- Statement of Changes in Beneficial Ownership (4)

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	OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5
	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(f) of the Investment Company Act of 1940

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 (MM/DD/YYYY) 9/6/2011
(Street) WELLINGTON, FL 33414 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	9/6/2011		M		4000	A	$11.4	353806 ⁽¹⁾	D
Common Shares	9/8/2011		S		259	D	$32	353547	D
Common Shares	9/8/2011		S		400	D	$31.89	353147	D
Common Shares	9/8/2011		S		300	D	$31.88	352847	D
Common Shares	9/8/2011		S		100	D	$31.8813	352747	D
Common Shares	9/8/2011		S		100	D	$31.8806	352647	D
Common Shares	9/8/2011		S		100	D	$31.8826	352547	D
Common Shares	9/8/2011		S		100	D	$31.8804	352447	D
Common Shares	9/8/2011		S		100	D	$31.8836	352347	D
Common Shares	9/8/2011		S		100	D	$31.8821	352247	D
Common Shares	9/8/2011		S		100	D	$31.8816	352147	D
Common Shares	9/8/2011		S		100	D	$31.8831	352047	D
Common Shares	9/8/2011		S		100	D	$31.8817	351947	D
Common Shares	9/8/2011		S		100	D	$31.93	351847	D
Common Shares	9/8/2011		S		100	D	$31.94	351747	D
Common Shares	9/8/2011		S		100	D	$31.95	351647	D
Common Shares	9/8/2011		S		100	D	$31.96	351547	D
Common Shares	9/8/2011		S		100	D	$31.9606	351447	D
Common Shares	9/8/2011		S		100	D	$31.9608	351347	D
Common Shares	9/8/2011		S		100	D	$31.97	351247	D
Common Shares	9/8/2011		S		100	D	$31.9702	351147	D
Common Shares	9/8/2011		S		100	D	$31.9703	351047	D
Common Shares	9/8/2011		S		600	D	$31.97	350447	D
Common Shares	9/8/2011		S		641	D	$31.77	349806	D
Common Shares								12318 ⁽²⁾ ⁽³⁾	I ⁽²⁾	By Trust
Common Shares								35154 ⁽⁴⁾ ⁽⁵⁾	I ⁽⁴⁾	By Trust
Common Shares								1028 ⁽⁶⁾ ⁽⁷⁾	I ⁽⁶⁾	By Spouse
Common Shares								61560 ⁽⁸⁾ ⁽⁹⁾	I ⁽⁸⁾	By Trust

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$11.4	9/6/2011		M			4000 ⁽¹⁰⁾	11/30/2002	11/30/2011	Common Shares	4000	$11.4	0	D

Explanation of Responses:
( 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.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	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		9/8/2011
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	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).
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