Lennox International 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 615 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

• Shares outstanding (34,560,675) is from the cover page of the 10-Q for the quarter ended 30 Jun 2026 (filed 29 Jul 2026, 'As of July 22, 2026'), which is the newest cover-page share count available: no Q3 FY2026 10-Q or newer 10-K had been filed as of 20 Aug 2026. Lennox has a small, heavily bought-back float: the balance sheet shows 87,170,197 shares issued at 30 Jun 2026 against only 34,560,675 outstanding, i.e. roughly 52.6 million shares held in treasury, so a stale denominator (e.g. the proxy's 34,781,312 as of 15 Mar 2026, or older 10-K figures) visibly distorts percentages. This is exactly the 'Honeywell trap' the brief warns about; every register percentage here is computed against the 34,560,675 cover-page figure, not the proxy's own (slightly larger, five-months-older) denominator.
• Stock price fell sharply between the Q2 13F measurement date and today: LII traded around $537-547 in the week before 29 Jul 2026, then dropped roughly 21% in a single day to ~$430 on 29 Jul 2026 (the day the Q2 10-Q was filed), and has traded in the $411-447 range since, closing at $419.34 on 19 Aug 2026 (used for market_cap_usd here). This explains why every institutional 13F row below implies a per-share price around $570-574 (their 30 Jun 2026 measurement date, before the drop) while the current market cap is priced off $419.34: the two are not inconsistent, just measured five to seven weeks apart across an earnings-driven repricing.
• Holdings side: Lennox participates in four active joint ventures, all equity-method accounted and none consolidated: a 49.9% interest in a JV with Samsung (ductless AC/heat pump distribution), a 49.9% interest in a JV with Ariston Group (water heater manufacturing/distribution), a 50% interest in a Mexican JV (Bohn de Mexico S.A. de C.V. and Frigus-Bohn S.A. de C.V., unit coolers/condensers/compressors), and a 24.5% interest in Alliance Compressor LLC (compressor manufacturing, unnamed partner). All four are still active: Home Comfort Solutions and Building Climate Solutions segments both reported equity-method income for the quarter ended 30 Jun 2026 in the Q2 FY2026 10-Q. Searched the FY2025 10-K and the Q1 and Q2 FY2026 10-Qs for 'equity method', 'joint venture', 'unconsolidated', 'investment in', 'equity investment', 'non-marketable', 'Samsung', 'affiliate' and 'minority interest'.
• Exhibit 21 to the FY2025 10-K (List of Subsidiaries) DOES carry an ownership-percentage column, and it is what sized the Mexico JV (Bohn de Mexico 50%, Frigus-Bohn 50%) and Alliance Compressor LLC (24.5%). It does NOT list the Samsung JV or Ariston JV at all, even though both are named and sized (49.9% each) in Item 1 Business prose; the 49.9% figures used here come from that prose rather than Exhibit 21, since neither JV entity appears there.
• The combined balance of the equity-method investments in all four joint ventures (plus a separate held-to-maturity investment purchased in 2024, unrelated to the JVs and not treated as an equity holding here) was disclosed only as a single total: $59.7 million equity-method plus $7.9 million held-to-maturity, $67.6 million total investments, as of 31 Dec 2025 (the FY2025 10-K; no fresher per-category breakdown appears in the Q1 or Q2 FY2026 10-Qs). No per-venture split is disclosed anywhere, so per the brief's rule against assigning a combined balance to one investee, all four holding rows carry shares: null and value_usd: null; only their filed ownership percentages (pct_of_target) are recorded.
• The 2026 proxy's 5% Stockholders table DID include all three major institutional families (Vanguard 11.2%, BlackRock 8.2%, Capital International Investors 8.5%), unlike the Allegion-style gap described in the chunk prompt where Vanguard was omitted entirely. All three were refreshed here against fresher Q2 2026 13F-HR filings; the proxy's own Vanguard footnote additionally discloses a 27 Mar 2026 Schedule 13G/A in which The Vanguard Group reported 0.0% ownership after disaggregating its position down to subsidiary filers, consistent with Vanguard Group's parent CIK filing 13F-NT for Q2 2026.
• T. Rowe Price: T. Rowe Price Associates, Inc. (CIK 0000080255) holds 96,317 shares as of 30 Jun 2026, reported as '$55,186' in its own 13F-HR information table; T. Rowe Price reports values in thousands, so the true value is $55,186,000 (implied price ~$572.9/share, consistent with every other institutional row this quarter). T. Rowe Price Investment Management, Inc. (CIK 0001897612), the separate registrant, holds no LENNOX INTL position as of 30 Jun 2026, checked directly against its own 13F-HR information table. FMR LLC (Fidelity, CIK 0000315066) holds only 14,199 shares as of 30 Jun 2026 (3 lines, $8,135,654), smaller than T. Rowe. Both are below the smallest row included in the top-10 register above (Invesco, 485,554 shares) and were checked but not added as separate rows.
• Implied-price check: every institutional register row (Vanguard family, BlackRock, Capital Group family, State Street, Morgan Stanley, Geode, Kayne Anderson Rudnick, Invesco, plus the checked-but-excluded T. Rowe Price Associates and FMR rows) implies a 30 Jun 2026 per-share price between $570.7 and $574.3, internally consistent with no values-in-thousands mismatches on any included row.
• Self-gate (computed from this final file on disk, chart arithmetic: 'All current directors and executive officers as a group' is an is_aggregate row and John W. Norris, III is its only member via rolls_up_into, so the aggregate is reduced by his 3,227,243 shares to a residual of 114,328; every other row, including Norris's own member row, counts at full value): 10 register rows, total charted shares 3,752,552 (Vanguard) + 3,227,243 (Norris) + 2,975,559 (BlackRock) + 2,577,906 (Capital Group) + 114,328 (directors/officers residual) + 1,483,993 (State Street) + 1,013,833 (Morgan Stanley) + 863,378 (Geode) + 739,856 (Kayne Anderson Rudnick) + 485,554 (Invesco) = 17,234,202 shares, against shares_outstanding 34,560,675 = 49.87% of the company. This is above the 25-45% band the brief describes as typical, but explainable rather than a sign of an error: Lennox has an unusually small float after heavy buybacks (34.56 million shares outstanding versus 87.17 million issued), is heavily held by index funds and large active managers (Vanguard, BlackRock, Capital Group, State Street, Geode alone total 32.5% of the company), AND carries a large, legitimately separate founder-family director stake (John W. Norris, III, 9.34%, verified not to double count with the officers/directors aggregate he sits inside). No mixed instrument, mixed basis, or double-counted holder was found on review: every institutional row was cross-checked for a consistent implied per-share price, and Norris's rolls_up_into marking was checked against the underlying proxy footnote breakdown to confirm he is genuinely one of the 16 persons in the aggregate rather than a name-collision or vehicle sitting outside it.