Lincoln Capital LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Lincoln Capital LLC reported 124 stock positions worth $533.8 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.8% of the portfolio, followed by Berkshire Hathaway Class A (BRK.A, 7.5%) and Alphabet Class A (GOOGL, 7.2%). Compared with Q2 2025, it opened 5 new positions, sold out of 4, added to 40 and reduced 59. The biggest buy was Hagerty Class A (HGTY, shares +30%) and the biggest sale Costco Wholesale (COST, shares −2%).

Most Recent 13F
Q2 2026
Location
LINCOLN, NE
CIK
0001633862
Portfolio Value
$533.8M (Q3 2025)
SEC Filing
0001633862-25-000002 ↗ filed Nov 5, 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 Q2 2025 Q3 2025: $533.8M $533.8M Q3 2025 Q4 2025: $551.8M Q4 2025 Q1 2026: $527.8M Q1 2026 Q2 2026: $562.0M Q2 2026

Holdings 124 stocks · $533.8M
BRK.B Berkshire Hathaway Inc. Class B 8.80% 94,151 $47.0M Reduce -1.8%
BRK.A Berkshire Hathaway Inc. Class A 7.45% 53 $39.8M No change
GOOGL Alphabet Inc. Class A 7.19% 156,456 $38.4M Reduce -1.9%
MA Mastercard Inc. Class A 6.63% 60,963 $35.4M Reduce -1.3%
MKL Markel Group Inc. 6.38% 17,549 $34.1M Reduce -0.4%
COST Costco Wholesale Corp. 5.98% 34,863 $31.9M Reduce -1.5%
MSFT Microsoft Corp. 4.16% 42,909 $22.2M Reduce -2.2%
DHR Danaher Corp. 3.48% 86,419 $18.6M Reduce -1.4%
AMZN Amazon.com Inc. 3.30% 80,154 $17.6M Reduce -1.5%
AAPL Apple Inc. 2.73% 56,520 $14.6M Add +0.1%
SBUX Starbucks Corp. 2.62% 161,969 $14.0M Reduce -1.8%
MCD McDonald's Corp. 1.81% 32,027 $9.6M Reduce -1.2%
CARR Carrier Global Corp. 1.80% 160,714 $9.6M Reduce -0.7%
HGTY Hagerty Inc. Class A 1.77% 787,387 $9.4M Add +29.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.72% 81,683 $9.2M Reduce -3.6%
JPM JPMorgan Chase & Co. 1.65% 28,383 $8.8M Reduce -2.8%
MAR Marriott International Class A 1.32% 26,393 $7.1M Reduce -0.5%
ROP Roper Technologies Inc. 1.23% 13,109 $6.6M Reduce -2.4%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.21% 60,815 $6.5M Reduce -3.0%
OTIS Otis Worldwide Corp. 1.20% 69,939 $6.4M Reduce -5.1%
LIN Linde PLC 1.20% 13,707 $6.4M Reduce -0.2%
AXP American Express Co. 1.18% 19,127 $6.3M Reduce -0.3%
SCHW Schwab (charles) Corp. 1.08% 61,205 $5.8M Reduce -0.6%
OXY Occidental Petroleum Corp. 1.05% 124,642 $5.6M Add +74.0%
MCO Moody's Corp. 1.05% 11,507 $5.6M Reduce -3.3%
KO The Coca-Cola Co. 0.99% 79,118 $5.3M Reduce -1.7%
UNP Union Pacific Corp. 0.91% 20,510 $4.9M Reduce -4.3%
JNJ Johnson & Johnson 0.83% 23,394 $4.4M Reduce -4.9%
FWONK Liberty Media Corp. Class C 0.81% 41,312 $4.3M Reduce -0.2%
TRV The Travelers Cos Inc. 0.70% 13,195 $3.8M Reduce -9.2%
CPRT Copart Inc. 0.69% 81,804 $3.7M Reduce -1.3%
IVV iShares Core S&P 500 ETF 0.58% 4,594 $3.1M Add +2.4%
GOOG Alphabet Inc. Class C 0.57% 12,401 $3.1M Reduce -5.7%
BLK BlackRock Inc. 0.54% 2,470 $2.9M Reduce -5.2%
APH Amphenol Corp. Class A 0.53% 23,130 $2.8M Reduce -2.9%
FAST Fastenal Co. 0.51% 57,188 $2.7M Reduce -1.3%
CGGR Cap Group Growth Equity 0.51% 60,934 $2.7M Add +5.3%
CB Chubb Ltd. 0.48% 9,054 $2.6M Reduce -4.2%
VLTO Veralto Corp. 0.47% 23,634 $2.5M Reduce -2.1%
BDX Becton Dickinson and Co. 0.47% 12,848 $2.5M Reduce -6.4%
LPX Louisiana-Pacific Corp. 0.42% 25,054 $2.3M Reduce -0.2%
WMT Walmart Inc. 0.42% 22,139 $2.3M Add +0.8%
PEP Pepsico Inc. 0.42% 15,609 $2.2M Reduce -2.1%
DE Deere & Co. 0.39% 4,476 $2.1M Add +0.3%
ECL Ecolab Inc. 0.37% 7,080 $2.0M Reduce -0.2%
IDXX Idexx Laboratories Inc. 0.36% 3,027 $1.9M Reduce -0.1%
CSGP Costar Group Inc. 0.34% 21,243 $1.8M Reduce -0.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.31% 3,462 $1.7M Add +2.2%
IEFA iShares Core MSCI Eafe ETF 0.30% 18,236 $1.6M Add +0.5%
CINF Cincinnati Financial Corp. 0.30% 9,813 $1.6M Add +0.1%
ESAB Esab Corp. 0.28% 12,676 $1.5M Add +0.1%
HD Home Depot Inc. 0.27% 3,599 $1.4M Add +0.4%
MSCI MSCI Inc. 0.26% 2,502 $1.4M Reduce -0.2%
IJH iShares Core S&P Midcap ETF 0.26% 21,015 $1.4M Add +4.7%
BAM Brookfield Asset Mgmt-A 0.25% 23,019 $1.3M Reduce -0.6%
IJR iShares Core S&P Small-Cap E 0.23% 10,328 $1.2M Add +2.5%
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.22% 29,607 $1.2M Add +10.7%
CAT Caterpillar Inc. 0.22% 2,355 $1.2M Add +0.9%
NVDA Nvidia Corp. 0.21% 5,957 $1.1M Reduce -1.3%
DEO Diageo PLC-Sponsored ADR 0.20% 11,342 $1.1M Reduce -76.6%
SPGI S&P Global Inc. 0.20% 2,272 $1.1M Reduce -3.6%
USMV iShares MSCI USA Min Vol Fac 0.19% 10,650 $1.0M No change
VB Vanguard Most SM-Cap ETF-Usd 0.18% 3,765 $971K Add +8.0%
PG The Procter & Gamble Co. 0.18% 6,350 $967K Add +1.6%
AMAT Applied Materials Inc. 0.18% 4,439 $966K No change
TSLA Tesla Inc. 0.18% 2,206 $948K Reduce -24.2%
BN Brookfield Corp. 0.17% 13,317 $915K Reduce -1.0%
WCN Waste Connections Inc. 0.17% 5,062 $883K No change
CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT 0.16% 28,012 $850K Reduce -6.3%
XOM Exxon Mobil Corp. 0.15% 7,177 $813K Reduce -1.3%
CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT 0.15% 23,149 $805K Add +11.4%
NKE Nike Inc. Class B 0.15% 10,973 $789K Add +0.1%
VTV Vanguard Mrngstr Val ETF-Aui 0.15% 4,162 $781K Reduce -0.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.14% 1,144 $765K No change
META Meta Platforms Inc. Class A 0.14% 1,064 $756K Reduce -4.1%
V Visa Inc. Class A 0.14% 2,157 $755K Add +1.3%
MTD Mettler-Toledo International 0.14% 560 $736K Reduce -2.6%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.13% 16,640 $705K Add +1.4%
VWO Vanguard Ftse Emerging Marke 0.13% 12,474 $683K Add +7.8%
XYL Xylem Inc. 0.13% 4,488 $673K No change
SYK Stryker Corp. 0.12% 1,780 $659K No change
ORCL Oracle Corp. 0.12% 2,286 $654K Add +13.7%
DGRO iShares Core Dividend Growth 0.12% 9,339 $640K Reduce -5.6%
CL Colgate-Palmolive Co. 0.12% 8,188 $639K Reduce -14.1%
ACN Accenture PLC Class A 0.12% 2,580 $633K No change
VEA Vanguard Ftse Developed ETF 0.11% 9,861 $602K Add +15.1%
CGDG Cap Group Dividend Growers filed as CAPITAL GROUP DIVIDEND GROWE 0.11% 17,015 $595K Add +11.0%
PSX Phillips 66 0.11% 4,292 $571K Reduce -4.3%
WFC Wells Fargo & Co. 0.11% 7,042 $568K Add +0.4%
HSY The Hershey Co. 0.10% 2,868 $560K Reduce -1.5%
AMT American Tower Corp. 0.10% 2,700 $514K No change
RTX RTX Corp. 0.09% 2,887 $481K Add +0.7%
UPS United Parcel Service Class B 0.09% 5,488 $476K Reduce -9.9%
ADP Automatic Data Processing 0.09% 1,567 $456K Reduce -24.8%
GDX Vaneck Gold Miners ETF 0.08% 5,858 $452K New
VT Vanguard Tot World STK ETF 0.08% 3,235 $450K Add +12.1%
HSIC Henry Schein Inc. 0.08% 6,500 $436K No change
ETN Eaton Corp. PLC 0.08% 1,162 $434K No change
CGIE Cap Group Intl Equity filed as CAPITAL GROUP INTERNATIONAL 0.08% 12,292 $424K Add +1.4%
VOO Vanguard S&P 500 ETF 0.08% 664 $409K Add +6.8%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.08% 5,236 $402K No change
GLD SPDR Gold Shares 0.07% 1,035 $370K Add +2.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 1,225 $353K Add +3.2%
UL Unilever PLC 0.06% 5,542 $327K No change
USB US Bancorp 0.06% 6,641 $319K Add +0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 6,161 $312K No change
BWXT BWX Technologies Inc. 0.06% 1,654 $309K Add +0.1%
IWM iShares Russell 2000 ETF 0.06% 1,246 $306K No change
CSCO Cisco Systems Inc. 0.06% 4,480 $304K Add +10.3%
DFAC Dimensional US Core Equity 2 0.06% 7,766 $301K No change
PFE Pfizer Inc. 0.05% 10,271 $281K Reduce -6.6%
VNQ Vanguard Real Estate ETF 0.05% 3,000 $274K No change
AIRR First Trust Rba American Ind 0.05% 2,767 $269K No change
CVX Chevron Corp. 0.05% 1,701 $261K Add +1.2%
SYY Sysco Corp. 0.05% 3,104 $255K Add +1.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.05% 2,430 $251K Add +1.0%
PM Philip Morris International 0.05% 1,591 $244K Add +1.3%
VMI Valmont Industries 0.04% 600 $237K New
ABBV Abbvie Inc. 0.04% 1,001 $234K New
ITOT iShares Core S&P Total U.S. 0.04% 1,544 $226K No change
COF Capital One Financial Corp. 0.04% 1,041 $223K No change
QQQ Invesco QQQ Trust Series 1 0.04% 353 $213K New
MKC McCormick & Co.-Non VTG SHRS 0.04% 3,083 $212K Reduce -32.7%
COP Conocophillips 0.04% 2,218 $209K New

Portfolio Sells Q2 2025 → Q3 2025
COST Costco Wholesale Corp. Reduce -1.5% 5.98% −0.77
DEO Diageo PLC-Sponsored ADR Reduce -76.6% 0.20% −0.73
CARR Carrier Global Corp. Reduce -0.7% 1.80% −0.48
MKL Markel Group Inc. Reduce -0.4% 6.38% −0.39
DIS The Walt Disney Co. Reduce -3.6% 1.72% −0.30
SBUX Starbucks Corp. Reduce -1.8% 2.62% −0.29
ROP Roper Technologies Inc. Reduce -2.4% 1.23% −0.24
OTIS Otis Worldwide Corp. Reduce -5.1% 1.20% −0.20
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.8% 8.80% −0.16
AMZN Amazon.com Inc. Reduce -1.5% 3.30% −0.14
JBTM JBT Marel Corp. Sold out 0.00% −0.13
KO The Coca-Cola Co. Reduce -1.7% 0.99% −0.11
MCO Moody's Corp. Reduce -3.3% 1.05% −0.10
CPRT Copart Inc. Reduce -1.3% 0.69% −0.09
MAR Marriott International Class A Reduce -0.5% 1.32% −0.07
NTRS Northern Trust Corp. Sold out 0.00% −0.06
MA Mastercard Inc. Class A Reduce -1.3% 6.63% −0.05
CL Colgate-Palmolive Co. Reduce -14.1% 0.12% −0.05
CB Chubb Ltd. Reduce -4.2% 0.48% −0.04
TRV The Travelers Cos Inc. Reduce -9.2% 0.70% −0.04
LIN Linde PLC Reduce -0.2% 1.20% −0.04
MSFT Microsoft Corp. Reduce -2.2% 4.16% −0.04
UNP Union Pacific Corp. Reduce -4.3% 0.91% −0.04
ADP Automatic Data Processing Reduce -24.8% 0.09% −0.04
SPGI S&P Global Inc. Reduce -3.6% 0.20% −0.03
UPS United Parcel Service Class B Reduce -9.9% 0.09% −0.03
MKC McCormick & Co.-Non VTG SHRS Reduce -32.7% 0.04% −0.03
SSRM SSR Mining Inc. Sold out 0.00% −0.02
FWONK Liberty Media Corp. Class C Reduce -0.2% 0.81% −0.02
MCD McDonald's Corp. Reduce -1.2% 1.81% −0.02
META Meta Platforms Inc. Class A Reduce -4.1% 0.14% −0.02
MSCI MSCI Inc. Reduce -0.2% 0.26% −0.02
SCHW Schwab (charles) Corp. Reduce -0.6% 1.08% −0.00
DGRO iShares Core Dividend Growth Reduce -5.6% 0.12% −0.00
GLDG Goldmining Inc. Sold out 0.00% −0.00
ECL Ecolab Inc. Reduce -0.2% 0.37% −0.00
TSLA Tesla Inc. Reduce -24.2% 0.18% −0.00
PFE Pfizer Inc. Reduce -6.6% 0.05% +0.00
XOM Exxon Mobil Corp. Reduce -1.3% 0.15% +0.00
CGXU Cap Group Intl Focus Reduce -6.3% 0.16% +0.00
BAM Brookfield Asset Mgmt-A Reduce -0.6% 0.25% +0.00
PSX Phillips 66 Reduce -4.3% 0.11% +0.00
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.3% 0.15% +0.00
VLTO Veralto Corp. Reduce -2.1% 0.47% +0.01
AXP American Express Co. Reduce -0.3% 1.18% +0.01
MTD Mettler-Toledo International Reduce -2.6% 0.14% +0.01
CSGP Costar Group Inc. Reduce -0.2% 0.34% +0.01
LPX Louisiana-Pacific Corp. Reduce -0.2% 0.42% +0.01
PEP Pepsico Inc. Reduce -2.1% 0.42% +0.01
BDX Becton Dickinson and Co. Reduce -6.4% 0.47% +0.01

Portfolio Buys Q2 2025 → Q3 2025
HGTY Hagerty Inc. Class A Add +29.6% 1.77% +0.59
AAPL Apple Inc. Add +0.1% 2.73% +0.50
OXY Occidental Petroleum Corp. Add +74.0% 1.05% +0.47
GDX Vaneck Gold Miners ETF New 0.08% +0.08
CGGR Cap Group Growth Equity Add +5.3% 0.51% +0.05
CAT Caterpillar Inc. Add +0.9% 0.22% +0.05
VMI Valmont Industries New 0.04% +0.04
ABBV Abbvie Inc. New 0.04% +0.04
IVV iShares Core S&P 500 ETF Add +2.4% 0.58% +0.04
QQQ Invesco QQQ Trust Series 1 New 0.04% +0.04
COP Conocophillips New 0.04% +0.04
ORCL Oracle Corp. Add +13.7% 0.12% +0.04
CGUS Cap Group Core Equity Add +10.7% 0.22% +0.03
VUG Vanguard Mrngstar GR ETF-Sui Add +2.2% 0.31% +0.03
CGGO Cap Group Global Growth Add +11.4% 0.15% +0.02
VB Vanguard Most SM-Cap ETF-Usd Add +8.0% 0.18% +0.02
IJR iShares Core S&P Small-Cap E Add +2.5% 0.23% +0.02
IJH iShares Core S&P Midcap ETF Add +4.7% 0.26% +0.02
CINF Cincinnati Financial Corp. Add +0.1% 0.30% +0.02
VEA Vanguard Ftse Developed ETF Add +15.1% 0.11% +0.02
VWO Vanguard Ftse Emerging Marke Add +7.8% 0.13% +0.02
HD Home Depot Inc. Add +0.4% 0.27% +0.01
VT Vanguard Tot World STK ETF Add +12.1% 0.08% +0.01
CGDG Cap Group Dividend Growers Add +11.0% 0.11% +0.01
IEFA iShares Core MSCI Eafe ETF Add +0.5% 0.30% +0.01
BWXT BWX Technologies Inc. Add +0.1% 0.06% +0.01
WMT Walmart Inc. Add +0.8% 0.42% +0.01
GLD SPDR Gold Shares Add +2.0% 0.07% +0.01
RTX RTX Corp. Add +0.7% 0.09% +0.01
VOO Vanguard S&P 500 ETF Add +6.8% 0.08% +0.01
CGDV Cap Group Dividend Value Add +1.4% 0.13% +0.01
SYY Sysco Corp. Add +1.9% 0.05% +0.00
CSCO Cisco Systems Inc. Add +10.3% 0.06% +0.00
CGIE Cap Group Intl Equity Add +1.4% 0.08% +0.00
CVX Chevron Corp. Add +1.2% 0.05% +0.00
TROW T Rowe Price Group Inc. Add +1.0% 0.05% +0.00
USB US Bancorp Add +0.3% 0.06% +0.00
IBM Intl Business Machines Corp. Add +3.2% 0.07% −0.00
WFC Wells Fargo & Co. Add +0.4% 0.11% −0.00
NKE Nike Inc. Class B Add +0.1% 0.15% −0.00
V Visa Inc. Class A Add +1.3% 0.14% −0.00
PM Philip Morris International Add +1.3% 0.05% −0.01
PG The Procter & Gamble Co. Add +1.6% 0.18% −0.01
ESAB Esab Corp. Add +0.1% 0.28% −0.01
DE Deere & Co. Add +0.3% 0.39% −0.05

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