# Lakewood Asset Management, LLC

> Lakewood Asset Management, LLC is an SEC-registered investment advisory firm in Naperville, IL, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 25, 2026.

- CRD: 174887
- Filed as: LAKEWOOD ASSET MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Naperville, IL
- Filing period: October 2026
- Form ADV filing dated: August 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/174887
- AdvisorCensus page: https://advisorcensus.com/firm/lakewood-asset-management-llc-naperville-il-174887

## Quick answers

**How is Lakewood Asset Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Lakewood Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**How much does Lakewood Asset Management, LLC charge?**
Its Form ADV Part 2A brochure dated August 25, 2026 states: Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Lakewood Asset Management, LLC located?**
Lakewood Asset Management, LLC's principal office is in Naperville, IL, according to its Form ADV; the September 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Lakewood Asset Management, LLC registered with the SEC or a state?**
Lakewood Asset Management, LLC is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 174887.

**How much does Lakewood Asset Management, LLC manage?**
Lakewood Asset Management, LLC reports $248,655,064 in regulatory assets under management in its Form ADV filing dated August 25, 2026 (92% discretionary).

**How have Lakewood Asset Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Lakewood Asset Management, LLC: Regulatory assets under management: $191,088,424 in the October 2021 data and $248,655,064 in the October 2026 data, up 30%. Total employees: 3 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lakewood Asset Management, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (85); high net worth individuals (70); charitable organizations (1).

**Which custodians does Lakewood Asset Management, LLC use?**
Lakewood Asset Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Lakewood Asset Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/174887

**What changed in Lakewood Asset Management, LLC's recent Form ADV filings?**
In the June 2026 filing data: Changed its office addresses in Chicago, IL.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated August 25, 2026)

- Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states)

> Our maximum investment advisory fee is 1.50% or we may negotiate a lower advisory fee. Specific advisory fees are set forth in your Investment Management Agreement.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $248,655,064
- Discretionary: $228,691,283
- Non-discretionary: $19,963,781

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 85 | $23,017,407 |
| High net worth individuals | 70 | $224,485,543 |
| Charitable organizations | 1 | $1,152,114 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2018 (8 years)
- Employees: 5 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL, LA, NE, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Chicago, IL
- Omaha, NE

### Websites listed on Form ADV (Item 1.I)
- [lakewoodasset.com](https://lakewoodasset.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $191,088,424 | 3 | June 23, 2021 |
| October 2022 | $189,873,466 | 3 | March 24, 2022 |
| October 2023 | $188,803,764 | 3 | March 30, 2023 |
| October 2024 | $208,427,448 | 4 | June 24, 2024 |
| October 2025 | $220,212,292 | 4 | July 28, 2025 |
| October 2026 | $248,655,064 | 5 | August 25, 2026 |

Regulatory assets under management: $191,088,424 in the October 2021 data and $248,655,064 in the October 2026 data, up 30%.
Total employees: 3 in October 2021 and 5 in October 2026.

## Changes in the filing (last 12 months)

### June 2026
- Changed its office addresses in Chicago, IL.

### April 2026
- Regulatory assets under management went from $220,212,292 to $248,655,064 (+13%).
- Added an office in Chicago, IL.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lakewood Asset Management, LLC (CRD 174887): Form ADV filing data as of October 2026.