The Estée Lauder Companies Inc. (Estee Lauder)

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 819 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

• company.name is written as 'The Estée Lauder Companies Inc. (Estee Lauder)' deliberately: this project's crosscheck.py strips all non-alphanumeric characters when normalising names, which strips the accented e entirely rather than transliterating it ('Estée' -> 'este', not 'estee'), so the plain accented legal name alone would make this company UNMATCHABLE against the slug 'estee-lauder'. The parenthetical ASCII form is the documented workaround (see wabtec/hpe precedent) and must not be removed.
• DUAL CLASS STRUCTURE. Class A Common Stock (ticker EL, NYSE) carries 1 vote per share and is the only class that is publicly traded / index-tracked / 13F-reportable (CUSIP 518439104). Class B Common Stock carries 10 votes per share, is restricted to Lauder family members and related entities, is NOT publicly traded and has no separate CUSIP, and converts 1-for-1 into Class A on transfer to a non-family holder or on sale. As of the 10-Q cover page dated 24 Apr 2026 (the freshest available: EL's fiscal year ends 30 Jun and its FY2026 10-K had not yet been filed as of 19 Aug 2026, the very day its FY2026 Q4/full-year earnings 8-K was filed): 247,287,571 Class A shares and 114,507,344 Class B shares outstanding.
• company.shares_outstanding is set to 361,794,915, the COMBINED Class A + Class B count, following this project's established convention for dual-class companies (Workday, Block, Lennar, Tyson Foods and Fox all chose the combined count as the single denominator wherever an insider's Class B sits in a plain 'shares' field). Every register row's pct_of_company uses this same combined denominator (see pct_denominator on each row), and every Lauder family row's 'shares' figure is itself a combined Class A + Class B count.
• VOTING CONCENTRATION IS THE STORY. Each Class B share carries 10 votes vs 1 for Class A, so the Lauder family controls a large majority of voting power despite holding well under half of total shares. LAL Family Corporation (LALFC, as general partner of LAL Family Partners L.P.) alone held 49.8% of aggregate voting power as of 31 Dec 2025 (its Schedule 13G/A, filed 17 Feb 2026, Item 8/Item 4). The full Stockholders' Agreement group (LALFC/LALFP plus Ronald S. Lauder, William P. Lauder, Gary M. Lauder, Aerin Lauder, Jane Lauder and related trusts/entities) held approximately 82.2% of the Issuer's aggregate voting power as of 31 Dec 2025 per that same 13G/A (Item 8), consistent with the slightly staler 2025 DEF 14A's statement that 'Shares subject to the Stockholders' Agreement represent approximately 84% of the voting power of the Company' as of the 15 Sep 2025 record date, and with the DEF 14A's separate statement that 'The Lauder family has direct and indirect holdings of approximately 84% of the total voting power.' Estée Lauder relies on NYSE controlled-company exemptions as a result.
• TWO-CONTAINER DEFECT FOUND AND RESOLVED: the 2025 DEF 14A's beneficial-ownership table lists Eric L. Zinterhofer (a current director) at Class A/B totals IDENTICAL to his wife Aerin Lauder's row; footnote (11) confirms his entire reported position is spousal attribution of shares Aerin Lauder holds directly or in trust, with no independently-owned shares of his own. Since rolls_up_into can only name one container, Eric L. Zinterhofer's register row is reduced to 0 shares, Aerin Lauder's row is carried at full (and freshly updated, larger) value, and the 'all directors and executive officers as a group' aggregate's own stated raw total has been pre-reduced by the duplicated 14,296,202-combined-share block before the further rolls_up_into member reduction is applied. Full arithmetic is in the method_note on both the Eric L. Zinterhofer row and the aggregate row. This matches the documented Marriott (JWM Family Enterprises / J.W. Marriott Jr.) and Fox (LGC Holdco / Lachlan Murdoch) precedent for this exact defect shape.
• MIXED-VINTAGE REGISTER: LALFC (31 Dec 2025), Ronald S. Lauder (8 Apr 2026) and Aerin Lauder (26 May 2026) are all sourced to fresh 2026 Schedule 13G/A or 13D/A filings and are current as of those dates. William P. Lauder, Gary M. Lauder, Jane Lauder, the Leonard A. Lauder 2013 Revocable Trust and the 'all directors and executive officers' aggregate are all sourced to the 2025 DEF 14A (31 Jul 2025) because no fresher Schedule 13G/D or share-total-bearing Form 4 was located for those individuals in this pass; their figures may be modestly stale relative to the family members above. All nine institutional 13F rows are Q2 2026 (period 30 Jun 2026), the freshest quarter available.
• HOLDINGS SIDE IS EFFECTIVELY EMPTY. Searched the FY2025 10-K (filed 20 Aug 2025, the latest 10-K on file; FY2026's had not yet been filed as of 19 Aug 2026) and the FY2026 Q3 10-Q (filed 1 May 2026, the latest 10-Q) for 'equity method', 'investments in', 'joint venture', 'unconsolidated', 'non-marketable', 'minority interest', 'equity securities', 'strategic investment', 'cost method', and checked Exhibit 21 (a plain wholly-owned-subsidiaries list with no ownership-percentage column, a genuine negative per this project's documented Exhibit-21 variance). DECIEM (skin care, Toronto) was a minority investment (increased to 76% in 2021) but the Company purchased the remaining interest in 2024 and DECIEM is now wholly owned: a wholly owned acquisition, not a holding, so it carries no row. The only real, named, unconsolidated minority stake found is Forest Essentials (Ayurvedic skin care, India, held via New Incubation Ventures), which is entirely unsized in every filing reviewed and is carried above as one holdings row with every numeric field null (see its method_note for the combined-balance detail). A 'cost method minority investment' impairment is referenced in the FY2026 Q3 10-Q's MD&A without a name or dollar figure and may or may not be Forest Essentials.
• SELF-GATE (computed from this file's own final register, exactly as the chart computes it): 18 register rows, 235,191,941 shares, 65.01% of shares_outstanding (361,794,915). This is above the project's usual 25-55% band for a single-class company, but is explainable and not, on inspection, a further double count: essentially ALL of Class B (114,507,344 shares, 31.65% of the combined company, effectively 100% Lauder-family-controlled) is captured across the LALFC + individual Lauder family rows, on top of which nine separately-verified institutional 13F filers cover a further roughly 113.7m Class-A-only shares (about 46% of Class A alone, 31.4% of the combined company). These two blocks are non-overlapping (each individual Lauder family member's proxy/13D/13G footnote states sole or shared voting/investment power directly, which is inconsistent with a bank or fund manager separately claiming 13F investment discretion over the same shares), so the high total reflects genuine, checkable concentration in a family-controlled dual-class company rather than a mixed basis or a remaining duplicate. Corroborated first-hand by the coordinator against this project's own 13F-derived register (data/registers/EL.json, period 31 Mar 2026, separate pipeline, Class A CUSIP only). The nine institutional rows in this file account for roughly 31.4% of the company on the combined A+B denominator; the family and insider rows account for the rest. The two blocks cannot overlap, because Class B is not publicly traded and no 13F filer can hold it, while the family's Class A holdings are reported through the proxy rather than through 13F. The 65.01% therefore reflects a genuinely concentrated dual-class structure rather than a double count, and the one duplicate that did exist, the Zinterhofer spousal attribution of Aerin Lauder's 14,296,202 shares, was found and removed exactly once (see the dedicated note above).
• Eric L. Zinterhofer, a director, is NOT carried as a register row, and this is deliberate. His beneficial-ownership row in the proxy is identical to his wife Aerin Lauder's: footnote 11 attributes 100% of her holding to him by spousal deeming, and he holds no independent shares. Carrying both rows would count the same 14,296,202 shares twice, which is the two-container defect that charted Marriott at 60.89% of itself and was caught again on W. R. Berkley, Fox and Texas Pacific Land in this project. Aerin Lauder's row is kept at its full, freshly updated value and the 'all directors and executive officers' aggregate had its raw total pre-reduced by the same 14,296,202 before the normal rolls_up_into reduction, so the duplicate is removed exactly once. This file originally carried Zinterhofer as a row with shares set to 0; the coordinator converted it to this note on 19 Aug 2026, because a row holding nothing renders as a holder of nothing rather than as a resolved duplicate, and the project rule is that a nil holder is a note. The change is arithmetically neutral: the charted register total is unaffected.