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 |
WWE
World Wrestling Entertainment
WWE
|
+$98.7M |
| 2 |
Mondelez International
MDLZ
|
+$93.4M |
| 3 |
Intuit
INTU
|
+$88.4M |
| 4 |
eBay
EBAY
|
+$48.9M |
| 5 |
PepsiCo
PEP
|
+$37.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walt Disney
DIS
|
+$3.31M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 43.31% |
| 2 | Communication Services | 24.66% |
| 3 | Financials | 13.11% |
| 4 | Technology | 11.28% |
| 5 | Consumer Discretionary | 7.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$85.5B
| $1.81B | 30.77% |
33,644,019
+1,799,497
| +6% | +$93.4M |
2013 Q2
24 quarters
|
|
2
PayPal
PYPL
$49.2B
| $772M | 13.11% |
6,747,431
+282,424
| +4% | +$31.3M |
2015 Q3
15 quarters
|
|
|
3
Walt Disney
DIS
$205B
| $733M | 12.44% |
5,246,251
-24,948
| -0.5% | -$3.31M |
2013 Q2
24 quarters
|
|
|
4
Intuit
INTU
$91.3B
| $664M | 11.28% |
2,542,979
+348,000
| +16% | +$88.4M |
2013 Q2
24 quarters
|
|
|
5
PepsiCo
PEP
$198B
| $597M | 10.13% |
4,553,183
+290,000
| +7% | +$37.2M |
2015 Q2
16 quarters
|
|
|
WWE
6
DELISTED
World Wrestling Entertainment
WWE
| $518M | 8.8% |
7,168,643
+1,205,461
| +20% | +$98.7M |
2013 Q2
24 quarters
|
|
|
7
eBay
EBAY
$53.1B
| $402M | 6.82% |
10,174,900
+1,301,000
| +15% | +$48.9M |
2013 Q2
24 quarters
|
|
8
Manchester United
MANU
$3.87B
| $202M | 3.43% |
11,204,561
+262,389
| +2% | +$4.94M |
2017 Q3
7 quarters
|
|
9
Brown-Forman Class A
BF.A
$14.5B
| $126M | 2.14% |
2,290,302
+194,000
| +9% | +$10.2M |
2013 Q2
24 quarters
|
|
|
ISCA
10
DELISTED
International Speedway Corp
ISCA
| $48.4M | 0.82% |
1,077,100
| – | – |
2013 Q2
24 quarters
|
|
11
Brown-Forman Class B
BF.B
$14.1B
| $16.2M | 0.27% |
291,502
| – | – |
2018 Q1
5 quarters
|
|
Similar funds
Lindsell Train's Q2 2019 Portfolio in Review
As of Q2 2019, Lindsell Train held 11 positions worth $5.89B, up 14% from $5.17B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Lindsell Train deployed $410M of net new capital in Q2 2019, adding to 8 existing holdings.
By sector, the portfolio is most concentrated in Consumer Staples at 43% of assets, up from 43% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Walt Disney, an estimated $3.31M trimmed.
- Lindsell Train added most to World Wrestling Entertainment in Q2 2019, an estimated $98.7M increase.
- Lindsell Train's biggest Q2 2019 reduction was Walt Disney, cutting an estimated $3.31M.
- Lindsell Train's ten largest holdings make up 100% of its $5.89B portfolio in Q2 2019.
- Lindsell Train opened 0 new positions and closed 0 in Q2 2019.
- Lindsell Train's portfolio value rose 14% quarter-over-quarter to $5.89B.
Based on Lindsell Train's 13F filing for Q2 2019, filed 2 Aug 2019.