Funds › Lindsell Train (Nick Train) › Q3 2022Lindsell Train (Nick Train) 13F holdings, Q3 2022 Lindsell Train (Nick Train) disclosed 29 US equity positions worth $4.9bn in its Q3 2022 13F filing. Its largest position is MDLZ at 23.2% of the reported book, followed by PEP and INTU. Versus Q2 2022 it opened 0 new positions, added to 5, reduced 7 and exited 0.
$4.9bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
29 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
23.2% Largest position The largest single position as a share of the reported equity book.
99.0% Top 10 weight The ten largest positions together, as a share of the reported equity book.
8 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 Q2 2022: 0 new , 5 added , 7 reduced , 0 exited
29 rows
Stock Sector Weight Value Shares Δ shares Action MDLZ MONDELEZ INTL INC Consumer Defensive 23.2% $1.1bn 20.80m −6.2% reduced PEP PEPSICO INC Consumer Defensive 12.4% $608m 3.72m −3.1% reduced INTU INTUIT Technology 11.9% $585m 1.51m −3.2% reduced WWEUSD WORLD WRESTLING ENTMT INC – 11.5% $568m 8.08m −10% reduced DIS DISNEY WALT CO Communication Services 10.5% $515m 5.45m −0.7% reduced PYPL PAYPAL HLDGS INC Financial Services 9.4% $461m 5.35m +1.5% added FICO FAIR ISAAC CORP Technology 7.7% $378m 916,905 +9.0% added EBAY EBAY INC. Consumer Cyclical 5.7% $278m 7.56m −1.0% reduced BF/A BROWN FORMAN CORP – 4.0% $199m 2.94m −0.8% reduced MANCHESTER UTD PLC NEW no ticker – 2.9% $145m 10.93m +1.2% added BF/B BROWN FORMAN CORP – 0.4% $19.4m 290,307 0.0% held CAZOO GROUP LTD no ticker – 0.2% $7.6m 16.58m 0.0% held EL LAUDER ESTEE COS INC Consumer Defensive 0.04% $1.9m 8,800 0.0% held EFX EQUIFAX INC Industrials 0.03% $1.6m 9,400 0.0% held AXP AMERICAN EXPRESS CO Financial Services 0.03% $1.6m 11,600 0.0% held GOOGL ALPHABET INC Communication Services 0.03% $1.5m 16,000 +1900% added SPGI S&P GLOBAL INC Financial Services 0.03% $1.3m 4,400 0.0% held JNJ JOHNSON & JOHNSON Healthcare 0.03% $1.3m 7,900 0.0% held V VISA INC Financial Services 0.02% $1.2m 6,800 +15% added CL COLGATE PALMOLIVE CO Consumer Defensive 0.02% $1.2m 16,900 0.0% held KO COCA COLA CO Consumer Defensive 0.02% $1.2m 21,100 0.0% held NKE NIKE INC Consumer Cyclical 0.02% $1.2m 13,900 0.0% held ORCL ORACLE CORP Technology 0.02% $1.1m 18,600 0.0% held HSY HERSHEY CO Consumer Defensive 0.02% $1.1m 5,100 0.0% held VRSK VERISK ANALYTICS INC Industrials 0.02% $1.1m 6,500 0.0% held TROW PRICE T ROWE GROUP INC Financial Services 0.02% $1.0m 9,600 0.0% held CME CME GROUP INC Financial Services 0.02% $992k 5,600 0.0% held ADBE ADOBE INC Technology 0.01% $688k 2,500 0.0% held MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.01% $451k 3,300 0.0% held
Sector mix Consumer Defensive 35.6% Technology 19.6% Unclassified 19.1% Communication Services 10.5% Financial Services 9.5% Consumer Cyclical 5.7% Industrials 0.06% Healthcare 0.03% 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