Lincoln Capital LLC

RIA/Wealth

Lincoln Capital LLC is a RIA/Wealth based in Lincoln, NE led by Judd Aaron Norman, reporting $742.9M in AUM as of Q3 2025 with 41% Financial Services concentration and 56% concentrated in top 10 holdings.

Managing PartnerJudd Aaron Norman

Portfolio Value: $533.9M
Positions: 124
Top Holding: BRK.B at 8.8%
Last Reported: Q3 2025

Address6003 Old Cheney Rd, Suite 350, Lincoln, NE, 68516, United States

Top Holdings

Largest long holdings in Lincoln Capital LLC's portfolio (56.1% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$47.0M	8.80%	-$843.4K Sold	0.00% 94.2K shares	Q4 2019 Held for 5y 11m
2 Berkshire Hathaway BRK.A	Insurance - Diversified Financial Services	$39.8M	7.45%	—	0.00% 53.0 shares	Q4 2019 Held for 5y 11m
3 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$38.4M	7.19%	-$744.6K Sold	0.00% 156.5K shares	Q4 2014 Held for 10y 11m
4 Mastercard MA	Financial - Credit Services Financial Services	$35.4M	6.63%	-$474.2K Sold	0.01% 61.0K shares	Q4 2014 Held for 10y 11m
5 Markel MKL	Insurance - Property & Casualty Financial Services	$34.1M	6.38%	-$145.6K Sold	0.14% 17.5K shares	Q4 2014 Held for 10y 11m
6 Costco Wholesale COST	Discount Stores Consumer Defensive	$31.9M	5.98%	-$496.1K Sold	0.01% 34.9K shares	Q4 2014 Held for 10y 11m
7 Microsoft MSFT	Software - Infrastructure Technology	$22.2M	4.16%	-$496.2K Sold	0.00% 42.9K shares	Q4 2014 Held for 10y 11m
8 Danaher DHR	Medical - Diagnostics & Research Healthcare	$18.6M	3.48%	-$262.1K Sold	0.01% 86.4K shares	Q4 2014 Held for 10y 11m
9 Amazon AMZN	Specialty Retail Consumer Cyclical	$17.6M	3.30%	-$261.4K Sold	0.00% 80.2K shares	Q3 2015 Held for 10y 2m
10 Apple AAPL	Consumer Electronics Technology	$14.6M	2.73%	+$15.5K Bought	0.00% 56.5K shares	Q4 2014 Held for 10y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Lincoln Capital LLC's latest filing

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Market Value

$533.9M

Prior: $519.7M

Q/Q Change

+2.73%

+$14.2M

Net Flows % of MV

-1.26%

Turnover Ratio

1.9%

New Purchases

3 stocks

$901.4K

Added To

40 stocks

+$5.7M

Sold Out Of

4 stocks

$1.1M

Reduced Holdings

59 stocks

-$12.2M

Increased Positions

Position	Shares Δ	Change
1 VanEck Gold Miners GDX	New	0 → 5.9K +$451.5K
2 Valmont Industries VMI	New	0 → 600.0 +$236.8K
3 Invesco QQQ Trust QQQ	New	0 → 353.0 +$213.1K
4 Occidental Petroleum OXY	+73.99%	71.6K → 124.6K +$2.4M
5 Hagerty HGTY	+29.65%	607.3K → 787.4K +$2.2M

Decreased Positions

Position	Shares Δ	Change
1 JBT Marel Corporation JBTM	Sold	5.6K → 0 −$679.0K
2 Northern Trust NTRS	Sold	2.3K → 0 −$295.2K
3 SSR Mining SSRM	Sold	10.0K → 0 −$127.4K
4 GoldMining GLDG	Sold	10.8K → 0 −$7.7K
5 DEO Diageo DEO	-76.57%	48.4K → 11.3K −$3.6M

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Analytics

Portfolio insights and performance metrics for Lincoln Capital LLC

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Sector Allocation

Financial Services

40.60%

Communication Services

10.40%

Consumer Cyclical

10.30%

Consumer Defensive

8.30%

Technology

8.20%

Industrials

8.20%

Healthcare

5.60%

ETF

4.60%

Basic Materials

1.60%

Energy

1.40%

Real Estate

0.40%

Market Cap Distribution

Mega Cap (> $200B)

58.73%

Large Cap ($10B - $200B)

33.73%

Mid Cap ($2B - $10B)

0.83%

Small Cap ($300M - $2B)

1.77%

N/A (ETF or Unknown)

4.94%

Portfolio Concentration

Top 10 Holdings %

56.1%

Top 20 Holdings %

72.42%

Top 50 Holdings %

91.19%

Top 100 Holdings %

98.75%