Funds › Lindsell Train (Nick Train) › Q1 2023Lindsell Train (Nick Train) 13F holdings, Q1 2023 Lindsell Train (Nick Train) disclosed 29 US equity positions worth $5.7bn in its Q1 2023 13F filing. Its largest position is MDLZ at 23.7% of the reported book, followed by WWEUSD and PEP. Versus Q4 2022 it opened 0 new positions, added to 10, reduced 6 and exited 0.
$5.7bn 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.
23.7% Largest position The largest single position as a share of the reported equity book.
99.2% 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 Q4 2022: 0 new , 10 added , 6 reduced , 0 exited
29 rows
Stock Sector Weight Value Shares Δ shares Action MDLZ MONDELEZ INTL INC Consumer Defensive 23.7% $1.4bn 19.52m −2.1% reduced WWEUSD WORLD WRESTLING ENTMT INC – 11.8% $676m 7.41m −0.8% reduced PEP PEPSICO INC Consumer Defensive 11.5% $658m 3.61m +1.3% added INTU INTUIT Technology 11.2% $642m 1.44m −1.0% reduced FICO FAIR ISAAC CORP Technology 10.7% $614m 873,197 −6.3% reduced DIS DISNEY WALT CO Communication Services 9.8% $564m 5.63m +3.7% added PYPL PAYPAL HLDGS INC Financial Services 7.1% $409m 5.38m +1.8% added EBAY EBAY INC. Consumer Cyclical 5.7% $328m 7.39m −1.7% reduced MANCHESTER UTD PLC NEW no ticker – 4.3% $245m 11.07m +0.4% held BF/A BROWN FORMAN CORP – 3.3% $191m 2.93m +0.1% held BF/B BROWN FORMAN CORP – 0.3% $18.7m 290,307 0.0% held EL LAUDER ESTEE COS INC Consumer Defensive 0.04% $2.3m 9,425 0.0% held CAZOO GROUP LTD no ticker – 0.04% $2.1m 829,032 −95% reduced AXP AMERICAN EXPRESS CO Financial Services 0.03% $1.9m 11,600 0.0% held EFX EQUIFAX INC Industrials 0.03% $1.9m 9,400 0.0% held ORCL ORACLE CORP Technology 0.03% $1.8m 19,200 +3.2% added GOOGL ALPHABET INC Communication Services 0.03% $1.7m 16,850 +5.3% added NKE NIKE INC Consumer Cyclical 0.03% $1.7m 13,900 0.0% held V VISA INC Financial Services 0.03% $1.5m 6,800 0.0% held SPGI S&P GLOBAL INC Financial Services 0.03% $1.5m 4,400 0.0% held CL COLGATE PALMOLIVE CO Consumer Defensive 0.02% $1.4m 18,100 +7.1% added KO COCA COLA CO Consumer Defensive 0.02% $1.3m 21,100 0.0% held VRSK VERISK ANALYTICS INC Industrials 0.02% $1.3m 6,800 +4.6% added HSY HERSHEY CO Consumer Defensive 0.02% $1.3m 5,100 0.0% held ADBE ADOBE INC Technology 0.02% $1.3m 3,360 +12% added JNJ JOHNSON & JOHNSON Healthcare 0.02% $1.2m 7,900 0.0% held CME CME GROUP INC Financial Services 0.02% $1.1m 5,900 +5.4% added TROW PRICE T ROWE GROUP INC Financial Services 0.02% $1.1m 9,800 +2.1% added MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.01% $643k 3,300 0.0% held
Sector mix Consumer Defensive 35.3% Technology 21.9% Unclassified 19.8% Communication Services 9.9% Financial Services 7.3% Consumer Cyclical 5.8% 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