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Nick Train Lindsell Train
AUM
$2.63B
Turnover
10.34%
1-Year Est. Return
2.97%
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.
This Fund
S&P 500
This Quarter Est. Return
-11.8%
1 Year Est. Return
+2.97%
3 Year Est. Return
+39.94%
5 Year Est. Return
+50.54%
10 Year Est. Return
+329.56%
AUM
$5.1B
AUM Growth
-$1.25B
(-20%)
Cap. Flow
-$382M
Cap. Flow % of AUM
Cap. Flow %
-7.49%
Top 10 Holdings %
Top 10 Hldgs %
98.92%
Holding
29
New
–
Increased
6
Reduced
4
Closed
–
Avg Time Held
3.8
years
Top 10 Avg Time Held
7.3
years
Top 20 Avg Time Held
4.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fair Isaac
FICO
|
+$57.1M |
| 2 |
Walt Disney
DIS
|
+$10.2M |
| 3 |
Manchester United
MANU
|
+$2.54M |
| 4 |
PayPal
PYPL
|
+$1.3M |
| 5 |
Intuit
INTU
|
+$952K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mondelez International
MDLZ
|
+$192M |
| 2 |
PepsiCo
PEP
|
+$115M |
| 3 |
WWE
World Wrestling Entertainment
WWE
|
+$111M |
| 4 |
eBay
EBAY
|
+$35.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 44.01% |
| 2 | Communication Services | 23.58% |
| 3 | Technology | 18.46% |
| 4 | Financials | 7.35% |
| 5 | Consumer Discretionary | 6.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$81.4B
| $1.38B | 26.99% |
22,164,468
-3,046,000
| -12% | -$192M |
2013 Q2
36 quarters
|
|
|
2
PepsiCo
PEP
$185B
| $641M | 12.57% |
3,844,860
-684,000
| -15% | -$115M |
2015 Q2
28 quarters
|
|
|
3
Intuit
INTU
$91.8B
| $602M | 11.8% |
1,560,756
+2,300
| +0.1% | +$952K |
2013 Q2
36 quarters
|
|
|
WWE
4
DELISTED
World Wrestling Entertainment
WWE
| $562M | 11.02% |
8,984,710
-1,801,247
| -17% | -$111M |
2013 Q2
36 quarters
|
|
|
5
Walt Disney
DIS
$194B
| $518M | 10.17% |
5,487,090
+91,500
| +2% | +$10.2M |
2013 Q2
36 quarters
|
|
|
6
PayPal
PYPL
$48.8B
| $368M | 7.23% |
5,274,462
+15,000
| +0.3% | +$1.3M |
2015 Q3
27 quarters
|
|
|
7
Fair Isaac
FICO
$17.6B
| $337M | 6.62% |
841,430
+144,872
| +21% | +$57.1M |
2022 Q1
1 quarter
|
|
|
8
eBay
EBAY
$54B
| $318M | 6.24% |
7,638,371
-733,000
| -9% | -$35.7M |
2013 Q2
36 quarters
|
|
9
Brown-Forman Class A
BF.A
$13.8B
| $201M | 3.94% |
2,966,672
+7,500
| +0.3% | +$475K |
2013 Q2
36 quarters
|
|
|
10
Manchester United
MANU
$3.55B
| $120M | 2.36% |
10,792,676
+196,500
| +2% | +$2.54M |
2017 Q3
19 quarters
|
|
11
Brown-Forman Class B
BF.B
$13.5B
| $20.4M | 0.4% |
290,307
| – | – |
2018 Q1
17 quarters
|
|
12
DELISTED
Cazoo Group Ltd
CZOO
| $12M | 0.23% |
8,290
| – | – |
2021 Q4
2 quarters
|
|
13
Estee Lauder
EL
$39.4B
| $2.24M | 0.04% |
8,800
| – | – |
2020 Q2
8 quarters
|
|
14
Alphabet (Google) Class A
GOOGL
$3.92T
| $1.74M | 0.03% |
16,000
| – | – |
2020 Q2
8 quarters
|
|
15
Equifax
EFX
$21.4B
| $1.72M | 0.03% |
9,400
| – | – |
2020 Q2
8 quarters
|
|
16
American Express
AXP
$212B
| $1.61M | 0.03% |
11,600
| – | – |
2020 Q2
8 quarters
|
|
17
S&P Global
SPGI
$133B
| $1.48M | 0.03% |
4,400
| – | – |
2020 Q2
8 quarters
|
|
18
Nike
NKE
$55.4B
| $1.42M | 0.03% |
13,900
| – | – |
2020 Q2
8 quarters
|
|
19
Johnson & Johnson
JNJ
$635B
| $1.4M | 0.03% |
7,900
| – | – |
2020 Q2
8 quarters
|
|
20
Colgate-Palmolive
CL
$75B
| $1.36M | 0.03% |
16,900
| – | – |
2020 Q2
8 quarters
|
|
21
Coca-Cola
KO
$399B
| $1.33M | 0.03% |
21,100
| – | – |
2020 Q2
8 quarters
|
|
22
Oracle
ORCL
$382B
| $1.3M | 0.03% |
18,600
| – | – |
2020 Q2
8 quarters
|
|
23
Visa
V
$766B
| $1.16M | 0.02% |
5,900
| – | – |
2020 Q2
8 quarters
|
|
24
CME Group
CME
$109B
| $1.15M | 0.02% |
5,600
| – | – |
2020 Q2
8 quarters
|
|
25
Verisk Analytics
VRSK
$25.5B
| $1.12M | 0.02% |
6,500
| – | – |
2020 Q2
8 quarters
|
|
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FFH
Nick Train's Q2 2022 Portfolio in Review
As of Q2 2022, Nick Train held 29 positions worth $5.1B, down 20% from $6.35B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Nick Train withdrew a net $382M in Q2 2022, reducing 4 holdings. Its largest reduction was Mondelez International, cutting an estimated $192M.
By sector, the portfolio is most concentrated in Consumer Staples at 44% of assets, up from 40% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Nick Train added an estimated $57.1M to Fair Isaac.
- Nick Train added most to Fair Isaac in Q2 2022, an estimated $57.1M increase.
- Nick Train's biggest Q2 2022 reduction was Mondelez International, cutting an estimated $192M.
- Nick Train's ten largest holdings make up 99% of its $5.1B portfolio in Q2 2022.
- Nick Train opened 0 new positions and closed 0 in Q2 2022.
- Nick Train's portfolio value fell 20% quarter-over-quarter to $5.1B.
Based on Lindsell Train's 13F filing for Q2 2022, filed 11 Aug 2022.