24.7%

SW SMURFIT WESTROCK PLC 3.0%

Value ($000) $45,835 (-7.2%) Shares 1,185,297 (+2.2%) Est. Cost $44.03 Unrealized -13.4%

TFSL TFS FINL CORP 2.4%

Value ($000) $36,800 (+10.3%) Shares 2,750,382 (+8.6%) Est. Cost $12.30 Unrealized +9.9%

NICE NICE LTD 1.1%

Value ($000) $17,114 (+23.6%) Shares 151,400 (+58.4%) Est. Cost $146.13 Unrealized —

SSNC SS&C TECHNOLOGIES HLDGS INC 4.7%

Value ($000) $71,593 (+4.8%) Shares 818,954 (+6.4%) Est. Cost $69.68 Unrealized +22.4%

JD JD.COM INC 1.2%

Value ($000) $18,341 (+18.1%) Shares 639,050 (+44.0%) Est. Cost $34.90 Unrealized —

LAW CS DISCO INC 0.6%

Value ($000) $8,393 (+27.8%) Shares 1,081,531 (+6.4%) Est. Cost $7.18 Unrealized -1.7%

WEX WEX INC 2.2%

Value ($000) $33,963 (+4.9%) Shares 227,968 (+11.0%) Est. Cost $139.68 Unrealized +7.9%

GPI GROUP 1 AUTOMOTIVE INC 2.9%

Value ($000) $43,765 (-3.1%) Shares 111,276 (+7.7%) Est. Cost $190.31 Unrealized +115.7%

QS QUANTUMSCAPE CORP 0.1%

Value ($000) $1,250 (+407.5%) Shares 120,000 (+500.0%) Est. Cost — Unrealized —

DKNG DRAFTKINGS INC NEW 0.4%

Value ($000) $5,686 (+15.2%) Shares 165,000 (+25.0%) Est. Cost $42.05 Unrealized -21.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ALLY	ALLY FINL INC	1,036,809 (+227.3%)	$46,957 (+278.1%)	3.1%	$35.76	+14.1%	COM	02005N100
AXTA	AXALTA COATING SYS LTD	1,929,648 (+62.5%)	$62,347 (+83.4%)	4.1%	$29.50	-0.6%	COM	G0750C108
META	META PLATFORMS INC	55,570 (+237.4%)	$36,681 (+203.3%)	2.4%	$562.32	+18.7%	CL A	30303M102
ICLR	ICON PLC	332,500 (+39.0%)	$60,588 (+44.7%)	4.0%	$155.38	+14.6%	SHS	G4705A100
OKLO	OKLO INC	240,000 (+2300.0%)	$17,222 (+1442.8%)	1.1%	—	—	PUT	02156V109
CI	THE CIGNA GROUP	405,307 (+20.2%)	$111,553 (+14.7%)	7.4%	$231.43	+20.7%	COM	125523100
APO	APOLLO GLOBAL MGMT INC	151,197 (+106.6%)	$21,887 (+124.4%)	1.4%	$98.78	+34.2%	COM	03769M106
SHC	SOTERA HEALTH CO	3,399,581 (+11.0%)	$59,969 (+24.5%)	4.0%	$14.67	+12.7%	COM	83601L102
BC	BRUNSWICK CORP	778,467 (+6.1%)	$57,793 (+24.6%)	3.8%	$71.77	-5.9%	COM	117043109
AMRZ	AMRIZE LTD	699,200 (+13.7%)	$37,813 (+26.7%)	2.5%	$51.00	+0.1%	SHS	H2927K103
KOF	COCA-COLA FEMSA SAB DE CV	186,800 (+41.7%)	$17,692 (+61.5%)	1.2%	$86.52	—	SPONS ADS REP	191241108
RGTI	RIGETTI COMPUTING INC	289,700 (+629.7%)	$6,417 (+442.6%)	0.4%	—	—	PUT	76655K103
GLNG	GOLAR LNG LTD	435,000 (+45.0%)	$16,186 (+33.5%)	1.1%	$38.63	-1.4%	SHS	G9456A100
FAF	FIRST AMERN FINL CORP	853,904 (+12.3%)	$52,464 (+7.4%)	3.5%	$49.98	+24.7%	COM	31847R102
SW	SMURFIT WESTROCK PLC	1,185,297 (+2.2%)	$45,835 (-7.2%)	3.0%	$44.03	-13.4%	SHS	G8267P108
TFSL	TFS FINL CORP	2,750,382 (+8.6%)	$36,800 (+10.3%)	2.4%	$12.30	+9.9%	COM	87240R107
NICE	NICE LTD	151,400 (+58.4%)	$17,114 (+23.6%)	1.1%	$146.13	—	SPONSORED ADR	653656108
SSNC	SS&C TECHNOLOGIES HLDGS INC	818,954 (+6.4%)	$71,593 (+4.8%)	4.7%	$69.68	+22.4%	COM	78467J100
JD	JD.COM INC	639,050 (+44.0%)	$18,341 (+18.1%)	1.2%	$34.90	—	SPON ADS CL A	47215P106
LAW	CS DISCO INC	1,081,531 (+6.4%)	$8,393 (+27.8%)	0.6%	$7.18	-1.7%	COM	126327105
WEX	WEX INC	227,968 (+11.0%)	$33,963 (+4.9%)	2.2%	$139.68	+7.9%	COM	96208T104
GPI	GROUP 1 AUTOMOTIVE INC	111,276 (+7.7%)	$43,765 (-3.1%)	2.9%	$190.31	+115.7%	COM	398905109
QS	QUANTUMSCAPE CORP	120,000 (+500.0%)	$1,250 (+407.5%)	0.1%	—	—	PUT	74767V109
DKNG	DRAFTKINGS INC NEW	165,000 (+25.0%)	$5,686 (+15.2%)	0.4%	$42.05	-21.8%	COM CL A	26142V105

Exited Positions (5)

GDRX GOODRX HLDGS INC 0.4%

Value ($000) $6,312 Shares 1,492,274 Est. Cost $6.04 Unrealized -45.7%

GIL GILDAN ACTIVEWEAR INC 0.4%

Value ($000) $6,187 Shares 107,041 Est. Cost $35.00 Unrealized +69.8%

STZ CONSTELLATION BRANDS INC 0.2%

Value ($000) $3,703 Shares 27,500 Est. Cost $167.25 Unrealized -18.2%

NIQ NIQ GLOBAL INTELLIGENCE PLC 0.1%

Value ($000) $1,774 Shares 113,000 Est. Cost $17.40 Unrealized -15.9%

SNBR SLEEP NUMBER CORP 0.0%

Value ($000) $392 Shares 55,798 Est. Cost $12.98 Unrealized -51.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GDRX	GOODRX HLDGS INC	1,492,274	$6,312	0.4%	$6.04	-45.7%	—	38246G108
GIL	GILDAN ACTIVEWEAR INC	107,041	$6,187	0.4%	$35.00	+69.8%	—	375916103
STZ	CONSTELLATION BRANDS INC	27,500	$3,703	0.2%	$167.25	-18.2%	—	21036P108
NIQ	NIQ GLOBAL INTELLIGENCE PLC	113,000	$1,774	0.1%	$17.40	-15.9%	—	G63755105
SNBR	SLEEP NUMBER CORP	55,798	$392	0.0%	$12.98	-51.3%	—	83125X103

Decreased Positions (9)

ELV ELEVANCE HEALTH INC FORMERLY 2.8%

Value ($000) $42,715 (-56.2%) Shares 121,850 (-59.6%) Est. Cost $393.34 Unrealized -14.4%

SIG SIGNET JEWELERS LIMITED 0.7%

Value ($000) $10,136 (-78.3%) Shares 122,300 (-74.9%) Est. Cost $78.64 Unrealized +20.8%

KMPR KEMPER CORP 1.9%

Value ($000) $28,017 (-54.0%) Shares 691,090 (-41.5%) Est. Cost $52.47 Unrealized -18.4%

CMCSA COMCAST CORP NEW 1.2%

Value ($000) $17,956 (-48.5%) Shares 600,748 (-45.9%) Est. Cost $34.22 Unrealized -16.6%

ARW ARROW ELECTRS INC 3.8%

Value ($000) $57,664 (-17.5%) Shares 523,360 (-9.4%) Est. Cost $115.06 Unrealized -1.3%

SDRL SEADRILL LTD 0.2%

Value ($000) $2,944 (-80.5%) Shares 85,100 (-83.0%) Est. Cost $43.75 Unrealized -28.8%

IQV IQVIA HLDGS INC 2.3%

Value ($000) $35,389 (-18.0%) Shares 157,000 (-30.9%) Est. Cost $150.96 Unrealized +44.1%

AEO AMERICAN EAGLE OUTFITTERS IN 0.3%

Value ($000) $4,638 (-58.0%) Shares 175,900 (-72.8%) Est. Cost $13.49 Unrealized +45.7%

GOOGL ALPHABET INC 1.0%

Value ($000) $15,581 (-19.2%) Shares 49,780 (-37.2%) Est. Cost $108.22 Unrealized +163.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ELV	ELEVANCE HEALTH INC FORMERLY	121,850 (-59.6%)	$42,715 (-56.2%)	2.8%	$393.34	-14.4%	COM	036752103
SIG	SIGNET JEWELERS LIMITED	122,300 (-74.9%)	$10,136 (-78.3%)	0.7%	$78.64	+20.8%	SHS	G81276100
KMPR	KEMPER CORP	691,090 (-41.5%)	$28,017 (-54.0%)	1.9%	$52.47	-18.4%	COM	488401100
CMCSA	COMCAST CORP NEW	600,748 (-45.9%)	$17,956 (-48.5%)	1.2%	$34.22	-16.6%	CL A	20030N101
ARW	ARROW ELECTRS INC	523,360 (-9.4%)	$57,664 (-17.5%)	3.8%	$115.06	-1.3%	COM	042735100
SDRL	SEADRILL LTD	85,100 (-83.0%)	$2,944 (-80.5%)	0.2%	$43.75	-28.8%	COM	G7997W102
IQV	IQVIA HLDGS INC	157,000 (-30.9%)	$35,389 (-18.0%)	2.3%	$150.96	+44.1%	COM	46266C105
AEO	AMERICAN EAGLE OUTFITTERS IN	175,900 (-72.8%)	$4,638 (-58.0%)	0.3%	$13.49	+45.7%	COM	02553E106
GOOGL	ALPHABET INC	49,780 (-37.2%)	$15,581 (-19.2%)	1.0%	$108.22	+163.9%	CAP STK CL A	02079K305

Unchanged Positions (18)

C CITIGROUP INC 3.2%

Value ($000) $48,291 Shares 413,839 Est. Cost $51.23 Unrealized +102.3%

IBIT ISHARES BITCOIN TRUST ETF 1.3%

Value ($000) $19,786 Shares 398,510 Est. Cost $44.47 Unrealized —

CRL CHARLES RIV LABS INTL INC 1.9%

Value ($000) $27,975 Shares 140,240 Est. Cost $239.33 Unrealized -24.2%

BZH BEAZER HOMES USA INC 0.9%

Value ($000) $14,209 Shares 701,006 Est. Cost $20.76 Unrealized +7.1%

GBTC GRAYSCALE BITCOIN TRUST ETF 0.6%

Value ($000) $8,442 Shares 123,500 Est. Cost $63.17 Unrealized —

TBLA TABOOLA.COM LTD 0.6%

Value ($000) $8,729 Shares 1,893,541 Est. Cost $3.63 Unrealized +3.7%

MCY MERCURY GENL CORP NEW 1.0%

Value ($000) $14,882 Shares 158,218 Est. Cost $56.19 Unrealized +54.4%

GPN GLOBAL PMTS INC 1.3%

Value ($000) $18,909 Shares 244,300 Est. Cost $119.61 Unrealized -32.9%

ABG ASBURY AUTOMOTIVE GROUP INC 1.6%

Value ($000) $24,911 Shares 107,129 Est. Cost $139.60 Unrealized +69.4%

HIPO HIPPO HLDGS INC 0.4%

Value ($000) $5,715 Shares 190,000 Est. Cost $24.64 Unrealized +35.6%

COF CAPITAL ONE FINL CORP 0.3%

Value ($000) $4,362 Shares 18,000 Est. Cost $79.51 Unrealized +179.4%

TSE TRINSEO PLC 0.0%

Value ($000) $140 Shares 281,279 Est. Cost $3.30 Unrealized -63.8%

BTC GRAYSCALE BITCOIN MINI TR ET 0.1%

Value ($000) $957 Shares 24,700 Est. Cost $41.87 Unrealized —

AL AIR LEASE CORP 2.1%

Value ($000) $31,208 Shares 485,878 Est. Cost $46.63 Unrealized +36.6%

BAND BANDWIDTH INC 0.2%

Value ($000) $2,792 Shares 180,721 Est. Cost $14.17 Unrealized +7.1%

IREN IREN LIMITED 0.0%

Value ($000) $755 Shares 20,000 Est. Cost — Unrealized —

QUBT QUANTUM COMPUTING INC 0.0%

Value ($000) $154 Shares 15,000 Est. Cost — Unrealized —

QBTS D-WAVE QUANTUM INC 0.0%

Value ($000) $523 Shares 20,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
C	CITIGROUP INC	413,839	$48,291	3.2%	$51.23	+102.3%	COM NEW	172967424
IBIT	ISHARES BITCOIN TRUST ETF	398,510	$19,786	1.3%	$44.47	—	SHS BEN INT	46438F101
CRL	CHARLES RIV LABS INTL INC	140,240	$27,975	1.9%	$239.33	-24.2%	COM	159864107
BZH	BEAZER HOMES USA INC	701,006	$14,209	0.9%	$20.76	+7.1%	COM NEW	07556Q881
GBTC	GRAYSCALE BITCOIN TRUST ETF	123,500	$8,442	0.6%	$63.17	—	SHS REP COM UT	389637109
TBLA	TABOOLA.COM LTD	1,893,541	$8,729	0.6%	$3.63	+3.7%	ORD SHS	M8744T106
MCY	MERCURY GENL CORP NEW	158,218	$14,882	1.0%	$56.19	+54.4%	COM	589400100
GPN	GLOBAL PMTS INC	244,300	$18,909	1.3%	$119.61	-32.9%	COM	37940X102
ABG	ASBURY AUTOMOTIVE GROUP INC	107,129	$24,911	1.6%	$139.60	+69.4%	COM	043436104
HIPO	HIPPO HLDGS INC	190,000	$5,715	0.4%	$24.64	+35.6%	COM NEW	433539202
COF	CAPITAL ONE FINL CORP	18,000	$4,362	0.3%	$79.51	+179.4%	COM	14040H105
TSE	TRINSEO PLC	281,279	$140	0.0%	$3.30	-63.8%	SHS	G9059U107
BTC	GRAYSCALE BITCOIN MINI TR ET	24,700	$957	0.1%	$41.87	—	SHS NEW	389930207
AL	AIR LEASE CORP	485,878	$31,208	2.1%	$46.63	+36.6%	CL A	00912X302
BAND	BANDWIDTH INC	180,721	$2,792	0.2%	$14.17	+7.1%	COM CL A	05988J103
IREN	IREN LIMITED	20,000	$755	0.0%	—	—	PUT	Q4982L109
QUBT	QUANTUM COMPUTING INC	15,000	$154	0.0%	—	—	PUT	74766W108
QBTS	D-WAVE QUANTUM INC	20,000	$523	0.0%	—	—	PUT	26740W109