[Form 3/A] LINCOLN NATIONAL CORP Amended Initial Statement of Beneficial Ownership

Lincoln National Life Insurance Company and its parent Lincoln National Corporation filed an amended Form 3 for Lincoln Partners Group Royalty Fund (LNPIX), updating their reported ownership as of September 24, 2025.

Rhea-AI Filing Summary

Lincoln National Life Insurance Company and its parent Lincoln National Corporation filed an amended Form 3 for Lincoln Partners Group Royalty Fund (LNPIX), updating their reported ownership as of September 24, 2025. The filing shows LNL directly holds 5,229,738.249 Class I shares of beneficial interest and 1,000 shares each of Class A, Class D, and Class IS. A footnote explains that LNL is a wholly owned subsidiary of LNC, making LNC an indirect beneficial owner of these securities.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider LINCOLN NATIONAL LIFE INSURANCE CO /IN/, LINCOLN NATIONAL CORP

Role 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
holding	Class I shares of beneficial interest	--	--	--
holding	Class A shares of beneficial interest	--	--	--
holding	Class D shares of beneficial interest	--	--	--
holding	Class IS shares of beneficial interest	--	--	--

Holdings After Transaction: Class I shares of beneficial interest — 5,229,738.249 shares (Direct); Class A shares of beneficial interest — 1,000 shares (Direct); Class D shares of beneficial interest — 1,000 shares (Direct); Class IS shares of beneficial interest — 1,000 shares (Direct)

Footnotes (2)

1. F1. This amended Form 3 is being filed to (i) include shares that were omitted from The Lincoln National Life Insurance Company's ("LNL") original Form 3 and (ii) include Lincoln National Corporation, an Indiana corporation ("LNC"), as an additional reporting person in light of its indirect beneficial ownership of the reported securities as described in footnote (2) to this report.
2. F2. These shares are directly owned by LNL, which is a wholly owned subsidiary of its parent holding company, LNC. LNC is an indirect beneficial owner of the reported securities.

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Accepted by SEC EDGAR 02/27/2026 - 10:08 AM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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hours per response:			0.5

1. Name and Address of Reporting Person^*

LINCOLN NATIONAL LIFE INSURANCE CO /IN/

(Last) (First) (Middle)

1300 SOUTH CLINTON ST.

(Street)

FORT WAYNE IN 46802

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/24/2025

3. Issuer Name and Ticker or Trading Symbol
Lincoln Partners Group Royalty Fund [ LNPIX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)
09/19/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class I shares of beneficial interest	5,229,738.249(1)	D(2)
Class A shares of beneficial interest	1,000(1)	D(2)
Class D shares of beneficial interest	1,000(1)	D(2)
Class IS shares of beneficial interest	1,000(1)	D(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

LINCOLN NATIONAL LIFE INSURANCE CO /IN/

(Last) (First) (Middle)

1300 SOUTH CLINTON ST.

(Street)

FORT WAYNE IN 46802

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

LINCOLN NATIONAL CORP

(Last) (First) (Middle)

150 N. RADNOR CHESTER ROAD

(Street)

RADNOR PA 19087

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. This amended Form 3 is being filed to (i) include shares that were omitted from The Lincoln National Life Insurance Company's ("LNL") original Form 3 and (ii) include Lincoln National Corporation, an Indiana corporation ("LNC"), as an additional reporting person in light of its indirect beneficial ownership of the reported securities as described in footnote (2) to this report.

2. These shares are directly owned by LNL, which is a wholly owned subsidiary of its parent holding company, LNC. LNC is an indirect beneficial owner of the reported securities.

	Name of Reporting Person: The Lincoln National Life Insurance Company, /s/ Gordon Huellmantel, Gordon Huellmantel, Senior Vice President	02/27/2026
	Name of Reporting Person: Lincoln National Coroporation, /s/ Gordon Huellmantel, Gordon Huellmantel, Senior Vice President	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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