Who owns Lincoln National (LNC)
Which tracked institutional funds hold LNC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See LNC company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
99 tracked funds added or opened LNC while 107 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
LNC’s largest tracked holder by dollar value, Bain Capital Prairie, LLC, sizes it at 100.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 100.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in LNC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 582 tracked filers holding LNC, 306 increased or opened the position and 287 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in LNC between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 17
- Jupiter Topco LLC$3M
- XTX Topco Ltd$2M
- Lighthouse Investment Partners, LLC$2M
- HUSSMAN STRATEGIC ADVISORS, INC.$1M
- Y-Intercept (Hong Kong) Ltd$1M
- Sciencast Management LP$1M
Full exits 50
- LSV ASSET MANAGEMENT$91M
- HRT FINANCIAL LP$23M
- Alyeska Investment Group, L.P.$23M
- CSM Advisors, LLC$13M
- Janney Montgomery Scott LLC$11M
- Philadelphia Financial Management of San Francisco, LLC$10M
Largest adds
- BlackRock, Inc.$145M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$44M
- AMERICAN CENTURY COMPANIES INC$31M
- DIMENSIONAL FUND ADVISORS LP$28M
- D. E. Shaw & Co., Inc.$24M
- Gotham Asset Management, LLC$20M
Largest trims
- BALYASNY ASSET MANAGEMENT L.P.$25M
- FIRST TRUST ADVISORS LP$25M
- MILLENNIUM MANAGEMENT LLC$24M
- NORGES BANK$10M
- UBS Group AG$10M
- Freestone Grove Partners LP$7M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Bain Capital Prairie, LLC | 18,759,497 | $663M | 12.4% | 2026-Q2 |
| BlackRock, Inc. added | 18,561,962 | $656M | 12.3% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 10,427,206 | $369M | 6.9% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 8,571,956 | $303M | 5.7% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 8,347,042 | $295M | 5.5% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added | 6,373,067 | $227M | 4.3% | 2026-Q2 |
| STATE STREET CORP added | 6,106,302 | $216M | 4.0% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 4,993,803 | $177M | 3.3% | 2026-Q2 |
| JENNISON ASSOCIATES LLC trimmed | 3,772,433 | $133M | 2.5% | 2026-Q2 |
| MORGAN STANLEY trimmed | 3,632,194 | $128M | 2.4% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 3,193,783 | $113M | 2.1% | 2026-Q2 |
| NORGES BANK trimmed | 2,290,874 | $81M | 1.5% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 2,193,476 | $78M | 1.5% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC trimmed | 2,138,603 | $76M | 1.4% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 2,107,181 | $74M | 1.4% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 1,922,320 | $68M | 1.3% | 2026-Q2 |
| NORTHERN TRUST CORP added | 1,896,611 | $67M | 1.3% | 2026-Q2 |
| JUPITER ASSET MANAGEMENT LTD added | 1,869,735 | $66M | 1.2% | 2026-Q2 |
| Bank of New York Mellon Corp added | 1,785,335 | $63M | 1.2% | 2026-Q2 |
| Invesco Ltd. added | 1,600,963 | $57M | 1.1% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 1,592,814 | $56M | 1.1% | 2026-Q2 |
| HSBC HOLDINGS PLC trimmed | 1,492,506 | $53M | 1.0% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC added | 1,490,976 | $53M | 1.0% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 1,441,914 | $51M | 1.0% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 1,425,959 | $50M | 0.9% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 1,409,411 | $50M | 0.9% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 1,383,992 | $49M | 0.9% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 1,290,765 | $46M | 0.9% | 2026-Q2 |
| ALGEBRIS (UK) LTD trimmed | 1,271,655 | $45M | 0.8% | 2026-Q2 |
| UBS Group AG trimmed | 1,191,689 | $42M | 0.8% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 1,092,249 | $39M | 0.7% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 968,858 | $34M | 0.6% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 817,235 | $29M | 0.5% | 2026-Q2 |
| Allspring Global Investments Holdings, LLC added | 765,306 | $28M | 0.5% | 2026-Q2 |
| Caisse de depot et placement du Quebec added | 739,692 | $26M | 0.5% | 2026-Q2 |
| Quantinno Capital Management LP added | 733,102 | $26M | 0.5% | 2026-Q2 |
| Jain Global LLC added | 715,201 | $25M | 0.5% | 2026-Q2 |
| Gotham Asset Management, LLC added | 707,709 | $25M | 0.5% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 699,624 | $25M | 0.5% | 2026-Q2 |
| Hudson Bay Capital Management LP added | 694,014 | $25M | 0.5% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 662,900 | $23M | 0.4% | 2026-Q2 |
| Advisors Capital Management, LLC added | 619,920 | $22M | 0.4% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 618,888 | $22M | 0.4% | 2026-Q2 |
| Cander Asset Management LP added | 617,639 | $22M | 0.4% | 2026-Q2 |
| Interval Partners, LP added | 608,421 | $22M | 0.4% | 2026-Q2 |
| Miller Value Partners, LLC added | 603,160 | $21M | 0.4% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 584,697 | $21M | 0.4% | 2026-Q2 |
| SEI INVESTMENTS CO added | 560,828 | $20M | 0.4% | 2026-Q2 |
| LPL Financial LLC trimmed | 535,275 | $19M | 0.4% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 531,839 | $19M | 0.4% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 530,302 | $19M | 0.4% | 2026-Q2 |
| MetLife Investment Management, LLC added | 510,426 | $18M | 0.3% | 2026-Q2 |
| Schonfeld Strategic Advisors LLC added | 501,786 | $18M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 451,306 | $16M | 0.3% | 2026-Q2 |
| Legal & General Group Plc trimmed | 436,731 | $15M | 0.3% | 2026-Q2 |
| Focus Partners Wealth added | 387,962 | $14M | 0.3% | 2026-Q2 |
| Prana Capital Management, LP added | 371,356 | $13M | 0.2% | 2026-Q2 |
| Fideuram Asset Management (Ireland) dac added | 366,956 | $13M | 0.2% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 360,215 | $13M | 0.2% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 348,956 | $12M | 0.2% | 2026-Q2 |
| First Eagle Investment Management, LLC trimmed | 348,750 | $12M | 0.2% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 344,983 | $12M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 343,300 | $12M | 0.2% | 2026-Q2 |
| Allianz Asset Management GmbH added | 324,824 | $12M | 0.2% | 2026-Q2 |
| &PARTNERS added | 309,681 | $11M | 0.2% | 2026-Q2 |
| Man Group plc trimmed | 300,616 | $11M | 0.2% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 297,518 | $11M | 0.2% | 2026-Q2 |
| Squarepoint Ops LLC added | 288,804 | $10M | 0.2% | 2026-Q2 |
| Jump Financial, LLC added | 287,634 | $10M | 0.2% | 2026-Q2 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC added | 287,481 | $10M | 0.2% | 2026-Q2 |
| Nuveen, LLC trimmed | 252,980 | $9M | 0.2% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 227,292 | $8M | 0.2% | 2026-Q2 |
| Cordgrass Capital Advisors, LLC trimmed | 219,565 | $8M | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. trimmed | 198,827 | $7M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 198,619 | $7M | 0.1% | 2026-Q2 |
| Access Investment Management LLC | 196,500 | $7M | 0.1% | 2026-Q2 |
| Illinois Municipal Retirement Fund trimmed | 187,470 | $7M | 0.1% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 183,409 | $6M | 0.1% | 2026-Q2 |
| CITIGROUP INC added | 176,956 | $6M | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 176,096 | $7M | 0.1% | 2026-Q2 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM added | 163,271 | $6M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 161,688 | $6M | 0.1% | 2026-Q2 |
| Bridgewater Associates, LP trimmed | 160,168 | $6M | 0.1% | 2026-Q2 |
| Entropy Technologies, LP added | 159,739 | $6M | 0.1% | 2026-Q2 |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC added | 158,004 | $6M | 0.1% | 2026-Q2 |
| Universal- Beteiligungs- und Servicegesellschaft mbH trimmed | 157,934 | $6M | 0.1% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC trimmed | 155,491 | $5M | 0.1% | 2026-Q2 |
| FMR LLC trimmed | 153,581 | $5M | 0.1% | 2026-Q2 |
| Robeco Institutional Asset Management B.V. trimmed | 153,437 | $5M | 0.1% | 2026-Q2 |
| ALGERT GLOBAL LLC added | 147,509 | $5M | 0.1% | 2026-Q2 |
| CAPITAL FUND MANAGEMENT S.A. added | 143,420 | $5M | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 142,816 | $5M | 0.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 141,961 | $5M | 0.1% | 2026-Q2 |
| TRUIST FINANCIAL CORP added | 141,353 | $5M | 0.1% | 2026-Q2 |
| CI INVESTMENTS INC. trimmed | 136,067 | $5M | 0.1% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 130,791 | $5M | 0.1% | 2026-Q2 |
| Loudon Investment Management, LLC trimmed | 126,004 | $4M | 0.1% | 2026-Q2 |
| PNC Financial Services Group, Inc. trimmed | 125,425 | $4M | 0.1% | 2026-Q2 |
| NISA INVESTMENT ADVISORS, LLC added | 120,986 | $4M | 0.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 114,880 | $4M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.