Lincoln Capital 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M CO	COM	88579Y101	393	1,866	SH		SOLE		0	0	1,866
ABBVIE INC	COM	00287Y109	208	2,204	SH		SOLE		106	0	2,098
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	473	2,780	SH		SOLE		0	0	2,780
ALPHABET INC	CAP STK CL C	02079K107	826	692	SH		SOLE		10	0	682
ALPHABET INC	CAP STK CL A	02079K305	9,542	7,905	SH		SOLE		7	0	7,898
AMAZON COM INC	COM	023135106	6,624	3,307	SH		SOLE		0	0	3,307
AMERICAN EXPRESS CO	COM	025816109	1,141	10,714	SH		SOLE		0	0	10,714
AMERICAN TOWER CORP NEW	COM	03027X100	392	2,700	SH		SOLE		0	0	2,700
AMPHENOL CORP NEW	CL A	032095101	564	6,000	SH		SOLE		0	0	6,000
APPLE INC	COM	037833100	604	2,677	SH		SOLE		29	0	2,648
ARCHER DANIELS MIDLAND CO	COM	039483102	452	8,999	SH		SOLE		0	0	8,999
AUTOMATIC DATA PROCESSING IN	COM	053015103	383	2,543	SH		SOLE		0	0	2,543
BANK NEW YORK MELLON CORP	COM	064058100	5,559	109,028	SH		SOLE		190	0	108,838
BECTON DICKINSON & CO	COM	075887109	5,019	19,229	SH		SOLE		0	0	19,228
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	14,371	67,121	SH		SOLE		0	0	67,121
BLACKROCK INC	COM	09247X101	6,754	14,329	SH		SOLE		20	0	14,309
CERNER CORP	COM	156782104	300	4,660	SH		SOLE		0	0	4,660
CHUBB LIMITED	COM	H1467J104	764	5,720	SH		SOLE		0	0	5,720
CISCO SYS INC	COM	17275R102	220	4,526	SH		SOLE		0	0	4,526
COCA COLA CO	COM	191216100	4,526	97,992	SH		SOLE		0	0	97,991
COLFAX CORP	COM	194014106	6,007	166,592	SH		SOLE		0	0	166,592
COLGATE PALMOLIVE CO	COM	194162103	739	11,034	SH		SOLE		0	0	11,034
CONOCOPHILLIPS	COM	20825C104	235	3,035	SH		SOLE		35	0	3,000
COSTCO WHSL CORP NEW	COM	22160K105	9,571	40,749	SH		SOLE		0	0	40,748
DANAHER CORP DEL	COM	235851102	8,653	79,630	SH		SOLE		0	0	79,630
DEERE & CO	COM	244199105	534	3,555	SH		SOLE		0	0	3,555
DIAGEO P L C	SPON ADR NEW	25243Q205	10,435	73,655	SH		SOLE		70	0	73,584
DISNEY WALT CO	COM DISNEY	254687106	9,872	84,416	SH		SOLE		118	0	84,298
DOWDUPONT INC	COM	26078J100	417	6,486	SH		SOLE		0	0	6,485
ECOLAB INC	COM	278865100	1,064	6,787	SH		SOLE		0	0	6,787
EXXON MOBIL CORP	COM	30231G102	1,569	18,457	SH		SOLE		0	0	18,457
FACEBOOK INC	CL A	30303M102	1,451	8,824	SH		SOLE		0	0	8,824
HERSHEY CO	COM	427866108	339	3,321	SH		SOLE		0	0	3,321
HOME DEPOT INC	COM	437076102	635	3,064	SH		SOLE		0	0	3,064
INTEL CORP	COM	458140100	278	5,872	SH		SOLE		0	0	5,872
INTERNATIONAL BUSINESS MACHS	COM	459200101	272	1,802	SH		SOLE		0	0	1,802
ISHARES SILVER TRUST	ISHARES	46428Q109	513	37,375	SH		SOLE		0	0	37,375
ISHARES TR	RUSSELL 2000 ETF	464287655	202	1,200	SH		SOLE		0	0	1,200
JOHNSON & JOHNSON	COM	478160104	4,400	31,842	SH		SOLE		0	0	31,842
KRAFT HEINZ CO	COM	500754106	458	8,309	SH		SOLE		175	0	8,134
MARKEL CORP	COM	570535104	16,083	13,532	SH		SOLE		23	0	13,509
MASTERCARD INCORPORATED	CL A	57636Q104	15,508	69,666	SH		SOLE		41	0	69,625
MCCORMICK & CO INC	COM NON VTG	579780206	297	2,257	SH		SOLE		0	0	2,257
MCDONALDS CORP	COM	580135101	5,695	34,046	SH		SOLE		0	0	34,045
MEDTRONIC PLC	SHS	G5960L103	211	2,140	SH		SOLE		0	0	2,140
METTLER TOLEDO INTERNATIONAL	COM	592688105	350	575	SH		SOLE		0	0	575
MICROSOFT CORP	COM	594918104	5,419	47,382	SH		SOLE		0	0	47,382
NORTHERN TR CORP	COM	665859104	356	3,488	SH		SOLE		0	0	3,488
PEPSICO INC	COM	713448108	1,457	13,030	SH		SOLE		0	0	13,030
PFIZER INC	COM	717081103	498	11,302	SH		SOLE		0	0	11,302
PHILIP MORRIS INTL INC	COM	718172109	235	2,881	SH		SOLE		0	0	2,881
PHILLIPS 66	COM	718546104	9,014	79,965	SH		SOLE		171	0	79,794
PRAXAIR INC	COM	74005P104	1,093	6,799	SH		SOLE		0	0	6,799
PRICE T ROWE GROUP INC	COM	74144T108	263	2,406	SH		SOLE		0	0	2,406
PROCTER AND GAMBLE CO	COM	742718109	971	11,666	SH		SOLE		0	0	11,666
ROPER TECHNOLOGIES INC	COM	776696106	296	1,000	SH		SOLE		0	0	1,000
SABRE CORP	COM	78573M104	439	16,826	SH		SOLE		0	0	16,826
SCHEIN HENRY INC	COM	806407102	553	6,500	SH		SOLE		0	0	6,500
SPDR GOLD TRUST	GOLD SHS	78463V107	497	4,410	SH		SOLE		0	0	4,410
STARBUCKS CORP	COM	855244109	10,003	175,989	SH		SOLE		0	0	175,989
STRYKER CORP	COM	863667101	267	1,500	SH		SOLE		0	0	1,500
SYSCO CORP	COM	871829107	214	2,915	SH		SOLE		0	0	2,915
TRAVELERS COMPANIES INC	COM	89417E109	2,123	16,371	SH		SOLE		0	0	16,370
UNILEVER PLC	SPON ADR NEW	904767704	2,380	43,300	SH		SOLE		0	0	43,300
UNION PAC CORP	COM	907818108	2,094	12,858	SH		SOLE		125	0	12,733
UNITED PARCEL SERVICE INC	CL B	911312106	1,078	9,234	SH		SOLE		0	0	9,234
UNITED TECHNOLOGIES CORP	COM	913017109	5,065	36,226	SH		SOLE		0	0	36,225
US BANCORP DEL	COM NEW	902973304	228	4,319	SH		SOLE		0	0	4,319
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	251	3,112	SH		SOLE		112	0	3,000
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	265	6,474	SH		SOLE		0	0	6,474
VISA INC	COM CL A	92826C839	256	1,703	SH		SOLE		0	0	1,703
WALMART INC	COM	931142103	598	6,364	SH		SOLE		0	0	6,364
WASTE CONNECTIONS INC	COM	94106B101	404	5,062	SH		SOLE		0	0	5,062
WELLS FARGO CO NEW	COM	949746101	326	6,205	SH		SOLE		0	0	6,205
XYLEM INC	COM	98419M100	358	4,488	SH		SOLE		0	0	4,488