LNCNYSELife InsuranceFiscal year ends December 31Also trades as LNC.PD
LINCOLN NATIONAL CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$39.28−0.55 (-1.38%)
Close on Oct 19, 2026
- Market cap
- $7.72B
- P/E (TTM)
- 3.4
- Dividend yield
- 4.58%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
165M
Shares held, 13F filers
Institutional holders
616
82 new, 71 sold out
Net institutional buying
8M
In Q2 2026
Insider trades, 12 months
2 buys · 8 sales
Net sold $3.59M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Capital Management | 9,580,622 | 5.04% | 13G (passive) | Mar 31, 2026 |
| Bain Capital Prairie, LLC | 18,759,497 | 9.80% | 13D (active) amendment | Aug 10, 2026 |
| BlackRock, Inc. | 1,236 | 6.20% | 13G (passive) | Jun 30, 2026 |
| Vanguard Portfolio Management | 10,473,383 | 5.50% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of LNC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Bain Capital Prairie, LLC | 18,759,497 | – | $663.15M | – | 100.00% |
| BlackRock, Inc. | 18,561,962 | – | $656.17M | +63,858 | 0.01% |
| Vanguard Portfolio Management LLC | 10,427,206 | – | $368.60M | +17,552 | 0.02% |
| Dimensional Fund Advisors LP | 8,571,956 | – | $303.04M | +816,450 | 0.05% |
| Vanguard Capital Management LLC | 8,347,042 | – | $295.07M | +76,141 | 0.01% |
| Massachusetts Financial Services Co /Ma/ | 6,373,067 | – | $226.61M | +491,735 | 0.07% |
| State Street Corp | 6,106,302 | – | $215.86M | +215,007 | 0.01% |
| Price T Rowe Associates Inc /Md/ | 4,993,803 | – | $176.53K | +565,854 | 0.02% |
| Jennison Associates LLC | 3,772,433 | – | $133.36M | −50,719 | 0.08% |
| Morgan Stanley | 3,632,194 | – | $128.40M | −60,648 | 0.01% |
| Geode Capital Management, LLC | 3,193,783 | – | $112.93M | +34,764 | 0.01% |
| Lsv Asset Management | 2,540,296 | – | $89.80K | −19,800 | 0.16% |
| Norges Bank | 2,290,874 | – | $80.98M | New | 0.01% |
| Charles Schwab Investment Management Inc | 2,193,476 | – | $77.54M | +57,662 | 0.01% |
| Principal Financial Group Inc | 2,138,603 | – | $75.60M | −141,973 | 0.04% |
| Goldman Sachs Group Inc | 2,107,181 | – | $74.49M | +321,774 | 0.01% |
| Arrowstreet Capital, Limited Partnership | 1,922,320 | – | $67.95M | +1,239,280 | 0.03% |
| Northern Trust Corp | 1,896,611 | – | $67.05M | +44,079 | 0.01% |
| Jupiter Asset Management Ltd | 1,869,735 | – | $66.10M | +73,064 | 0.33% |
| Bank of New York Mellon Corp | 1,785,335 | – | $63.11M | +6,441 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 616 | 165M | 82 / 240 | 185 / 71 | 16M | 8M |
| Q1 2026 | 616 | 157M | 86 / 225 | 190 / 89 | 34M | 17M |
| Q4 2025 | 627 | 159M | 100 / 213 | 184 / 64 | 35M | 10M |
| Q3 2025 | 605 | 135M | 89 / 192 | 195 / 42 | 16M | 15M |
| Q2 2025 | 567 | 134M | 68 / 200 | 186 / 68 | 20M | 15M |
| Q1 2025 | 570 | 129M | 76 / 200 | 185 / 58 | 12M | 9M |
| Q4 2024 | 558 | 126M | 78 / 164 | 205 / 45 | 11M | 11M |
| Q3 2024 | 532 | 126M | 50 / 186 | 188 / 50 | 25M | 9M |
| Q2 2024 | 536 | 127M | 82 / 178 | 180 / 43 | 16M | 22M |
| Q1 2024 | 503 | 133M | 68 / 160 | 174 / 67 | 18M | 13M |
| Q4 2023 | 506 | 128M | 100 / 147 | 192 / 65 | 19M | 16M |
| Q3 2023 | 476 | 125M | 62 / 167 | 158 / 78 | 23M | 22M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of LNC | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 8,547,054 | – | $302.14M | 0.27% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 6,062,558 | – | $214.31M | 0.01% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 4,386,827 | – | $155.07M | 0.08% | Jun 30, 2026 |
| iShares Select Dividend ETF | 2,877,045 | – | $131.22M | 0.56% | Jul 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 2,777,896 | – | $98.20M | 0.14% | Jun 30, 2026 |
| MFS Mid Cap Value Fund | 2,733,359 | – | $96.62M | 0.56% | Jun 30, 2026 |
| T. Rowe Price Mid-Cap Value Fund, Inc. | 2,260,817 | – | $79.92M | 0.49% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,951,143 | – | $68.97M | 0.07% | Jun 30, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 1,560,018 | – | $55.15M | 0.33% | Jun 30, 2026 |
| iShares S&P Small-Cap 600 Value ETF | 1,464,881 | – | $51.78M | 0.65% | Jun 30, 2026 |
| U.S. Small Cap Value Portfolio | 1,337,577 | – | $61.01M | 0.31% | Jul 31, 2026 |
| U.S. Targeted Value Portfolio | 1,171,516 | – | $53.43M | 0.32% | Jul 31, 2026 |
| Vanguard Tax-Managed Small-Cap Fund | 1,123,728 | – | $39.72M | 0.35% | Jun 30, 2026 |
| PGIM Jennison Small Company Fund | 1,041,634 | – | $36.82M | 1.06% | Jun 30, 2026 |
| Dimensional U.S. Targeted Value ETF | 999,531 | – | $45.59M | 0.31% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Ellen Cooper | Chairman, President & CEO, Director | 722,754 | Feb 23, 2026 |
| Curtis W. Chesney | EVP, President of Annuities | 22,621 | Sep 9, 2026 |
| Adam M. Cohen | Interim CFO & CAO | 71,375 | Aug 26, 2026 |
| Sean Woodroffe | EVP, Ch Ppl Comms Ent Srvc Off | 119,947 | Aug 18, 2026 |
| Christopher M. Neczypor | EVP & CFO | 194,705 | Aug 11, 2026 |
| CraigT T. Beazer | EVP & General Counsel | 103,906 | Jun 8, 2026 |
| Darrel W. Tedrow | EVP, President Life Ins & RSS | 34,014 | Jun 4, 2026 |
| Paul P. Spurr | EVP, CRO & CA | 51,743 | Jun 4, 2026 |
| Andrew Rallis | EVP, Chief Risk Officer | 162,530 | Jun 3, 2026 |
| John Christopher Kennedy | EVP, Chief Dist. & Brand Off | 138,615 | May 26, 2026 |
| Jennifer Charters | EVP, Chief Information Officer | 37,796 | Mar 16, 2026 |
| Brian Kroll | EVP, Head of Life & Annuities | 70,536 | Feb 23, 2026 |
| James Waltman Reid | EVP, Pres. Workplace Solutions | 140,680 | Feb 23, 2026 |
| John G. Morriss | EVP, Chief Investment Officer | 27,614 | Feb 23, 2026 |
| Nilanjan Adhya | EVP Chf AI Data Analytics Off | 19,951 | Feb 23, 2026 |
| Jayson R. Bronchetti | EVP, Chief Investment Officer | 87,349 | May 28, 2025 |
| Gary C. Kelly | Director | 3,000 | Aug 14, 2026 |
| Deirdre P. Connelly | Director | 4,000 | Jul 2, 2026 |
| Eric G. Johnson | Director | 9,254 | Jul 2, 2026 |
| William H. Dr Cunningham | Director | 11,391 | Jul 2, 2026 |
| Reginald E. Davis | Director | 0 | Jul 2, 2026 |
| M. Leanne Lachman | Director | 3,000 | Jul 2, 2026 |
| Dale LeFebvre | Director | 0 | Jul 2, 2026 |
| James T. Morris | Director | 0 | Jul 2, 2026 |
| Owen Ryan | Director | 12,000 | Jul 2, 2026 |
| Lynn M. Utter | Director | 0 | Apr 2, 2025 |
| Janet Liang | Director | 0 | Jan 2, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Adam M. Cohen Interim CFO & CAO | Aug 24, 2026 | Award | +23,597 | – | – | 71,375 |
| Adam M. Cohen Interim CFO & CAO | Aug 24, 2026 | Award | +7,866 | – | – | 47,778 |
| Curtis W. Chesney EVP, President of Annuities | Aug 17, 2026 | Gift | −637 | – | – | 21,984 |
| Sean Woodroffe EVP, Ch Ppl Comms Ent Srvc Off | Aug 17, 2026 | Sale | −11,000 | $45.28 | $498.08K | 119,947 |
| Gary C. Kelly Director | Aug 12, 2026 | Sale | −15,006.55 | $26.50 | $397.67K | 0 |
| Christopher M. Neczypor EVP & CFO | Aug 9, 2026 | Tax withholding | −2,464 | $46.03 | $113.42K | 194,705 |
| CraigT T. Beazer EVP & General Counsel | Jun 5, 2026 | Sale | −30,000 | $34.45 | $1.03M | 103,906 |
| Andrew Rallis EVP, Chief Risk Officer | Jun 1, 2026 | Tax withholding | −20,052 | $34.63 | $694.40K | 162,530 |
| Sean Woodroffe EVP, Ch Ppl Comms Ent Srvc Off | Jun 1, 2026 | Sale | −25,000 | $34.75 | $868.75K | 130,189 |
| Sean Woodroffe EVP, Ch Ppl Comms Ent Srvc Off | May 24, 2026 | Tax withholding | −45,150 | $36.03 | $1.63M | 155,189 |
| Andrew Rallis EVP, Chief Risk Officer | May 24, 2026 | Tax withholding | −32,281 | $36.03 | $1.16M | 182,582 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | May 24, 2026 | Tax withholding | −23,801 | $36.03 | $857.55K | 125,557 |
| Jennifer Charters EVP, Chief Information Officer | Mar 13, 2026 | Buy | +300 | $32.61 | $9.78K | 37,796 |
| Sean Woodroffe EVP, Ch Ppl Comms Ent Srvc Off | Mar 9, 2026 | Sale | −8,000 | $32.74 | $261.92K | 198,159 |
| Sean Woodroffe EVP, Ch Ppl Comms Ent Srvc Off | Mar 2, 2026 | Sale | −10,000 | $34.46 | $344.60K | 206,159 |
| John G. Morriss EVP, Chief Investment Officer | Feb 19, 2026 | Award | +13,716 | – | – | 27,614 |
| James Waltman Reid EVP, Pres. Workplace Solutions | Feb 19, 2026 | Tax withholding | −20,697 | $40.10 | $829.95K | 140,680 |
| James Waltman Reid EVP, Pres. Workplace Solutions | Feb 19, 2026 | Award | +42,810 | – | – | 161,377 |
| James Waltman Reid EVP, Pres. Workplace Solutions | Feb 19, 2026 | Award | +37,158 | – | – | 177,838 |
| Adam M. Cohen CAO | Feb 19, 2026 | Tax withholding | −2,272 | $40.10 | $91.11K | 29,922 |
| Adam M. Cohen CAO | Feb 19, 2026 | Award | +9,337 | – | – | 39,259 |
| Adam M. Cohen CAO | Feb 19, 2026 | Award | +8,266 | – | – | 32,194 |
| Andrew Rallis EVP, Chief Risk Officer | Feb 19, 2026 | Award | +30,549 | – | – | 212,525 |
| Nilanjan Adhya EVP Chf AI Data Analytics Off | Feb 19, 2026 | Award | +19,951 | – | – | 19,951 |
| CraigT T. Beazer EVP & General Counsel | Feb 19, 2026 | Tax withholding | −11,413 | $40.10 | $457.66K | 111,691 |
| CraigT T. Beazer EVP & General Counsel | Feb 19, 2026 | Award | +30,142 | – | – | 123,104 |
| CraigT T. Beazer EVP & General Counsel | Feb 19, 2026 | Award | +21,198 | – | – | 132,889 |
| Jennifer Charters EVP, Chief Information Officer | Feb 19, 2026 | Award | +18,704 | – | – | 37,496 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Feb 19, 2026 | Award | +16,085 | – | – | 147,897 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Feb 19, 2026 | Tax withholding | −7,353 | $40.10 | $294.86K | 131,812 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Feb 19, 2026 | Award | +22,026 | – | – | 139,165 |
| Sean Woodroffe EVP, Ch Ppl Culture Comms Off | Feb 19, 2026 | Award | +22,444 | – | – | 216,159 |
| Sean Woodroffe EVP, Ch Ppl Culture Comms Off | Feb 19, 2026 | Tax withholding | −19,037 | $40.10 | $763.38K | 193,715 |
| Sean Woodroffe EVP, Ch Ppl Culture Comms Off | Feb 19, 2026 | Award | +53,368 | – | – | 212,752 |
| Christopher M. Neczypor EVP & CFO | Feb 19, 2026 | Award | +41,148 | – | – | 194,082 |
| Christopher M. Neczypor EVP & CFO | Feb 19, 2026 | Award | +48,925 | – | – | 172,904 |
| Christopher M. Neczypor EVP & CFO | Feb 19, 2026 | Tax withholding | −19,970 | $40.10 | $800.80K | 152,934 |
| Ellen Cooper Chairman, President & CEO, Director | Feb 19, 2026 | Award | +189,295 | – | – | 722,754 |
| Ellen Cooper Chairman, President & CEO, Director | Feb 19, 2026 | Tax withholding | −80,413 | $40.10 | $3.22M | 642,341 |
| Ellen Cooper Chairman, President & CEO, Director | Feb 19, 2026 | Award | +28,992 | – | – | 671,333 |
| Ellen Cooper Chairman, President & CEO, Director | Feb 19, 2026 | Award | +109,227 | – | – | 768,244 |
| Ellen Cooper Chairman, President & CEO, Director | Feb 19, 2026 | Tax withholding | −12,316 | $40.10 | $493.87K | 659,017 |
| Brian Kroll EVP, Head of Life & Annuities | Feb 19, 2026 | Award | +20,574 | – | – | 70,536 |
| James Waltman Reid EVP Workplace Solutions | Feb 18, 2026 | Sale | −3,050 | $41.81 | $127.52K | 118,567 |
| Ellen Cooper President & CEO, Director | Feb 15, 2026 | Tax withholding | −18,669 | $40.88 | $763.19K | 533,459 |
| James Waltman Reid EVP Workplace Solutions | Feb 15, 2026 | Tax withholding | −7,338 | $40.88 | $299.98K | 121,617 |
| Christopher M. Neczypor EVP & CFO | Feb 15, 2026 | Tax withholding | −5,162 | $40.88 | $211.02K | 123,979 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Feb 15, 2026 | Tax withholding | −3,069 | $40.88 | $125.46K | 117,139 |
| Adam M. Cohen CAO | Feb 15, 2026 | Tax withholding | −1,260 | $40.88 | $51.51K | 23,928 |
| CraigT T. Beazer EVP & General Counsel | Feb 15, 2026 | Tax withholding | −4,195 | $40.88 | $171.49K | 92,962 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Dec 10, 2025 | Sale | −3,519 | $44.15 | $155.36K | 118,985 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Dec 5, 2025 | Tax withholding | −1,555 | $42.74 | $66.46K | 122,504 |
| Adam M. Cohen CAO | Dec 5, 2025 | Tax withholding | −208 | $42.74 | $8.89K | 24,930 |
| CraigT T. Beazer EVP & General Counsel | Dec 5, 2025 | Tax withholding | −1,151 | $42.74 | $49.19K | 96,332 |
| Christopher M. Neczypor EVP & CFO | Dec 5, 2025 | Tax withholding | −1,362 | $42.74 | $58.21K | 127,896 |
| Ellen Cooper Chairman, President & CEO, Director | Nov 26, 2025 | Option exercise | +38,891 | $35.50 | $1.38M | 583,645 |
| Ellen Cooper Chairman, President & CEO, Director | Nov 26, 2025 | Tax withholding | −35,726 | $41.35 | $1.48M | 547,919 |
| John Christopher Kennedy EVP, Chief Dist. & Brand Off | Nov 24, 2025 | Tax withholding | −1,075 | $40.34 | $43.37K | 124,059 |
| CraigT T. Beazer EVP & General Counsel | Nov 24, 2025 | Tax withholding | −1,331 | $40.34 | $53.69K | 97,484 |
| Ellen Cooper Chairman, President and CEO, Director | Nov 24, 2025 | Tax withholding | −4,401 | $40.34 | $177.54K | 544,754 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Neczypor Christopher Officer | Sep 3, 2026 | 56,220 | $2.54M | Sep 3, 2026 | Option |
| Neczypor Christopher Officer | Aug 18, 2026 | 53,681 | $2.42M | Aug 18, 2026 | Option Exercise |
| Woodroffe Sean Officer | Aug 17, 2026 | 11,000 | $500.06K | Aug 17, 2026 | Executive Compensation |
| Gary C. Kelly Director | Aug 12, 2026 | 15,006 | $398.26K | Aug 12, 2026 | Open Market |
| Gary C. Kelly Director | Aug 12, 2026 | 15,006 | $398.26K | Aug 12, 2026 | Payment for services rendered |
| Beazer Craig Officer | Jun 5, 2026 | 30,000 | $1.03M | Jun 5, 2026 | RSU Vesting |
| Woodroffe Sean Officer | Jun 1, 2026 | 25,000 | $882.25K | Jun 1, 2026 | Executive Compensation |
| Woodroffe Sean Officer | Mar 9, 2026 | 8,000 | $261.93K | Mar 9, 2026 | RSU Vesting |
| Woodroffe Sean Officer | Mar 2, 2026 | 10,000 | $344.59K | Mar 2, 2026 | RSU Vesting |
| Reid James Officer | Feb 18, 2026 | 3,050 | $127.53K | Feb 18, 2026 | RSU Vesting |
| C. Kennedy John Officer | Dec 10, 2025 | 3,519 | $155.36K | Dec 10, 2025 | RSU Vesting |
| Bronchetti Jayson Officer | Dec 8, 2025 | 37,568 | $1.60M | Dec 8, 2025 | Option Exercise |
| Bronchetti Jayson Officer | Nov 3, 2025 | 5,000 | $204.26K | Nov 3, 2025 | RSU Vesting |
| Kroll Brian Officer | Aug 15, 2025 | 6,362 | $260.02K | Aug 15, 2025 | ESOP Exercise |
| Nigel Woodroffe Sean Officer | Aug 15, 2025 | 16,164 | $661.04K | Aug 15, 2025 | Option Exercise |