Access Investment Dumps $2.8 Million of LKQ (Nasdaq: LKQ) Shares

Access Investment Management LLC reduced its stake in LKQ by 84,105 shares, an estimated $2.76 million trade based on the average price for Q3 2025, according to SEC data dated November 4, 2025.

What happened

According to a filing with the Securities and Exchange Commission dated November 04, 2025, Access Investment Management LLC sold 84,105 shares of LKQ (NASDAQ:LKQ) during the quarter. The estimated value of the trade was $2.76 million based on the average unadjusted closing price for the quarter. Following the sale, the fund held 163,925 shares, worth $5.01 million.

What else to know

The fund reduced its position in LKQ; the holding now represents just 1.35% of its 13F reportable assets under management (AUM). LKQ had previously represented 2.61% of AUM.

Access Investment's top five holdings after the filing were:

NYSE:URI: $30.47 million (8.19% of AUM) as of 2025-09-30

NYSE:JBL: $26.69 million (7.2% of AUM) as of 2025-09-30

NYSE:APO: $19.03 million (5.1% of AUM) as of 2025-09-30

NYSE:SF: $16.17 million (4.3% of AUM) as of 2025-09-30

NYSE:JPM: $14.32 million (3.8% of AUM) as of 2025-09-30

As of November 3, 2025, shares were priced at $30.43, down 19% over the past year and underperforming the S&P 500 by 34.7 percentage points

Company Overview

Company Snapshot

LKQ is short for "Like Kind and Quality," a parts industry term for non-original equipment manufacturer (non-OEM) replacement parts. The company is a global distributor of automotive replacement parts, components, and systems, including body panels, mechanical parts, and automotive glass.

LKQ operates a multi-segment model across North America and Europe, generating revenue through the sale of new and recycled parts primarily for vehicle repair and maintenance. The company serves collision and mechanical repair shops, new and used car dealerships, and retail customers across the United States, Europe, and select international markets.

LKQ's broad product offerings and international footprint support its competitive position in the automotive aftermarket sector.

Image source: Getty Images.

Foolish take

Access Investment is a fairly active fund that makes plenty of portfolio adjustments each quarter. In the latest quarter, for example, it made alterations to about 45% of its positions (84 of 185). These ranged from very minor (it bought 31 shares of its top holding United Rentals, increasing its 31,883-share holding by 0.1%) to major (selling its entire 73,615-share stake in fat recycling company Darling Ingredients). So, Access selling about one-third of its LKQ shares was a big move but not as earth-shattering as it might be from a less-active fund.

The fund seems to be bearish on the automotive parts industry as a whole. In addition to its LKQ sale in Q3, the fund also unloaded its entire 14,105-share stake in Allison Transmission Holdings, which manufactures and sells fully-automatic vehicle transmissions and branded replacement parts. It also halved its small position in Motorcar Parts of America, another automotive parts manufacturer.

There are good reasons for Access' apparent lack of confidence in the automotive parts industry, and in LKQ in particular. In LKQ's second quarter earnings report, organic parts and services revenue declined by a larger-than-expected 3.4%. Management attributed this to a 9% reduction in the number of North American repairable insurance claims during the quarter, meaning that LKQ likely was increasing market share in a shrinking market.

Given LKQ's recent downward revisions to its annual guidance and an ongoing turnaround in its European operations, it's not a company that seems destined for outperformance anytime soon.

Glossary

13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if they exceed $100 million.
AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm on behalf of clients.
Dividend Yield: Annual dividends paid by a company divided by its share price, shown as a percentage.
Filing: An official document submitted to a regulatory authority, such as the SEC, to disclose financial or ownership information.
Multi-segment model: A business structure operating across different divisions or regions, each contributing to overall revenue.
Aftermarket sector: The industry providing replacement parts, accessories, and services for vehicles after their initial sale.
Collision and mechanical repair shops: Businesses specializing in fixing vehicle damage from accidents or mechanical failures.
Unadjusted closing price: The final price of a stock at market close, not accounting for dividends or splits.
Portfolio holding: A specific investment or asset owned within a fund or investor’s broader portfolio.
Top five holdings: The five largest investments in a fund, ranked by their value or percentage of total assets.
Q3: The third quarter of a company’s fiscal or calendar year, typically covering July through September.
TTM: The 12-month period ending with the most recent quarterly report.

JPMorgan Chase is an advertising partner of Motley Fool Money. John Bromels has positions in Darling Ingredients. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends Allison Transmission, Darling Ingredients, and LKQ and recommends the following options: short January 2026 $35 calls on Darling Ingredients. The Motley Fool has a disclosure policy.