Vanguard Capital Management Acquires 5.04% Stake in Lincoln National Corp

Vanguard Capital Management LLC filed a Schedule 13G on April 30, 2026, reporting a new 5.04% ownership stake in Lincoln National Corp (LNC). As of the event date on March 31, 2026, the firm beneficially owns 9,580,622 shares of common stock. The filing indicates that Vanguard holds sole dispositive power over all 9,580,622 shares, while maintaining sole voting power over 1,309,721 shares. This position represents a significant increase from a previous ownership level of 0.0%. The filing includes shares managed by various Vanguard affiliates, including Vanguard Asset Management Limited and Vanguard Global Advisers, LLC. The securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. No other single person's interest in the reported securities exceeds 5%. The total value of the holdings is estimated at approximately $359.56 million based on provided data.