Lamar Advertising Company

LAMRRank #185 of 316

Reference Jun 30, 2026 close implied by Form 13F filings

Circulating market cap

$13.59B

Upper bound: lock-ups and restricted stock not reviewed yet.

Traditional market cap: $15.84B
Fully diluted value: $15.86B
Free float market cap: -
Gap to traditional: $2.25B (14.2%)

Circulating supply87.13M / 101.55M

Free float
Locked team
Other restricted

Circulating: 87.13M · 85.8%
Free float: -
Locked team: n/r
Other restricted: 14.42M · 14.2%
Total outstanding: 101,549,684

Lock-ups and restricted stock for this company have not been reviewed yet. Only unlisted share classes are excluded, so circulating supply is an upper bound.

Supply breakdown

Shares as of Jul 31, 2026

Circulating85.8%87.13M shares

Category	Shares	%	Value	Status
Circulating	87.13M	85.8%	$13.59B	Estimated
Free float	-	-	-	Unavailable
Insider-held, unrestricted	-	-	-	Unavailable
Locked team funds	-	-	-	Unavailable
Other restricted (unlisted classes only)	14.42M	14.2%	$2.25B	Verified
Total outstanding	101.55M	100.0%	$15.84B	Verified
Ownership views (overlap the categories above, never added)
Institutional holdings (13F)	85.71M	84.4%	$13.37B	Estimated
Insider-held, all (Forms 3, 4, 5)	-	-	-	Unavailable

Institutional and insider holdings can include both tradable and locked shares, so they are shown for reference and never added to the total. Check: no class has more shares deducted than it has outstanding, and the review found no shares that may be counted twice: reconciles.

Valuation

Traditional$15.84B
Fully diluted$15.86B
Circulating$13.59B
Free float-
Locked team value$0
Other restricted value$2.25B

Locked and restricted shares

1 item

Class B (not listed on any exchange)

14,420,085 shares

14.2% of total · $2.25B

Class B shares are not listed on any exchange and cannot be traded as they are. A holder must first convert them into Class A shares, which can then be sold. FloatCap counts them outside circulating supply until converted.

Verified10-Q, Cover page: shares outstanding by class; the class has no trading symbolApplied automatically to every unlisted class.

Institutional holders

13F, quarter ended Jun 30, 2026

Holder	Shares	% of total
BlackRock, Inc.	9.61M	9.47%
VANGUARD PORTFOLIO MANAGEMENT LLC	7.51M	7.39%
VANGUARD CAPITAL MANAGEMENT LLC	3.93M	3.87%
FMR LLC	3.17M	3.12%
GEODE CAPITAL MANAGEMENT, LLC	2.81M	2.76%
STATE STREET CORP	2.73M	2.69%
Jupiter Topco LLC	2.72M	2.68%
VICTORY CAPITAL MANAGEMENT INC	2.34M	2.31%
Boston Partners	2.32M	2.28%
WELLINGTON MANAGEMENT GROUP LLP	2.13M	2.09%

Sum of long share positions in Form 13F reports for the quarter. 13F covers managers with over $100M in US equities; some positions are reported by more than one filer.

Insiders

Forms 3, 4 and 5

Form 4 aggregation pending

Share classes

Class	Listing	Shares outstanding	As of
Class A	LAMR on Nasdaq	87,129,599	Jul 31, 2026
Class B	Not listed (valued at LAMR)	14,420,085	Jul 31, 2026

Notes and sources

LAMAR ADVERTISING CO/NEW 10-Q for period ended 2026-06-30, Cover page (0001090425-26-000024)
LAMAR ADVERTISING CO/NEW 10-Q for period ended 2026-06-30, Cover page: shares outstanding by class; the class has no trading symbol (0001090425-26-000024)
SEC public float (non-affiliates): $10.18B as of Jun 30, 2025, from the 10-K cover. It is a dollar value at a past date, not circulating supply.