LKQ: Seizert’s Quiet Obsession

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Right. So, Seizert Capital Partners. They’ve been… accumulating. That’s a polite way of putting it, isn’t it? Like a slightly unsettling hobby. Another $15.2 million worth of LKQ shares in the last quarter. Honestly, it’s the kind of behavior that makes you want to check their browser history. But, hey, who am I to judge? I’ve got my own… fixations. Anyway, that brings their total stake to around $65.8 million – 2.78% of their portfolio. Which, let’s be real, is a significant chunk of change to dedicate to… car parts. But then again, maybe they just really, really like fixing things.

They’re not shouting it from the rooftops, this Seizert lot. They’re quietly, persistently buying. Seven straight quarters now. While the stock has been… let’s say, underappreciated. Dropped from $50 to $33. It’s the sort of thing that makes me wonder if they know something we don’t. Or if they’re just exceptionally patient. Or possibly both. I’m leaning towards the latter. It’s never just one thing, is it?

Now, LKQ. Automotive replacement parts. Not exactly the sexiest industry, is it? But hold on. 1.3 times book value, 12 times free cash flow. Those are numbers that make even me sit up and take notice. And they’re buying back shares. 3.6% annually. Smart. They’re returning capital to shareholders, while simultaneously boosting the share price. It’s almost… responsible. Which, frankly, is a little unsettling. And then there’s the dividend. A hefty 3.63%. So, they’re giving you money now, while also promising more money later. It’s the financial equivalent of a really good apology.

Here’s where it gets interesting, though. The existential dread of the autonomous vehicle. It’s the elephant in the garage, isn’t it? If everyone’s driving around in self-driving pods, what happens to the demand for… well, everything LKQ sells? Sales growth has slowed, from 8% to 3%. It’s not a cliff edge, but it’s definitely a slope. They’re growing faster than the market average, but that’s a bit like being the fastest tortoise in the race. Still a tortoise. They’re probably doing some serious scenario planning. I’d be, if I were them. Maybe they’re investing in robot repair shops. That’s a thought.

Look, I’m not saying LKQ is going to be the next Tesla. But at today’s valuation, they don’t need to be. They don’t need some miraculous growth spurt. They just need to keep chugging along, returning capital to shareholders, and hoping that the autonomous vehicle revolution takes a little longer than expected. Which, knowing our luck, it probably will. Especially in Minnesota. Seriously, try driving in a blizzard. Autonomous vehicles will need a ‘snow mode’ the size of Canada.

So, Seizert’s continued purchases? They’re not crazy. They’re just… pragmatic. They see a value opportunity, and they’re taking it. And honestly, in a world where everything feels wildly overpriced and hopelessly speculative, that’s… refreshing. It’s almost enough to make me want to buy some shares myself. Almost.

Here’s a quick peek at where Seizert puts the rest of their money:

  • 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)

A bit more information about LKQ, just for context:

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

Basically, LKQ distributes car parts. They’re a big operation, spanning North America and Europe. They sell to repair shops, dealerships, and even directly to consumers. It’s not glamorous, but it’s… solid. And in this market, solid is a luxury.

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2026-02-03 20:12