Vanguard shows 5.5% Legence (LGN) stake in 13G filing

Rhea-AI Filing Summary

The Vanguard Group has filed a Schedule 13G reporting beneficial ownership of Legence Corp common stock. Vanguard reports beneficial ownership of 3,227,670 shares, representing 5.5% of the class as of the triggering event on 12/31/2025.

Vanguard reports shared voting power over 249,483 shares and shared dispositive power over 3,227,670 shares, with no sole voting or dispositive power. The position is held in the ordinary course of business and is not intended to change or influence control of Legence.

The filing notes an internal realignment effective January 12, 2026, after which certain Vanguard subsidiaries or business divisions are expected to report beneficial ownership separately while pursuing the same investment strategies as before. Vanguard states its clients have rights to dividends and sale proceeds, with no single client holding more than 5% of the class.

Insights

Institutional ownership analyst

Vanguard reports a 5.5% passive institutional stake in Legence.

The Vanguard Group discloses beneficial ownership of 3,227,670 Legence common shares, or 5.5% of the class, under a Schedule 13G. The 13G format and certification emphasize that the position is held in the ordinary course of business, without a control-seeking purpose.

The filing shows shared voting power over 249,483 shares and shared dispositive power over 3,227,670 shares, with no sole authority. This indicates a broadly held, client-driven position typical of a large asset manager rather than a concentrated activist stake.

The internal realignment on January 12, 2026 means certain Vanguard subsidiaries or business divisions may later report ownership separately on a disaggregated basis, while continuing the same investment strategies. Future ownership reports may therefore appear under multiple related entities rather than solely under The Vanguard Group, Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Legence Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

52476L109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 52476L109

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 249,483.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,227,670.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,227,670.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.50 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. As of that date, The Vanguard Group, Inc. no longer performs portfolio management services or administers proxy voting. In accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. anticipates that certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that currently have, or are deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Legence Corp
(b)	Address of issuer's principal executive offices: 1601 Las Plumas Avenue, San Jose, CA, 95133
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 52476L109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3227670
(b)	Percent of class: 5.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 249483
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3227670
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	01/30/2026

FAQ

What stake does The Vanguard Group report in Legence Corp (LGN)?

The Vanguard Group reports beneficial ownership of 3,227,670 Legence Corp common shares, representing 5.5% of the outstanding class. This Schedule 13G shows Vanguard as a significant institutional holder crossing the 5% reporting threshold under U.S. securities regulations for passive ownership.

How much voting and dispositive power does Vanguard have over Legence (LGN) shares?

Vanguard reports shared voting power over 249,483 Legence shares and shared dispositive power over 3,227,670 shares, with no sole voting or dispositive power. This structure reflects its role managing assets on behalf of clients, rather than holding a direct, fully controlled proprietary position in the stock.

What does Vanguard say about its intent to influence control of Legence Corp (LGN)?

Vanguard certifies the Legence shares were acquired and are held in the ordinary course of business, not to change or influence control of the issuer. The filing also states the holdings are not connected with any transaction aimed at altering control, other than limited activities tied to proxy nomination rules.

Who has rights to dividends and sale proceeds from Vanguard’s Legence (LGN) holdings?

Vanguard states its clients, including registered investment companies and other managed accounts, have the right to receive or direct dividends and sale proceeds from these Legence shares. It also notes that no single other person’s interest in the reported securities exceeds 5% of the class.

What internal realignment at The Vanguard Group is mentioned in the Legence 13G?

The filing notes that on January 12, 2026, The Vanguard Group, Inc. underwent an internal realignment and no longer performs portfolio management or proxy voting. Certain subsidiaries or business divisions are expected to report beneficial ownership separately while continuing the same investment strategies previously pursued by Vanguard.

Why is Vanguard using Schedule 13G for its Legence Corp (LGN) position?

Schedule 13G is used for passive beneficial owners. Vanguard certifies that the Legence shares were acquired and are held in the ordinary course of business and not to change or influence control. This aligns with passive institutional investor reporting under the applicable SEC rules cited in the document.