# EDGAR Filing Document

**Accession Number:** 0002015799
**File Stem:** 0001752724-25-133237
**Filing Date:** 2025-6
**Character Count:** 61844
**Document Hash:** 2a5eb40b93223ebcfb4af7652995ff43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-133237.hdr.sgml**: 20250610

**ACCESSION NUMBER**: 0001752724-25-133237

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250610

**DATE AS OF CHANGE**: 20250610

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lincoln Funds Trust
- **CENTRAL INDEX KEY:** 0002015799

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23952
- **FILM NUMBER:** 251036341

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 S. HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** (484) 583-6302

**MAIL ADDRESS:**
- **STREET 1:** 1301 S. HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

## Series and Classes Contracts Data

### Lincoln U.S. Equity Income Maximizer Fund (Series ID: S000085534)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000250825 | Class I      | LFTPX           |
| C000250826 | Class A      | LFTOX           |

## Nport-Ex

**Lincoln U.S. Equity Income Maximizer Fund**

**Schedule of Investments**

April 30, 2025 (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>| **Value** <br>**(U.S. $)**<br>|
| **COMMON STOCK–96.11%** | **COMMON STOCK–96.11%** | **COMMON STOCK–96.11%** |
| **Aerospace & Defense–1.56%** | **Aerospace & Defense–1.56%** | **Aerospace & Defense–1.56%** |
| General Electric Co. | 580 | $116893 |
| RTX Corp. | 880 | 110995 |
|  |  | **227888** |
| **Air Freight & Logistics–0.50%** | **Air Freight & Logistics–0.50%** | **Air Freight & Logistics–0.50%** |
| &nbsp;&nbsp; United Parcel Service, Inc. <br> Class B<br>| 761 | 72523 |
|  |  | **72523** |
| **Automobiles–1.69%** | **Automobiles–1.69%** | **Automobiles–1.69%** |
| †Tesla, Inc. | 875 | 246890 |
|  |  | **246890** |
| **Banks–4.82%** | **Banks–4.82%** | **Banks–4.82%** |
| Bank of America Corp. | 4085 | 162910 |
| JPMorgan Chase & Co. | 1210 | 295990 |
| &nbsp;&nbsp; PNC Financial Services <br> Group, Inc.<br>| 608 | 97699 |
| Wells Fargo & Co. | 2072 | 147133 |
|  |  | **703732** |
| **Beverages–0.82%** | **Beverages–0.82%** | **Beverages–0.82%** |
| PepsiCo, Inc. | 881 | 119446 |
|  |  | **119446** |
| **Biotechnology–1.56%** | **Biotechnology–1.56%** | **Biotechnology–1.56%** |
| AbbVie, Inc. | 778 | 151788 |
| Amgen, Inc. | 264 | 76803 |
|  |  | **228591** |
| **Broadline Retail–3.71%** | **Broadline Retail–3.71%** | **Broadline Retail–3.71%** |
| †Amazon.com, Inc. | 2936 | 541457 |
|  |  | **541457** |
| **Capital Markets–2.66%** | **Capital Markets–2.66%** | **Capital Markets–2.66%** |
| Blackrock, Inc. | 141 | 128911 |
| Goldman Sachs Group, Inc. | 237 | 129769 |
| Morgan Stanley | 1129 | 130309 |
|  |  | **388989** |
| **Chemicals–1.04%** | **Chemicals–1.04%** | **Chemicals–1.04%** |
| Linde PLC | 336 | 152285 |
|  |  | **152285** |
| **Communications Equipment–1.04%** | **Communications Equipment–1.04%** | **Communications Equipment–1.04%** |
| Cisco Systems, Inc. | 2628 | 151714 |
|  |  | **151714** |
| **Consumer Finance–0.92%** | **Consumer Finance–0.92%** | **Consumer Finance–0.92%** |
| American Express Co. | 505 | 134537 |
|  |  | **134537** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **COMMON STOCK (continued)** | **COMMON STOCK (continued)** | **COMMON STOCK (continued)** |
| **Consumer Staples Distribution & Retail–2.31%** | **Consumer Staples Distribution & Retail–2.31%** | **Consumer Staples Distribution & Retail–2.31%** |
| Costco Wholesale Corp. | 188 | $186966 |
| Walmart, Inc. | 1553 | 151029 |
|  |  | **337995** |
| **Diversified Telecommunication Services–0.83%** | **Diversified Telecommunication Services–0.83%** | **Diversified Telecommunication Services–0.83%** |
| AT&T, Inc. | 4395 | 121742 |
|  |  | **121742** |
| **Electric Utilities–0.42%** | **Electric Utilities–0.42%** | **Electric Utilities–0.42%** |
| NextEra Energy, Inc. | 926 | 61931 |
|  |  | **61931** |
| **Electrical Equipment–0.59%** | **Electrical Equipment–0.59%** | **Electrical Equipment–0.59%** |
| Eaton Corp. PLC | 293 | 86250 |
|  |  | **86250** |
| **Entertainment–1.77%** | **Entertainment–1.77%** | **Entertainment–1.77%** |
| †Netflix, Inc. | 157 | 177680 |
| Walt Disney Co. | 898 | 81673 |
|  |  | **259353** |
| **Financial Services–5.08%** | **Financial Services–5.08%** | **Financial Services–5.08%** |
| &nbsp;&nbsp; †Berkshire Hathaway, Inc. <br> Class B<br>| 631 | 336481 |
| Mastercard, Inc. Class A | 344 | 188532 |
| Visa, Inc. Class A | 628 | 216974 |
|  |  | **741987** |
| **Ground Transportation–0.54%** | **Ground Transportation–0.54%** | **Ground Transportation–0.54%** |
| †Uber Technologies, Inc. | 972 | 78742 |
|  |  | **78742** |
| **Health Care Equipment & Supplies–1.93%** | **Health Care Equipment & Supplies–1.93%** | **Health Care Equipment & Supplies–1.93%** |
| Abbott Laboratories | 1291 | 168798 |
| †Intuitive Surgical, Inc. | 220 | 113476 |
|  |  | **282274** |
| **Health Care Providers & Services–1.52%** | **Health Care Providers & Services–1.52%** | **Health Care Providers & Services–1.52%** |
| Elevance Health, Inc. | 212 | 89163 |
| UnitedHealth Group, Inc. | 325 | 133718 |
|  |  | **222881** |
| **Hotels, Restaurants & Leisure–2.83%** | **Hotels, Restaurants & Leisure–2.83%** | **Hotels, Restaurants & Leisure–2.83%** |
| Booking Holdings, Inc. | 19 | 96886 |
| &nbsp;&nbsp; Hilton Worldwide Holdings, <br> Inc.<br>| 754 | 170012 |
| McDonald's Corp. | 339 | 108362 |
| Starbucks Corp. | 478 | 38264 |
|  |  | **413524** |
| **Household Durables–0.83%** | **Household Durables–0.83%** | **Household Durables–0.83%** |
| †NVR, Inc. | 17 | 121138 |
|  |  | **121138** |

---

*Lincoln U.S. Equity Income Maximizer Fund–1*

------

**Lincoln U.S. Equity Income Maximizer Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **COMMON STOCK (continued)** | **COMMON STOCK (continued)** | **COMMON STOCK (continued)** |
| **Household Products–1.16%** | **Household Products–1.16%** | **Household Products–1.16%** |
| Procter & Gamble Co. | 1039 | $168910 |
|  |  | **168910** |
| **Industrial REITs–0.46%** | **Industrial REITs–0.46%** | **Industrial REITs–0.46%** |
| Prologis, Inc. | 653 | 66737 |
|  |  | **66737** |
| **Insurance–0.75%** | **Insurance–0.75%** | **Insurance–0.75%** |
| Progressive Corp. | 390 | 109879 |
|  |  | **109879** |
| **Interactive Media & Services–6.05%** | **Interactive Media & Services–6.05%** | **Interactive Media & Services–6.05%** |
| Alphabet, Inc. Class C | 3226 | 519031 |
| Meta Platforms, Inc. Class A | 664 | 364536 |
|  |  | **883567** |
| **IT Services–1.20%** | **IT Services–1.20%** | **IT Services–1.20%** |
| Accenture PLC Class A | 263 | 78677 |
| &nbsp;&nbsp; International Business <br> Machines Corp.<br>| 399 | 96486 |
|  |  | **175163** |
| **Life Sciences Tools & Services–1.19%** | **Life Sciences Tools & Services–1.19%** | **Life Sciences Tools & Services–1.19%** |
| Danaher Corp. | 386 | 76941 |
| &nbsp;&nbsp; Thermo Fisher Scientific, <br> Inc.<br>| 227 | 97383 |
|  |  | **174324** |
| **Machinery–3.45%** | **Machinery–3.45%** | **Machinery–3.45%** |
| Caterpillar, Inc. | 268 | 82884 |
| Dover Corp. | 830 | 141639 |
| Illinois Tool Works, Inc. | 770 | 184731 |
| Ingersoll Rand, Inc. | 1255 | 94665 |
|  |  | **503919** |
| **Media–0.65%** | **Media–0.65%** | **Media–0.65%** |
| Comcast Corp. Class A | 2789 | 95384 |
|  |  | **95384** |
| **Multi-Utilities–2.49%** | **Multi-Utilities–2.49%** | **Multi-Utilities–2.49%** |
| DTE Energy Co. | 1295 | 177415 |
| Sempra | 2503 | 185898 |
|  |  | **363313** |
| **Oil, Gas & Consumable Fuels–2.99%** | **Oil, Gas & Consumable Fuels–2.99%** | **Oil, Gas & Consumable Fuels–2.99%** |
| Chevron Corp. | 933 | 126944 |
| Exxon Mobil Corp. | 1715 | 181155 |
| Occidental Petroleum Corp. | 3263 | 128595 |
|  |  | **436694** |
| **Pharmaceuticals–4.17%** | **Pharmaceuticals–4.17%** | **Pharmaceuticals–4.17%** |
| Eli Lilly & Co. | 258 | 231929 |
| Johnson & Johnson | 1405 | 219616 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Shares**<br>| **Value**<br> **(U.S. $)**<br>|
| **COMMON STOCK (continued)** | **COMMON STOCK (continued)** | **COMMON STOCK (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Merck & Co., Inc. | 960 | $81792 |
| Pfizer, Inc. | 3125 | 76281 |
|  |  | **609618** |
| **Residential REITs–0.64%** | **Residential REITs–0.64%** | **Residential REITs–0.64%** |
| Equity Residential | 1331 | 93516 |
|  |  | **93516** |
| **Retail REITs–0.76%** | **Retail REITs–0.76%** | **Retail REITs–0.76%** |
| Realty Income Corp. | 1925 | 111381 |
|  |  | **111381** |
| **Semiconductors & Semiconductor Equipment–9.87%** | **Semiconductors & Semiconductor Equipment–9.87%** | **Semiconductors & Semiconductor Equipment–9.87%** |
| †Advanced Micro Devices, Inc. | 628 | 61136 |
| Applied Materials, Inc. | 593 | 89371 |
| Broadcom, Inc. | 1575 | 303140 |
| Intel Corp. | 1825 | 36682 |
| Micron Technology, Inc. | 523 | 40245 |
| NVIDIA Corp. | 7539 | 821148 |
| QUALCOMM, Inc. | 606 | 89967 |
|  |  | **1441689** |
| **Software–10.84%** | **Software–10.84%** | **Software–10.84%** |
| †Adobe, Inc. | 163 | 61122 |
| &nbsp;&nbsp; †Crowdstrike Holdings, Inc. <br> Class A<br>| 115 | 49320 |
| Intuit, Inc. | 151 | 94748 |
| Microsoft Corp. | 2248 | 888544 |
| Oracle Corp. | 520 | 73174 |
| &nbsp;&nbsp; †Palantir Technologies, Inc. <br> Class A<br>| 871 | 103161 |
| †PTC, Inc. | 748 | 115918 |
| Salesforce, Inc. | 380 | 102110 |
| †ServiceNow, Inc. | 100 | 95501 |
|  |  | **1583598** |
| **Specialized REITs–0.78%** | **Specialized REITs–0.78%** | **Specialized REITs–0.78%** |
| VICI Properties, Inc. | 3545 | 113511 |
|  |  | **113511** |
| **Specialty Retail–1.75%** | **Specialty Retail–1.75%** | **Specialty Retail–1.75%** |
| Home Depot, Inc. | 470 | 169430 |
| Lowe's Cos., Inc. | 387 | 86518 |
|  |  | **255948** |
| **Technology Hardware, Storage & Peripherals–6.80%** | **Technology Hardware, Storage & Peripherals–6.80%** | **Technology Hardware, Storage & Peripherals–6.80%** |
| Apple, Inc. | 4678 | 994075 |
|  |  | **994075** |
| **Tobacco–1.14%** | **Tobacco–1.14%** | **Tobacco–1.14%** |
| &nbsp;&nbsp; Philip Morris International, <br> Inc.<br>| 972 | 166562 |
|  |  | **166562** |
| **Total Common Stock** <br>**(Cost $14,564,649)** | **Total Common Stock** <br>**(Cost $14,564,649)** | **14043657** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*Lincoln U.S. Equity Income Maximizer Fund–2*

------

**Lincoln U.S. Equity Income Maximizer Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Number of**<br> **Shares**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Value**<br> **(U.S. $)**<br>|
| **MONEY MARKET FUND–0.00%** | **MONEY MARKET FUND–0.00%** | **MONEY MARKET FUND–0.00%** |
| &nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund - Premier Class <br> (seven-day effective yield <br> 4.29%)<br>| 76 | $76 |
| **Total Money Market Fund** <br>**(Cost $76)** | **Total Money Market Fund** <br>**(Cost $76)** | **76** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–96.11% (Cost $14,564,725)** | **$14043733** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Contracts**<br>| **Value** <br>**(U.S. $)**<br>|
| **OPTIONS WRITTEN–(0.03)%** | **OPTIONS WRITTEN–(0.03)%** | **OPTIONS WRITTEN–(0.03)%** |
| **Centrally Cleared–(0.03)%** | **Centrally Cleared–(0.03)%** | **Centrally Cleared–(0.03)%** |
| **Call Options–(0.03)%** | **Call Options–(0.03)%** | **Call Options–(0.03)%** |
| Abbott Laboratories Strike price $145.56, expiration date 05/15/2025, notional amount $(58224) | (4)<br>| $(9)<br>|
| AbbVie Strike price $217.68, expiration date 05/15/2025, notional amount $(65304) | (3)<br>| (30)<br>|
| Alphabet Strike price $186.91, expiration date 05/01/2025, notional amount $(149528) | (8)<br>| 0 |
| Alphabet Strike price $198.20, expiration date 05/15/2025, notional amount $(158560) | (8)<br>| (53)<br>|
| Amazon.com Strike price $225.37, expiration date 05/01/2025, notional amount $(157759) | (7)<br>| 0 |
| Amazon.com Strike price $237.29, expiration date 05/15/2025, notional amount $(166103) | (7)<br>| (66)<br>|
| Apple Strike price $240.67, expiration date 05/01/2025, notional amount $(264737) | (11)<br>| (2)<br>|
| Apple Strike price $244.37, expiration date 05/15/2025, notional amount $(219933) | (9)<br>| (190)<br>|
| Berkshire Hathaway Strike price $584.50, expiration date 05/15/2025, notional amount $(116900) | (2)<br>| (31)<br>|
| Broadcom Strike price $210.39, expiration date 05/01/2025, notional amount $(63117) | (3)<br>| 0 |
| Broadcom Strike price $237.01, expiration date 05/15/2025, notional amount $(71103) | (3)<br>| (49)<br>|
| Chevron Strike price $173.54, expiration date 05/15/2025, notional amount $(69416) | (4)<br>| (2)<br>|
| Cisco Systems Strike price $64.73, expiration date 05/01/2025, notional amount $(38838) | (6)<br>| 0 |
| DTE Energy Strike price $145.27, expiration date 05/15/2025, notional amount $(58108) | (4)<br>| (344)<br>|
| &nbsp;&nbsp; Hilton Worldwide Holdings Strike price $257.41, expiration date 05/01/2025, notional amount <br> $(25741)<br>| (1)<br>| 0 |
| &nbsp;&nbsp; Hilton Worldwide Holdings Strike price $261.86, expiration date 05/15/2025, notional amount <br> $(52372)<br>| (2)<br>| (9)<br>|
| Home Depot Strike price $414.99, expiration date 05/15/2025, notional amount $(82998) | (2)<br>| (2)<br>|
| Illinois Tool Works Strike price $270.63, expiration date 05/01/2025, notional amount $(27063) | (1)<br>| 0 |
| Illinois Tool Works Strike price $271.02, expiration date 05/15/2025, notional amount $(54204) | (2)<br>| (7)<br>|
| JPMorgan Chase & Strike price $272.79, expiration date 05/01/2025, notional amount $(81837) | (3)<br>| 0 |
| JPMorgan Chase & Strike price $285.66, expiration date 05/15/2025, notional amount $(85698) | (3)<br>| 0 |
| Linde PLC Strike price $516.88, expiration date 05/15/2025, notional amount $(103376) | (2)<br>| (11)<br>|
| Mastercard Strike price $601.30, expiration date 05/15/2025, notional amount $(120260) | (2)<br>| (40)<br>|
| Meta Platforms Strike price $742.76, expiration date 05/15/2025, notional amount $(148552) | (2)<br>| (55)<br>|
| Microsoft Strike price $422.81, expiration date 05/01/2025, notional amount $(211405) | (5)<br>| (85)<br>|
| Microsoft Strike price $454.22, expiration date 05/15/2025, notional amount $(136266) | (3)<br>| (57)<br>|
| NVIDIA Strike price $133.87, expiration date 05/01/2025, notional amount $(240966) | (18)<br>| 0 |
| &nbsp;&nbsp; Philip Morris International Strike price $172.78, expiration date 05/15/2025, notional amount <br> $(69112)<br>| (4)<br>| (933)<br>|
| Procter & Gamble Strike price $177.03, expiration date 05/15/2025, notional amount $(53109) | (3)<br>| (9)<br>|
| Sempra Strike price $75.70, expiration date 05/01/2025, notional amount $(60560) | (8)<br>| (95)<br>|
| Sempra Strike price $80.03, expiration date 05/15/2025, notional amount $(48018) | (6)<br>| (257)<br>|
| Tesla Strike price $380.50, expiration date 05/01/2025, notional amount $(76100) | (2)<br>| 0 |
| Tesla Strike price $413.25, expiration date 05/15/2025, notional amount $(82650) | (2)<br>| (43)<br>|
| Visa Strike price $379.30, expiration date 05/15/2025, notional amount $(75860) | (2)<br>| (22)<br>|

---

*Lincoln U.S. Equity Income Maximizer Fund–3*

------

**Lincoln U.S. Equity Income Maximizer Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Number of**<br> **Contracts**<br>| **Value**<br> **(U.S. $)**<br>|
| **OPTIONS WRITTEN (continued)** | **OPTIONS WRITTEN (continued)** | **OPTIONS WRITTEN (continued)** |
| **Centrally Cleared (continued)** | **Centrally Cleared (continued)** | **Centrally Cleared (continued)** |
| **Call Options (continued)** | **Call Options (continued)** | **Call Options (continued)** |
| Walmart Strike price $91.89, expiration date 05/01/2025, notional amount $(27567) | (3)<br>| $(1612)<br>|
| Wells Fargo & Strike price $81.13, expiration date 05/15/2025, notional amount $(81130) | (10)<br>| (42)<br>|
|  |  | **(4055)**<br>|
| **Total Options Written** <br>**(Premiums received $(18583))** | **Total Options Written** <br>**(Premiums received $(18583))** | **(4055)**<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–3.92%** | **572656** |
| **NET ASSETS APPLICABLE TO 1,511,252 SHARES OUTSTANDING–100.00%** | **$14612334** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

†Non-income producing.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Summary of Abbreviations:** |
| IT–Information Technology |
| REIT–Real Estate Investment Trust |

---

*Lincoln U.S. Equity Income Maximizer Fund–4*

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Lincoln Funds Trust

- **b. Investment Company Act file number:** 811-23952

- **c. CIK number of Registrant:** 0002015799

- **d. LEI of Registrant:** 25490047JKRSM3ZCKX41

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1301 S. Harrison Street

  - **City:** Fort Wayne

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 484-583-6302

**Item A.2. Information about the Series.**

- **a. Name of Series:** Lincoln U.S. Equity Income Maximizer Fund

- **b. EDGAR series identifier (if any):** S000085534

- **c. LEI of Series:** 254900WEXI6X53HIPE65

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $14676309.67

**Total Liabilities:** $63976.11

**Net Assets:** $14612333.56

**Cash Not Reported:** $536497.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250825 | -1.30%               | -5.88%               | -0.80%               |
| Class ID C000250826 | -1.31%               | -5.90%               | -0.82%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-221684.23                                |
| Month 2  | $0.00                    | $-934415.61                                |
| Month 3  | $-1391.40                | $-131872.62                                |

**Designated Index Information**

- **Index Name:** S&P 500 Index

- **Index Identifier:** SPX

### Schedule of Portfolio Investments

| Name                                 | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Morgan Stanley & Co. LLC             | PM US C 172.78                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -4 | NC      | $-933.02      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | BRKB US C 584.5                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-30.91       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                    | Cisco Systems Inc                                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      2628 | NS      | $151714.44    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                       | Salesforce Inc                                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       380 | NS      | $102109.80    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                           | Intuit Inc                                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       151 | NS      | $94747.97     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc            | United Parcel Service Inc                                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |       761 | NS      | $72523.30     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                        | Blackrock Inc                                              | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       141 | NS      | $128910.66    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                        | Accenture PLC                                              | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |       263 | NS      | $78676.45     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                   | Equity Residential                                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               |  | US        |      1331 | NS      | $93516.06     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | GOOG US C 198.2                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -8 | NC      | $-52.48       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                 | Progressive Corp/The                                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       390 | NS      | $109878.60    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                    | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      1405 | NS      | $219615.55    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | AMZN US C 225.37                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -7 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                   | Realty Income Corp                                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |      1925 | NS      | $111380.50    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                      | McDonald's Corp                                            | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       339 | NS      | $108361.35    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc               | UnitedHealth Group Inc                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       325 | NS      | $133718.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc      | Philip Morris International Inc                            | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |       972 | NS      | $166561.92    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | LIN US C 516.88                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-10.90       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp | International Business Machines Corp                       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       399 | NS      | $96486.18     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | AAPL US C 244.37                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -9 | NC      | $-189.50      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                     | Wells Fargo & Co                                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      2072 | NS      | $147132.72    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                   | NextEra Energy Inc                                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |       926 | NS      | $61930.88     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc        | Hilton Worldwide Holdings Inc                              | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       754 | NS      | $170011.92    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                           | AbbVie Inc                                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       778 | NS      | $151787.80    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | MSFT US C 454.22                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-56.47       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc         | Thermo Fisher Scientific Inc                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       227 | NS      | $97383.00     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                | Costco Wholesale Corp                                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       188 | NS      | $186966.00    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                | Uber Technologies Inc                                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |       972 | NS      | $78741.72     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | HLT US C 261.86                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-8.78        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc                | Micron Technology Inc                                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       523 | NS      | $40244.85     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | SRE US C 80.03                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -6 | NC      | $-256.63      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc/The | PNC Financial Services Group Inc/The                       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       608 | NS      | $97699.52     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | CSCO US C 64.73                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -6 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | WMT US C 91.89                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-1612.07     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                         | Comcast Corp                                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      2789 | NS      | $95383.80     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc           | Advanced Micro Devices Inc                                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       628 | NS      | $61135.80     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                          | PepsiCo Inc                                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |       881 | NS      | $119445.98    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                         | Prologis Inc                                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |       653 | NS      | $66736.60     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                             | Visa Inc                                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       628 | NS      | $216974.00    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                  | Elevance Health Inc                                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       212 | NS      | $89162.96     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | META US C 742.76                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-55.08       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The              | Procter & Gamble Co/The                                    | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      1039 | NS      | $168910.23    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | HLT US C 257.41                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -1 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                       | Lowe's Cos Inc                                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       387 | NS      | $86517.72     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                       | Microsoft Corp                                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      2248 | NS      | $888544.48    | 6.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                | Applied Materials Inc                                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       593 | NS      | $89371.03     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp            | Occidental Petroleum Corp                                  | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      3263 | NS      | $128594.83    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | ABBV US C 217.68                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-29.83       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | SRE US C 75.7                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -8 | NC      | $-94.83       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                          | NVIDIA Corp                                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      7539 | NS      | $821147.88    | 5.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                         | Chevron Corp                                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       933 | NS      | $126943.98    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                            | Adobe Inc                                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       163 | NS      | $61121.74     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                         | Alphabet Inc                                               | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      3226 | NS      | $519031.14    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                               | Sempra                                                     | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      2503 | NS      | $185897.81    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors         | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |        76 | NS      | $75.85        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                   | Walt Disney Co/The                                         | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |       898 | NS      | $81673.10     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                            | Linde PLC                                                  | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |       336 | NS      | $152285.28    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                          | Walmart Inc                                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      1553 | NS      | $151029.25    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                     | Exxon Mobil Corp                                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      1715 | NS      | $181155.45    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | AMZN US C 237.29                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -7 | NC      | $-66.40       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc            | Palantir Technologies Inc                                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |       871 | NS      | $103161.24    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | V US C 379.3                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-21.47       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | DTE US C 145.27                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -4 | NC      | $-344.44      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc               | Berkshire Hathaway Inc                                     | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       631 | NS      | $336480.75    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | JPM US C 272.79                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                          | Netflix Inc                                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       157 | NS      | $177680.04    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc               | Intuitive Surgical Inc                                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       220 | NS      | $113476.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                       | Mastercard Inc                                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       344 | NS      | $188532.64    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                             | AT&T Inc                                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      4395 | NS      | $121741.50    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                         | Broadcom Inc                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1575 | NS      | $303140.25    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                            | Amgen Inc                                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       264 | NS      | $76802.88     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                 | Bank of America Corp                                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      4085 | NS      | $162909.80    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                            | Tesla Inc                                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       875 | NS      | $246890.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | PG US C 177.03                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-9.09        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                   | Home Depot Inc/The                                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       470 | NS      | $169430.30    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                           | Intel Corp                                                 | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |      1825 | NS      | $36682.50     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | WFC US C 81.13                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -10 | NC      | $-41.97       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | MA US C 601.3                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-40.35       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | TSLA US C 413.25                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-43.37       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | ITW US C 271.02                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-7.28        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                  | Abbott Laboratories                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      1291 | NS      | $168798.25    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The          | Goldman Sachs Group Inc/The                                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       237 | NS      | $129769.35    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                       | ServiceNow Inc                                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       100 | NS      | $95501.00     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | HD US C 414.99                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $-2.39        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                  | General Electric Co                                        | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |       580 | NS      | $116893.20    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc              | Illinois Tool Works Inc                                    | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |       770 | NS      | $184730.70    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                   | Meta Platforms Inc                                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       664 | NS      | $364536.00    | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                           | Pfizer Inc                                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      3125 | NS      | $76281.25     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                          | Oracle Corp                                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |       520 | NS      | $73174.40     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                             | RTX Corp                                                   | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |       880 | NS      | $110994.40    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | GOOG US C 186.91                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -8 | NC      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc             | Crowdstrike Holdings Inc                                   | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       115 | NS      | $49320.05     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | JPM US C 285.66                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-0.42        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp                           | Dover Corp                                                 | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |       830 | NS      | $141639.50    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | ITW US C 270.63                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -1 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                  | VICI Properties Inc                                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |      3545 | NS      | $113510.90    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                       | Starbucks Corp                                             | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |       478 | NS      | $38263.90     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                              | PTC Inc                                                    | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |       748 | NS      | $115917.56    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                       | Morgan Stanley                                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1129 | NS      | $130309.18    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                   | Ingersoll Rand Inc                                         | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |      1255 | NS      | $94664.65     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | CVX US C 173.54                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -4 | NC      | $-2.21        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                      | Caterpillar Inc                                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       268 | NS      | $82884.36     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                         | QUALCOMM Inc                                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |       606 | NS      | $89966.76     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | ABT US C 145.56                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -4 | NC      | $-8.98        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                              | NVR Inc                                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        17 | NS      | $121137.75    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                            | Apple Inc                                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4678 | NS      | $994075.00    | 6.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                         | Danaher Corp                                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       386 | NS      | $76941.38     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | AVGO US C 237.01                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-48.80       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | NVDA US C 133.87                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -18 | NC      | $-0.15        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | AAPL US C 240.67                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -11 | NC      | $-2.02        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                 | Booking Holdings Inc                                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        19 | NS      | $96886.32     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                       | Merck & Co Inc                                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       960 | NS      | $81792.00     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | MSFT US C 422.81                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -5 | NC      | $-84.87       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                       | Eli Lilly & Co                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       258 | NS      | $231929.10    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | AVGO US C 210.39                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -3 | NC      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                  | JPMorgan Chase & Co                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1210 | NS      | $295990.20    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                       | Amazon.com Inc                                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      2936 | NS      | $541457.12    | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                        | DTE Energy Co                                              | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      1295 | NS      | $177415.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                  | American Express Co                                        | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       505 | NS      | $134537.05    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                       | Eaton Corp PLC                                             | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |       293 | NS      | $86250.41     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC             | TSLA US C 380.5                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |        -2 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-22

**Name of Applicant:** Lincoln Funds Trust

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP