Funds › Lindsell Train (Nick Train) › Q1 2024Lindsell Train (Nick Train) 13F holdings, Q1 2024 Lindsell Train (Nick Train) disclosed 29 US equity positions worth $4.8bn in its Q1 2024 13F filing. Its largest position is MDLZ at 21.0% of the reported book, followed by FICO and INTU. Versus Q4 2023 it opened 0 new positions, added to 0, reduced 10 and exited 1.
$4.8bn 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.
21.0% 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 Q4 2023: 0 new , 0 added , 10 reduced , 1 exited
29 rows
Stock Sector Weight Value Shares Δ shares Action MDLZ MONDELEZ INTL INC Consumer Defensive 21.0% $1.0bn 14.28m −15% reduced FICO FAIR ISAAC CORP Technology 13.5% $642m 509,809 −16% reduced INTU INTUIT Technology 13.4% $637m 980,995 −10% reduced DIS DISNEY WALT CO Communication Services 12.9% $612m 5.06m −9.0% reduced PEP PEPSICO INC Consumer Defensive 11.0% $524m 3.02m −7.1% reduced TKO TKO GROUP HOLDINGS INC Communication Services 10.0% $476m 5.51m −6.4% reduced PYPL PAYPAL HLDGS INC Financial Services 6.7% $319m 4.79m −8.9% reduced EBAY EBAY INC. Consumer Cyclical 5.1% $243m 4.68m −16% reduced BF/A BROWN FORMAN CORP – 3.2% $151m 2.84m −3.2% reduced MANCHESTER UTD PLC NEW no ticker – 2.3% $109m 7.72m −30% reduced BF/B BROWN FORMAN CORP – 0.3% $15.1m 290,307 0.0% held EFX EQUIFAX INC Industrials 0.06% $2.7m 10,300 0.0% held AXP AMERICAN EXPRESS CO Financial Services 0.06% $2.6m 11,600 0.0% held GOOG ALPHABET INC Communication Services 0.05% $2.5m 16,850 0.0% held SPGI S&P GLOBAL INC Financial Services 0.05% $2.5m 5,900 0.0% held ORCL ORACLE CORP Technology 0.05% $2.4m 19,200 0.0% held V VISA INC Financial Services 0.05% $2.1m 7,700 0.0% held CME CME GROUP INC Financial Services 0.04% $1.9m 8,600 0.0% held CL COLGATE PALMOLIVE CO Consumer Defensive 0.04% $1.8m 20,100 0.0% held ADBE ADOBE INC Technology 0.04% $1.8m 3,560 0.0% held VRSK VERISK ANALYTICS INC Industrials 0.04% $1.7m 7,300 0.0% held EL LAUDER ESTEE COS INC Consumer Defensive 0.03% $1.7m 11,425 0.0% held NKE NIKE INC Consumer Cyclical 0.03% $1.5m 15,900 0.0% held TROW PRICE T ROWE GROUP INC Financial Services 0.03% $1.5m 12,000 0.0% held KO COCA COLA CO Consumer Defensive 0.03% $1.3m 21,100 0.0% held HSY HERSHEY CO Consumer Defensive 0.02% $988k 5,100 0.0% held JNJ JOHNSON & JOHNSON Healthcare 0.02% $959k 6,065 0.0% held MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.01% $609k 3,300 0.0% held KVUE KENVUE INC Consumer Defensive 0.01% $316k 14,739 0.0% held
Exited since Q4 2023 1 row
Stock Prior weight Prior value CAZOO GROUP LTD no ticker 0.0% $76.8k
Sector mix Consumer Defensive 32.2% Technology 27.0% Communication Services 22.9% Financial Services 6.9% Unclassified 5.8% Consumer Cyclical 5.1% Industrials 0.09% 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