LAMAR ADVERTISING CO NEW LAMR
CL A · REIT · CUSIP 512816109 · ISIN US5128161099
Baton Rouge, Louisiana-based outdoor advertising company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($17.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $121.33. Options: 8 managers hold calls ($9.9m notional), 6 hold puts ($3.4m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 441 |
| Q4 2022 | 456 |
| Q1 2023 | 469 |
| Q2 2023 | 469 |
| Q3 2023 | 456 |
| Q4 2023 | 500 |
| Q1 2024 | 517 |
| Q2 2024 | 552 |
| Q3 2024 | 582 |
| Q4 2024 | 599 |
| Q1 2025 | 614 |
| Q2 2025 | 621 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 218 | 233 |
| Q4 2023 | 214 | 241 |
| Q1 2024 | 249 | 226 |
| Q2 2024 | 259 | 242 |
| Q3 2024 | 287 | 265 |
| Q4 2024 | 281 | 244 |
| Q1 2025 | 325 | 246 |
| Q2 2025 | 339 | 256 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $12.2m | $91.9m | 7.53 |
| Q4 2024 | $9.8m | $11.7m | 1.20 |
| Q1 2025 | $7.5m | $2.8m | 0.37 |
| Q2 2025 | $9.9m | $3.4m | 0.35 |
Biggest buyers
| AQR CAPITAL MANAGEMENT LLC | Added | +816.2k |
| GOLDMAN SACHS GROUP INC | Added | +561.4k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +510.0k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +380.1k |
| JANUS HENDERSON GROUP PLC | Added | +366.0k |
| FMR LLC | Added | +297.8k |
| ROYAL BANK OF CANADA | Added | +245.2k |
| MILLENNIUM MANAGEMENT LLC | Added | +176.8k |
| UBS Group AG | Added | +146.5k |
| NORGES BANK | Added | +106.4k |
Biggest sellers
| COHEN & STEERS, INC. | Reduced | -1.2m |
| BlackRock, Inc. | Reduced | -552.9k |
| MORGAN STANLEY | Reduced | -398.5k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | Reduced | -358.2k |
| Select Equity Group, L.P. | Reduced | -202.4k |
| MACKENZIE FINANCIAL CORP | Sold out | -130.6k |
| J. Goldman & Co LP | Sold out | -126.4k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -114.4k |
| TUDOR INVESTMENT CORP ET AL | Sold out | -113.1k |
| Waratah Capital Advisors Ltd. | Reduced | -109.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.2m35.0k shares |
| CITADEL ADVISORS LLC | Added | $3.7m30.3k shares |
| JANE STREET GROUP, LLC | Added | $1.0m8.6k shares |
| Crawford Fund Management, LLC | New | $424.8k3.5k shares |
| WOLVERINE TRADING, LLC | Reduced | $265.9k2.2k shares |
| Royal Fund Management, LLC | Unchanged | $121.4k1.0k shares |
| SIMPLEX TRADING, LLC | Added | $84.0k700 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Bank of New York Mellon Corp | Unchanged | $1.4m11.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.2m10.0k shares |
| CITADEL ADVISORS LLC | Reduced | $461.2k3.8k shares |
| JANE STREET GROUP, LLC | New | $218.4k1.8k shares |
| CREDIT INDUSTRIEL ET COMMERCIAL | New | $97.1k800 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| REILLY FAMILY, LLC 13G · exempt (held before listing) +0.2 pts · filed 2026-02-13 | 11.7% |
| BlackRock, Inc. 13G · institution +1.0 pts · filed 2026-04-28 | 11.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), FMR LLC (3.9%, 2026-02-05)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 1 | $9.2k | 1 | $447.5k | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $594.9k | — |
| Q2 2024 | 0 | — | 1 | $2.0m | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 1 | $28.9k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 12.2m $1.5bn | Reduced -101.1k |
| BlackRock, Inc. 0.02% of their portfolio | 9.8m $1.2bn | Reduced -552.9k |
| FMR LLC 0.03% of their portfolio | 4.5m $547.7m | Added +297.8k |
| JANUS HENDERSON GROUP PLC 0.25% of their portfolio | 4.3m $518.5m | Added +366.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.25% of their portfolio | 3.2m $392.1m | Reduced -96.5k |
| COHEN & STEERS, INC. 0.65% of their portfolio | 2.9m $356.5m | Reduced -1.2m |
| STATE STREET CORP 0.01% of their portfolio | 2.7m $327.9m | Reduced -62.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.3m $284.6m | Added +510.0k |
| Boston Partners 0.32% of their portfolio | 2.3m $283.8m | Reduced -48.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.05% of their portfolio | 2.1m $254.2m | Added +380.1k |
| AQR CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 1.5m $177.2m | Added +816.2k |
| DAVENPORT & Co LLC 0.95% of their portfolio | 1.4m $172.4m | Reduced -7.4k |
| Hamlin Capital Management, LLC 3.76% of their portfolio | 1.3m $162.4m | Added +26.9k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.3m $159.6m | Added +32.4k |
| Daiwa Securities Group Inc. 0.58% of their portfolio | 1.3m $157.7m | Added +5.1k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.3m $156.3m | Reduced -14.7k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.2m $147.6m | Reduced -9.5k |
| Berkshire Hathaway Inc 0.06% of their portfolio | 1.2m $141.9m | Not comparable |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.2m $141.1m | Added +52.8k |
| MORGAN STANLEY 0.01% of their portfolio | 1.1m $137.1m | Reduced -398.5k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 990.4k $120.2m | Reduced -33.4k |
| NORGES BANK 0.01% of their portfolio | 957.8k $116.2m | Added +106.4k |
| Capital World Investors 0.02% of their portfolio | 903.0k $109.6m | Unchanged |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.03% of their portfolio | 867.3k $105.3m | Reduced -50.6k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 835.9k $101.4m | Added +7.1k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 812.8k $98.6m | Reduced -16.8k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 761.3k $92.4m | Added +561.4k |
| HighTower Advisors, LLC 0.11% of their portfolio | 723.5k $87.8m | Added +49.4k |
| Artisan Partners Limited Partnership 0.12% of their portfolio | 677.0k $82.2m | Reduced -6.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 629.9k $76.5m | Added +92.3k |
| 59 North Capital Management, LP 2.56% of their portfolio | 591.5k $71.8m | Unchanged |
| Invesco Ltd. 0.01% of their portfolio | 501.5k $60.9m | Reduced -32.5k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 488.7k $59.3m | Added +31.9k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 483.7k $58.7m | Added +176.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 474.2k $57.5m | Added +19.8k |
| ANCHOR CAPITAL ADVISORS LLC 1.65% of their portfolio | 464.1k $56.3m | Added +63.7k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 436.8k $53.0m | Reduced -1.2k |
| UBS Group AG 0.01% of their portfolio | 429.8k $52.2m | Added +146.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 385.6k $46.8m | Added +245.2k |
| Boston Trust Walden Corp 0.32% of their portfolio | 371.8k $45.1m | Reduced -60.1k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.11% of their portfolio | 367.9k $44.6m | Added +3.9k |
| ZACKS INVESTMENT MANAGEMENT 0.37% of their portfolio | 352.7k $42.8m | Added +3.2k |
| MILLER HOWARD INVESTMENTS INC /NY 1.23% of their portfolio | 319.4k $38.8m | Added +1.3k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio | 315.9k $38.3m | Reduced -84.4k |
| Nuveen, LLC 0.01% of their portfolio | 303.0k $36.8m | Reduced -54.7k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 0.37% of their portfolio | 297.7k $36.1m | Reduced -358.2k |
| LFL Advisers, LLC 14.40% of their portfolio | 296.8k $36.0m | Added +8.4k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 283.1k $34.4m | Added +13.7k |
| OSTERWEIS CAPITAL MANAGEMENT INC 1.53% of their portfolio | 264.3k $32.1m | Added +59.6k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.12% of their portfolio | 253.6k $30.8m | Reduced -217 |
| CI INVESTMENTS INC. 0.11% of their portfolio | 245.1k $29.7m | Reduced -10.8k |
| Legal & General Group Plc 0.01% of their portfolio | 227.0k $27.5m | Added +11.1k |
| Makaira Partners LLC 8.28% of their portfolio | 224.3k $27.2m | Unchanged |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.10% of their portfolio | 213.8k $25.9m | Added +25.3k |
| FEDERATED HERMES, INC. 0.05% of their portfolio | 213.2k $25.9m | Reduced -10.9k |
| Van Cleef Asset Management,Inc 2.78% of their portfolio | 212.6k $25.8m | Added +2.5k |
| CRAWFORD INVESTMENT COUNSEL INC 0.43% of their portfolio | 202.2k $24.5m | Added +4.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 200.3k $24.3m | Reduced -2.4k |
| PRIVATE MANAGEMENT GROUP INC 0.70% of their portfolio | 176.5k $21.4m | Added +2.6k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.24% of their portfolio | 170.6k $20.7m | Added +245 |
| Swiss National Bank 0.01% of their portfolio | 168.2k $20.4m | Reduced -2.1k |
| Markel Group Inc. 0.16% of their portfolio | 158.0k $19.2m | Added +21.0k |
| California Public Employees Retirement System 0.01% of their portfolio | 153.0k $18.6m | Added +951 |
| Asset Management One Co., Ltd. 0.06% of their portfolio | 152.4k $18.5m | Reduced -4.7k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 150.4k $18.3m | Reduced -9.6k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 148.3k $18.0m | Reduced -60.0k |
| EASTERLY INVESTMENT PARTNERS LLC 1.20% of their portfolio | 138.1k $16.8m | Reduced -20.6k |
| WS MANAGEMENT LLLP 2.86% of their portfolio | 134.8k $16.4m | Unchanged |
| Quantinno Capital Management LP 0.07% of their portfolio | 133.0k $16.1m | Added +67.3k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 130.4k $15.8m | Reduced -89.0k |
| NOMURA ASSET MANAGEMENT CO LTD 0.04% of their portfolio | 124.8k $15.1m | Added +4.1k |
| CITIGROUP INC 0.01% of their portfolio | 119.9k $14.6m | Added +37.6k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 117.1k $14.2m | Reduced -91.8k |
| BARCLAYS PLC 0.01% of their portfolio | 110.9k $13.5m | Reduced -17.7k |
| Retirement Systems of Alabama 0.05% of their portfolio | 107.5k $13.0m | Added +488 |
| LPL Financial LLC 0.00% of their portfolio | 106.6k $12.9m | Added +11.8k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 104.8k $12.7m | Added +100 |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 97.1k $11.8m | Added +733 |
| IEQ CAPITAL, LLC 0.07% of their portfolio | 93.4k $11.3m | Added +65.0k |
| Jump Financial, LLC 0.14% of their portfolio | 91.1k $11.1m | New |
| Gilman Hill Asset Management, LLC 1.79% of their portfolio | 90.1k $10.9m | Added +24 |
| Select Equity Group, L.P. 0.05% of their portfolio | 88.1k $10.7m | Reduced -202.4k |
| TRUIST FINANCIAL CORP 0.02% of their portfolio | 87.4k $10.6m | Added +905 |
| MetLife Investment Management, LLC 0.06% of their portfolio | 84.3k $10.2m | Added +4.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 81.9k $9.9m | Reduced -13.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 81.3k $9.9m | Added +26 |
| Mariner, LLC 0.01% of their portfolio | 80.8k $9.8m | Added +15.7k |
| ASSETMARK, INC 0.02% of their portfolio | 77.9k $9.5m | Added +41.4k |
| HEARTLAND ADVISORS INC 0.53% of their portfolio | 77.6k $9.4m | Added +2.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 77.4k $9.4m | Added +670 |
| Leith Wheeler Investment Counsel Ltd. 0.67% of their portfolio | 77.3k $9.4m | Reduced -2.1k |
| ONTARIO TEACHERS PENSION PLAN BOARD 0.19% of their portfolio | 76.7k $9.3m | Added +22.7k |
| MML INVESTORS SERVICES, LLC 0.03% of their portfolio | 73.8k $9.0m | Added +2.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 72.7k $8.8m | Reduced -3.9k |
| ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio | 71.6k $8.7m | Reduced -302 |
| GABELLI FUNDS LLC 0.06% of their portfolio | 71.6k $8.7m | Added +18.7k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 67.8k $8.2m | Added +5.5k |
| NATIXIS ADVISORS, LLC 0.01% of their portfolio | 65.8k $8.0m | Reduced -2.1k |
| Cetera Investment Advisers 0.01% of their portfolio | 65.1k $7.9m | Added +2.1k |
| Empowered Funds, LLC 0.09% of their portfolio | 64.9k $7.9m | Added +26.0k |