Lincoln National Corporation
US ˙ NYSE ˙ US5341871094

SecurityLNC / Lincoln National Corporation
InstitutionMorgan Stanley
Latest Disclosed Ownership3,692,842 shares
Latest Disclosed Value $ 131,096,010
Morgan Stanley reports 9.11% decrease in ownership of LNC / Lincoln National Corporation

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 3,692,842 shares of Lincoln National Corporation (US:LNC) valued at $131,095,891 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 4,062,903 shares of Lincoln National Corporation. This represents a change in shares of -9.11% during the quarter. The current value of the position is $125,704,342 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F LINCOLN NATL CORP IND COM 534187109 3,692,842 -370,061 -9.11 131,096 -27.54 0.0079
2026-05-27 2025-12-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 4,062,903 -174,735 -4.12 180,921 5.86 0.0108
2026-02-13 2025-12-31 13F LINCOLN NATL CORP IND COM 534187109 4,062,903 -174,735 180,921 0.0108
2026-05-27 2025-09-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 4,237,638 333,762 8.55 170,904 26.53 0.0103
2025-11-14 2025-09-30 13F LINCOLN NATL CORP IND COM 534187109 4,237,638 333,762 170,904 0.0103
2025-08-15 2025-06-30 13F LINCOLN NATL CORP IND COM 534187109 3,903,876 -9,878 -0.25 135,074 -3.89 0.0088
2025-05-15 2025-03-31 13F LINCOLN NATL CORP IND COM 534187109 3,913,754 22,100 0.57 140,543 13.89 0.0100
2025-05-15 2024-12-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 3,891,654 91,278 2.40 123,404 3.05 0.0086
2025-02-14 2024-12-31 13F LINCOLN NATL CORP IND COM 534187109 3,891,654 91,278 123,404 0.0086
2025-05-14 2024-09-30 13F/A-2 LINCOLN NATL CORP IND COM 534187109 3,800,376 -108,089 -2.77 119,750 -1.48 0.0087
2025-02-14 2024-09-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 3,800,376 -108,089 119,750 0.0087
2024-11-14 2024-09-30 13F LINCOLN NATL CORP IND COM 534187109 3,800,376 -108,089 119,750 0.0010
2025-05-14 2024-06-30 13F/A-2 LINCOLN NATL CORP IND COM 534187109 3,908,465 -484,316 -11.03 121,553 -13.34 0.0094
2024-10-17 2024-06-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 3,908,465 -484,316 121,553 0.0094
2024-08-14 2024-06-30 13F LINCOLN NATL CORP IND COM 534187109 3,908,465 -484,316 121,553 0.0094
2024-10-17 2024-03-31 13F/A-2 LINCOLN NATL CORP IND COM 534187109 4,392,781 144,589 3.40 140,262 22.42 0.0113
2024-08-16 2024-03-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 4,392,781 144,589 140,262 0.0013
2024-05-15 2024-03-31 13F LINCOLN NATL CORP IND COM 534187109 4,392,781 144,589 140,262 0.0113
2024-08-16 2023-12-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 4,248,192 -1,065,228 -20.05 114,574 -12.67 0.0101
2024-02-13 2023-12-31 13F LINCOLN NATL CORP IND COM 534187109 4,248,192 -1,065,228 114,574 0.0101
2023-11-15 2023-09-30 13F LINCOLN NATL CORP IND COM 534187109 5,313,420 585,977 12.40 131,188 7.73 0.0133
2023-08-14 2023-06-30 13F LINCOLN NATL CORP IND COM 534187109 4,727,443 1,023,338 27.63 121,779 46.31 0.0120
2023-05-15 2023-03-31 13F LINCOLN NATL CORP IND COM 534187109 3,704,105 -629,698 -14.53 83,231 -37.48 0.0089
2023-02-14 2022-12-31 13F LINCOLN NATL CORP IND COM 534187109 4,333,803 351,565 8.83 133,134 -23.86 0.0151
2022-11-14 2022-09-30 13F LINCOLN NATL CORP IND COM 534187109 3,982,238 62,642 1.60 174,860 -4.61 0.0238
2022-10-27 2022-06-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 3,919,596 2,170,324 124.07 183,319 60.34 0.0238
2022-08-15 2022-06-30 13F LINCOLN NATL CORP IND COM 534187109 3,919,596 2,170,324 183,319 0.0238
2022-10-27 2022-03-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 1,749,272 98,032 5.94 114,334 1.44 0.0154
2022-05-13 2022-03-31 13F LINCOLN NATL CORP IND COM 534187109 1,749,272 98,032 114,334 0.0154
2022-02-14 2021-12-31 13F LINCOLN NATL CORP IND COM 534187109 1,651,240 -33,831 -2.01 112,714 -2.71 0.0139
2021-11-15 2021-09-30 13F LINCOLN NATL CORP IND COM 534187109 1,685,071 97,264 6.13 115,849 16.11 0.0156
2021-08-23 2021-06-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 1,587,807 10,115 0.64 99,778 1.56 0.0132
2021-08-16 2021-06-30 13F LINCOLN NATL CORP IND COM 534187109 1,587,807 10,115 99,778 0.0027
2021-05-17 2021-03-31 13F LINCOLN NATL CORP IND COM 534187109 1,577,692 -342,126 -17.82 98,244 1.72 0.0144
2021-02-16 2020-12-31 13F LINCOLN NATL CORP IND COM 534187109 1,919,818 256,549 15.42 96,586 85.35 0.0149
2020-11-13 2020-09-30 13F LINCOLN NATL CORP IND COM 534187109 1,663,269 208,224 14.31 52,111 -2.65 0.0101
2020-08-14 2020-06-30 13F LINCOLN NATL CORP IND COM 534187109 1,455,045 173,429 13.53 53,530 58.69 0.0118
2020-05-26 2020-03-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 1,281,616 497,105 63.36 33,732 -27.13 0.0092
2020-05-15 2020-03-31 13F LINCOLN NATL CORP IND COM 534187109 1,281,616 497,105 33,732 2,591.3208
2020-02-14 2019-12-31 13F LINCOLN NATL CORP IND COM 534187109 784,511 -113,403 -12.63 46,293 -14.53 0.0108
2019-11-14 2019-09-30 13F LINCOLN NATL CORP IND COM 534187109 897,914 103,218 12.99 54,161 5.75 0.0143
2019-08-14 2019-06-30 13F LINCOLN NATL CORP IND COM 534187109 794,696 83,979 11.82 51,218 22.77 0.0136
2019-05-15 2019-03-31 13F LINCOLN NATL CORP IND COM 534187109 710,717 -194,803 -21.51 41,719 -10.21 0.0118
2019-02-14 2018-12-31 13F LINCOLN NATL CORP IND COM 534187109 905,520 174,894 23.94 46,462 -6.01 0.0139
2019-04-23 2018-09-30 13F/A-2 LINCOLN NATL CORP IND COM 534187109 730,626 -12,788 -1.72 49,435 6.82 0.0124
2018-11-20 2018-09-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 730,626 0 49,435 0.0124
2018-11-14 2018-09-30 13F LINCOLN NATL CORP IND COM 534187109 730,626 -12,788 49,435
2019-04-23 2018-06-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 743,414 -9,592 -1.27 46,278 -15.88 0.0125
2018-08-14 2018-06-30 13F LINCOLN NATL CORP IND COM 534187109 743,414 -9,592 46,278
2019-04-23 2018-03-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 753,006 -19,422 -2.51 55,014 -7.35 0.0153
2018-05-14 2018-03-31 13F LINCOLN NATL CORP IND COM 534187109 753,006 -19,422 55,014
2019-04-23 2017-12-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 772,428 20,751 2.76 59,377 7.50 0.0163
2018-02-14 2017-12-31 13F LINCOLN NATL CORP IND COM 534187109 772,428 20,751 59,377
2017-11-14 2017-09-30 13F LINCOLN NATL CORP IND COM 534187109 751,677 -534,509 -41.56 55,233 -36.46 0.0165
2017-08-11 2017-06-30 13F LINCOLN NATL CORP IND COM 534187109 1,286,186 -840,831 -39.53 86,921 -37.56 0.0263
2017-05-22 2017-03-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 2,127,017 645,865 43.61 139,212 41.83 0.0428
2017-05-12 2017-03-31 13F LINCOLN NATL CORP IND COM 534187109 2,127,017 139,212
2017-02-22 2016-12-31 13F/A-1 LINCOLN NATL CORP IND COM 534187109 1,481,152 436,398 41.77 98,156 99.98 0.0321
2017-02-13 2016-12-31 13F LINCOLN NATL CORP IND COM 534187109 1,481,152 98,156
2016-11-10 2016-09-30 13F LINCOLN NATL CORP IND COM 534187109 1,044,754 -74,793 -6.68 49,083 13.08 0.0168
2016-08-12 2016-06-30 13F LINCOLN NATL CORP IND COM 534187109 1,119,547 -664,687 -37.25 43,406 -37.94 0.0157
2016-05-12 2016-03-31 13F LINCOLN NATL CORP IND COM 534187109 1,784,234 358,152 25.11 69,942 -2.42 0.0269
2016-02-09 2015-12-31 13F LINCOLN NATL CORP IND COM 534187109 1,426,082 687,459 93.07 71,674 104.47 0.0259
2016-02-08 2015-09-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 738,623 -629,099 -46.00 35,054 -56.72 0.0130
2015-11-09 2015-09-30 13F LINCOLN NATL CORP IND COM 534187109 738,623 35,054
2015-08-12 2015-06-30 13F LINCOLN NATL CORP IND COM 534187109 1,367,722 249,450 22.31 80,995 26.05 0.0281
2015-05-14 2015-03-31 13F LINCOLN NATL CORP IND COM 534187109 1,118,272 322,282 40.49 64,257 39.98 0.0237
2015-02-13 2014-12-31 13F LINCOLN NATL CORP IND COM 534187109 795,990 137,924 20.96 45,904 30.18 0.0168
2014-12-16 2014-09-30 13F/A-1 LINCOLN NATL CORP IND COM 534187109 658,066 657,351 91,937.20 35,261 117,436.67 0.0136
2014-11-14 2014-09-30 13F LINCOLN NATL CORP IND COM 534187109 658,066 35,261
2014-05-13 2014-03-31 13F LINCOLN NATL CORP IND *W EXP 07/10/201 534187117 715 0 0.00 30 0.00 0.0000
2014-05-13 2014-03-31 13F LINCOLN NATL CORP IND COM 534187109 736,085 -291,785 37,298 0.0156
2014-02-13 2013-12-31 13F LINCOLN NATL CORP IND *W EXP 07/10/201 534187117 715 -970,642 -99.93 30 -99.93 0.0000
2014-02-13 2013-12-31 13F LINCOLN NATL CORP IND COM 534187109 1,027,870 56,513 53,059 0.0226
2013-11-13 2013-09-30 13F LINCOLN NATL CORP IND COM COM 534187109 971,357 229 0.02 40,786 15.16 0.0193
2013-08-08 2013-06-30 13F LINCOLN NATL CORP IND COM COM 534187109 971,128 971,128 35,416 0.0179
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.