Lincoln Capital LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 11, 2025), Lincoln Capital LLC reported 123 stock positions worth $519.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 9.0% of the portfolio, followed by Berkshire Hathaway Class A (BRK.A, 7.4%) and Markel (MKL, 6.8%). Compared with Q1 2025, it opened 6 new positions, added to 32 and reduced 47. The biggest buy was Microsoft (MSFT, shares +10%) and the biggest sale Costco Wholesale (COST, shares −1%).

Most Recent 13F
Q2 2026
Location
LINCOLN, NE
CIK
0001633862
Portfolio Value
$519.7M (Q2 2025)
SEC Filing
0001085146-25-003764 ↗ filed Jul 11, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $449.2M Q1 2024 Q2 2024: $448.1M Q2 2024 Q3 2024: $472.8M Q3 2024 Q4 2024: $475.7M Q4 2024 Q1 2025: $478.9M Q1 2025 Q2 2025: $519.7M $519.7M Q2 2025 Q3 2025: $533.8M Q3 2025 Q4 2025: $551.8M Q4 2025 Q1 2026: $527.8M Q1 2026 Q2 2026: $562.0M Q2 2026

Holdings 123 stocks · $519.7M
BRK.B Berkshire Hathaway Inc. Class B 8.96% 95,842 $46.6M Add +0.2%
BRK.A Berkshire Hathaway Inc. Class A 7.43% 53 $38.6M No change
MKL Markel Group Inc. 6.77% 17,624 $35.2M Add +0.1%
COST Costco Wholesale Corp. 6.74% 35,405 $35.0M Reduce -0.6%
MA Mastercard Inc. Class A 6.68% 61,780 $34.7M Reduce -0.5%
GOOGL Alphabet Inc. Class A 5.41% 159,491 $28.1M Reduce -0.4%
MSFT Microsoft Corp. 4.20% 43,867 $21.8M Add +10.1%
AMZN Amazon.com Inc. 3.43% 81,345 $17.8M Reduce -1.0%
DHR Danaher Corp. 3.33% 87,638 $17.3M Add +1.1%
SBUX Starbucks Corp. 2.91% 164,909 $15.1M Reduce -0.6%
CARR Carrier Global Corp. 2.28% 161,910 $11.9M Add +1.6%
AAPL Apple Inc. 2.23% 56,460 $11.6M Reduce -0.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 2.02% 84,763 $10.5M Add +0.6%
MCD McDonald's Corp. 1.82% 32,416 $9.5M Reduce -1.4%
JPM JPMorgan Chase & Co. 1.63% 29,189 $8.5M Reduce -0.6%
ROP Roper Technologies Inc. 1.46% 13,424 $7.6M Reduce -0.1%
OTIS Otis Worldwide Corp. 1.40% 73,689 $7.3M Add +0.5%
MAR Marriott International Class A 1.39% 26,524 $7.2M Reduce 0.0%
LIN Linde PLC 1.24% 13,729 $6.4M Reduce -0.7%
HGTY Hagerty Inc. Class A 1.18% 607,309 $6.1M Add +9.4%
AXP American Express Co. 1.18% 19,174 $6.1M Reduce -1.8%
MCO Moody's Corp. 1.15% 11,894 $6.0M No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.10% 62,716 $5.7M Reduce -0.1%
KO The Coca-Cola Co. 1.10% 80,479 $5.7M Reduce -0.1%
SCHW Schwab (charles) Corp. 1.08% 61,560 $5.6M Reduce -0.1%
UNP Union Pacific Corp. 0.95% 21,435 $4.9M Reduce -1.3%
DEO Diageo PLC-Sponsored ADR 0.94% 48,407 $4.9M Reduce -4.1%
FWONK Liberty Media Corp. Class C 0.83% 41,382 $4.3M Reduce -0.9%
CPRT Copart Inc. 0.78% 82,860 $4.1M Add +0.0%
TRV The Travelers Cos Inc. 0.75% 14,532 $3.9M Reduce -0.6%
JNJ Johnson & Johnson 0.72% 24,608 $3.8M Reduce -1.5%
OXY Occidental Petroleum Corp. 0.58% 71,638 $3.0M Reduce -0.6%
IVV iShares Core S&P 500 ETF 0.54% 4,486 $2.8M Add +0.2%
CB Chubb Ltd. 0.53% 9,446 $2.7M Add +35.7%
BLK BlackRock Inc. 0.53% 2,605 $2.7M Reduce -0.9%
VLTO Veralto Corp. 0.47% 24,146 $2.4M Add +0.6%
FAST Fastenal Co. 0.47% 57,966 $2.4M No change
BDX Becton Dickinson and Co. 0.46% 13,733 $2.4M Reduce -0.6%
CGGR Cap Group Growth Equity 0.45% 57,854 $2.4M Add +2.9%
APH Amphenol Corp. Class A 0.45% 23,810 $2.4M No change
GOOG Alphabet Inc. Class C 0.45% 13,149 $2.3M Reduce -4.8%
DE Deere & Co. 0.44% 4,464 $2.3M Add +0.0%
LPX Louisiana-Pacific Corp. 0.42% 25,099 $2.2M Reduce -0.7%
WMT Walmart Inc. 0.41% 21,958 $2.1M Add +0.0%
PEP Pepsico Inc. 0.41% 15,938 $2.1M Reduce -0.5%
ECL Ecolab Inc. 0.37% 7,091 $1.9M Reduce -0.7%
CSGP Costar Group Inc. 0.33% 21,290 $1.7M Add +0.1%
IDXX Idexx Laboratories Inc. 0.31% 3,030 $1.6M Add +0.1%
ESAB Esab Corp. 0.29% 12,666 $1.5M No change
IEFA iShares Core MSCI Eafe ETF 0.29% 18,141 $1.5M Add +0.0%
VUG Vanguard Mrngstar GR ETF-Sui 0.29% 3,387 $1.5M Add +0.4%
CINF Cincinnati Financial Corp. 0.28% 9,806 $1.5M No change
MSCI MSCI Inc. 0.28% 2,507 $1.4M No change
HD Home Depot Inc. 0.25% 3,585 $1.3M Reduce -0.9%
BAM Brookfield Asset Mgmt-A 0.25% 23,151 $1.3M No change
IJH iShares Core S&P Midcap ETF 0.24% 20,072 $1.2M Reduce -0.4%
SPGI S&P Global Inc. 0.24% 2,356 $1.2M No change
IJR iShares Core S&P Small-Cap E 0.21% 10,071 $1.1M Reduce -0.4%
USMV iShares MSCI USA Min Vol Fac 0.19% 10,650 $1000K Reduce -0.0%
PG The Procter & Gamble Co. 0.19% 6,251 $996K Reduce -1.6%
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.19% 26,742 $988K Add +7.7%
NVDA Nvidia Corp. 0.18% 6,037 $954K Add +9.0%
WCN Waste Connections Inc. 0.18% 5,062 $945K No change
TSLA Tesla Inc. 0.18% 2,911 $925K Add +67.6%
CAT Caterpillar Inc. 0.17% 2,334 $905K New
CL Colgate-Palmolive Co. 0.17% 9,537 $867K Reduce -0.9%
BN Brookfield Corp. 0.16% 13,457 $832K No change
VB Vanguard Most SM-Cap ETF-Usd 0.16% 3,485 $826K Add +6.9%
META Meta Platforms Inc. Class A 0.16% 1,109 $819K Add +4.8%
AMAT Applied Materials Inc. 0.16% 4,439 $813K Reduce -0.5%
CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT 0.16% 29,912 $812K No change
XOM Exxon Mobil Corp. 0.15% 7,270 $784K Reduce -13.4%
NKE Nike Inc. Class B 0.15% 10,962 $779K No change
ACN Accenture PLC Class A 0.15% 2,580 $771K No change
V Visa Inc. Class A 0.15% 2,130 $756K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.14% 4,174 $738K Reduce -0.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.14% 1,144 $707K No change
SYK Stryker Corp. 0.14% 1,780 $704K No change
JBTM JBT Marel Corp. 0.13% 5,646 $679K No change
MTD Mettler-Toledo International 0.13% 575 $675K No change
CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT 0.13% 20,786 $665K Add +4.1%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.12% 16,405 $648K Reduce -2.7%
ADP Automatic Data Processing 0.12% 2,084 $643K No change
DGRO iShares Core Dividend Growth 0.12% 9,892 $633K Add +1.6%
UPS United Parcel Service Class B 0.12% 6,093 $615K Reduce -0.3%
AMT American Tower Corp. 0.11% 2,700 $597K No change
XYL Xylem Inc. 0.11% 4,488 $581K No change
VWO Vanguard Ftse Emerging Marke 0.11% 11,573 $572K Add +2.6%
WFC Wells Fargo & Co. 0.11% 7,014 $562K Add +0.0%
PSX Phillips 66 0.10% 4,483 $535K Reduce -2.7%
CGDG Cap Group Dividend Growers filed as CAPITAL GROUP DIVIDEND GROWE 0.10% 15,331 $516K Add +7.2%
VEA Vanguard Ftse Developed ETF 0.09% 8,567 $488K Reduce -1.3%
HSY The Hershey Co. 0.09% 2,912 $483K No change
HSIC Henry Schein Inc. 0.09% 6,500 $475K No change
ORCL Oracle Corp. 0.08% 2,011 $440K No change
RTX RTX Corp. 0.08% 2,866 $419K Reduce -1.9%
ETN Eaton Corp. PLC 0.08% 1,162 $415K No change
CGIE Cap Group Intl Equity filed as CAPITAL GROUP INTERNATIONAL 0.08% 12,127 $399K Add +4.3%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.07% 5,236 $385K New
VT Vanguard Tot World STK ETF 0.07% 2,885 $371K Add +7.2%
VOO Vanguard S&P 500 ETF 0.07% 622 $353K Add +1.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 1,187 $350K Reduce -9.5%
MKC McCormick & Co.-Non VTG SHRS 0.07% 4,580 $347K No change
UL Unilever PLC 0.07% 5,542 $339K Reduce -6.1%
GLD SPDR Gold Shares 0.06% 1,015 $309K No change
USB US Bancorp 0.06% 6,620 $300K No change
NTRS Northern Trust Corp. 0.06% 2,328 $295K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 6,161 $291K No change
PM Philip Morris International 0.06% 1,570 $286K Reduce -18.2%
CSCO Cisco Systems Inc. 0.05% 4,060 $282K Reduce -18.1%
DFAC Dimensional US Core Equity 2 0.05% 7,766 $278K No change
IWM iShares Russell 2000 ETF 0.05% 1,246 $269K No change
VNQ Vanguard Real Estate ETF 0.05% 3,000 $267K No change
PFE Pfizer Inc. 0.05% 10,995 $267K Reduce -15.3%
CVX Chevron Corp. 0.05% 1,681 $241K New
BWXT BWX Technologies Inc. 0.05% 1,652 $238K Reduce -22.2%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.04% 2,406 $232K No change
SYY Sysco Corp. 0.04% 3,047 $231K No change
AIRR First Trust Rba American Ind 0.04% 2,767 $225K New
COF Capital One Financial Corp. 0.04% 1,041 $221K New
ITOT iShares Core S&P Total U.S. 0.04% 1,544 $209K New
SSRM SSR Mining Inc. 0.02% 10,000 $127K No change
GLDG Goldmining Inc. 0.00% 10,752 $8K No change

Portfolio Sells Q1 2025 → Q2 2025
COST Costco Wholesale Corp. Reduce -0.6% 6.74% −0.54
MCD McDonald's Corp. Reduce -1.4% 1.82% −0.37
DEO Diageo PLC-Sponsored ADR Reduce -4.1% 0.94% −0.24
MA Mastercard Inc. Class A Reduce -0.5% 6.68% −0.16
KO The Coca-Cola Co. Reduce -0.1% 1.10% −0.15
AAPL Apple Inc. Reduce -0.5% 2.23% −0.14
BDX Becton Dickinson and Co. Reduce -0.6% 0.46% −0.12
JNJ Johnson & Johnson Reduce -1.5% 0.72% −0.10
ROP Roper Technologies Inc. Reduce -0.1% 1.46% −0.08
PEP Pepsico Inc. Reduce -0.5% 0.41% −0.07
LIN Linde PLC Reduce -0.7% 1.24% −0.07
TRV The Travelers Cos Inc. Reduce -0.6% 0.75% −0.05
XOM Exxon Mobil Corp. Reduce -13.4% 0.15% −0.04
UNP Union Pacific Corp. Reduce -1.3% 0.95% −0.03
PG The Procter & Gamble Co. Reduce -1.6% 0.19% −0.03
LPX Louisiana-Pacific Corp. Reduce -0.7% 0.42% −0.03
CL Colgate-Palmolive Co. Reduce -0.9% 0.17% −0.03
OXY Occidental Petroleum Corp. Reduce -0.6% 0.58% −0.02
UL Unilever PLC Reduce -6.1% 0.07% −0.02
HD Home Depot Inc. Reduce -0.9% 0.25% −0.01
PM Philip Morris International Reduce -18.2% 0.06% −0.01
PFE Pfizer Inc. Reduce -15.3% 0.05% −0.01
USMV iShares MSCI USA Min Vol Fac Reduce -0.0% 0.19% −0.01
UPS United Parcel Service Class B Reduce -0.3% 0.12% −0.01
CSCO Cisco Systems Inc. Reduce -18.1% 0.05% −0.00
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.6% 0.14% −0.00
BWXT BWX Technologies Inc. Reduce -22.2% 0.05% +0.00
VEA Vanguard Ftse Developed ETF Reduce -1.3% 0.09% +0.00
IBM Intl Business Machines Corp. Reduce -9.5% 0.07% +0.00
GOOG Alphabet Inc. Class C Reduce -4.8% 0.45% +0.01
PSX Phillips 66 Reduce -2.7% 0.10% +0.01
CGDV Cap Group Dividend Value Reduce -2.7% 0.12% +0.01
IJR iShares Core S&P Small-Cap E Reduce -0.4% 0.21% +0.01
IJH iShares Core S&P Midcap ETF Reduce -0.4% 0.24% +0.01
RTX RTX Corp. Reduce -1.9% 0.08% +0.01
ECL Ecolab Inc. Reduce -0.7% 0.37% +0.01
AMAT Applied Materials Inc. Reduce -0.5% 0.16% +0.03
BLK BlackRock Inc. Reduce -0.9% 0.53% +0.04
SBUX Starbucks Corp. Reduce -0.6% 2.91% +0.08
SCHW Schwab (charles) Corp. Reduce -0.1% 1.08% +0.10
FWONK Liberty Media Corp. Class C Reduce -0.9% 0.83% +0.10
BNY Bank of New York Mellon Corp. Reduce -0.1% 1.10% +0.10
AXP American Express Co. Reduce -1.8% 1.18% +0.15
MAR Marriott International Class A Reduce 0.0% 1.39% +0.17
JPM JPMorgan Chase & Co. Reduce -0.6% 1.63% +0.18
GOOGL Alphabet Inc. Class A Reduce -0.4% 5.41% +0.34
AMZN Amazon.com Inc. Reduce -1.0% 3.43% +0.46

Portfolio Buys Q1 2025 → Q2 2025
MSFT Microsoft Corp. Add +10.1% 4.20% +1.15
DIS The Walt Disney Co. Add +0.6% 2.02% +0.51
CARR Carrier Global Corp. Add +1.6% 2.28% +0.30
MKL Markel Group Inc. Add +0.1% 6.77% +0.21
HGTY Hagerty Inc. Class A Add +9.4% 1.18% +0.19
CAT Caterpillar Inc. New 0.17% +0.17
CB Chubb Ltd. Add +35.7% 0.53% +0.10
TSLA Tesla Inc. Add +67.6% 0.18% +0.09
WRB WR Berkley Corp. New 0.07% +0.07
CGGR Cap Group Growth Equity Add +2.9% 0.45% +0.07
NVDA Nvidia Corp. Add +9.0% 0.18% +0.07
META Meta Platforms Inc. Class A Add +4.8% 0.16% +0.05
CVX Chevron Corp. New 0.05% +0.05
IDXX Idexx Laboratories Inc. Add +0.1% 0.31% +0.05
AIRR First Trust Rba American Ind New 0.04% +0.04
COF Capital One Financial Corp. New 0.04% +0.04
IVV iShares Core S&P 500 ETF Add +0.2% 0.54% +0.04
ITOT iShares Core S&P Total U.S. New 0.04% +0.04
VUG Vanguard Mrngstar GR ETF-Sui Add +0.4% 0.29% +0.04
CGUS Cap Group Core Equity Add +7.7% 0.19% +0.03
VLTO Veralto Corp. Add +0.6% 0.47% +0.02
VB Vanguard Most SM-Cap ETF-Usd Add +6.9% 0.16% +0.02
CGGO Cap Group Global Growth Add +4.1% 0.13% +0.01
DE Deere & Co. Add +0.0% 0.44% +0.01
WFC Wells Fargo & Co. Add +0.0% 0.11% +0.01
CGDG Cap Group Dividend Growers Add +7.2% 0.10% +0.01
VT Vanguard Tot World STK ETF Add +7.2% 0.07% +0.01
VWO Vanguard Ftse Emerging Marke Add +2.6% 0.11% +0.01
VOO Vanguard S&P 500 ETF Add +1.5% 0.07% +0.01
CGIE Cap Group Intl Equity Add +4.3% 0.08% +0.01
DGRO iShares Core Dividend Growth Add +1.6% 0.12% +0.00
IEFA iShares Core MSCI Eafe ETF Add +0.0% 0.29% +0.00
WMT Walmart Inc. Add +0.0% 0.41% −0.02
CSGP Costar Group Inc. Add +0.1% 0.33% −0.03
OTIS Otis Worldwide Corp. Add +0.5% 1.40% −0.11
DHR Danaher Corp. Add +1.1% 3.33% −0.14
CPRT Copart Inc. Add +0.0% 0.78% −0.26
BRK.B Berkshire Hathaway Inc. Class B Add +0.2% 8.96% −1.44

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 137$562.0MGOOGL, BRK.B, BRK.A, MKL, COST
Q1 2026 135$527.8MBRK.B, GOOGL, BRK.A, MKL, COST
Q4 2025 131$551.8MGOOGL, BRK.B, BRK.A, MKL, MA
Q3 2025 124$533.8MBRK.B, BRK.A, GOOGL, MA, MKL
Q2 2025 123$519.7MBRK.B, BRK.A, MKL, COST, MA
Q1 2025 117$478.9MBRK.B, BRK.A, COST, MA, MKL
Q4 2024 116$475.7MBRK.B, BRK.A, COST, MA, GOOGL
Q3 2024 112$472.8MBRK.B, BRK.A, COST, MA, MKL
Q2 2024 109$448.1MBRK.B, BRK.A, COST, GOOGL, MKL
Q1 2024 110$449.2MBRK.B, BRK.A, MA, MKL, COST