Nick Train Lindsell Train
Nick Train is a co-founder of Lindsell Train, a London-based firm known for concentrated ownership of high-quality consumer, media, and financial franchises. The firm favors long holding periods and businesses with durable brands or network effects. Train’s commentaries are popular among global quality investors.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
WWE
World Wrestling Entertainment
WWE
|
+$19.9M |
| 2 |
Mondelez International
MDLZ
|
+$19.8M |
| 3 |
PepsiCo
PEP
|
+$19.2M |
| 4 |
Brown-Forman Class A
BF.A
|
+$5.82M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walt Disney
DIS
|
+$63M |
| 2 |
PayPal
PYPL
|
+$56.3M |
| 3 |
Intuit
INTU
|
+$12.6M |
| 4 |
eBay
EBAY
|
+$6.15M |
| 5 |
Manchester United
MANU
|
+$647K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 40.12% |
| 2 | Communication Services | 24.44% |
| 3 | Financials | 16.04% |
| 4 | Technology | 12.43% |
| 5 | Consumer Discretionary | 6.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$82.3B
| $1.77B | 25.69% |
30,263,086
+346,600
| +1% | +$19.8M |
|
|
2
PayPal
PYPL
$52.7B
| $1.1B | 15.94% |
4,687,362
-271,650
| -5% | -$56.3M |
|
|
3
Walt Disney
DIS
$186B
| $987M | 14.33% |
5,445,740
-439,050
| -7% | -$63M |
|
|
4
Intuit
INTU
$100B
| $854M | 12.39% |
2,247,006
-35,850
| -2% | -$12.6M |
|
|
5
PepsiCo
PEP
$196B
| $761M | 11.04% |
5,129,024
+135,200
| +3% | +$19.2M |
|
|
WWE
6
DELISTED
World Wrestling Entertainment
WWE
| $501M | 7.27% |
10,416,238
+474,000
| +5% | +$19.9M |
|
|
7
eBay
EBAY
$46.3B
| $475M | 6.89% |
9,444,371
-120,500
| -1% | -$6.15M |
|
|
8
Brown-Forman Class A
BF.A
$13.3B
| $204M | 2.96% |
2,772,833
+81,000
| +3% | +$5.82M |
|
|
9
Manchester United
MANU
$4.1B
| $194M | 2.81% |
11,567,199
-42,627
| -0.4% | -$647K |
|
|
10
Brown-Forman Class B
BF.B
$13.1B
| $23.1M | 0.33% |
290,307
| – | – |
|
11
Estee Lauder
EL
$36.9B
| $2.34M | 0.03% |
8,800
| – | – |
|
12
Nike
NKE
$60.5B
| $1.97M | 0.03% |
13,900
| – | – |
|
13
Equifax
EFX
$22.6B
| $1.81M | 0.03% |
9,400
| – | – |
|
14
T. Rowe Price
TROW
$23.8B
| $1.45M | 0.02% |
9,600
| – | – |
|
15
S&P Global
SPGI
$127B
| $1.45M | 0.02% |
4,400
| – | – |
|
16
Colgate-Palmolive
CL
$72.6B
| $1.45M | 0.02% |
16,900
| – | – |
|
17
American Express
AXP
$227B
| $1.4M | 0.02% |
11,600
| – | – |
|
18
Alphabet (Google) Class A
GOOGL
$4.22T
| $1.4M | 0.02% |
16,000
| – | – |
|
19
Verisk Analytics
VRSK
$24.4B
| $1.35M | 0.02% |
6,500
| – | – |
|
20
Visa
V
$693B
| $1.29M | 0.02% |
5,900
| – | – |
|
21
Adobe
ADBE
$109B
| $1.25M | 0.02% |
2,500
| – | – |
|
22
Johnson & Johnson
JNJ
$651B
| $1.24M | 0.02% |
7,900
| – | – |
|
23
Oracle
ORCL
$422B
| $1.2M | 0.02% |
18,600
| – | – |
|
24
Coca-Cola
KO
$392B
| $1.16M | 0.02% |
21,100
| – | – |
|
25
CME Group
CME
$98.9B
| $1.02M | 0.01% |
5,600
| – | – |
|
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Nick Train's Q4 2020 Portfolio in Review
As of Q4 2020, Nick Train held 27 positions worth $6.89B, up 12% from $6.16B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Trading was light in Q4 2020: portfolio turnover was 0%. Nick Train opened no new positions and made no exits, leaving the 27-position portfolio largely intact.
By sector, the portfolio is most concentrated in Consumer Staples at 40% of assets, down from 43% a quarter earlier, followed by Communication Services and Financials.
- Nick Train added most to World Wrestling Entertainment in Q4 2020, an estimated $19.9M increase.
- Nick Train's biggest Q4 2020 reduction was Walt Disney, cutting an estimated $63M.
- Nick Train's ten largest holdings make up 100% of its $6.89B portfolio in Q4 2020.
- Nick Train opened 0 new positions and closed 0 in Q4 2020.
- Nick Train's portfolio value rose 12% quarter-over-quarter to $6.89B.
Based on Lindsell Train's 13F filing for Q4 2020, filed 12 Feb 2021.