Managers / Q2 2020 · view latest →
LFL Advisers, LLC
CIK 0001694127 · 1560 SHERMAN AVENUE, STE 530, EVANSTON, IL, 60201 · 8478688750
Summary
Lfl Advisers, LLC reported $192M in U.S.-listed holdings across 12 positions for Q2 2020.
The portfolio is heavily concentrated: CDW alone accounts for 24.9% of reported value.
Compared with Q1 2020, the fund opened 0 new positions and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 76.8% · $148M
- Other · 13.1% · $25M
- REIT · 10.1% · $19M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BKNGBOOKING HLDGS INC | SOLD OUT | −4.9K | 0 | −$7M | $0 |
| AXE3EURANIXTER INTL INC | SOLD OUT | −4.0K | 0 | −$351,000 | $0 |
| KMXCARMAX INC | TRIMMED | −66.0K | 386.0K | +$10M | $35M |
| BNYBANK NEW YORK MELLON CORP | HELD | −2.2K | 430.7K | +$2M | $17M |
| CDWCDW CORP | HELD | −2.0K | 412.6K | +$9M | $48M |
| BRK/BBERKSHIRE HATHAWAY INC DEL | HELD | −130 | 29.6K | −$151,000 | $5M |
| LAMRLAMAR ADVERTISING CO NEW | HELD | −1.2K | 290.0K | +$4M | $19M |
| PGRPROGRESSIVE CORP OHIO | HELD | +400 | 120.7K | +$787,000 | $10M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | CDWCDW CORPhistory → | COM | 24.92% | $48M | 412.6K |
| 2 | KMXCARMAX INChistory → | COM | 17.97% | $35M | 386.0K |
| 3 | TE CONNECTIVITY LTD | REG SHS | 13.12% | $25M | 309.5K |
| 4 | ALVAUTOLIV INChistory → | COM | 11.52% | $22M | 343.6K |
| 5 | LAMRLAMAR ADVERTISING CO NEWhistory → | CL A | 10.06% | $19M | 290.0K |
| 6 | BNYBANK NEW YORK MELLON CORPhistory → | COM | 8.65% | $17M | 430.7K |
| 7 | PGRPROGRESSIVE CORP OHIOhistory → | COM | 5.03% | $10M | 120.7K |
| 8 | SCHWSCHWAB CHARLES CORP NEWhistory → | COM | 3.22% | $6M | 183.4K |
| 9 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 2.75% | $5M | 29.6K |
| 10 | GOOGALPHABET INChistory → | CAP STK CL C | 1.47% | $3M | 2.0K |
| 11 | NTRSNORTHERN TRUST CORP | COM | 0.90% | $2M | 21.9K |
| 12 | AHQAMERICAN WOODMARK CORPORATION | COM | 0.39% | $745,000 | 9.8K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $332M | 9 | May 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $305M | 8 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $289M | 8 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $250M | 8 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $229M | 8 | May 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $257M | 9 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $279M | 10 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $254M | 11 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $277M | 11 | May 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $230M | 11 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $205M | 11 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $217M | 11 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $223M | 11 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $211M | 11 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $189M | 11 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $193M | 11 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $224M | 11 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $242M | 11 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $218M | 11 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $214M | 11 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $203M | 11 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $209M | 12 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $189M | 11 | Nov 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $192M | 12 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $160M | 14 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $167M | 10 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $170M | 10 | Nov 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $163M | 10 | Aug 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $143M | 9 | May 10, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $127M | 9 | Feb 13, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.