EMCOR Group, Inc.

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 1,143 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

• Holdings are empty, a sourced finding. The latest 10-K (fiscal year ended 31 Dec 2025, filed 26 Feb 2026, https://www.sec.gov/Archives/edgar/data/105634/000010563426000025/eme-20251231.htm) and the latest 10-Q (quarter ended 30 Jun 2026, filed 30 Jul 2026, https://www.sec.gov/Archives/edgar/data/105634/000010563426000110/eme-20260630.htm) were both searched via scripts/filing.py search/prose for 'equity method', 'joint venture', 'unconsolidated', 'non-marketable', 'nonmarketable', 'investment in', 'affiliate', 'noncontrolling interest', 'variable interest entity', 'VIE', 'minority-ownership interest', '% interest', '% ownership' and 'consolidated joint venture'. Unlike the Comfort Systems reference file, EMCOR's 10-K DOES disclose an equity-method accounting policy ('Investments over which we exercise significant influence, but do not control, are accounted for using the equity method of accounting') and reports small aggregate cash-flow-statement line items: 'Equity income from unconsolidated entities' of $62 thousand (2025), $98 thousand (2024), $1,660 thousand (2023), and 'Distributions from unconsolidated entities' of $251 thousand (2025), $1,554 thousand (2024), $400 thousand (2023). No individual joint venture or equity-method investee is named or separately sized anywhere in either filing; this is a combined, immaterial aggregate covering an unknown number of unnamed entities, so per the brief's rule on combined balances, none of them can be sized and holdings stays empty. The combined figures are recorded here rather than assigned to any single investee.
• Construction backlog is not an equity stake. Both filings discuss contract backlog extensively (a standard operating metric for a contractor); this was deliberately not treated as a holding.
• The 'funds which invested in diversified credit vehicles ... and funds which aimed to provide long-term income through investment in UK property assets', found in the 10-K's fair-value note, are United Kingdom defined-benefit pension PLAN ASSETS (Note 14, Retirement Plans), not equity stakes held by EMCOR itself. These are plan assets held for the benefit of pension participants and are excluded from holdings per the brief's rule on client/plan assets.
• No stock split found. Searched the 10-Q for 'stock split' and 'forward split' (zero hits) and cross-checked SEC dei:EntityCommonStockSharesOutstanding cover-page figures: 44,109,901 shares at 24 Jul 2026 (10-Q cover), consistent in scale with the ~44 million shares implied across all Q2 2026 13F filings for the same CUSIP and with the proxy's 7 Apr 2026 beneficial-ownership percentages, a smooth continuum rather than a discontinuous split-driven jump.
• Implied-price check on the high share price, done explicitly because EMCOR combines a genuinely high share price ($825.93 as of 18 Aug 2026, stockanalysis.com, fetched directly, 12:46pm EDT) with a comparatively small share count (44,109,901), exactly as the brief warns for this subject. shares_outstanding times the sourced share price implies a market cap of about $36.43 billion, matching stockanalysis.com's own independently reported market cap of $36.43 billion for the same page load. Separately, every Q2 2026 13F filer checked (Vanguard's seven successors, BlackRock, FMR, State Street, Geode, Norges Bank, Wellington) independently implies a per-share price clustered tightly at about $826 to $830 as of the 30 Jun 2026 report date, six to seven weeks before the 18 Aug 2026 quote, a small and directionally consistent gap given EMCOR's Q2 2026 earnings beat and raised full-year guidance reported in mid-2026. A four-figure-approaching implied price cluster is therefore genuinely correct here, not a values-in-thousands artifact; the T. Rowe Price row is the one case where the raw XML value WAS in thousands, corrected in its own method_note, and the correction lands it in the same cluster as every other filer, which is the check that confirms it.
• Vanguard case: PARENT FILED 13F-NT (Vanguard Group Inc, CIK 0000102909, accession 0000102909-26-002714, filed 13 Aug 2026), so the position is reported entirely by successor entities. Per the brief's warning that one prior chunk found five successors, not the usual two, this file used SEC's company-name search (browse-edgar, company=vanguard, type=13F-HR) to enumerate every Vanguard-named 13F filer, checked twelve of them individually for CUSIP 29084Q100, and found SEVEN holding: Vanguard Capital Management LLC, Vanguard Portfolio Management LLC, Vanguard Asset Management Ltd, Vanguard Fiduciary Trust Co, Vanguard Global Advisers LLC, Vanguard Investments Australia Ltd, and Vanguard Personalized Indexing Management LLC, summing to 5,352,387 shares (12.13%), the largest single position in the register. Vanguard Marketing Corporation, Vanguard National Trust Co and Vanguard Capital Wealth Advisors were checked and confirmed to hold zero EMCOR shares; Vanguard V Venture Partners LLC filed no 13F this quarter.
• Capital Group family: all three mandated entities (Capital World Investors CIK 0001422849, Capital International Investors CIK 0001562230, Capital Research Global Investors CIK 0001422848) were checked by both issuer-name fragment and CUSIP 29084Q100 in their Q2 2026 13F-HR filings. None holds EMCOR; all three returned zero hits. No Capital Group row appears in the register.
• Berkshire Hathaway Inc (CIK 0001067983) and Dodge & Cox (CIK 0000200217) were checked per the brief's warning that concentrated active managers can be missed on a mid-cap industrial. Both Q2 2026 13F-HR filings were checked by name fragment and CUSIP; neither holds EMCOR shares. No sizeable non-index active holder beyond FMR (3.03%), the Vanguard family (12.13% combined) and T. Rowe Price (0.49%) was found.
• Proxy 5% holders are stale and incomplete relative to the Q2 2026 13F data used in the register. The 2026 DEF 14A (record date 7 Apr 2026) lists only BlackRock, Inc. at 8.03% (Schedule 13G/A, 3,566,461 shares, filed 17 Oct 2025) and FMR LLC at 5.94% (Schedule 13G, 2,641,059 shares, filed 5 Nov 2025) as beneficial owners of more than 5%. Vanguard is NOT in this table: the proxy's own footnote explains that Vanguard filed an amended Schedule 13G/A on 26 Mar 2026 disclaiming beneficial ownership over shares held by various Vanguard subsidiaries and business divisions following an internal realignment on 12 Jan 2026, with those subsidiaries now reporting separately (on a disaggregated basis), which is exactly the pattern the Q2 2026 13F search confirmed: seven separate Vanguard-family entities, none individually over 5%, together above 12%. This is the invisible-to-a-standard-checklist case the brief warns about, just inverted: Vanguard disappeared from the proxy's 5% table specifically because of the realignment, and only a full 13F-family sweep recovers its true size. The register uses each manager's Q2 2026 Form 13F-HR (30 Jun 2026 position date) as the more current, filing-basis source for BlackRock and FMR as well; both figures (proxy and 13F) are recorded, with the 13F figures used as the primary sourced register values.
• EMCOR has a single class of common stock and no founder or dual-class control structure. The officers and directors group holds only 0.74% in aggregate, and every one of its 12 members is individually named in the proxy table (unlike the Comfort Systems reference file, where 15 of 17 group members were unnamed); the largest individual insider is Chairman/President/CEO Anthony J. Guzzi at 0.39%, well below any of the top institutional holders. This is not a founder-controlled company in the sense the brief flags for insider emphasis.
• Self-gate, computed the way the chart computes it: 10 register rows. The only rolls_up_into relationship is Anthony J. Guzzi (170,299 shares) into 'All current directors and current executive officers as a group (12 persons)'; the aggregate row's own reported 324,890 is reduced to a residual of 154,591. Every other row (Vanguard, BlackRock, FMR, State Street, Geode, Norges Bank, T. Rowe Price, Wellington, and Guzzi's own member row at full value) counts at full value. Total = 5,352,387 + 4,116,754 + 1,334,646 + 1,978,559 + 1,281,283 + 526,648 + 215,216 + 106,189 + 170,299 + 154,591 = 15,236,572 shares, or 34.5423% of 44,109,901 shares outstanding, within the expected 25 to 45 percent band.
• Market cap ($36,431,690,533) is computed as company.shares_outstanding (44,109,901, from the 10-Q cover page, 24 Jul 2026) times the sourced share price ($825.93, stockanalysis.com, fetched directly 18 Aug 2026, 12:46pm EDT), and matches stockanalysis.com's own displayed market cap of $36.43 billion on the same page load.