Legence (LGN): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
2 concentrated managers hold it with a median weight of 7.0%.
Who owns Legence?
Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: BCP 8/BEP 3 Holdings Manager L.L.C. (13G/A filed Aug 7, 2026) and BlackRock (13G filed Jul 29, 2026). Legence Parent ML LLC and Schwarzman Stephen A are listed on their Form 4 filings as owners of more than 10%. As of Jun 30, 2026, the largest holders reported on Form 13F were Blackstone (19.5 million shares), BlackRock (4.5 million shares) and Jupiter Topco (2.9 million shares).
Which institutions hold the most Legence shares?
Per Form 13F filings as of Jun 30, 2026:
- 1. Blackstone: 19.5 million shares
- 2. BlackRock: 4.5 million shares
- 3. Jupiter Topco: 2.9 million shares
- 4. Franklin Resources: 2.9 million shares
- 5. Vanguard Portfolio Management: 2.6 million shares
- 6. Healthcare of Ontario Pension Plan Trust Fund: 2.5 million shares
- 7. Vanguard Capital Management: 2.5 million shares
- 8. First Trust Advisors: 1.9 million shares
- 9. Geode Capital Management: 1.6 million shares
- 10. Forest Avenue Capital Management: 1.5 million shares
Sources:13G/A by BCP 8/BEP 3 Holdings Manager L.L.C. (Aug 7, 2026) ↗13G by BlackRock (Jul 29, 2026) ↗All of the company's proxy statements on EDGAR ↗
With more than one share class, a 13D or 13G counts shares convertible from another class as owned, so we do not show its percentage. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Legence revenue
Legence reported annual revenue of $2.55 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (2 → 2): 1 opened · 1 exited = 0
Net flow in the quarter: +$90.4M (+1.1 M shares) · bought $132M and sold $41.4MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
The set of concentrated managers changed between quarters: with the set as it was then, 3 held it last quarter (the chart point); with today's set, 2 (the base for the change).
Concentrated managers holding it
- Forest Avenue Capital ManagementNew$132M5.5%+5.5 pp
- Engle Capital ManagementReduced$30.9M8.5%−3.5 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- BlackstonePrivate equity or venture capital$1.7 bn4.5%
- Healthcare of Ontario Pension Plan Trust FundPension or sovereign fund$216M0.3%
Largest holders of LGN (all 13F filers)
- Blackstone19.5 MPrivate equity or venture capital−5.9 M
- BlackRock4.5 MIndex manager+1.9 M
- Jupiter Topco2.9 MType not verifiedno data
- Franklin Resources2.9 MInvestment firm+558 K
- Vanguard Portfolio Management2.6 MIndex manager+1.1 M
- Healthcare of Ontario Pension Plan Trust Fund2.5 MPension or sovereign fund+1.9 M
- Vanguard Capital Management2.5 MIndex manager+981 K
- First Trust Advisors1.9 MInvestment firm+1.7 M
- Geode Capital Management1.6 MIndex manager+660 K
- Forest Avenue Capital Managementconcentrated1.5 MInvestment firm+1.5 M
- Shares
- 19.5 M
- Change
- −5.9 M
See more
- Type
- Private equity or venture capital
- Value
- $1.7 bn
- Shares
- 4.5 M
- Change
- +1.9 M
See more
- Type
- Index manager
- Value
- $386M
- Shares
- 2.9 M
- Change
- no data
See more
- Type
- Type not verified
- Value
- $246M
- Shares
- 2.9 M
- Change
- +558 K
See more
- Type
- Investment firm
- Value
- $245M
- Shares
- 2.6 M
- Change
- +1.1 M
See more
- Type
- Index manager
- Value
- $219M
- Shares
- 2.5 M
- Change
- +1.9 M
See more
- Type
- Pension or sovereign fund
- Value
- $216M
- Shares
- 2.5 M
- Change
- +981 K
See more
- Type
- Index manager
- Value
- $213M
- Shares
- 1.9 M
- Change
- +1.7 M
See more
- Type
- Investment firm
- Value
- $160M
- Shares
- 1.6 M
- Change
- +660 K
See more
- Type
- Index manager
- Value
- $133M
- Forest Avenue Capital Managementconcentrated
- Shares
- 1.5 M
- Change
- +1.5 M
See more
- Type
- Investment firm
- Value
- $132M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.
- Operating margin
- 0.8%
- Net margin
- -1.2%
- ROE
- -7.5%
- Revenue (TTM)
- $3.7 bn
- Revenue growth
- —
- Net income (TTM)
- $-45.0M
- Net debt / EBITDA
- 4.9x
- Free cash flow (TTM)
- $323M
- Quality vs sector
- 19/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- no datanot calculated with negative net income
- Interest coverage (operating income ÷ interest)
- 0.6 timesfiscal 2025
- Debt due within 12 months
- $26.2M0.09 times cash and investments
- Year 1$13.0M
- Year 2$18.6M
- Year 3$19.7M
- Year 4$8.0M
- Year 5$8.0M
- Later$758M
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Unregistered sale of equity securities (Item 3.02)
«Legence Completes Acquisition of Bowers»
Change in directors or officers (Item 5.02)
Unregistered sale of equity securities (Item 3.02)
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
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