# EDGAR Filing Document

**Accession Number:** 0001979130
**File Stem:** 0001104659-26-076458
**Filing Date:** 2026-6
**Character Count:** 19255
**Document Hash:** 1102fad675d04a53b49f4af71d28e458
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-076458.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001104659-26-076458

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20260622

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20260622

**DATE AS OF CHANGE**: 20260622

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AOA Management Co Limited Partnership
- **CENTRAL INDEX KEY:** 0001979130

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-06588
- **FILM NUMBER:** 261107971

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 CAPITAL CITY BOULEVARD
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48906
- **BUSINESS PHONE:** (770) 333-0399

**MAIL ADDRESS:**
- **STREET 1:** 3801 CAPITAL CITY BOULEVARD
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48906
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AOA Management Co Limited Partnership
- **CENTRAL INDEX KEY:** 0001979130

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 CAPITAL CITY BOULEVARD
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48906
- **BUSINESS PHONE:** (770) 333-0399

**MAIL ADDRESS:**
- **STREET 1:** 3801 CAPITAL CITY BOULEVARD
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48906
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AOA Management Co Limited Partnership
- **CENTRAL INDEX KEY:** 0001979130

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-06588

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 CAPITAL CITY BOULEVARD
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48906
- **BUSINESS PHONE:** (770) 333-0399

**MAIL ADDRESS:**
- **STREET 1:** 3801 CAPITAL CITY BOULEVARD
- **CITY:** LANSING
- **STATE:** MI
- **ZIP:** 48906

---

| | |
|:---|:---|
|  | OMB APPROVAL |
| **UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549** | OMB Number: 3235-0675<br> Expires: January 31, 2028<br> Estimated average burden <br> hours per response...... 16.72 |

---

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER REPORT PURSUANT TO**

**SECTION 15G OF THE SECURITIES EXCHANGE ACT OF 1934**

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

◻ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period

___________________ to ___________________

Date of Report (Date of earliest event reported) ____________________________

Commission File Number of securitizer: ____________________________

Central Index Key Number of securitizer: ____________________________

Name and telephone number, including area code, of the person to contact in connection with this filing.

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ◻

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ◻

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ◻

⌧ Rule 15Ga-2
 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: <u>0001979130</u> 

Adams Outdoor Advertising Limited Partnership

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): <u>0001011976</u> 

Central Index Key Number of underwriter (if applicable): <u>N/A</u> 

Richard Joseph Zecchino – Chief Legal Officer, 517-575-8607

Name and telephone number, including area code, of the person to contact in connection with this filing.

SEC 2860 (6-15) Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

**PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer**

Attached as Exhibit 99.1 hereto is the Independent Accountants' Report on Applying Agreed-Upon Procedures, dated June 22, 2026, obtained by the securitizer, with respect to certain agreed-upon procedures performed by a third-party due diligence provider.

2 of 3

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Date: | June 22, 2026 |  |  |
|  |  | **AOA Management Company Limited Partnership (securitizer)** | **AOA Management Company Limited Partnership (securitizer)** |
|  |  | By: Top Tier II GP, LLC, its general partner | By: Top Tier II GP, LLC, its general partner |
|  |  | By: | /s/ Richard Joseph Zecchino |
|  |  | Name: | Richard Joseph Zecchino |
|  |  | Title: | Chief Legal Officer |

---

3 of 3

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Description** |
| [Exhibit 99.1](tm2616045d2_ex99-1.htm) | [Independent Accountants' Report on Applying Agreed-Upon Procedures, dated June 22, 2026.](tm2616045d2_ex99-1.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](tm2616045d2_ex99-1img001.jpg) | 1166 Avenue of the Americas |
| ![](tm2616045d2_ex99-1img001.jpg) | 15th Floor |
| ![](tm2616045d2_ex99-1img001.jpg) | New York, NY 10036 |
| ![](tm2616045d2_ex99-1img001.jpg) | Tel: +1 212 247 1010 |
| ![](tm2616045d2_ex99-1img001.jpg) | www.fticonsulting.com |
| ![](tm2616045d2_ex99-1img001.jpg) |  |
| ![](tm2616045d2_ex99-1img001.jpg) |  |
| ![](tm2616045d2_ex99-1img001.jpg) |  |
| ![](tm2616045d2_ex99-1img001.jpg) |  |

---

June 22, 2026

Louise Lopez

Chief Financial Officer

Adams Outdoor Advertising LP

3801 Capital City Blvd.

Lansing, MI 48906

and

Barclays Capital Inc. (the "Company's Agent")

as representative of the Initial Purchasers

745 Seventh Avenue

New York, NY 10019

**<u>Independent Advisor's Report on Applying Agreed-Upon Procedures</u>**

We have performed the procedures enumerated below, which were agreed to by the addressees (the "Specified Users"), with respect to a portfolio of billboard assets in conjunction with the proposed offering of Adams Outdoor Advertising Limited Partnership Secured Billboard Revenue Notes, Series 2026-1 (the "Transaction"). Adams Outdoor Advertising LP (together with any subsidiaries or affiliates, "Adams" or the "Company") is responsible for the completeness and accuracy of the information provided to us upon which we relied in forming our findings. The sufficiency of these procedures is solely the responsibility of the Specified Users. Consequently, we make no representations regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

The term "recalculated" means calculated and found to be in agreement with, unless otherwise noted.

**I. Comparisons and Recomputations of Certain Billboard Asset Attributes**

&nbsp;&nbsp;&nbsp;&nbsp;1. On May 27, 2026, the Company's Agent on the Company's behalf provided a computer-generated
data file of billboard assets that were operational as of April 30, 2026 (the "Cut-Off Date"), and which contained certain
attributes, as delineated in Exhibit I (the "Data Tape"). On June 21, 2026, we were provided by the Company's
Agent on the Company's behalf an updated Data Tape (the "Final Data Tape") that reflected certain modifications made
to the Data Tape with respect to 10,922 billboard assets.

&nbsp;&nbsp;&nbsp;&nbsp;2. The Company's Agent non-statistically selected 100 billboard assets (the "Sample Selections")
from the Data Tape that were operational as of the Cut-Off Date.

&nbsp;&nbsp;&nbsp;&nbsp;3. For each of the Sample Selections, we compared the attributes listed in Exhibit I as per the Data
Tape and the Final Data Tape to corresponding documents as identified in Exhibit I, all of which were provided by the Company. The
results of our analysis have been summarized in Exhibit II.

\*\*\*\*\*\*

June 22, 2026

We make no representations as to (i) the accuracy of the information set forth in the Data Tape or the Final Data Tape, (ii) the actual characteristics or existence of the underlying documents or data comprising the billboard assets underlying the Data Tape or the Final Data Tape (other than with respect to the procedures described herein relating to the Sample Selections) or the conformity of their respective attributes with those assumed for purposes of the procedures described herein, (iii) the existence or ownership of the lease agreements and related documentation, (iv) whether the lease agreements and related documentation or any other documents provided to us by or on behalf of the Company are comprehensive and valid instruments. Also, such procedures performed would not necessarily reveal any material misstatement of the information referred to above. This report relates only to the items specified above and does not extend to the Issuer's financial statements for any date or period.

We were not engaged to and did not perform an examination, the objective of which would be the expression of an opinion on the information referred to above. Accordingly, we do not express such an opinion. Had we performed additional procedures; other matters might have come to our attention that would have been reported to you.

This report is intended solely for the information and use of the Specified Users and is not intended to be and should not be used by anyone other than the Specified Users without our prior consent. It is not to be circulated, quoted, or otherwise referred to, without our prior consent, for any other purpose, nor is it to be included or referred to in whole or in part in any other document.

Yours truly,

![](tm2616045d2_ex99-1img002.jpg)

![](tm2616045d2_ex99-1img003.jpg)

June 22, 2026

**EXHIBIT I**

**<u>Agreed Upon Procedures</u>**

Using non-statistical sampling techniques, the Company's Agent selected 100 billboard assets from the Data Tape that were operational as of the Cut-Off Date and FTI performed the following procedures with respect to the below noted Data Tape Fields<sup>1</sup>:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Step** | &nbsp;&nbsp;**Data Tape Field** | &nbsp;&nbsp;**Source Document / Procedure<sup>2</sup>** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Site ID | · Agree to Ad Manager computer system and/or lease agreement, easement, or other related documentation |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Adams Outdoor Advertising Market | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · Agree to Ad Manager computer system and/or lease agreement, easement, or other related documentation<br> · Using the Ad Manager computer system, agree to the following:<br> o If Lehigh agree to Eastern PA<br> o If Madison agree to Wisconsin<br> o If Kalamazoo agree to West Michigan |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;Site State | · Agree to applicable lease agreement, easement, or other related documentation |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;Billboard Asset Type | · Agree to Company's internal reporting systems |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;Site Address | · Agree to applicable lease agreement, easement, or other related documentation<br> · As a backup source, agree to Ad Manager Computer System |
| &nbsp;&nbsp;6 | &nbsp;&nbsp;Trailing Twelve Month Static or Digital Revenue | · Agree to Company's internal reporting systems; Round to the nearest cent |
| &nbsp;&nbsp;7 | &nbsp;&nbsp;Lease Type | · Agree to Ad Manager computer system |
| &nbsp;&nbsp;8 | &nbsp;&nbsp;Lease Term | · Agree to applicable lease agreement, easement, or other related documentation<br> · For billboard assets operating on month-to-month terms, agree to one month after the Cut-Off Date (5/31/2026).<br> · For perpetual billboard assets, agree to 4/30/2126<br> · For Company-owned assets, agree to 4/30/2126<br> · Agree Lease Term to +/- 1 day |
| &nbsp;&nbsp;9 | &nbsp;&nbsp;Remaining Years | · Calculated based on the Lease Term minus the Cut-Off Date divided by 365<br> · For perpetual billboard assets: Assumed to be 100 years<br> · For Company-owned billboard assets: Assumed to be 100 years |

---

<sup>1</sup> For the purposes of these procedures, contracts for Public Service Announcements will be excluded from the Sample Customer Contracts.

<sup>2</sup> For billboard assets operating on an agreement acquired by Adams, for relevant data tape fields where the lease is used as supporting documentation, agree to lease agreements and other related documentation for the following third-party companies: Triad Investment Company, Riley Outdoor, LLC, Detroit Outdoor L.L.C., Scotty Outdoor, LLC, Toby Outdoor, LLC, Elite Displays Group LLC., Bullfrog Outdoor Advertising, Inc., Chesapeake Outdoor, LLC, American Outdoor Advertising, Inc.

![](tm2616045d2_ex99-1img003.jpg)

June 22, 2026

**EXHIBIT II**

**<u>Data Tape Testing Summary of Results</u>**

Using non-statistical sampling techniques, the Company's Agent selected 100 billboard assets from the Data Tape that were operational as of the Cut-Off Date for the purpose of testing specific attributes as detailed in Exhibit I included herein.

1. Site ID (100 Selections Tested)

FTI identified no errors during our testing of Site ID.

*Notes and Consideration: FTI agreed Site ID to the source documents and/or procedures as detailed in Exhibit I included herein.*

2. Adams Outdoor Advertising Market (100 Selections Tested)

FTI identified no errors during our testing of Adams Outdoor Advertising Market.

*Notes and Considerations: FTI agreed Adams Outdoor Advertising Market to the source documents and/or procedures as detailed in Exhibit I included herein.*

3. Site State (100 Selections Tested)

FTI identified four discrepancies during our testing of Site State.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Site ID** | &nbsp;&nbsp;**Site State per Data Tape** | &nbsp;&nbsp;**Site State per Supporting<br> Documentation** | &nbsp;&nbsp;**Corrected per Final<br> Data Tape (Yes or<br> No)** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;A228 | &nbsp;&nbsp;Pennsylvania | &nbsp;&nbsp;N/A | &nbsp;&nbsp;No |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;N3550 | &nbsp;&nbsp;Virginia | &nbsp;&nbsp;N/A | &nbsp;&nbsp;No |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;07/000843 | &nbsp;&nbsp;South Carolina | &nbsp;&nbsp;N/A | &nbsp;&nbsp;No |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;1066 | &nbsp;&nbsp;Illinois | &nbsp;&nbsp;N/A | &nbsp;&nbsp;No |

---

*Notes and Considerations: FTI agreed Site State to the source documents and/or procedures as detailed in Exhibit I included herein. For the discrepancies above, FTI noted the supporting documentation was expired. As FTI was not able to verify that the respective leases were still active, FTI considered these exceptions for testing purposes. Other than the discrepancies above, no further exceptions were noted for testing purposes.*

4. Billboard Asset Type (100 Selections Tested)

FTI identified two discrepancies during our testing of Billboard Asset Type

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Site ID** | &nbsp;&nbsp;**Billboard Asset Type per Data<br> Tape** | &nbsp;&nbsp;**Billboard Asset Type per<br> Supporting Documentation** | &nbsp;&nbsp;**Corrected per Final<br> Data Tape (Yes or<br> No)** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;NCO107 | &nbsp;&nbsp;Custom Bulletin | &nbsp;&nbsp;Bulletin | &nbsp;&nbsp;Yes |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;07/008365 | &nbsp;&nbsp;Custom Bulletin | &nbsp;&nbsp;Bulletin | &nbsp;&nbsp;Yes |

---

*Notes and Considerations: FTI agreed Billboard Asset Type to the source documents and/or procedures as detailed in Exhibit I included herein. Per Management, the discrepancies noted above were due to data retrieval errors. As these discrepancies were corrected in the Final Data Tape, no exceptions were noted for testing purposes.*

![](tm2616045d2_ex99-1img003.jpg)

June 22, 2026

5. Site Address (100 Selections Tested)

FTI identified no errors during our testing of Site Address.

*Notes and Considerations: FTI agreed Site Address to the source documents and/or procedures as detailed in Exhibit I included herein.*

6. Trailing Twelve Month Static or Digital Revenue (100 Selections Tested)

FTI identified no errors during our testing of Trailing Twelve Month Static or Digital Revenue.

*Notes and Considerations: FTI agreed Trailing Twelve Month Static or Digital Revenue to the source documents and/or procedures as detailed in Exhibit I included herein.*

7. Lease Type (100 Selections Tested)

FTI identified no errors during our testing of Lease Type.

*Notes and Considerations: FTI agreed Lease Type to the source documents and/or procedures as detailed in Exhibit I included herein.*

8. Lease Term (100 Selections Tested)

FTI identified thirty-six discrepancies during our testing of Lease Term.

*Notes and Considerations: FTI agreed Lease Term to the source documents and/or procedures as detailed in Exhibit I included herein. For twenty-six of the discrepancies, the Company stated the differences were due to data entry errors. As these discrepancies were corrected in the Final Data Tape, no exceptions were noted for testing purposes. For nine of the discrepancies, FTI noted the supporting documentation was expired. As FTI was not able to verify that the respective leases were still active, FTI considered these exceptions for testing purposes. For one discrepancy, the Company stated supporting documentation was unavailable due to this billboard asset being acquired in an older acquisition. As such, FTI considered this an exception for testing purposes. Other than the discrepancies above, no further exceptions were noted for testing purposes.*

9. Remaining Years (100 Selections Tested)

FTI identified thirty-six discrepancies during our testing of Remaining Years.

*Notes and Considerations: FTI recalculated Remaining Years using the source documents and/or procedures as detailed in Exhibit I included herein. For twenty-six discrepancies, FTI noted that that they were attributed to the difference in Lease Term (Step #8). As these discrepancies were corrected in the Final Data Tape, no exceptions were noted for testing purposes. For ten discrepancies, FTI noted that they were due to the difference in Lease Term (Step #8). As such, FTI considered these exceptions for testing purposes. Other than the discrepancies above, no further exceptions were noted for testing purposes.*

![](tm2616045d2_ex99-1img003.jpg)