A.O. Smith manufactures a broad lineup of water heaters, boilers, and water treatment products. The company has two reporting segments: North America (80% of sales) and rest of world (20% of sales). A.O. Smith is the leading manufacturer of water heaters in North America for the residential and commercial markets, with approximately 36% and 52% market share, respectively. Residential water heaters account for most of North American sales and are distributed equally through wholesale and retail channels. Most of A.O. Smith's international revenue is from China, a market the company entered in the mid-1990s.

Institution	Shares	Value	Change
FMR LLC	7,930,566	$523M	INCREASED
BlackRock, Inc.	7,357,191	$485M	INCREASED
VANGUARD CAPITAL MANAGEMENT LLC	7,333,389	$484M	NEW
VANGUARD PORTFOLIO MANAGEMENT LLC	7,099,252	$468M	NEW
STATE STREET CORP	5,758,931	$380M	DECREASED

A.O. Smith Corporation (AOS) Ownership & Trading Activity

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