GetCoattail Research — The Filing Tape #188. Louisiana-Pacific through six filing lenses, as of the latest filings. Past patterns are not a promise of future results. For education only — not investment advice.
The Hype
Louisiana-Pacific Corporation (LPX) appears in a Zacks note dated October 22, 2026, titled "Louisiana-Pacific Corporation (LPX) is Attracting Investor Attention" — a most-searched-stock note, not an earnings report or a contract announcement. This package cites no news event for Louisiana-Pacific: the attention claim rests on that listing plus the measured price tape, and nothing else. Zacks puts LPX's past-month return at +6.6%, against no change for its S&P 500 composite over the same period and +2% for the Zacks Building Products – Wood industry.
The price tape behind the attention is a rise, a fall, and a partial recovery. LPX closed 2025 at $80.76, rose 8.1% in Q2 to $78.66 by June 30, 2026, fell to $64.55 by September 30, and closed the price file on October 2 at $65.10 — 17.2% below its June 30 close and 19.4% below its 2025 year-end close. The daily refresh puts the October 23 close at $73.76 — 13.3% above the October 2 close but still 6.2% below June 30 and 26.5% below the $100.34 52-week-high field. The question the filings let us ask: what did the tracked holders, the broad market, the company's insiders, and Congress actually do?
The Tape
| Lens | As of | What the filings show | Direction vs prior period |
|---|---|---|---|
| Superinvestors (13F) | Jun 30, 2026 | 4 of 147 tracked managers hold; 6,022,482 shares ($473.73M reported). Berkshire Hathaway is 94.1%. | Cohort +1.0%; 1 increase, 2 unchanged, 1 decrease; no new holders, no exits |
| All institutions (13F) | Jun 30, 2026 | 422 filers hold 73,383,743 shares ($5.36B reported). | Shares +15.29%; filers +17; reported value +27.55% |
| Insiders (Form 4) | Oct 2, 2026 | 0 buys and 0 sells in 90 days; 2 buys ($1.96M) and 28 sells ($15.35M) in a year. | Quiet 90 days; selling dominates the year |
| Congress | Oct 3, 2026 | No LPX rows in the combined, House, Senate, or members files. | No transactions found in the covered disclosures |
| 13D/G | Aug 14, 2026 | Passive only: Vanguard 8.83% at Dec 31, 2025, then a 0-share amendment; no 13D filing at all. | T. Rowe Price 6.2% → 4.6%; Eminence 5.8% → 3.6% |
| Short interest | Sep 15, 2026 | 8,214,663 shares short, 11.75% of shares outstanding; 7.56 days to cover. | +8.35% from prior settlement; +16.0% vs June; +160.6% year over year; series peak |
Chart: Louisiana-Pacific through six filing lenses — who is actually there?
Superinvestors. The tracked register for Louisiana-Pacific is small and more top-heavy than most in this series. Four of 147 tracked managers hold 6,022,482 shares — $473,728,434 reported — and one of them is 94.1% of it. Warren Buffett's Berkshire Hathaway holds 5,664,793 shares, 0.15% of its portfolio, unchanged in Q2 (0.0%). First Eagle Investment Management holds 291,803 shares (4.8% of the cohort, 0.04% of its portfolio) after increasing 25.8% in Q2, from 231,910 shares, a gain of 59,893 shares. Skye Global Management holds 60,000 shares (1.0%, 0.09%) after decreasing 3.2% in Q2, from 62,000 shares. Francis Chou's Chou Associates holds 5,886 shares (0.1%, 0.21%), unchanged. All four Q1-to-Q2 changes verify exactly under both pairing methods, and both registers reconcile with residual zero: the verified cohort moved from 5,964,589 shares in Q1 to 6,022,482 in Q2, +57,893 shares, +1.0%. The cohort's implied price ($78.66) matches the June 30 close ($78.66) exactly, holder by holder. The cohort is 8.21% of the full market's reported shares and 8.61% of shares outstanding — and Berkshire alone is 8.10% of shares outstanding.
All institutions. The broad market added shares much faster than the tracked cohort, and added names too. Filers rose by 17 to 422, of which 420 are long, while reported shares rose 15.29% (+9,729,977 shares to 73,383,743). Reported value rose 27.55% to $5.36 billion — faster than shares, because reported value includes option rows by definition and the June 30 close ($78.66) sits above the March 31 close ($72.75). Underneath, 400 filers entered and 383 exited, net +17. Excluding the tracked cohort, other institutions hold 67,361,261 shares — so the broad market's Q2 addition (+9.73 million shares) is larger than the entire tracked stake. The tracked holders were nearly motionless in Q2; the broad market added, with more names holding more shares.
Insiders. This lens is quiet in the window that matters most, and one-sided over the year. In the 90 days to October 2, 2026, insiders filed 2 forms with 0 buys and 0 sells — but the window is not filing-empty: one filing records a code-F transaction of 1,064 shares at $78.66 by Anthony Hamill (SVP, COO) on July 1, and one records a code-A grant of 9,083 shares at $0.00 to Aaron Howald (SVP, CFO) on September 1. Neither is an open-market purchase or sale, so the 90-day open-market count is zero on both sides. Over one year: 2 buys, 28 sells — 23,200 shares bought for $1,959,592.00 against 172,449 shares sold for $15,348,942.47, from 2 buyers and 2 sellers. Across the whole corpus: 2 buys, 30 sells — 23,200 shares bought against 174,128 shares sold for $15,504,986.55, from 2 buyers and 4 sellers, across 75 filings.
The year's selling has a single name on it. Twenty-six of the 28 one-year sells are by Chief Executive Officer William Bradley Southern — 170,008 shares, 98.6% of one-year sell shares, $15,157,537.86 — on transaction dates from December 15, 2025 to February 18, 2026, at prices from $85.16 to $93.71. The largest single sale is Southern's 48,088 shares at $91.66 on January 14, 2026. The other 2 one-year sells are by Lizanne M. Bruce (flagged as a non-officer in the parsed records): 1,300 shares at $78.59 on March 10, 2026 and 1,141 shares at $78.21 on June 15, 2026. The two buys are both flagged as non-officer buys: Stephen E. Macadam, 3,200 shares at $78.06 on November 7, 2025, and F Nicholas Grasberger III, 20,000 shares at $85.49 on February 19, 2026. Officer buys are zero in every window; officer sells are 26 in every window, all Southern's. The last open-market insider sale in the corpus is Bruce's June 15, 2026 sale — no open-market insider sale appears after that date through October 2, 2026. One disclosed wrinkle: the site's insider aggregate file has no LPX row at all (as of October 25), so no site 90-day comparison exists; the figures here rest on the parsed-file scan, which matches the Form 4 aggregate bucket exactly.
Congress. This lens is blank, with its coverage stated rather than smoothed over. The combined, House, and Senate aggregates and the members file contain no LPX rows at all — no buys, no sells, no attributed member. The members file covers House periodic transaction reports for 2026 with transactions dated on or after April 1, 2026, and the Senate file is as of October 1, 2026, so the correct statement is that no congressional transaction was found in the covered disclosures — not that no member ever traded the stock. Congress disclosures are member filings, not Form 4 insider transactions, and are never added to insider totals.
13D/G. The control register is passive-only, and its largest position reported itself down to zero. It holds 10 filings — 4 initial Schedule 13G and 6 amendments — and no Schedule 13D filing at all. The largest reported percent is The Vanguard Group at 8.83% (6,155,806 shares, event December 31, 2025, filed January 30, 2026) — followed by a Vanguard amendment reporting 0 shares at 0.0% (event March 13, 2026, filed March 27, 2026). T. Rowe Price Associates, Inc. fell from 6.2% (4,326,985 shares, event March 31, 2026) to 4.6% (3,200,102 shares, event June 30, 2026) in the register's latest filing, dated August 14, 2026. Eminence Capital, LP fell from 5.8% (event December 31, 2025) to 3.6% (event March 31, 2026). Jointly-reported positions are not summed: the register's cross-date total (63,114,024.14) counts each joint position once per reporting entity across different dates, so it is never quoted as an economic figure.
Short interest. The bear position did not just grow over the year — it closed the series at its highest point. FINRA short interest stood at 8,214,663 shares at September 15, 2026, with 7.56 days to cover and 11.75% of the 69,923,410 shares outstanding (a July 31, 2026 count). That is 8.35% above the prior settlement (7,581,774 at August 31), 16.0% above June 30 (7,083,687), and 160.6% above the year-ago figure (3,152,300) — and it is the maximum of all 137 settlements in the series, ahead of 7,585,286 on June 15, 2021. The last five settlements trace a steady climb: 6,985,539 (July 15), 6,638,625 (July 31), 6,963,916 (August 14), 7,581,774 (August 31), 8,214,663 (September 15). The series has no step over 2× and none under 0.5×. One row carries a revision flag (June 15, 2021); no row carries a stock-split flag.
Chart: LPX short interest — 137 FINRA settlements, January 2021 to September 2026.
Fundamentals context. The fundamentals record is complete on the fields quoted here: shares outstanding 69,923,410 as of July 31, 2026, revenue $2,708,000,000, net income $146,000,000 and assets $2,627,000,000, all for FY2025. The recorded market capitalisation is $4,677,176,852.22, on the record's own price_close ($66.89 as of October 6, 2026), not the October 23 close.
The Gap
The attention and the filing tape disagree about what kind of story this is. A most-searched listing puts Louisiana-Pacific in front of readers with a past-month gain of 6.6%, while the price sits 17.2% below June 30 on the file's end. The filings show that the entire tracked superinvestor presence is four holders totalling 8.61% of shares outstanding, that the one holder who matters did not move at all in Q2 while the cohort added just 1.0%, and that the broad market added shares much faster, with 17 more filers. Against that quiet tracked picture, the company's own insiders recorded no open-market trades at all in the 90 days to October 2 — no buys, no sells — after a year in which the chief executive accounted for 98.6% of sell shares, and Congress recorded nothing in the covered disclosures. Meanwhile short interest did not merely rise: it closed at the highest level in the 137-settlement series, 160.6% above a year earlier. The tape does not show a tracked crowd piling in behind the search interest; it shows a nearly motionless tracked stake beside a broad market that added shares, an insider register that went quiet after a chief-executive selling run, and a bear position at its series peak.
What Would Change the Picture
Nothing above is a recommendation. It is a record. What would change it:
- 1. Q3 13F season (filings due by November 16, 2026). Watch whether Berkshire Hathaway moves from its 5,664,793-share position at all, whether First Eagle adds to the 59,893 shares it added in Q2, and whether any tracked manager opens a first Louisiana-Pacific position — the register starts Q3 from four holders, so any entry or exit is measurable against that base.
- 2. A first open-market insider trade after October 2, 2026. Any purchase or sale would end a 90-day window with zero open-market insider transactions; a sale larger than Southern's 48,088-share January 14, 2026 transaction would set a new single-sale mark for the year window.
- 3. A first Schedule 13D. Any activist filing would replace the passive-only register; a Vanguard return above zero, or a T. Rowe Price move from 4.6% in either direction, would also change the largest passive positions.
- 4. A first Congress transaction in the covered disclosures, buy or sell, would break the blank congressional picture.
- 5. Short-interest direction. A fall back toward the June 30 level of 7,083,687 — or a further climb above the September 15 series peak of 8,214,663 — would each tell a different story about the bear position that ended the series at its high.
As-of & Limits
| Lens | As of | Limit or note |
|---|---|---|
| Superinvestors (13F) | Jun 30, 2026 | 13F figures are as of June 30, 2026, the quarter-end. Funds have up to 45 days after quarter-end to file, so this is the most recent complete picture — and it is always a lagging one. Common stock only (CUSIP 546347105); no option rows, no second class in the tracked file. All four Q1→Q2 changes verify exactly under both pairing methods; both registers reconcile with residual zero. No tracked holder is among the 3 early filers at September 30, 2026. |
| All institutions (13F) | Jun 30, 2026 | Reported value includes option rows by definition; implied price ($73.01 in Q2) is not a price check. Value rose faster than shares partly because the June close sits above the March close. |
| Insiders (Form 4) | Oct 2, 2026 | "Zero buys/sells in 90 days" means zero open-market (P/S) transactions in the stated window, across the parsed corpus for issuer CIK 60519 (75 filings, filing-date span February 11, 2025 – September 3, 2026). The 2 filings in the window are a code-F transaction and a code-A grant, not open-market trades. The site insider aggregate has no LPX row, so no site comparison exists for this window. Southern William Bradley is flagged as an officer (Chief Executive Officer); both buyers are flagged as non-officers and are named without officer titles. |
| Congress | Oct 3, 2026 | No-transactions-found finding: no LPX row in the combined, House, Senate, or members files. The members file covers House PTR filings for 2026 with transactions dated on or after April 1, 2026; the Senate file is asof October 1, 2026. Congress sells are member-disclosure transactions, not Form 4 insider transactions, and are never added to insider totals. |
| 13D/G | Aug 14, 2026 | Passive-only register; no 13D filing exists in the parsed set. Jointly-reported positions are not summed. Total shares reported (63,114,024.14) sums reporter rows across dates and counts each joint position once per reporting entity, and is not an economic total. Vanguard's 0-share amendment is reported as filed. |
| Short interest | Sep 15, 2026 | Shares-outstanding count as of July 31, 2026; the 11.75% ratio inherits that basis. The peak claim is a maximum over all 137 settlements. The series has no step over 2× and none under 0.5×. |
| Prices | Oct 23, 2026 (fresh close) | Price file ends Oct 2, 2026; the Oct 23 close ($73.76) and moves derived from it are cross-source (chart_stats) and labelled as such. The 52-week-high field ($100.34) is the chart_stats field, not a recomputed file maximum. |
| Fundamentals | FY2025 | Recorded market capitalisation uses the record's own price_close ($66.89 as of Oct 6, 2026), not the Oct 23 close, and is quoted only as the record's figure. |
| Hype source | Oct 25, 2026 (Zacks note) | Search-interest note only (Zacks, Oct 22, 2026); no news event is cited for Louisiana-Pacific in this article. Price moves are measured from the price file and chart_stats. |
Methodology & disclaimer: 13F holdings are long common shares unless stated; reported values include option rows for the all-institutions lens by definition. Short interest is FINRA twice-monthly settlements. Trading costs and taxes are not reflected in any figure. Past patterns are not a promise of future results. For education only — not investment advice.
This article describes filings and market data for education. It is not investment advice. Data: SEC EDGAR 13F (as of June 30, 2026, filed within 45 days), Form 4 corpus checked through October 2, 2026 (75 filings for issuer CIK 60519), House/Senate disclosures through October 3, 2026, SC 13D/G parsed register through August 14, 2026, FINRA short interest at September 15, 2026 settlement. 13F covers long positions of $100M+ managers only and is always a lagging picture. Trading costs and taxes are not reflected.
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Revision history: v1.0 — October 25, 2026. Initial publication. Signals and lens aggregates: lpx_lens_data.csv. Short-interest series: lpx_short_interest_series.csv.
Past patterns are not a promise of future results. For education only — not investment advice.