Funds › Lindsell Train (Nick Train) › Q1 2026Lindsell Train (Nick Train) 13F holdings, Q1 2026 Lindsell Train (Nick Train) disclosed 27 US equity positions worth $3.1bn in its Q1 2026 13F filing. Its largest position is TKO at 15.7% of the reported book, followed by GOOGL and INTU. Versus Q4 2025 it opened 0 new positions, added to 8, reduced 17 and exited 1.
$3.1bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
27 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
15.7% Largest position The largest single position as a share of the reported equity book.
94.0% 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 Q4 2025: 0 new , 8 added , 17 reduced , 1 exited
27 rows
Stock Sector Weight Value Shares Δ shares Action TKO TKO GROUP HOLDINGS INC Communication Services 15.7% $494m 2.45m −13% reduced GOOGL ALPHABET INC Communication Services 15.6% $490m 1.70m −18% reduced INTU INTUIT Technology 10.1% $317m 733,699 +20% added DIS DISNEY WALT CO Communication Services 9.9% $309m 3.21m −7.9% reduced TMO THERMO FISHER SCIENTIFIC INC Healthcare 9.7% $303m 617,211 −10% reduced FICO FAIR ISAAC CORP Technology 8.5% $266m 249,422 +15% added MDLZ MONDELEZ INTL INC Consumer Defensive 6.5% $205m 3.56m −20% reduced PEP PEPSICO INC Consumer Defensive 6.3% $198m 1.28m −29% reduced PYPL PAYPAL HLDGS INC Financial Services 6.0% $189m 4.18m −2.8% reduced EBAY EBAY INC. Consumer Cyclical 5.6% $175m 1.93m −7.3% reduced BF/A BROWN FORMAN CORP – 2.2% $69.3m 2.59m −5.7% reduced MANCHESTER UTD PLC NEW no ticker – 1.7% $52.8m 3.14m −13% reduced BF/B BROWN FORMAN CORP – 1.3% $41.7m 1.58m −4.5% reduced V VISA INC Financial Services 0.10% $3.1m 10,300 +3.0% added SPGI S&P GLOBAL INC Financial Services 0.10% $3.1m 7,300 +7.4% added AXP AMERICAN EXPRESS CO Financial Services 0.09% $2.7m 9,000 −8.2% reduced CP CANADIAN PACIFIC KANSAS CITY Industrials 0.08% $2.4m 30,000 0.0% held EFX EQUIFAX INC Industrials 0.07% $2.1m 11,500 +4.5% added CME CME GROUP INC Financial Services 0.06% $2.0m 6,900 −6.8% reduced ADBE ADOBE INC Technology 0.05% $1.7m 7,000 +32% added VRSK VERISK ANALYTICS INC Industrials 0.05% $1.6m 8,400 +12% added ORCL ORACLE CORP Technology 0.04% $1.3m 9,000 0.0% held NKE NIKE INC Consumer Cyclical 0.04% $1.1m 20,800 +2.0% added EL LAUDER ESTEE COS INC Consumer Defensive 0.03% $1.1m 15,000 −3.2% reduced KO COCA COLA CO Consumer Defensive 0.03% $913k 12,000 −29% reduced MSGS MADISON SQUARE GRDN SPRT COR Communication Services 0.03% $900k 2,800 −15% reduced CL COLGATE PALMOLIVE CO Consumer Defensive 0.03% $852k 10,000 −32% reduced
Exited since Q4 2025 1 row
Stock Prior weight Prior value TROW PRICE T ROWE GROUP INC 0.03% $1.2m
Sector mix Communication Services 41.3% Technology 18.7% Consumer Defensive 13.0% Healthcare 9.7% Financial Services 6.4% Consumer Cyclical 5.6% Unclassified 5.2% Industrials 0.2% 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