Harris Associates discloses 1.96M-share stake in Lithia Motors (LAD)

Rhea-AI Filing Summary

Harris Associates L.P. reports beneficial ownership of 1,956,637 shares of Lithia Motors, Inc. common stock, representing 8.4% of the class as of 03/31/2026. The filing discloses sole voting power of 1,956,507 shares and sole dispositive power of 1,956,637 shares.

Insights

Institutional Ownership Analyst

Passive 13G/A shows a material stake by an investment manager.

Harris Associates reports beneficial ownership of 1,956,637 shares, equal to 8.4% of Lithia Motors common stock as of 03/31/2026. The disclosure lists sole voting and dispositive powers in nearly identical amounts.

Filing type Schedule 13G/A indicates an investment-management position rather than activist intent; subsequent filings would show any change in intent or voting plans.

Key Figures

Shares beneficially owned: 1,956,637 shares Percent of class: 8.4% Sole voting power: 1,956,507 shares

3 metrics

Shares beneficially owned 1,956,637 shares Beneficial ownership as of 03/31/2026

Percent of class 8.4% Percent of common stock as of 03/31/2026

Sole voting power 1,956,507 shares Sole voting power reported on cover page

Key Terms

beneficially owned, sole dispositive power, Schedule 13G/A

3 terms

beneficially owned regulatory

"By reason of advisory and other relationships with the person who owns the Shares, Harris may be deemed to be the beneficial owner"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole Dispositive Power 1,956,637.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"(Amendment No. 1 ) Lithia Motors, Inc. ... SCHEDULE 13G/A"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 04:13 PM Learn about SEC filing dates

FAQ

What does the Harris Associates 13G/A filing say about LAD ownership?

Answer: The filing shows Harris Associates beneficially owns 1,956,637 shares of Lithia Motors, equal to 8.4% of the class as of 03/31/2026. It discloses sole voting and dispositive power figures for those shares.

Does the Schedule 13G/A indicate an activist intent by Harris Associates for LAD?

Answer: The Schedule 13G/A classification typically reflects passive investment intent. This amendment lists ownership and voting/dispositive powers but does not state activist plans; any change in intent would require a different filing type or further disclosure.

Which accounts or funds are referenced in the Harris filing for LAD holdings?

Answer: The filing identifies Oakmark Select Fund as an account on whose behalf Harris may exercise voting or dispositive power. The disclosed share counts and percent ownership are tied to advisory relationships described in the filing.

What reporting dates and signatures appear on the LAD 13G/A amendment?

Answer: The beneficial ownership figures are stated as of 03/31/2026, and the amendment is signed by Joseph J. Allessie, General Counsel and Secretary, with signature dates shown as 05/15/2026.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Lithia Motors, Inc.

(Name of Issuer)

Common stock without par value

(Title of Class of Securities)

536797103

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 536797103

1

Names of Reporting Persons

HARRIS ASSOCIATES L P

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,956,507.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,956,637.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,956,637.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 536797103

1

Names of Reporting Persons

Harris Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,956,507.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,956,637.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,956,637.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lithia Motors, Inc.
(b)	Address of issuer's principal executive offices: 150 N. Bartlett Street, Medford, OR, 97501.
Item 2.
(a)	Name of person filing: Harris Associates L.P. ("Harris") Harris Associates, Inc. ("General Partner") **Harris Associates, Inc., for itself and as General Partner
(b)	Address or principal business office or, if none, residence: 111 South Wacker Drive Suite 4600, Chicago, IL 60606
(c)	Citizenship: See Item 4 on the cover page(s) hereto.
(d)	Title of class of securities: Common stock without par value
(e)	CUSIP No.: 536797103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: By reason of advisory and other relationships with the person who owns the Shares, Harris may be deemed to be the beneficial owner of the shares specified in Item 9 on the cover page(s) hereto. Harris has been granted the power to vote Shares in circumstances it determines to be appropriate in connection with assisting its advised clients to whom it renders financial advice in the ordinary course of business, by either providing information or advice to the persons having such power, or by exercising the power to vote.
(b)	Percent of class: See Item 11 on the cover page(s) hereto.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. OAKMARK SELECT FUND
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

HARRIS ASSOCIATES L P

Signature:	Joseph J. Allessie
Name/Title:	Joseph J. Allessie, General Counsel and Secretary
Date:	05/15/2026

Harris Associates, Inc.

Signature:	Joseph J. Allessie
Name/Title:	Joseph J. Allessie, General Counsel and Secretary
Date:	05/15/2026