LKQ Corporation ( LKQ ) is currently pivoting from an aggressive M&A-led growth strategy to a mature, cash-generative model. While the stock currently trades at a historical discount due to cyclical headwinds and recent acquisition challenges, the long-term thesis remains robust. Under encouragement from activistI manage a handful of portfolios, all of which have outperformed the S&P 500 index since inception in 2020. I like to evaluate companies as a business - not a stock ticker - and invest when I judge ...

Core Viewpoint - LKQ Corporation is transitioning from an aggressive M&A-led growth strategy to a mature, cash-generative model, despite facing cyclical headwinds and recent acquisition challenges, the long-term investment thesis remains strong [1] Group 1: Company Strategy - The company is pivoting its growth strategy to focus on generating cash rather than pursuing aggressive mergers and acquisitions [1] - LKQ's stock is currently trading at a historical discount, influenced by cyclical challenges and difficulties in recent acquisitions [1] Group 2: Investment Perspective - The long-term investment thesis for LKQ Corporation is considered robust, indicating potential for future growth despite current market conditions [1] - The author emphasizes evaluating companies as businesses rather than mere stock tickers, suggesting a fundamental approach to investment [1]