Carrier Global Corporation

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,470 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Carrier Global Corporation trades as common stock, CUSIP 14448C104. Shares outstanding of 824,325,057 is taken from the Q2 2026 10-Q cover page (as of 15 Jul 2026). The 2026 proxy statement uses a different, earlier record-date share count (835,433,325 as of 19 Feb 2026) for its own beneficial-ownership percentages; institutional 13F register rows here use the more current 10-Q figure as denominator, insider/strategic rows use the proxy's own denominator, matching how each source computed its stated percentage.
• Holdings: searched the Q2 2026 10-Q and FY2025 10-K for 'equity method', 'unconsolidated', 'joint venture', 'equity investments', 'investment in', 'Beijer Ref', 'Toshiba Carrier', 'Carrier Transicold', 'Viessmann', 'noncontrolling', 'affiliate'. Three findings, none of which could be sized as a current holding: (1) BEIJER REF AB. Contrary to the working assumption for this research, Carrier does NOT currently hold a stake in Beijer Ref. Carrier's FY2021 10-K (filed Feb 2022) describes selling 9.25 million B shares in Sept 2020 (approximately 7.9% of Beijer's outstanding B shares, SEK 290/share, ~$300m proceeds, $252m pre-tax gain) and then selling ALL remaining A and B shares in Dec 2020 (SEK 245/share, ~$1.1bn proceeds, $871m pre-tax gain), fully exiting the position. 'Beijer' does not appear in any Carrier 10-K or 10-Q filed after the one covering FY2022 (filed Feb 2023), and a targeted SEC full-text search across all Carrier filings from 2022 onward returns only that FY2022 10-K, confirming no re-acquisition. (2) TOSHIBA CARRIER CORPORATION (TCC), a VRF/light-commercial-HVAC joint venture with Toshiba Corporation, was previously an equity method investee, but on 6 Feb 2022 Carrier entered a binding agreement to acquire a MAJORITY ownership stake in TCC for approximately $900 million; a 'TCC acquisition-related adjustment' appears in the FY2023 10-K. Per the brief's own exclusion rule, a venture Carrier consolidates (controls) is excluded, and TCC now reads as a controlled, consolidated operation rather than a minority stake, so it is not listed as a holding; its current ownership percentage is not disclosed in the filings reviewed. (3) The FY2025 10-K's equity-investments note states Carrier's 'partially-owned equity affiliates' (the 20-50%-owned, equity-method group) are 56% attributable to the Climate Solutions Americas segment and 40% to Climate Solutions Asia Pacific, Middle East & Africa as of 31 Dec 2025, but names no individual investee besides the departed Beijer Ref and the now-majority-owned TCC. The risk-factors section separately names three ongoing joint ventures by name with no ownership percentage or value disclosed for any: the Carrier Enterprise joint ventures with Watsco, Inc., AHI-Carrier FZC (UAE), and various joint ventures with members of the Midea Group. None can be individually sized.
• Divestitures checked for retained equity: Access Solutions (sold for $5.0bn cash, closed 2 Jun 2024), Industrial Fire (sold for $1.4bn cash, closed 1 Jul 2024) and the Commercial and Residential Fire business/CRF (sold for $2.9bn cash, closed 2 Dec 2024), together the former Fire & Security segment; Commercial Refrigeration/CCR (divested 1 Oct 2024 via a stock purchase agreement, working-capital adjustments finalized in 2025, described only as cash proceeds with no retained equity mentioned); and the Riello business (stock purchase agreement to sell to Ariston Group entered 16 Dec 2025, expected gross proceeds approximately $430 million, not yet closed as of the FY2025 10-K). All five are described in the filings as sales for cash consideration; none of the filing language indicates Carrier received or retained equity in the buyer, so none leaves a holding to record. The combined equity-method-investments balance sheet line ($1,341 million at 30 Jun 2026, $1,321 million at 31 Dec 2025) covers multiple unnamed investees at once and per the no-combined-balance rule is not assigned to any one of them.
• Register: no Schedule 13D or 13G filer besides Viessmann Generations Group GmbH & Co. KG (CIK 0002004244) was found holding a strategic stake; its EDGAR filing history shows Schedule 13D (9 Jan 2024, filed contemporaneously with the Viessmann acquisition closing) and four subsequent 13D/A amendments through 29 Nov 2024, none since. The 2026 proxy's own Principal Shareowners table separately cites 13G/A filings for BlackRock (as of 30 Sep 2024, 55,209,169 shares, 6.61%) and for Capital Research Global Investors (as of 31 Dec 2024, 75,499,505 shares, 9.04%, disclaimed under Rule 13d-4) and puts Vanguard at 93,816,461 shares (11.23%). These 13G-sourced, mid-2024-to-end-2024 figures are all lower than or diverge from this register's Q2 2026 13F-HR figures for the same institutions (Vanguard 87,850,184 via the two 13F successor filers only, versus the 13G's fuller 93,816,461 covering more Vanguard entities; Capital Research Global Investors alone at 106,065,347 in its own Q2 2026 13F, versus 75,499,505 in the Dec 2024 13G, an increase consistent with roughly 18 months of further accumulation; BlackRock 67,176,195 in the Q2 2026 13F versus 55,209,169 in the Sep 2024 13G). Differences are attributed to the different, more current filing dates used for the register rather than to a data error.
• The Vanguard rule. Vanguard Group Inc (CIK 0000102909) filed Form 13F-NT (notice, no holdings) for the quarter ended 30 June 2026. Its Carrier position is instead reported by two successor entities, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC, summed into the single Vanguard row per rule 7. This is the successor case, not the parent-with-holdings case.
• Capital Group is three separate 13F filers of one family (Capital World Investors, Capital International Investors, Capital Research Global Investors); all three were checked and all three hold Carrier, so all three are summed into one 'Capital Group' row naming each entity and CIK in its method_note, per the project's instruction. This is Carrier's single largest holder family, at roughly 15.2% of shares outstanding from just the three checked entities (the project's own Q1 2026 CARR register shows six Capital Group CIKs totaling 147,747,144 shares, so the true current family total, including three further CIKs not individually checked here, is somewhat higher still).
• Thousands trap: T. Rowe Price Associates, Inc.'s Q2 2026 Form 13F-HR reports its Carrier position's dollar value in thousands rather than whole dollars (raw filed value 243,706 for 3,322,503 shares implies $0.073/share). Rescaled by x1000 to $243,706,000, which implies $73.36/share, consistent with every other Q2 2026 13F filer in this register (all cluster at $73.01 to $73.43/share). The rescaled figure is what appears in this file; the raw as-filed figure is not used.
• Insiders: the interesting story on Carrier's register is not a founder/dual-class structure but Max Viessmann's board seat plus the Viessmann Generations Group GmbH & Co. KG strategic stake (5.99% of shares outstanding), both stemming from Carrier's January 2024 acquisition of Viessmann Climate Solutions, which was paid partly in Carrier stock. This is recorded as a 'strategic' row rather than folded silently into ordinary insider ownership.
• Self-gate. Register has 14 rows. Following the chart's own reduction rule (Max Viessmann's 50,082,634 shares roll up into and reduce the 'Current Directors & Executive Officers as a group' row, which is otherwise 54,266,708 shares, to a residual of 4,184,074): total counted shares = 429,911,207 (twelve institutional 13F rows, none overlapping) + 50,082,634 (Max Viessmann, full) + 4,184,074 (directors/officers group residual) = 484,177,915 shares, against 824,325,057 shares outstanding, or 58.7%. This is above the 55% upper bound the brief flags for investigation. Cause identified, not a double count: this company's Q1 2026 13F register (data/registers/CARR.json, a project-built file from the SEC bulk 13F dataset, used only to select which managers to look up) shows total 13F-reported holders across 40 groups summing to 718,013,321 shares, already 87% of shares outstanding, an unusually high institutional-ownership floor for an S&P 500 industrial. Within that, Capital Group alone (three checked entities) is roughly 15.2% of the company, the single largest concentration seen across this project's research files to date. A top-12-by-size selection from a company with that much institutional concentration and that little free float naturally lands above the range that fits a more typically-distributed shareholder base; every institutional figure here was independently read from its own Q2 2026 13F-HR filing and cross-checked for implied price-per-share clustering (all cluster at $73.01 to $73.43 aside from the corrected T. Rowe Price line), so the total is treated as a real feature of this company's ownership rather than an error to fix.