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Lincoln National
LNC

626 hedge funds and large institutions have $7.03B invested in Lincoln National in 2025 Q4 according to their latest regulatory filings, with 100 funds opening new positions, 214 increasing their positions, 183 reducing their positions, and 64 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more first-time investments, than exits

New positions opened: 100 | Existing positions closed: 64

30% more capital invested

Capital invested by funds: $5.41B → $7.03B (+$1.62B)

17% more repeat investments, than reductions

Existing positions increased: 214 | Existing positions reduced: 183

12.38% more ownership

Funds ownership: 70.82% → 83.2% (+12%)

4% more funds holding

Funds holding: 604 → 626 (+22)

0% more funds holding in top 10

Funds holding in top 10: 8 → 8 (0)

24% less call options, than puts

Call options by funds: $101M | Put options by funds: $133M

Holders
626
Holders Change
+22
Holders Change %
+3.64%
% of All Funds
7.61%
Holding in Top 10
8
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.1%
New
100
Increased
214
Reduced
183
Closed
64
Calls
$101M
Puts
$133M
Net Calls
-$31.9M
Net Calls Change
-$27.9M

Top Buyers

1
Jennison Associates
Jennison Associates
New York
+$56.7M
2
Balyasny Asset Management
Balyasny Asset Management
Illinois
+$38.4M
3
Allianz Asset Management
Allianz Asset Management
Germany
+$34.6M
4
JAM
Jupiter Asset Management
United Kingdom
+$29.8M
5
Millennium Management
Millennium Management
New York
+$21.7M

Top Sellers

1
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$86.5M
2
Barclays
Barclays
United Kingdom
-$39.4M
3
Citadel Advisors
Citadel Advisors
Florida
-$27.8M
4
AU
Algebris (UK)
United Kingdom
-$21.2M
5
Squarepoint
Squarepoint
New York
-$12.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$879M -$6.77M -162,557 -0.8%
BCP
2
Bain Capital Prairie
Massachusetts
$835M +$781M +18,759,497 New
BlackRock
3
BlackRock
New York
$826M +$5.22M +125,293 +0.7%
Dimensional Fund Advisors
4
Dimensional Fund Advisors
Texas
$278M +$20.9M +502,600 +9%
State Street
5
State Street
Massachusetts
$263M -$3.4M -81,628 -1%
Massachusetts Financial Services
6
Massachusetts Financial Services
Massachusetts
$262M -$2.68M -64,325 -1%
T. Rowe Price Associates
7
T. Rowe Price Associates
Maryland
$232M +$166K +3,975 +0.1%
First Trust Advisors
8
First Trust Advisors
Illinois
$213M -$3.98M -95,492 -2%
Morgan Stanley
9
Morgan Stanley
New York
$181M -$7.28M -174,735 -4%
Jennison Associates
10
Jennison Associates
New York
$164M +$56.7M +1,361,835 +59%
Geode Capital Management
11
Geode Capital Management
Massachusetts
$132M +$618K +14,842 +0.5%
LSV Asset Management
12
LSV Asset Management
Illinois
$115M -$1.74M -41,803 -2%
Principal Financial Group
13
Principal Financial Group
Iowa
$103M -$847K -20,330 -0.9%
Norges Bank
14
Norges Bank
Norway
$101M +$94.6M +2,270,699 New
Charles Schwab
15
Charles Schwab
California
$92.5M +$448K +10,768 +0.5%
Balyasny Asset Management
16
Balyasny Asset Management
Illinois
$86.5M +$38.4M +921,506 +90%
Northern Trust
17
Northern Trust
Illinois
$86.5M -$3.27M -78,454 -4%
Bank of New York Mellon
18
Bank of New York Mellon
New York
$80.1M -$4.36M -104,706 -6%
Goldman Sachs
19
Goldman Sachs
New York
$75.7M +$5.19M +124,527 +8%
UBS Group
20
UBS Group
Switzerland
$69.4M -$8.3M -199,378 -11%
Invesco
21
Invesco
Georgia
$61.5M -$1.68M -40,328 -3%
Bank of America
22
Bank of America
North Carolina
$60.8M +$7.11M +170,691 +14%
HSBC Holdings
23
HSBC Holdings
United Kingdom
$60.5M +$5.56M +133,388 +11%
AQR Capital Management
24
AQR Capital Management
Connecticut
$54.1M +$16.5M +395,171 +48%
Millennium Management
25
Millennium Management
New York
$48M +$21.7M +520,816 +93%
1
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LNC Hedge Fund Activity: Q4 2025 in Review

626 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Lincoln National (LNC) for Q4 2025, worth a combined $7.03B — up 30% from $5.41B a quarter earlier.

Buyers outnumbered sellers: 100 funds opened new LNC positions and 64 closed out — a net gain of 36 holders — while 214 added to existing stakes and 183 trimmed.

The largest buyer was Jennison Associates, adding an estimated $56.7M. The largest seller was Royal Bank of Canada, cutting an estimated $86.5M.

  • 626 institutional investors held Lincoln National (LNC) as of Q4 2025, up from 604 in Q3 2025.
  • Funds reported $7.03B of Lincoln National stock for Q4 2025, up 30% quarter-over-quarter.
  • 100 funds opened new Lincoln National positions in Q4 2025 and 64 closed out, a net change of +36 holders.
  • The largest Lincoln National buyer in Q4 2025 was Jennison Associates, an estimated $56.7M added.
  • The largest Lincoln National seller in Q4 2025 was Royal Bank of Canada, an estimated $86.5M sold.

Based on aggregated 13F filings for Q4 2025.