LINCOLN NATL CORP IND

Ticker: LNC CUSIP: 534187109 Class: EQTY

OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC's Holding History (CIK: 0001005607)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 3,600 Value ($000) $208 Avg Close $36.59 Range $30.42 - $39.78

Q3 2013

Shares 6,450 Value ($000) $271 Avg Close $27.94 Range $24.24 - $30.10

Q2 2013

Shares 6,550 Value ($000) $239 Avg Close $22.50 Range $19.83 - $24.26

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	3,600	$208	$36.59	$30.42 - $39.78
Q3 2013	6,450	$271	$27.94	$24.24 - $30.10
Q2 2013	6,550	$239	$22.50	$19.83 - $24.26