Thompson, Siegel, & Walmsley Adds Another $31 Million to its 2nd-Largest Holding, LKQ

On Nov. 12, 2025, Thompson, Siegel, & Walmsley LLC disclosed a significant purchase of LKQ, increasing its position by 1,470,033 shares, adding approximately $31.47 million.

What happened

According to a Securities and Exchange Commission (SEC) filing dated Nov. 12, 2025, Thompson, Siegel, & Walmsley (TSW) increased its stake in LKQ Corporation (NASDAQ:LKQ) by 1,470,033 shares during the third quarter.

The move lifted the fund’s total holding to 3,544,970 shares, valued at $108.26 million as of Sept. 30, 2025.

What else to know

The purchase makes LKQ 1.75% of the fund’s 13F reportable AUM

TSW's top holdings after the filing:

• AerCap (NYSE:AER): $156.71 million (2.54% of AUM)
• LKQ: $108.26 million (1.76% of AUM)
• Huntington Ingalls Industries (NYSE:HII): $105.43 million (1.71% of AUM)
• Smurfit Westrock Plc (NYSE:SW): $104.29 million (1.69% of AUM)
• Dominion Energy (NYSE:D): $104.16 million (1.69% of AUM)

As of Dec. 8, 2025, shares were priced at $28.65, down 26% over the past year, trailing the S&P 500 by 39 percentage points.

Company Overview

Metric	Value
Price (as of market close 12/8/25)	$28.65
Market capitalization	$7.33 billion
Revenue (TTM)	$13.96 billion
Net income (TTM)	$697.00 million

Company Snapshot

LKQ:

• Distributes automotive replacement parts, components, and systems, including body panels, glass, mechanical and collision parts, and specialty products for vehicles and recreational vehicles.
• Operates a distribution-focused business model, generating revenue through the sale of new and recycled automotive parts to repair shops, dealerships, and retail customers across North America and Europe.
• Serves collision and mechanical repair shops, new and used car dealerships, and retail consumers in the United States, Canada, and multiple European markets.

LKQ is a leading distributor of automotive replacement parts and related products, with a diversified presence across North America and Europe.

The company leverages a broad product portfolio and an extensive distribution network to support the repair and maintenance needs of the automotive aftermarket.

Its scale and multi-segment operations provide a competitive advantage in sourcing, logistics, and customer reach.

Foolish take

Thompson, Siegel, & Walmsley's $31 purchase of LKQ should raise some eyebrows. TSW has held LKQ shares since 2018, and the stock was already a top-ten position for the firm.

However, following its massive purchase in the latest quarter, LKQ is now TSW's second-largest holding among the firm's well-diversified portfolio.

TSW has now added shares of LKQ six times over the last two years while more than doubling the number of shares it owned in the company. Since LKQ's shares have been halved since late 2021, it is fair to say TSW views the stock as something between a value stock opportunity and a buy-the-dip investment.

Despite its 50% drop in value, I'd argue that LKQ remains as sound operationally today as it was five years ago and still appears to be the leader in its auto replacement parts distributor niche.

Now with an EV/EBITDA of just 7.8 -- its lowest mark ever, outside of the 2020 and 2008 crashes -- LKQ is being priced for near death in a world of burgeoning electric and autonomous vehicle hopes.

That said, I believe these fears may be overstated, and TSW seems to agree, as it doubles down on the market share-leading stock.

With the company's 4.2% dividend yield at an all-time high as well, now is as good a time as any to consider the stock. However, this isn't likely to be a growth stock or a multibagger anytime soon, so investors will want to temper their expectations and continuously monitor the company's performance due to the ongoing transformation in its industry.

Glossary

13F reportable assets under management (AUM): The total value of securities a fund manager must report quarterly to the SEC.
Net position change: The difference in the number or value of shares held before and after a transaction.
Stake: The total ownership or investment a fund or investor holds in a company.
Holding: A specific security or asset owned within a fund or investment portfolio.
Buy activity: The act of purchasing additional shares or increasing an investment in a security.
Trailing the S&P 500: Underperforming the S&P 500 index over a specified period.
Distribution-focused business model: A strategy centered on selling and delivering products to customers, often through a wide network.
Aftermarket: The market for replacement parts, accessories, and services for vehicles after their initial sale.
Multi-segment operations: Business activities divided into multiple distinct areas or product lines.
Competitive advantage: A unique strength that allows a company to outperform its rivals.
Logistics: The management of transporting and storing goods efficiently.
TTM: The 12 months ending with the most recent quarterly report.

Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool recommends AerCap, Dominion Energy, and LKQ and recommends the following options: long January 2027 $60 calls on AerCap. The Motley Fool has a disclosure policy.