What happened
According to a SEC filing dated Feb. 2, 2026, Seizert Capital Partners, LLC increased its position in LKQ (LKQ 1.73%) by 503,998 shares during the fourth quarter. The estimated transaction value was $15.20 million based on quarterly average pricing. The value of the LKQ stake at quarter-end rose by $14.65 million to $65.80 million, a change reflecting both additional shares and price fluctuations.
What else to know
After the purchase, LKQ now 2.78% of Seizert Capital Partners’ 13F reportable AUM.
- Top holdings after the filing:
- Goldman Sachs: $86.08 million (3.6% of AUM)
- Wells Fargo: $77.81 million (3.3% of AUM)
- Qualcomm: $76.33 million (3.2% of AUM)
- JPMorgan Chase: $75.37 million (3.2% of AUM)
- Alphabet: $74.50 million (3.1% of AUM)
As of Feb. 2, 2026, LKQ shares were trading at $32.52, down 11.1% over the past year and underperforming the S&P 500 by 25 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $13.96 billion |
| Net income (TTM) | $697.00 million |
| Dividend yield | 3.63% |
| Price (as of market close Feb. 2, 2026) | $32.52 |
Company snapshot
LKQ:
- Distributes replacement parts, components, and systems for vehicle repair and maintenance, including body panels, glass, salvage parts, and specialty products
- Operates a multi-segment model across North America and Europe, generating revenue through wholesale distribution to repair shops, dealerships, and retail customers
- Serves collision and mechanical repair shops, new and used car dealerships, and retail consumers in the United States, Canada, and multiple European countries
LKQ supplies automotive replacement parts to repair shops, dealerships, and retail customers across North America and Europe. The company leverages a diversified product portfolio and multi-channel distribution network to serve both commercial and retail markets. Its strategic focus on aftermarket and recycled parts positions it to address the ongoing demand for cost-effective vehicle repair solutions.
What this transaction means for investors
Seizert Capital Partners has been accumulating LKQ shares for seven straight quarters, as the stock steadily declined from $50 per share to $33 over that period. There is a lot to like about LKQ, and I certainly understand the investment thesis for considering it to be a value opportunity today, at just 1.3 times book value and 12 times free cash flow. This is a pretty reasonable price to pay for the dominant player in the automotive replacement parts industry.
This is especially true when management has been buying shares back hand over fist at this discounted price. Over the last five years, LKQ has lowered its share count by 3.6% annually. In addition to these buybacks, the company pays a growing dividend that now yields a hefty 3.63%. So, in a way, LKQ has matured from a growth stock to a steady Eddie focused on capital returns.
That said, LKQ faces an existential question for its business: what will its business look like in a world of autonomous vehicles? The company has already seen sales growth slow from 8% annually over the last decade to 3% in 2025. While it is growing faster than the market average, the industry as a whole is slowing and could be downsized dramatically if AVs become the norm in big cities across the U.S. and Europe. I think LKQ will still have a role to play for many years to come (AVs aren’t likely to master wintertime driving in Minnesota or Canada anytime soon, for example), but how big the company’s market opportunity will be remains to be seen.
At today’s valuation, though, LKQ doesn’t need boatloads of growth to live up to its valuation, so Seizert’s continued purchases of the stock could pay off if the company carves out a niche for itself in a rapidly changing automotive landscape.
