Lindsell Train Portfolio holdings
Lindsell Train is a British equity manager that picks only a few stocks and holds them for a long time, favouring established companies with loyal customers such as Burberry, Nintendo and Diageo. Michael Lindsell and Nick Train founded it in 2000, after meeting while working at GT Management. Its first outside client, at the end of 2000, was the Finsbury Growth & Income Trust, and in 2001 it launched the Lindsell Train Investment Trust, listed in London. The firm argues that durable, cash-generating businesses are rare and are undervalued by other investors most of the time. It runs UK, Japanese, global, North American and international equity strategies, and its clients are institutions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mondelez International
MDLZ
|
+$85M |
| 2 |
Walt Disney
DIS
|
+$32.2M |
| 3 |
PepsiCo
PEP
|
+$30.8M |
| 4 |
eBay
EBAY
|
+$12.3M |
| 5 |
ISCA
International Speedway Corp
ISCA
|
+$4.64M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Keurig Dr Pepper
KDP
|
+$80.1M |
| 2 |
Intuit
INTU
|
+$76.8M |
| 3 |
WWE
World Wrestling Entertainment
WWE
|
+$52.4M |
| 4 |
PayPal
PYPL
|
+$44.3M |
| 5 |
Brown-Forman Class B
BF.B
|
+$9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 45.18% |
| 2 | Communication Services | 25.7% |
| 3 | Financials | 12.22% |
| 4 | Technology | 10.42% |
| 5 | Consumer Discretionary | 6.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$84.1B
| $1.05B | 26% |
25,586,008
+2,114,548
| +9% | +$85M |
2013 Q2
20 quarters
|
|
|
2
PayPal
PYPL
$49.9B
| $493M | 12.22% |
5,921,517
-556,000
| -9% | -$44.3M |
2015 Q3
11 quarters
|
|
|
WWE
3
DELISTED
World Wrestling Entertainment
WWE
| $444M | 11% |
6,096,868
-1,036,000
| -15% | -$52.4M |
2013 Q2
20 quarters
|
|
|
4
Walt Disney
DIS
$206B
| $426M | 10.56% |
4,063,629
+315,050
| +8% | +$32.2M |
2013 Q2
20 quarters
|
|
|
5
Intuit
INTU
$90.4B
| $420M | 10.42% |
2,057,800
-400,400
| -16% | -$76.8M |
2013 Q2
20 quarters
|
|
|
6
PepsiCo
PEP
$193B
| $378M | 9.37% |
3,473,000
+298,000
| +9% | +$30.8M |
2015 Q2
12 quarters
|
|
|
7
Keurig Dr Pepper
KDP
$50.3B
| $309M | 7.66% |
2,532,800
-666,843
| -21% | -$80.1M |
2013 Q2
20 quarters
|
|
|
8
eBay
EBAY
$53.1B
| $223M | 5.53% |
6,157,400
+317,000
| +5% | +$12.3M |
2013 Q2
20 quarters
|
|
9
Manchester United
MANU
$4.02B
| $167M | 4.14% |
8,102,771
+182,130
| +2% | +$3.67M |
2017 Q3
3 quarters
|
|
10
Brown-Forman Class A
BF.A
$14.4B
| $75.7M | 1.88% |
1,549,007
-8,230
| -0.5% | -$436K |
2013 Q2
20 quarters
|
|
|
ISCA
11
DELISTED
International Speedway Corp
ISCA
| $38.1M | 0.95% |
853,100
+109,700
| +15% | +$4.64M |
2013 Q2
20 quarters
|
|
|
12
Brown-Forman Class B
BF.B
$13.9B
| $11M | 0.27% |
224,800
-164,509
| -42% | -$9M |
2018 Q1
1 quarter
|
|
13
The Kraft Heinz Company
KHC
$28.9B
| – | – |
-78,000
| Closed | -$4.86M | – |
|
Similar funds
Lindsell Train's Q2 2018 Portfolio in Review
As of Q2 2018, Lindsell Train held 13 positions worth $4.03B, up 6.6% from $3.78B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Lindsell Train's Q2 2018 filing shows 6 increased, 6 reduced and 1 closed positions. The largest sale was Keurig Dr Pepper, an estimated $80.1M.
By sector, the portfolio is most concentrated in Consumer Staples at 45% of assets, down from 48% a quarter earlier, followed by Communication Services and Financials.
- Lindsell Train added most to Mondelez International in Q2 2018, an estimated $85M increase.
- Lindsell Train's biggest Q2 2018 reduction was Keurig Dr Pepper, cutting an estimated $80.1M.
- Lindsell Train fully exited The Kraft Heinz Company in Q2 2018, selling an estimated $4.86M.
- Lindsell Train's ten largest holdings make up 99% of its $4.03B portfolio in Q2 2018.
- Lindsell Train opened 0 new positions and closed 1 in Q2 2018.
- Lindsell Train's portfolio value rose 6.6% quarter-over-quarter to $4.03B.
Based on Lindsell Train's 13F filing for Q2 2018, filed 3 Aug 2018.