Lincoln U.S. Equity Income Maximizer Fund
Schedule of Investments
April 30, 2026 (unaudited)
 
 
 
Number of
Shares
Value
(U.S. $)
COMMON STOCK–96.51%
Aerospace & Defense–1.71%
General Electric Co.
 
580
$168,159
RTX Corp.
 
880
154,942
 
 
323,101
Air Freight & Logistics–0.44%
United Parcel Service, Inc.
Class B
 
761
82,797
 
 
82,797
Automobiles–1.76%
†Tesla, Inc.
 
875
333,926
 
 
333,926
Banks–4.77%
Bank of America Corp.
 
4,085
218,384
JPMorgan Chase & Co.
 
1,210
379,008
PNC Financial Services
Group, Inc.
 
608
135,584
Wells Fargo & Co.
 
2,072
170,381
 
 
903,357
Beverages–0.74%
PepsiCo, Inc.
 
881
139,630
 
 
139,630
Biotechnology–1.35%
AbbVie, Inc.
 
778
164,407
Amgen, Inc.
 
264
91,410
 
 
255,817
Broadline Retail–4.11%
†Amazon.com, Inc.
 
2,936
778,216
 
 
778,216
Capital Markets–3.09%
Blackrock, Inc.
 
141
150,250
Goldman Sachs Group, Inc.
 
237
218,933
Morgan Stanley
 
1,129
215,176
 
 
584,359
Chemicals–0.89%
Linde PLC
 
336
168,383
 
 
168,383
Communications Equipment–1.27%
Cisco Systems, Inc.
 
2,628
240,462
 
 
240,462
Consumer Finance–0.86%
American Express Co.
 
505
163,140
 
 
163,140
 
 
Number of
Shares
Value
(U.S. $)
COMMON STOCK (continued)
Consumer Staples Distribution & Retail–2.09%
Costco Wholesale Corp.
 
188
$190,732
Walmart, Inc.
 
1,553
204,887
 
 
395,619
Diversified Telecommunication Services–1.00%
AT&T, Inc.
 
4,395
114,841
Comcast Corp. Class A
 
2,789
75,415
 
 
190,256
Electric Utilities–0.48%
NextEra Energy, Inc.
 
926
90,637
 
 
90,637
Electrical Equipment–0.67%
Eaton Corp. PLC
 
293
126,872
 
 
126,872
Entertainment–1.27%
†Netflix, Inc.
 
1,570
146,968
Walt Disney Co.
 
898
93,167
 
 
240,135
Financial Services–3.59%
†Berkshire Hathaway, Inc.
Class B
 
631
298,842
Mastercard, Inc. Class A
 
344
173,004
Visa, Inc. Class A
 
628
207,140
 
 
678,986
Ground Transportation–0.38%
†Uber Technologies, Inc.
 
972
72,521
 
 
72,521
Health Care Equipment & Supplies–1.15%
Abbott Laboratories
 
1,291
117,210
†Intuitive Surgical, Inc.
 
220
100,674
 
 
217,884
Health Care Providers & Services–1.06%
Elevance Health, Inc.
 
212
79,801
UnitedHealth Group, Inc.
 
325
120,406
 
 
200,207
Hotels, Restaurants & Leisure–2.50%
Booking Holdings, Inc.
 
475
79,971
Hilton Worldwide Holdings,
Inc.
 
754
244,349
McDonald's Corp.
 
339
99,527
Starbucks Corp.
 
478
50,347
 
 
474,194
Household Durables–0.13%
†NVR, Inc.
 
4
25,263
 
 
25,263
Lincoln U.S. Equity Income Maximizer Fund–1
Lincoln U.S. Equity Income Maximizer Fund
Schedule of Investments (continued)
 
 
Number of
Shares
Value
(U.S. $)
COMMON STOCK (continued)
Household Products–0.81%
Procter & Gamble Co.
 
1,039
$152,826
 
 
152,826
Industrial REITs–0.49%
Prologis, Inc.
 
653
92,739
 
 
92,739
Insurance–0.41%
Progressive Corp.
 
390
78,499
 
 
78,499
Interactive Media & Services–8.66%
Alphabet, Inc. Class C
 
3,226
1,232,139
Meta Platforms, Inc. Class A
 
664
406,308
 
 
1,638,447
IT Services–0.74%
Accenture PLC Class A
 
263
47,001
International Business
Machines Corp.
 
399
92,161
 
 
139,162
Life Sciences Tools & Services–0.94%
Danaher Corp.
 
386
69,075
Thermo Fisher Scientific,
Inc.
 
227
108,724
 
 
177,799
Machinery–4.77%
Caterpillar, Inc.
 
468
416,572
Dover Corp.
 
830
187,920
Illinois Tool Works, Inc.
 
770
198,668
Ingersoll Rand, Inc.
 
1,255
100,224
 
 
903,384
Multi-Utilities–2.30%
DTE Energy Co.
 
1,295
196,439
Sempra
 
2,503
238,085
 
 
434,524
Oil, Gas & Consumable Fuels–3.40%
Chevron Corp.
 
933
180,358
Exxon Mobil Corp.
 
1,715
264,676
Occidental Petroleum Corp.
 
3,263
197,673
 
 
642,707
Pharmaceuticals–3.97%
Eli Lilly & Co.
 
258
241,127
Johnson & Johnson
 
1,405
322,939
Merck & Co., Inc.
 
960
104,813
Pfizer, Inc.
 
3,125
83,437
 
 
752,316
 
 
Number of
Shares
Value
(U.S. $)
COMMON STOCK (continued)
Residential REITs–0.46%
Equity Residential
 
1,331
$87,021
 
 
87,021
Retail REITs–0.65%
Realty Income Corp.
 
1,925
123,662
 
 
123,662
Semiconductors & Semiconductor Equipment–16.33%
†Advanced Micro Devices, Inc.
 
628
222,620
Applied Materials, Inc.
 
393
155,035
Broadcom, Inc.
 
1,575
657,452
†Intel Corp.
 
1,825
172,426
Micron Technology, Inc.
 
523
270,475
NVIDIA Corp.
 
7,539
1,504,558
QUALCOMM, Inc.
 
606
108,825
 
 
3,091,391
Software–7.86%
†Adobe, Inc.
 
163
40,114
†AppLovin Corp. Class A
 
81
36,154
†Crowdstrike Holdings, Inc.
Class A
 
115
51,261
Intuit, Inc.
 
151
58,664
Microsoft Corp.
 
2,248
916,690
Oracle Corp.
 
520
83,923
†Palantir Technologies, Inc.
Class A
 
871
121,165
†PTC, Inc.
 
508
69,240
Salesforce, Inc.
 
380
67,081
†ServiceNow, Inc.
 
500
44,155
 
 
1,488,447
Specialized REITs–0.55%
VICI Properties, Inc.
 
3,545
103,514
 
 
103,514
Specialty Retail–1.30%
Home Depot, Inc.
 
470
154,536
Lowe's Cos., Inc.
 
387
92,412
 
 
246,948
Technology Hardware, Storage & Peripherals–6.71%
Apple, Inc.
 
4,678
1,269,375
 
 
1,269,375
Tobacco–0.85%
Philip Morris International,
Inc.
 
972
160,448
 
 
160,448
Total Common Stock
(Cost $14,601,777)
18,268,971
 
Lincoln U.S. Equity Income Maximizer Fund–2
Lincoln U.S. Equity Income Maximizer Fund
Schedule of Investments (continued)
 
 
Number of
Shares
Value
(U.S. $)
MONEY MARKET FUND–0.00%
State Street Institutional
U.S. Government Money
Market Fund -Premier Class
(seven-day effective yield
3.60%)
 
79
$79
Total Money Market Fund
(Cost $79)
79
 
 
TOTAL INVESTMENTS–96.51% (Cost $14,601,856)
$18,269,050
 
 
 
Number of
Contracts
Value
(U.S. $)
OPTIONS WRITTEN–(0.27)%
Centrally Cleared–(0.27)%
Call Options–(0.27)%
AbbVie, Inc. Strike price $222.78, expiration date 06/04/2026, notional amount $(44,556)
 
(2
)
$(656
)
Advanced Micro Devices, Inc. Strike price $442.60, expiration date 06/04/2026, notional amount $(132,780)
 
(3
)
(2,065
)
Alphabet, Inc. Strike price $386.25, expiration date 05/21/2026, notional amount $(309,000)
 
(8
)
(7,835
)
Alphabet, Inc. Strike price $402.16, expiration date 06/04/2026, notional amount $(321,728)
 
(8
)
(5,521
)
Amazon.com, Inc. Strike price $290.60, expiration date 05/21/2026, notional amount $(232,480)
 
(8
)
(878
)
Amazon.com, Inc. Strike price $303.51, expiration date 06/04/2026, notional amount $(242,808)
 
(8
)
(748
)
Apple, Inc. Strike price $294.17, expiration date 05/21/2026, notional amount $(235,336)
 
(8
)
(1,018
)
Apple, Inc. Strike price $299.35, expiration date 06/04/2026, notional amount $(269,415)
 
(9
)
(1,231
)
Applied Materials, Inc. Strike price $496.77, expiration date 05/21/2026, notional amount $(99,354)
 
(2
)
(426
)
Applied Materials, Inc. Strike price $509.27, expiration date 06/04/2026, notional amount $(50,927)
 
(1
)
(327
)
Broadcom, Inc. Strike price $473.72, expiration date 05/21/2026, notional amount $(189,488)
 
(4
)
(1,111
)
Broadcom, Inc. Strike price $511.01, expiration date 06/04/2026, notional amount $(204,404)
 
(4
)
(1,296
)
Caterpillar, Inc. Strike price $880.07, expiration date 05/21/2026, notional amount $(176,014)
 
(2
)
(7,753
)
Caterpillar, Inc. Strike price $957.89, expiration date 06/04/2026, notional amount $(191,578)
 
(2
)
(3,425
)
Chevron Corp. Strike price $207.76, expiration date 06/04/2026, notional amount $(62,328)
 
(3
)
(658
)
Cisco Systems, Inc. Strike price $91.89, expiration date 05/21/2026, notional amount $(101,079)
 
(11
)
(3,797
)
Eaton Corp. PLC Strike price $486.07, expiration date 06/04/2026, notional amount $(97,214)
 
(2
)
(886
)
Eli Lilly & Co. Strike price $1,056.05, expiration date 06/04/2026, notional amount $(211,210)
 
(2
)
(1,496
)
Exxon Mobil Corp. Strike price $165.43, expiration date 05/21/2026, notional amount $(82,715)
 
(5
)
(661
)
Exxon Mobil Corp. Strike price $168.16, expiration date 06/04/2026, notional amount $(84,080)
 
(5
)
(842
)
General Electric Co. Strike price $333.22, expiration date 06/04/2026, notional amount $(66,644)
 
(2
)
(393
)
General Electric Co. Strike price $357.85, expiration date 05/21/2026, notional amount $(71,570)
 
(2
)
(43
)
Hilton Worldwide Holdings, Inc. Strike price $350.43, expiration date 06/04/2026, notional amount $(105,129)
 
(3
)
(671
)
Meta Platforms, Inc. Strike price $799.72, expiration date 05/21/2026, notional amount $(159,944)
 
(2
)
(54
)
Meta Platforms, Inc. Strike price $807.89, expiration date 06/04/2026, notional amount $(161,578)
 
(2
)
(92
)
Micron Technology, Inc. Strike price $664.04, expiration date 05/21/2026, notional amount $(132,808)
 
(2
)
(941
)
Micron Technology, Inc. Strike price $746.59, expiration date 06/04/2026, notional amount $(149,318)
 
(2
)
(859
)
Microsoft Corp. Strike price $489.52, expiration date 05/21/2026, notional amount $(293,712)
 
(6
)
(185
)
Microsoft Corp. Strike price $515.66, expiration date 06/04/2026, notional amount $(309,396)
 
(6
)
(182
)
Morgan Stanley Strike price $206.76, expiration date 05/21/2026, notional amount $(82,704)
 
(4
)
(213
)
Netflix, Inc. Strike price $126.98, expiration date 05/21/2026, notional amount $(76,188)
 
(6
)
(9
)
NVIDIA Corp. Strike price $232.34, expiration date 05/21/2026, notional amount $(464,680)
 
(20
)
(1,269
)
NVIDIA Corp. Strike price $258.81, expiration date 06/04/2026, notional amount $(388,215)
 
(15
)
(643
)
Palantir Technologies, Inc. Strike price $186.21, expiration date 06/04/2026, notional amount $(111,726)
 
(6
)
(544
)
RTX Corp. Strike price $220.75, expiration date 05/21/2026, notional amount $(88,300)
 
(4
)
(14
)
Tesla, Inc. Strike price $459.35, expiration date 06/04/2026, notional amount $(91,870)
 
(2
)
(473
)
Tesla, Inc. Strike price $508.87, expiration date 05/21/2026, notional amount $(101,774)
 
(2
)
(80
)
Walmart, Inc. Strike price $136.34, expiration date 05/21/2026, notional amount $(95,438)
 
(7
)
(1,625
)
 
 
(50,920
)
Total Options Written
(Premiums received $(33,033))
(50,920
)
 
Lincoln U.S. Equity Income Maximizer Fund–3
Lincoln U.S. Equity Income Maximizer Fund
Schedule of Investments (continued)
RECEIVABLES AND OTHER ASSETS NET OF LIABILITIES–3.76%
711,612
NET ASSETS APPLICABLE TO 1,516,779 SHARES OUTSTANDING–100.00%
$18,929,742
 
†Non-income producing.
 
Summary of Abbreviations:
IT–Information Technology
REIT–Real Estate Investment Trust
Lincoln U.S. Equity Income Maximizer Fund–4