Artisan Partners Value Income Fund: Cruisin’ Through Q1 with Lamar Advertising

Alright, folks, gather ’round! Artisan Partners just dropped their Q1 investor letter for their Value Income Fund, and let me tell ya, it’s juicy! We’re gonna break down the highlights, especially their take on Lamar Advertising (that’s LAMR for you ticker tape fiends). Buckle up, because we’re diving into the world of billboards, stock tickers, and maybe even some AI for good measure.

US Markets Soar, Artisan Fund Not Too Shabby Either

First things first, the US economy was on fire in Q1 ! Think roaring twenties but with less flapper dresses and more, well, iPhones. The S&P hit all-time highs (cha-ching!), boasting a hefty return. Artisan’s Value Income Fund wasn’t slouching either. Their different classes (APFWX, APDWX, APHWX – gotta love those catchy names) pulled in decent returns, fueled by good ol’ income and capital appreciation. Basically, they made some moolah, and that’s what we like to hear.

Lamar Advertising: Billboards, Baby, Billboards!

Now, let’s talk Lamar, the kings and queens of “look at that giant sign!” You know those billboards you see on road trips and think, “Man, someone’s gotta be paying a fortune for that”? Yep, that’s Lamar. They’re all about outdoor advertising, from those classic billboards to flashy digital ones and even ads plastered on buses (because who needs a moment of peace on their commute, right?)

Lamar’s Report Card: Pretty Darn Good

As of June , LAMR stock was chillin’ at a respectable price, with a market cap that’d make even a Wall Street bigwig do a double take. While the one-month return was a little “meh,” their year-long performance was lookin’ pretty sweet.

Artisan’s Take: We Dig LAMR

Artisan was singing LAMR’s praises in their letter. They basically said LAMR was one of the big dogs that helped their fund rake it in during Q1. Why all the love? Well, Lamar’s got that “slow and steady wins the race” thing going on— consistent results, strong local sales (think mom-and-pop shops advertising their killer tacos), and margins that are only getting juicier. Plus, management’s all about that “deleveraging” jargon, which basically means they’re trying to pay down debt. And who doesn’t love a company that’s responsible with their cash flow? They’re also all about sharing the wealth with shareholders (hello, dividends!).