Lincoln Capital LLC
Long book
$527.8M
Q1 2026
Positions
135
Top-10 weight
56%
concentration
Last quarter
+9.6%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsLincoln Capital LLC is a diversified fundamental manager, running a $527.8M US long book across 135 positions.
The portfolio is concentrated: the top 10 names carry 56% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, ALPHABET INC-CL A, BERKSHIRE HATHAWAY INC-CL A, MARKEL GROUP INC, COSTCO WHOLESALE CORP.
Over the last 9 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.6%
Q2 2024
+7.3%
Q3 2024
+1.2%
Q4 2024
+1.5%
Q1 2025
+3.4%
Q2 2025
+3.7%
Q3 2025
+3.7%
Q4 2025
-4.7%
Q1 2026
+9.6%
Sector allocation
Financials 34%
Technology 21%
Consumer discretionary 18%
Services media 11%
Industrials 7%
Healthcare 2%
Consumer staples 2%
Materials 2%
Long book by quarter
What does Lincoln Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 101.9K | $48.8M | 9.2% | +8.6% |
| GOOGL ALPHABET INC-CL A | Technology | 154.2K | $44.3M | 8.4% | -0.9% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 55 | $39.5M | 7.5% | +3.8% |
| MKL MARKEL GROUP INC | Financials | 18.2K | $34.8M | 6.6% | +4.5% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 34.5K | $34.4M | 6.5% | -0.8% |
| MA MASTERCARD INC - A | Services media | 59.7K | $29.8M | 5.6% | -0.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 78.9K | $16.4M | 3.1% | -1.1% |
| DHR DANAHER CORP | Technology | 84.7K | $16.1M | 3.0% | -1.3% |
| MSFT MICROSOFT CORP | Technology | 42.6K | $15.8M | 3.0% | 0.0% |
| AAPL APPLE INC | Technology | 56.0K | $14.2M | 2.7% | -0.6% |
| SBUX STARBUCKS CORP | Consumer discretionary | 156.3K | $14.0M | 2.7% | -2.1% |
| HGTY HAGERTY INC-A | Financials | 950.7K | $10.0M | 1.9% | +17.0% |
| MCD MCDONALD'S CORP | Consumer discretionary | 31.7K | $9.9M | 1.9% | -0.6% |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 26.0K | $8.5M | 1.6% | -1.2% |
| CARR CARRIER GLOBAL CORP | Industrials | 149.0K | $8.4M | 1.6% | -6.0% |
| JPM JPMORGAN CHASE & CO | Financials | 28.1K | $8.3M | 1.6% | -0.8% |
| DIS WALT DISNEY CO/THE | Services media | 76.2K | $7.3M | 1.4% | -4.9% |
| BNY BANK OF NEW YORK MELLON CORP | Financials | 60.0K | $7.1M | 1.3% | -1.0% |
| FWONK LIBERTY MEDIA CORP-FORMULA-C | Communications | 79.1K | $6.7M | 1.3% | +91.3% |
| LIN LINDE PLC | Materials | 13.3K | $6.6M | 1.2% | -1.7% |
| KO COCA-COLA CO/THE | Consumer staples | 79.2K | $6.0M | 1.1% | -0.3% |
| JNJ JOHNSON & JOHNSON | Healthcare | 23.6K | $5.8M | 1.1% | -0.3% |
| AXP AMERICAN EXPRESS CO | Financials | 19.0K | $5.7M | 1.1% | -1.4% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 58.2K | $5.5M | 1.0% | -3.2% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 67.9K | $5.2M | 1.0% | -1.4% |
| CPRT COPART INC | Consumer discretionary | 149.1K | $4.9M | 0.9% | -10.1% |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 50.0K | $4.9M | 0.9% | +992.9% |
| UNP UNION PACIFIC CORP | Industrials | 19.9K | $4.8M | 0.9% | -3.2% |
| MCO MOODY'S CORP | Services media | 11.0K | $4.8M | 0.9% | -2.3% |
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 63.4K | $4.1M | 0.8% | -49.2% |
| GOOG ALPHABET INC-CL C | Technology | 12.5K | $3.6M | 0.7% | +0.4% |
| TRV TRAVELERS COS INC/THE | Financials | 11.8K | $3.4M | 0.7% | 0.0% |
| FAST FASTENAL CO | Consumer discretionary | 70.0K | $3.2M | 0.6% | Held |
| CB CHUBB LTD | Financials | 8.8K | $2.9M | 0.5% | -1.0% |
| WMT WALMART INC | Consumer discretionary | 22.7K | $2.8M | 0.5% | 0.0% |
| DE DEERE & CO | Industrials | 4.5K | $2.5M | 0.5% | -0.1% |
| PEP PEPSICO INC | Consumer staples | 15.5K | $2.4M | 0.5% | 0.0% |
| BLK BLACKROCK INC | Financials | 2.3K | $2.2M | 0.4% | -2.0% |
| APH AMPHENOL CORP-CL A | Technology | 17.2K | $2.2M | 0.4% | Held |
| VLTO VERALTO CORP | Technology | 21.7K | $1.9M | 0.4% | -6.1% |
| BDX BECTON DICKINSON AND CO | Healthcare | 11.8K | $1.9M | 0.4% | -2.6% |
| ECL ECOLAB INC | Other | 6.6K | $1.7M | 0.3% | -5.7% |
| IDXX IDEXX LABORATORIES INC | Materials | 3.0K | $1.7M | 0.3% | -1.2% |
| CAT CATERPILLAR INC | Industrials | 2.4K | $1.7M | 0.3% | Held |
| LPX LOUISIANA-PACIFIC CORP | Other | 22.2K | $1.6M | 0.3% | -1.8% |
| CINF CINCINNATI FINANCIAL CORP | Financials | 9.8K | $1.5M | 0.3% | Held |
| AMAT APPLIED MATERIALS INC | Technology | 4.4K | $1.5M | 0.3% | Held |
| GLW CORNING INC | Industrials | 10.4K | $1.4M | 0.3% | Held |
| ESAB ESAB CORP | Industrials | 12.7K | $1.2M | 0.2% | 0.0% |
| XOM EXXON MOBIL CORP | Energy | 7.1K | $1.2M | 0.2% | -1.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 1, 2026 | 135 | $527.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 8, 2026 | 131 | $551.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 5, 2025 | 124 | $533.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 11, 2025 | 123 | $519.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 117 | $478.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 116 | $475.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 1, 2024 | 112 | $472.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 23, 2024 | 109 | $448.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 16, 2024 | 111 | $449.4M | canonical | SEC ↗ |
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