Funds › Lindsell Train (Nick Train) › Q4 2021Lindsell Train (Nick Train) 13F holdings, Q4 2021 Lindsell Train (Nick Train) disclosed 28 US equity positions worth $6.9bn in its Q4 2021 13F filing. Its largest position is MDLZ at 25.4% of the reported book, followed by INTU and PEP. Versus Q3 2021 it opened 1 new position, added to 4, reduced 5 and exited 0.
$6.9bn 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.
25.4% Largest position The largest single position as a share of the reported equity book.
99.3% Top 10 weight The ten largest positions together, as a share of the reported equity book.
7 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 Q3 2021: 1 new , 4 added , 5 reduced , 0 exited
28 rows
Stock Sector Weight Value Shares Δ shares Action MDLZ MONDELEZ INTL INC Consumer Defensive 25.4% $1.7bn 26.39m −11% reduced INTU INTUIT Technology 14.5% $1.0bn 1.56m −15% reduced PEP PEPSICO INC Consumer Defensive 12.4% $859m 4.95m −12% reduced DIS DISNEY WALT CO Communication Services 12.4% $859m 5.55m +1.0% added PYPL PAYPAL HLDGS INC Financial Services 11.5% $791m 4.19m +4.4% added EBAY EBAY INC. Consumer Cyclical 8.3% $576m 8.66m −5.3% reduced WWEUSD WORLD WRESTLING ENTMT INC – 8.2% $563m 11.40m +1.7% added BF/A BROWN FORMAN CORP – 2.9% $198m 2.93m +2.8% added MANCHESTER UTD PLC NEW no ticker – 2.2% $154m 10.85m −4.0% reduced CAZOO GROUP LTD no ticker – 1.4% $100.0m 16.58m – new BF/B BROWN FORMAN CORP – 0.3% $21.2m 290,307 0.0% held EL LAUDER ESTEE COS INC Consumer Defensive 0.05% $3.3m 8,800 0.0% held EFX EQUIFAX INC Industrials 0.04% $2.8m 9,400 0.0% held GOOGL ALPHABET INC Communication Services 0.03% $2.3m 800 0.0% held NKE NIKE INC Consumer Cyclical 0.03% $2.3m 13,900 0.0% held SPGI S&P GLOBAL INC Financial Services 0.03% $2.1m 4,400 0.0% held AXP AMERICAN EXPRESS CO Financial Services 0.03% $1.9m 11,600 0.0% held TROW PRICE T ROWE GROUP INC Financial Services 0.03% $1.9m 9,600 0.0% held ORCL ORACLE CORP Technology 0.02% $1.6m 18,600 0.0% held VRSK VERISK ANALYTICS INC Industrials 0.02% $1.5m 6,500 0.0% held CL COLGATE PALMOLIVE CO Consumer Defensive 0.02% $1.4m 16,900 0.0% held ADBE ADOBE INC Technology 0.02% $1.4m 2,500 0.0% held JNJ JOHNSON & JOHNSON Healthcare 0.02% $1.4m 7,900 0.0% held CME CME GROUP INC Financial Services 0.02% $1.3m 5,600 0.0% held V VISA INC Financial Services 0.02% $1.3m 5,900 0.0% held KO COCA COLA CO Consumer Defensive 0.02% $1.2m 21,100 0.0% held HSY HERSHEY CO Consumer Defensive 0.01% $987k 5,100 0.0% held MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.01% $573k 3,300 0.0% held
Sector mix Consumer Defensive 37.9% Unclassified 15.0% Technology 14.5% Communication Services 12.5% Financial Services 11.6% Consumer Cyclical 8.4% Industrials 0.06% Healthcare 0.02% 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