Viessmann cuts Carrier (NYSE: CARR) stake in 12,094,823-share block sale

Rhea-AI Filing Summary

Carrier Global’s major shareholder Viessmann Traeger HoldCo reported a change in its ownership. On May 20, 2026, Viessmann sold 12,094,823 Carrier common shares in a Rule 144 block trade at $62.01 per share, a 2.4847% discount to that day’s closing price.

After the sale, the Viessmann reporting group beneficially owned 37,979,286 shares, or about 4.57% of Carrier’s 830,580,423 shares outstanding as of April 15, 2026. The filing emphasizes that Viessmann remains one of Carrier’s largest shareholders and that Max Viessmann will continue on the board, becoming Chair of the Technology & Innovation Committee.

Insights

Equity ownership & governance analyst

Large holder Viessmann trims Carrier stake but stays influential.

The filing shows Viessmann Traeger HoldCo executed a Rule 144 block trade for 12,094,823 Carrier shares at $62.01, slightly below the May 20, 2026 close (2.4847% discount). This is a secondary sale, so Carrier itself does not receive proceeds.

Post-transaction, Viessmann entities still own 37,979,286 shares, or 4.57% of outstanding stock based on 830,580,423 shares as of April 15, 2026. The narrative stresses portfolio rebalancing and ongoing strategic commitment, with Max Viessmann remaining on the board and assuming the Chair role of the Technology & Innovation Committee.

For investors, the change looks like a meaningful but not controlling reduction in a large shareholder’s position, paired with reaffirmed board-level engagement. The overall thesis impact appears limited, as ownership remains substantial and governance involvement is being reinforced rather than reduced.

Key Figures

Block trade shares sold: 12,094,823 shares Block trade price: $62.01 per share Discount to close: 2.4847% +3 more

6 metrics

Block trade shares sold 12,094,823 shares Carrier common stock sold by Viessmann HoldCo on May 20, 2026

Block trade price $62.01 per share Sale price for Carrier shares in Rule 144 block trade

Discount to close 2.4847% Discount to Carrier’s May 20, 2026 closing share price

Post-trade beneficial ownership 37,979,286 shares Shares of Carrier common stock beneficially owned by Reporting Persons as of May 20, 2026

Ownership percentage 4.57% Portion of Carrier common stock class represented by 37,979,286 shares

Shares outstanding baseline 830,580,423 shares Carrier common shares outstanding as of April 15, 2026 per Form 10-Q

Key Terms

Schedule 13D, block trade, Rule 144, beneficially owned, +1 more

5 terms

Schedule 13D regulatory

"This Amendment No. 7 amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

block trade financial

"entered into a block trade (the "Block Trade") with JPMorgan Chase Bank, N.A."

A block trade is a large, privately arranged sale or purchase of a company's shares or bonds between big investors, often negotiated to avoid upsetting the public market price. Think of it like selling a truckload of goods directly to one buyer instead of unloading it on a busy street — it moves a lot of supply at once and can signal shifting demand, affect immediate liquidity, and influence short-term stock prices.

Rule 144 regulatory

"sold 12,094,823 shares of Carrier common stock at a price of $62.01 per share in a block trade pursuant to Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

beneficially owned financial

"may be deemed to have beneficially owned an aggregate of 37,979,286 shares of Common Stock"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Investor Rights Agreement regulatory

"Investor Rights Agreement, dated as of January 2, 2024, by and among Carrier Global Corporation and Viessmann Group GmbH & Co. KG"

A legally binding contract between a company and its investors that spells out investors’ core protections and privileges—such as voting rights, how and when shares can be sold, information access, and steps for resolving disputes. Think of it like a rulebook or homeowner association agreement for ownership: it clarifies who gets a say, how value can be realized, and what protections exist if things go wrong, making investment risks and expectations clearer for shareholders.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

Carrier Global Corp

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

14448C104

(CUSIP Number)

Viessmann Generations Group Gm
Im Birkenried 1,
Battenberg (Eder), 2M, 35088
49 (0) 6452 9296 000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/20/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 14448C104

1

Name of reporting person

Viessmann Generations Group GmbH & Co. KG

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,979,286.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,979,286.00

11

Aggregate amount beneficially owned by each reporting person

37,979,286.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

See Item 5.

SCHEDULE 13D

CUSIP Number(s): 14448C104

1

Name of reporting person

Viessmann Komplementar B.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,979,286.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,979,286.00

11

Aggregate amount beneficially owned by each reporting person

37,979,286.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See Item 5.

SCHEDULE 13D

CUSIP Number(s): 14448C104

1

Name of reporting person

Viessmann Zweite Beteiligungs B.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,979,286.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,979,286.00

11

Aggregate amount beneficially owned by each reporting person

37,979,286.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

See Item 5.

SCHEDULE 13D

CUSIP Number(s): 14448C104

1

Name of reporting person

Maximilian Viessmann

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,979,286.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,979,286.00

11

Aggregate amount beneficially owned by each reporting person

37,979,286.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

See Item 5.

SCHEDULE 13D

CUSIP Number(s): 14448C104

1

Name of reporting person

Viessmann Traeger HoldCo GmbH

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,979,286.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,979,286.00

11

Aggregate amount beneficially owned by each reporting person

37,979,286.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.57 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

See Item 5.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: Carrier Global Corp
(c)	Address of Issuer's Principal Executive Offices: 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS, FLORIDA , 33418.
Item 1 Comment: This Amendment No. 7 (this "Amendment") amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") on January 9, 2024 (the "Original Schedule 13D"), as amended by Amendment No. 1 as filed with the SEC on March 22, 2024 (the "Amendment No. 1"), as amended by Amendment No. 2 as filed with the SEC on November 13, 2024 (the "Amendment No. 2"), as amended by Amendment No. 3 as filed with the SEC on November 15, 2024 (the "Amendment No. 3"), as amended by Amendment No. 4 as filed with the SEC on November 20, 2024 (the "Amendment No. 4"), as amended by Amendment No. 5 as filed with the SEC on November 29, 2024 (the "Amendment No. 5"), and as amended by Amendment No. 6 as filed with the SEC on June 5, 2025 (the "Amendment No. 6") (as so amended, the "Schedule 13D"). Except as specifically provided herein, this Amendment does not modify any of the information previously reported on the Schedule 13D. All disclosure in respect of items contained in the Schedule 13D where no new information is provided for such item in this Amendment is incorporated herein by reference. Capitalized terms not otherwise defined in this Amendment shall have the same meanings ascribed thereto in the Schedule 13D.
Item 4.	Purpose of Transaction
	On May 20, 2026, Viessmann Traeger HoldCo GmbH (together with its affiliates, "VGG") entered into a block trade (the "Block Trade") with JPMorgan Chase Bank, N.A. ("JPMorgan") with respect to a portion of VGG's ownership of Carrier Global Corporation ("Carrier" or the "Company") common stock. The aggregate number of shares sold in the Block Trade was 12,094,823. The price of the shares sold in the Block Trade represents a discount of 2.4847% to the closing price of Carrier's common stock on May 20, 2026. VGG received the Carrier shares as consideration for Carrier's acquisition of Viessmann Climate Solutions in January 2024. VGG entered into the Block Trade to support portfolio rebalancing. Notwithstanding the Block Trade, VGG continues to hold a substantial ownership position in the Company and remains one of the Company's largest shareholders. Max Viessmann remains firmly committed to Carrier for the long term, as demonstrated by his substantial investment in the Company and his sustained focus on advancing its growth strategy and value creation framework. Mr. Viessmann believes that his investment in Carrier positions VGG to participate in the Company's long-term growth and supports the Company's competitiveness over the short-term and long-term. As further evidence of Mr. Viessmann's belief in Carrier and its future, he will proudly continue to serve on the Company's Board of Directors and will assume the role of Chair of the Company's Technology & Innovation Committee. In that capacity, Mr. Viessmann expects to devote even further time and attention to the Company and its strategic priorities. Mr. Viessmann added: "Carrier and Viessmann Climate Solutions together represent a unique platform to accelerate innovation and drive the energy transition. I remain fully committed to Carrier and its long-term success. I look forward to taking on the role of Chair of the Technology & Innovation Committee to support the Company's strategic growth initiatives and long-term competitiveness."
Item 5.	Interest in Securities of the Issuer
(a)	As of May 20, 2026, the Reporting Persons may be deemed to have beneficially owned an aggregate of 37,979,286 shares of Common Stock, representing approximately 4.57% of the total outstanding shares of Common Stock (such percentage is calculated based on 830,580,423 shares of Common Stock outstanding as of April 15, 2026 according to the Company's quarterly report on Form 10-Q for the three months ended March 31, 2026 filed with the SEC on April 30, 2026). As of May 20, 2026, Viessmann HoldCo was the record and beneficial owner of 37,979,286 shares of Common Stock. Viessmann Group KG, as the sole stockholder of Viessmann HoldCo, may be deemed to be the beneficial owner of, and share dispositive and voting control over, the shares of Common Stock held by Viessmann HoldCo. In addition, each of Viessmann GP, as the sole general partner of Viessmann Group KG, Viessmann LP, as the managing limited partner of Viessmann Group KG, and Mr. Viessmann, as the director and controlling stockholder of each of Viessmann GP and Viessmann LP, may be deemed to be the beneficial owner of, and share dispositive and voting control over, the shares of Common Stock held by Viessmann HoldCo.
(b)	See Item 5(a).
(c)	On May 20, 2026, the Reporting Persons executed the transaction set forth in the table below and as described in Item 4 to this Amendment, which is incorporated herein by reference. Other than as reported in this Item 5(c), the Reporting Persons have not effected any transactions in shares of Common Stock in the past 60 days. Viessmann HoldCo sold 12,094,823 shares of Carrier common stock at a price of $62.01 per share in a block trade pursuant to Rule 144.
(d)	Except as disclosed in the Schedule 13D, no persons other than the Reporting Persons has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the shares of Common Stock beneficially owned by any of the Reporting Persons.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The information set forth under Item 4 is hereby incorporated by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 - Joint Filing Agreement, dated as of November 13, 2024, by and among Viessmann Traeger HoldCo GmbH, Viessmann Generations Group GmbH & Co. KG, Viessmann Komplementar B.V., Viessmann Beteiligungs AG, Viessmann Zweite Beteiligungs B.V. and Maximilian Viessmann (incorporated by reference to Exhibit 99.1 to the Amendment No. 2). Exhibit 99.2 - Share Purchase Agreement, dated as of April 25, 2023, by and among Carrier Global Corporation, Blitz F23-620 GmbH (subsequently renamed Johann Purchaser GmbH) and Viessmann Group GmbH & Co. KG (incorporated by reference to Exhibit 99.2 to the Original Schedule 13D). Exhibit 99.3 - Post-Closing Amendment to Share Purchase Agreement, dated as of January 2, 2024, by and among Carrier Global Corporation, Johann Purchaser GmbH and Viessmann Group GmbH & Co. KG. (incorporated by reference to Exhibit 99.3 to the Original Schedule 13D). Exhibit 99.4 - Investor Rights Agreement, dated as of January 2, 2024, by and among Carrier Global Corporation and Viessmann Group GmbH & Co. KG (incorporated by reference to Exhibit 99.4 to the Original Schedule 13D). Exhibit 99.5 - License Agreement, dated as of January 2, 2024, by and among Carrier Global Corporation, Viessmann Group GmbH & Co. KG and Carrier Innovative Technologies GmbH (incorporated by reference to Exhibit 99.5 to the Original Schedule 13D). Exhibit 99.6 - Transitional Services Agreement, dated as of January 2, 2024, by and among Carrier Global Corporation, Viessmann Climate Solutions SE and Viessmann Group GmbH & Co. KG. (incorporated by reference to Exhibit 99.6 to the Original Schedule 13D). Exhibit 99.7 - Limited Power of Attorney of Maximilian Viessmann, dated as of November 13, 2024 (incorporated by reference to Exhibit 99.7 to the Amendment No. 2). Exhibit 99.8 - Contribution Agreement, dated as of March 21, 2024, by and among Viessmann Group GmbH & Co. KG and Johanna 391 Vermogensverwaltungs GmbH (subsequently renamed to Viessmann Traeger HoldCo GmbH) (incorporated by reference to Exhibit 99.8 to the Amendment No. 1). Exhibit 99.9 - Contribution Agreement, dated as of November 12, 2024, by and among Viessmann Generations Group GmbH & Co. KG and Viessmann Traeger HoldCo GmbH (incorporated by reference to Exhibit 99.9 to the Amendment No. 2). Exhibit 99.10 - Contribution Agreement, dated as of November 14, 2024, by and among Viessmann Generations Group GmbH & Co. KG and Viessmann Traeger HoldCo GmbH (incorporated by reference to Exhibit 99.10 to the Amendment No. 3). Exhibit 99.11 - Contribution Agreement, dated as of November 19, 2024, by and among Viessmann Generations Group GmbH & Co. KG and Viessmann Traeger HoldCo GmbH (incorporated by reference to Exhibit 99.11 to the Amendment No. 4). Exhibit 99.12 - Contribution Agreement, dated as of November 26, 2024, by and among Viessmann Generations Group GmbH & Co. KG and Viessmann Traeger HoldCo GmbH (incorporated by reference to Exhibit 99.12 to the Amendment No. 5). Exhibit 99.13 - Block Trade Purchase Agreement, dated as of June 5, 2025, by and among Viessmann Traeger HoldCo GmbH and Carrier Global Corporation (incorporated by reference to Exhibit 99.13 to the Amendment No. 6).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Viessmann Generations Group GmbH & Co. KG

Signature:	/s/ Boris Scukanec Hopinski
Name/Title:	Boris Scukanec Hopinski / Chief Operating Officer
Date:	05/20/2026

Signature:	/s/ Hans-Jorg Harth
Name/Title:	Hans-Jorg Harth / Authorized Representative
Date:	05/20/2026

Viessmann Komplementar B.V.

Signature:	/s/ Boris Scukanec Hopinski
Name/Title:	Boris Scukanec Hopinski / Executive Board Member
Date:	05/20/2026

Signature:	/s/ Hans-Jorg Harth
Name/Title:	Hans-Jorg Harth / Authorized Representative
Date:	05/20/2026

Viessmann Zweite Beteiligungs B.V.

Signature:	/s/ Maximilian Viessmann
Name/Title:	Maximilian Viessmann / President and Chief Executive Officer
Date:	05/20/2026

Maximilian Viessmann

Signature:	/s/ Maximilian Viessmann
Name/Title:	Maximilian Viessmann
Date:	05/20/2026

Viessmann Traeger HoldCo GmbH

Signature:	/s/ Boris Scukanec Hopinski
Name/Title:	Boris Scukanec Hopinski / Managing Director
Date:	05/20/2026

Signature:	/s/ Hans-Jorg Harth
Name/Title:	Hans-Jorg Harth / Managing Director
Date:	05/20/2026

FAQ

What change in Carrier (CARR) ownership did Viessmann report in this Schedule 13D/A?

Viessmann reported selling 12,094,823 Carrier shares in a block trade. The sale occurred on May 20, 2026 under Rule 144. After this transaction, Viessmann-related entities beneficially owned 37,979,286 Carrier common shares, representing about 4.57% of outstanding stock based on 830,580,423 shares.

How many Carrier (CARR) shares does Viessmann beneficially own after the May 20, 2026 trade?

After the trade, Viessmann entities beneficially own 37,979,286 Carrier shares. This stake equals approximately 4.57% of Carrier’s common stock, calculated against 830,580,423 shares outstanding as of April 15, 2026, as disclosed in Carrier’s Form 10-Q referenced in the filing.

At what price did Viessmann sell its Carrier (CARR) shares in the Rule 144 block trade?

Viessmann sold 12,094,823 Carrier shares at $62.01 per share. The filing notes that this price reflected a 2.4847% discount to Carrier’s closing share price on May 20, 2026. The sale was executed as a block trade with JPMorgan Chase Bank, N.A. under Rule 144.

Why did Viessmann execute a block trade in Carrier (CARR) shares?

Viessmann executed the block trade to support portfolio rebalancing. The filing explains that Viessmann Traeger HoldCo sold the shares as part of managing its investment portfolio. It emphasizes that Viessmann still holds a substantial Carrier stake and remains one of the company’s largest shareholders.

How did Viessmann originally receive its Carrier (CARR) shares?

Viessmann received its Carrier shares as acquisition consideration. The filing states that Viessmann obtained Carrier common stock in January 2024 as part of the consideration for Carrier’s acquisition of Viessmann Climate Solutions, tying the equity stake directly to that strategic transaction.

What ongoing governance role will Max Viessmann have at Carrier (CARR)?

Max Viessmann will remain on Carrier’s board and chair a key committee. The filing notes he continues as a director and will assume the role of Chair of the Technology & Innovation Committee, signaling continued involvement in Carrier’s strategic and innovation priorities.