Lindsell Train Ltd

Superinvestor · Nick Train

CIK

1484150

Location

London, X0

Portfolio Value

Small $475,745,209

Diversification

Diversified

Filing Date

Global Rank

#906 / 8,578 ▼ 110

Top Industry

Entertainment 27.7%

3Y Alpha vs SPY

-11.5%

Period ended 3 months ago

Filed Apr 24, 2026 · 52d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+31.7%

SPY

+77.5%

Annualised alpha

-11.5%

Max drawdown

−16.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

26 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

16.0%

−0.8 pts

Top 5

61.8%

−0.8 pts

Top 10

95.3%

−0.7 pts

HHI

1,043

Diversified−21

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Communication Services	43.5%	$1,346,903,078	5
Technology	19.0%	$586,530,284	4
Consumer Defensive	15.4%	$475,745,209	6
Healthcare	9.8%	$303,377,722	1
Financial Services	6.5%	$200,022,637	5
Consumer Cyclical	5.7%	$176,538,340	2
Industrials	0.2%	$6,024,505	3

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
INTU	Intuit Inc.	+123,448	733,699	$317,236,773
FICO	Fair Isaac Corp	+32,829	249,422	$266,267,961
ADBE	Adobe Inc.	+1,700	7,000	$1,701,560
VRSK	Verisk Analytics, Inc.	+900	8,400	$1,593,900
SPGI	S&P Global Inc.	+500	7,300	$3,104,982
EFX	Equifax Inc	+500	11,500	$2,070,805
NKE	NIKE, Inc.	+400	20,800	$1,098,656
V	Visa Inc.	+300	10,300	$3,113,072
No positions match the current search.

Trimmed

Positions the filer reduced

16 positions

Ticker	Company	Δ Shares	Shares	Value
MDLZ	Mondelez International, Inc.	−917,890	3,561,964	$205,311,604
PEP	Pepsico Inc	−524,786	1,277,185	$198,334,058
MANU	Manchester United plc	−454,500	3,142,000	$52,848,440
GOOGL	Alphabet Inc.	−383,959	1,704,639	$490,185,990
TKO	TKO Group Holdings, Inc.	−370,736	2,449,468	$493,935,222
DIS	Walt Disney Co	−275,423	3,206,407	$309,033,506
BF-A	Brown Forman Corp	−157,518	2,585,222	$69,258,097
EBAY	Ebay Inc	−151,594	1,927,485	$175,439,684
PYPL	PayPal Holdings, Inc.	−118,995	4,179,623	$189,044,348
TMO	Thermo Fisher Scientific Inc.	−72,292	617,211	$303,377,722
KO	Coca Cola Co	−5,000	12,000	$912,600
CL	Colgate Palmolive Co	−4,600	10,000	$852,300
AXP	American Express Co	−800	9,000	$2,722,320
MSGS	Madison Square Garden Sports Corp.	−500	2,800	$899,920
EL	Estee Lauder Companies Inc	−500	15,000	$1,076,550
CME	Cme Group Inc.	−500	6,900	$2,037,915
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
TROW	Price T Rowe Group Inc	12,000	$1,228,560
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

6 positions · $475,745,209 total · Consumer Defensive only · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
MDLZ	Mondelez International, Inc. Consumer Defensive	Reduced	3,561,964	-917,890	$205,311,604	−14.9%	$57.91	43.16%
PEP	Pepsico Inc Consumer Defensive	Reduced	1,277,185	-524,786	$198,334,058	−23.3%	$155.82	41.69%
BF-A	Brown Forman Corp Consumer Defensive	Reduced	2,585,222	-157,518	$69,258,097	−4.0%	$27.21	14.56%
EL	Estee Lauder Companies Inc Consumer Defensive	Reduced	15,000	-500	$1,076,550	−33.7%	$102.18	0.23%
KO	Coca Cola Co Consumer Defensive	Reduced	12,000	-5,000	$912,600	−23.2%	$75.60	0.19%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	10,000	-4,600	$852,300	−26.1%	$89.13	0.18%