Funds › Lindsell Train (Nick Train)Lindsell Train (Nick Train) 13F holdings, Q2 2026 Lindsell Train (Nick Train) disclosed 28 US equity positions worth $2.6bn in its Q2 2026 13F filing. Its largest position is GOOGL at 17.5% of the reported book, followed by TKO and FICO. Versus Q1 2026 it opened 2 new positions, added to 5, reduced 14 and exited 1.
$2.6bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
28 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
17.5% Largest position The largest single position as a share of the reported equity book.
90.7% Top 10 weight The ten largest positions together, as a share of the reported equity book.
10 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
67 Quarters on file since Q4 2009 Quarters for which this manager's 13F holdings are on record. Holdings Against Q1 2026: 2 new , 5 added , 14 reduced , 1 exited
28 rows
Stock Sector Weight Value Shares Δ shares Action GOOGL ALPHABET INC Communication Services 17.5% $460m 1.29m −25% reduced TKO TKO GROUP HOLDINGS INC Communication Services 16.1% $423m 2.10m −14% reduced FICO FAIR ISAAC CORP Technology 10.3% $270m 226,186 −9.3% reduced TMO THERMO FISHER SCIENTIFIC INC Healthcare 9.8% $258m 514,512 −17% reduced DIS DISNEY WALT CO Communication Services 9.5% $251m 2.61m −19% reduced INTU INTUIT Technology 6.6% $174m 666,883 −9.1% reduced MDLZ MONDELEZ INTL INC Consumer Defensive 5.6% $148m 2.57m −28% reduced PEP PEPSICO INC Consumer Defensive 5.3% $139m 1.02m −20% reduced PYPL PAYPAL HLDGS INC Financial Services 5.2% $137m 3.16m −24% reduced EBAY EBAY INC. Consumer Cyclical 4.7% $125m 1.12m −42% reduced MANCHESTER UTD PLC NEW no ticker – 2.4% $63.3m 2.76m −12% reduced KKR KKR & CO INC Financial Services 2.3% $61.3m 667,780 – new BF/A BROWN FORMAN CORP – 2.2% $58.4m 2.13m −17% reduced BF/B BROWN FORMAN CORP – 1.4% $36.8m 1.38m −12% reduced V VISA INC Financial Services 0.1% $3.6m 10,500 +1.9% added SPGI S&P GLOBAL INC Financial Services 0.1% $3.0m 7,400 +1.4% added CP CANADIAN PACIFIC KANSAS CITY Industrials 0.10% $2.6m 30,000 0.0% held AXP AMERICAN EXPRESS CO Financial Services 0.10% $2.6m 7,600 −16% reduced EFX EQUIFAX INC Industrials 0.07% $1.9m 11,800 +2.6% added VRSK VERISK ANALYTICS INC Industrials 0.06% $1.7m 9,500 +13% added CME CME GROUP INC Financial Services 0.06% $1.5m 6,900 0.0% held ADBE ADOBE INC Technology 0.05% $1.4m 7,000 0.0% held WMG WARNER MUSIC GROUP CORP Communication Services 0.05% $1.4m 50,000 – new ORCL ORACLE CORP Technology 0.05% $1.3m 9,000 0.0% held EL LAUDER ESTEE COS INC Consumer Defensive 0.05% $1.2m 15,000 0.0% held MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.04% $1.1m 2,800 0.0% held KO COCA COLA CO Consumer Defensive 0.04% $975k 12,000 0.0% held NKE NIKE INC Consumer Cyclical 0.03% $862k 21,000 +1.0% added
Exited since Q1 2026 1 row
Stock Prior weight Prior value CL COLGATE PALMOLIVE CO 0.03% $852k
Sector mix Communication Services 43.2% Technology 17.0% Consumer Defensive 11.0% Healthcare 9.8% Financial Services 7.9% Unclassified 6.0% Consumer Cyclical 4.8% Industrials 0.2% Book over time Every quarter on file (67) Where Lindsell Train (Nick Train) was early 6 rows
Stock First reported Entry rank Initial weight Peak weight Quarters held Status Stock since HSY HERSHEY CO Q1 2010 4 of 125 1.5% 2.4% 42 Exited by Q3 2025 +288% MDLZ MONDELEZ INTL INC Q4 2012 1 of 145 20.6% 31.8% 55 Held at last filing, Q2 2026 +127% PYPL PAYPAL HLDGS INC Q3 2015 4 of 322 8.9% 15.9% 44 Held at last filing, Q2 2026 +39% KHC KRAFT HEINZ COMPANY Q3 2015 7 of 173 4.4% 4.7% 11 Exited by Q2 2018 −12% BF/B BROWN FORMAN CORP Q1 2018 6 of 106 0.6% 1.8% 34 Held at last filing, Q2 2026 −51% TKO TKO GROUP HOLDINGS INC Q3 2023 3 of 142 10.0% 16.1% 12 Held at last filing, Q2 2026 +139%
Concentration and tenure
25.5% Median largest position, all quarters The largest single position as a share of the reported equity book.
99.7% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
11 Median completed holding, quarters