Funds › Lindsell Train (Nick Train) › Q4 2024Lindsell Train (Nick Train) 13F holdings, Q4 2024 Lindsell Train (Nick Train) disclosed 28 US equity positions worth $4.0bn in its Q4 2024 13F filing. Its largest position is TKO at 12.9% of the reported book, followed by FICO and MDLZ. Versus Q3 2024 it opened 1 new position, added to 0, reduced 10 and exited 2.
$4.0bn 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.
12.9% Largest position The largest single position as a share of the reported equity book.
95.1% 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 Q3 2024: 1 new , 0 added , 10 reduced , 2 exited
28 rows
Stock Sector Weight Value Shares Δ shares Action TKO TKO GROUP HOLDINGS INC Communication Services 12.9% $516m 3.63m −20% reduced FICO FAIR ISAAC CORP Technology 12.7% $509m 255,520 −13% reduced MDLZ MONDELEZ INTL INC Consumer Defensive 12.6% $502m 8.41m −18% reduced DIS DISNEY WALT CO Communication Services 12.4% $496m 4.46m −18% reduced INTU INTUIT Technology 12.1% $484m 769,617 −16% reduced PEP PEPSICO INC Consumer Defensive 9.7% $389m 2.56m −7.7% reduced PYPL PAYPAL HLDGS INC Financial Services 9.1% $366m 4.28m −6.7% reduced EBAY EBAY INC. Consumer Cyclical 5.6% $226m 3.65m −11% reduced TMO THERMO FISHER SCIENTIFIC INC Healthcare 5.3% $212m 407,240 – new BF/A BROWN FORMAN CORP – 2.6% $105m 2.80m −2.7% reduced MANCHESTER UTD PLC NEW no ticker – 2.5% $100m 5.78m −9.3% reduced BF/B BROWN FORMAN CORP – 1.6% $62.1m 1.63m −0.3% held V VISA INC Financial Services 0.09% $3.5m 11,200 0.0% held AXP AMERICAN EXPRESS CO Financial Services 0.09% $3.4m 11,600 0.0% held GOOG ALPHABET INC Communication Services 0.08% $3.4m 17,750 0.0% held ORCL ORACLE CORP Technology 0.08% $3.2m 19,200 0.0% held SPGI S&P GLOBAL INC Financial Services 0.07% $2.9m 5,900 0.0% held EFX EQUIFAX INC Industrials 0.07% $2.6m 10,300 0.0% held VRSK VERISK ANALYTICS INC Industrials 0.05% $2.0m 7,300 0.0% held CME CME GROUP INC Financial Services 0.05% $2.0m 8,600 0.0% held CL COLGATE PALMOLIVE CO Consumer Defensive 0.05% $1.8m 20,100 0.0% held ADBE ADOBE INC Technology 0.04% $1.6m 3,560 0.0% held NKE NIKE INC Consumer Cyclical 0.04% $1.5m 20,400 0.0% held TROW PRICE T ROWE GROUP INC Financial Services 0.03% $1.4m 12,000 0.0% held KO COCA COLA CO Consumer Defensive 0.03% $1.3m 21,100 0.0% held EL LAUDER ESTEE COS INC Consumer Defensive 0.03% $1.1m 14,425 0.0% held HSY HERSHEY CO Consumer Defensive 0.02% $864k 5,100 0.0% held MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.02% $745k 3,300 0.0% held
Exited since Q3 2024 2 rows
Stock Prior weight Prior value JNJ JOHNSON & JOHNSON 0.02% $983k KVUE KENVUE INC 0.01% $341k
Sector mix Communication Services 25.4% Technology 24.9% Consumer Defensive 22.4% Financial Services 9.5% Unclassified 6.7% Consumer Cyclical 5.7% Healthcare 5.3% Industrials 0.1% 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