| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| VANGUARD GROUP INC | 10% | $879,073,988 | 19,741,163 | The Vanguard Group | 31 Dec 2025 | |||
| Bain Capital Prairie, LLC | 9.9% | $625,629,225 | 18,759,497 | Bain Capital Prairie, LLC | 05 Jun 2025 |
As of 31 Dec 2025, 608 institutional investors reported holding 156,412,169 shares of LINCOLN NATIONAL CORP - Common Stock (LNC). This represents 82% of the company’s total 190,001,569 outstanding shares.
The largest institutional shareholders of LINCOLN NATIONAL CORP - Common Stock (LNC) together control 63% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| VANGUARD GROUP INC | 10% | 19,741,163 | -0.82% | 0.01% | $879,073,987 |
| Bain Capital Prairie, LLC | 9.9% | 18,759,497 | 0% | 100% | $835,360,401 |
| BlackRock, Inc. | 9.8% | 18,552,669 | +0.68% | 0.01% | $826,150,370 |
| DIMENSIONAL FUND ADVISORS LP | 3.3% | 6,233,327 | +8.8% | 0.06% | $277,574,174 |
| STATE STREET CORP | 3.1% | 5,895,772 | -1.4% | 0.01% | $262,538,727 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 3.1% | 5,887,841 | -1.1% | 0.08% | $262,185,561 |
| PRICE T ROWE ASSOCIATES INC /MD/ | 2.7% | 5,208,356 | +0.08% | 0.03% | $231,929,000 |
| FIRST TRUST ADVISORS LP | 2.5% | 4,784,370 | -2% | 0.15% | $213,047,999 |
| MORGAN STANLEY | 2.1% | 4,062,903 | -4.1% | 0.01% | $180,921,147 |
| JENNISON ASSOCIATES LLC | 1.9% | 3,681,158 | +59% | 0.1% | $163,921,966 |
| GEODE CAPITAL MANAGEMENT, LLC | 1.6% | 2,959,195 | +0.5% | 0.01% | $131,800,952 |
| LSV ASSET MANAGEMENT | 1.4% | 2,572,936 | -1.6% | 0.25% | $114,573,000 |
| PRINCIPAL FINANCIAL GROUP INC | 1.2% | 2,312,254 | -0.87% | 0.05% | $102,964,670 |
| NORGES BANK | 1.2% | 2,270,699 | 0.01% | $101,114,226 | |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1.1% | 2,077,984 | +0.52% | 0.01% | $92,532,628 |
| Balyasny Asset Management L.P. | 1% | 1,943,422 | +90% | 0.16% | $86,540,582 |
| NORTHERN TRUST CORP | 1% | 1,943,202 | -3.9% | 0.01% | $86,530,786 |
| Bank of New York Mellon Corp | 0.95% | 1,797,919 | -5.5% | 0.01% | $80,061,321 |
| GOLDMAN SACHS GROUP INC | 0.89% | 1,698,818 | +7.8% | 0.01% | $75,648,391 |
| UBS Group AG | 0.82% | 1,558,881 | -11% | 0.01% | $69,416,970 |
| Invesco Ltd. | 0.73% | 1,381,058 | -2.8% | 0.01% | $61,498,512 |
| BANK OF AMERICA CORP /DE/ | 0.72% | 1,364,442 | +14% | 0% | $60,758,599 |
| AQR CAPITAL MANAGEMENT LLC | 0.64% | 1,214,186 | +48% | 0.03% | $54,067,676 |
| MILLENNIUM MANAGEMENT LLC | 0.57% | 1,078,128 | +93% | 0.03% | $48,009,040 |
| MARSHALL WACE, LLP | 0.52% | 980,953 | +33% | 0.04% | $43,681,835 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 156,412,169 | $6,964,141,826 | +$204,092,893 | $44.53 | 608 |
| 2025 Q3 | 134,236,890 | $5,413,416,774 | +$127,227,899 | $40.33 | 600 |
| 2025 Q2 | 132,724,761 | $4,593,068,261 | +$190,906,837 | $34.60 | 560 |
| 2025 Q1 | 126,353,602 | $4,531,817,685 | +$25,526,340 | $35.91 | 562 |
| 2024 Q4 | 126,092,717 | $3,998,100,385 | -$3,879,835 | $31.71 | 551 |
| 2024 Q3 | 125,577,343 | $3,954,605,866 | -$56,289,185 | $31.51 | 526 |
| 2024 Q2 | 126,358,990 | $3,928,978,087 | +$108,229,171 | $31.10 | 532 |
| 2024 Q1 | 123,200,510 | $3,929,256,106 | +$17,732,530 | $31.93 | 496 |
| 2023 Q4 | 123,679,214 | $3,333,347,460 | -$57,114,715 | $26.97 | 500 |
| 2023 Q3 | 125,738,855 | $3,103,566,460 | +$40,736,385 | $24.69 | 471 |
| 2023 Q2 | 123,675,003 | $3,177,239,038 | -$142,657,881 | $25.76 | 489 |
| 2023 Q1 | 129,731,094 | $2,907,692,169 | -$128,624,499 | $22.47 | 483 |
| 2022 Q4 | 134,162,418 | $4,123,038,450 | +$36,921,580 | $30.72 | 564 |
| 2022 Q3 | 134,083,900 | $5,900,746,606 | +$160,912,442 | $43.91 | 599 |
| 2022 Q2 | 129,958,322 | $6,070,517,974 | +$113,785,453 | $46.77 | 611 |
| 2022 Q1 | 129,003,630 | $8,413,802,695 | -$307,382,821 | $65.36 | 636 |
| 2021 Q4 | 133,640,078 | $9,109,937,826 | -$568,978,596 | $68.26 | 659 |
| 2021 Q3 | 141,539,185 | $9,707,207,067 | -$203,361,995 | $68.75 | 625 |
| 2021 Q2 | 145,032,848 | $9,078,831,841 | -$119,534,156 | $62.84 | 611 |
| 2021 Q1 | 146,916,078 | $9,115,116,130 | -$168,044,169 | $62.27 | 616 |
| 2020 Q4 | 150,907,812 | $7,567,245,291 | +$35,026,540 | $50.31 | 611 |
| 2020 Q3 | 150,740,026 | $4,709,773,752 | -$59,343,716 | $31.33 | 522 |
| 2020 Q2 | 152,444,589 | $5,589,125,324 | -$35,296,946 | $36.79 | 546 |
| 2020 Q1 | 154,017,835 | $4,054,101,070 | -$408,078,895 | $26.32 | 498 |
| 2019 Q4 | 160,148,900 | $9,447,330,924 | -$20,060,468 | $59.01 | 613 |
| 2019 Q3 | 161,141,605 | $9,719,574,822 | -$259,670,091 | $60.32 | 619 |
| 2019 Q2 | 165,307,643 | $10,639,062,859 | +$117,649,811 | $64.45 | 658 |
| 2019 Q1 | 166,403,164 | $9,770,255,816 | -$290,619,626 | $58.70 | 645 |
| 2018 Q4 | 170,876,930 | $8,768,758,741 | -$355,315,391 | $51.31 | 621 |
| 2018 Q3 | 175,483,390 | $11,871,530,459 | -$210,095,141 | $67.66 | 649 |
| 2018 Q2 | 178,773,824 | $11,130,410,440 | -$120,263,238 | $62.25 | 661 |
| 2018 Q1 | 179,873,514 | $13,141,376,560 | +$48,876,623 | $73.06 | 679 |
| 2017 Q4 | 180,108,901 | $13,848,550,175 | -$150,656,566 | $76.87 | 674 |
| 2017 Q3 | 181,411,489 | $13,330,336,572 | -$71,999,776 | $73.48 | 636 |
| 2017 Q2 | 182,447,885 | $12,329,593,990 | -$114,742,502 | $67.58 | 644 |
| 2017 Q1 | 185,143,348 | $12,117,514,412 | +$1,031,274,302 | $65.45 | 632 |
| 2016 Q4 | 186,469,299 | $12,351,578,891 | +$97,348,633 | $66.27 | 622 |
| 2016 Q3 | 183,978,140 | $8,626,177,685 | -$104,338,279 | $46.98 | 558 |
| 2016 Q2 | 186,488,901 | $7,231,357,949 | -$280,228,270 | $38.77 | 552 |
| 2016 Q1 | 193,435,123 | $7,582,793,934 | -$123,551,461 | $39.20 | 547 |
| 2015 Q4 | 195,756,751 | $9,838,526,532 | -$201,069,360 | $50.26 | 568 |
| 2015 Q3 | 199,896,208 | $9,487,661,986 | -$283,088,169 | $47.46 | 561 |
| 2015 Q2 | 205,844,444 | $12,187,719,475 | -$251,497,575 | $59.22 | 580 |
| 2015 Q1 | 210,245,362 | $12,073,193,675 | -$189,516,714 | $57.46 | 584 |
| 2014 Q4 | 213,623,985 | $12,311,823,499 | +$9,112,451 | $57.67 | 577 |
| 2014 Q3 | 215,301,014 | $11,535,627,372 | -$425,277,763 | $53.58 | 552 |
| 2014 Q2 | 222,742,573 | $11,458,059,190 | -$60,585,692 | $51.44 | 540 |
| 2014 Q1 | 225,681,550 | $11,431,011,241 | -$124,919,390 | $50.67 | 536 |