Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LINCOLN G RUSSELL
   2. Issuer Name and Ticker or Trading Symbol
LINCOLN ELECTRIC HOLDINGS INC [LECO] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
11863 WIMBLEDON #445		 3. Date of Earliest Transaction (Month/Day/Year)
09/06/2011
(Street)

WELLINGTON, FL 33414		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 09/06/2011   M   4,000 A $ 11.4 353,806 (1) D  
Common Shares 09/08/2011   S   259 D $ 32 353,547 D  
Common Shares 09/08/2011   S   400 D $ 31.89 353,147 D  
Common Shares 09/08/2011   S   300 D $ 31.88 352,847 D  
Common Shares 09/08/2011   S   100 D $ 31.8813 352,747 D  
Common Shares 09/08/2011   S   100 D $ 31.8806 352,647 D  
Common Shares 09/08/2011   S   100 D $ 31.8826 352,547 D  
Common Shares 09/08/2011   S   100 D $ 31.8804 352,447 D  
Common Shares 09/08/2011   S   100 D $ 31.8836 352,347 D  
Common Shares 09/08/2011   S   100 D $ 31.8821 352,247 D  
Common Shares 09/08/2011   S   100 D $ 31.8816 352,147 D  
Common Shares 09/08/2011   S   100 D $ 31.8831 352,047 D  
Common Shares 09/08/2011   S   100 D $ 31.8817 351,947 D  
Common Shares 09/08/2011   S   100 D $ 31.93 351,847 D  
Common Shares 09/08/2011   S   100 D $ 31.94 351,747 D  
Common Shares 09/08/2011   S   100 D $ 31.95 351,647 D  
Common Shares 09/08/2011   S   100 D $ 31.96 351,547 D  
Common Shares 09/08/2011   S   100 D $ 31.9606 351,447 D  
Common Shares 09/08/2011   S   100 D $ 31.9608 351,347 D  
Common Shares 09/08/2011   S   100 D $ 31.97 351,247 D  
Common Shares 09/08/2011   S   100 D $ 31.9702 351,147 D  
Common Shares 09/08/2011   S   100 D $ 31.9703 351,047 D  
Common Shares 09/08/2011   S   600 D $ 31.97 350,447 D  
Common Shares 09/08/2011   S   641 D $ 31.77 349,806 D  
Common Shares               12,318 (2) (3) I (2) By Trust
Common Shares               35,154 (4) (5) I (4) By Trust
Common Shares               1,028 (6) (7) I (6) By Spouse
Common Shares               61,560 (8) (9) I (8) By Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 11.4 09/06/2011   M     4,000 (10) 11/30/2002 11/30/2011 Common Shares 4,000 $ 11.4 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LINCOLN G RUSSELL
11863 WIMBLEDON #445
WELLINGTON, FL 33414		   X      

Signatures

 /s/ Frederick G. Stueber,Frederick G. Stueber, as Attorney-in-Fact for G. Russell Lincoln   09/08/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 174,903 additional shares of common stock of which 7,012 are restricted shares.
(2) G. Russell Lincoln, Trustee of the Samuel Powell Lincoln 1990 Trust and reporting person disclaims beneficial ownership.
(3) On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 6159 additional shares of common stock.
(4) G. Russell Lincoln, Trustee of the Laura P. Heath Family Trust and reporting person disclaims beneficial ownership.
(5) On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 17,577 additional shares of common stock.
(6) Reflects shares held by reporting person's spouse (Constance Lincoln) and reporting person disclaims beneficial ownership.
(7) On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 514 additional shares of common stock.
(8) G. Russell Lincoln, Trustee of the G.R. Lincoln Family Foundation and reporting person disclaims beneficial ownership.
(9) On May 31, 2011, the common stock of Lincoln Electric Holdings,Inc. split 2-for-1, resulting in the reporting person's ownership of 30,780 additional shares of common stock.
(10) On May 31, 2011, the common stock of Lincoln Electric Holdings, Inc. split 2-for-1, resulting in the reporting person's ownership of 2,000 additional stock options.

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