13F-HR: Lincoln National Corp Q3 2025 Holdings Report

Lincoln National Corp's Q3 2025 13F-HR report details $3.51 billion in managed assets, primarily across 20 Vanguard and Schwab ETF holdings.

Summary

• Lincoln National Corp, along with its included manager Lincoln Financial Investments Corp, filed a 13F HOLDINGS REPORT for the quarter ended September 30, 2025.
• The total market value of the reported holdings is $3,506,686,851.
• The report lists 20 distinct equity holdings, all of which are Exchange Traded Funds (ETFs).
• The portfolio is heavily concentrated in Vanguard and iShares ETFs, covering a broad range of asset classes including U.S. and international equities, emerging markets, and various bond segments (e.g., US TIPS, intermediate, long, and short-term bonds, mortgage-backed securities).

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of institutional investment holdings and does not contain performance or forward-looking statements that would indicate a positive or negative sentiment.

Positives

• This filing is a routine disclosure of institutional investment holdings and does not contain information typically categorized as 'positives' related to the reporting entity's performance or strategic achievements.

Negatives

• This filing is a routine disclosure of institutional investment holdings and does not contain information typically categorized as 'negatives' related to the reporting entity's performance or strategic challenges.

Risks

• The filing itself, as a 13F-HR, does not detail specific operational or financial risks of Lincoln National Corp. However, the disclosed investment holdings are subject to general market risks, including interest rate risk for bond ETFs and equity market volatility for stock ETFs.

Future Outlook

This 13F filing is a historical disclosure of investment holdings and does not contain forward-looking statements or guidance from Lincoln National Corp.

Management Comments

• No specific strategic or performance-related comments from management are included in this routine disclosure. The report was signed by Paul Chryssikos, Senior Vice President and Chief Legal Officer, affirming its accuracy and completeness.

Industry Context

This is a routine quarterly disclosure required for institutional investment managers. It provides transparency into their equity holdings, which can be analyzed by other market participants to understand investment trends or strategies of large funds. The portfolio's composition, primarily consisting of diversified ETFs, indicates a strategy focused on broad market exposure across various asset classes.

Comparison to Industry Standards

• As a standard 13F disclosure, the filing itself does not provide data for direct comparison to specific industry benchmarks or competitors' performance.
• The portfolio's composition, heavily weighted towards diversified ETFs, aligns with common strategies for institutional asset managers seeking broad market exposure and cost-efficiency.

Stakeholder Impact

• This filing provides transparency to shareholders and the broader market regarding the investment strategy and holdings of Lincoln National Corp's managed assets, allowing for analysis of portfolio composition and asset allocation.

Next Steps

• No specific future actions, events, or milestones are mentioned in this routine disclosure of past holdings.

Key Dates

Keywords

Lincoln National Corp, 13F-HR, Holdings Report, Institutional Investment, ETF, Vanguard, iShares, Schwab, Equity Holdings, Asset Management, Q3 2025