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Nick Train Lindsell Train
AUM
$2.36B
Turnover
0%
1-Year Est. Return
0.68%
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
+0.68%
1 Year Est. Return
-0.68%
3 Year Est. Return
+48.85%
5 Year Est. Return
+55.45%
10 Year Est. Return
+323.2%
AUM
$4.92B
AUM Growth
-$176M
(-3.5%)
Cap. Flow
-$156M
Cap. Flow % of AUM
Cap. Flow %
-3.16%
Top 10 Holdings %
Top 10 Hldgs %
99.04%
Holding
29
New
–
Increased
4
Reduced
7
Closed
–
Avg Time Held
4.1
years
Top 10 Avg Time Held
7.5
years
Top 20 Avg Time Held
4.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fair Isaac
FICO
|
+$34.3M |
| 2 |
PayPal
PYPL
|
+$6.86M |
| 3 |
Manchester United
MANU
|
+$1.66M |
| 4 |
Visa
V
|
+$183K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mondelez International
MDLZ
|
+$84.8M |
| 2 |
WWE
World Wrestling Entertainment
WWE
|
+$62M |
| 3 |
Intuit
INTU
|
+$21.8M |
| 4 |
PepsiCo
PEP
|
+$20.7M |
| 5 |
Walt Disney
DIS
|
+$4.26M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 40.05% |
| 2 | Communication Services | 24.96% |
| 3 | Technology | 19.59% |
| 4 | Financials | 9.48% |
| 5 | Consumer Discretionary | 5.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$84.6B
| $1.14B | 23.16% |
20,799,468
-1,365,000
| -6% | -$84.8M |
2013 Q2
37 quarters
|
|
|
2
PepsiCo
PEP
$194B
| $608M | 12.35% |
3,724,860
-120,000
| -3% | -$20.7M |
2015 Q2
29 quarters
|
|
|
3
Intuit
INTU
$94.8B
| $585M | 11.88% |
1,510,202
-50,554
| -3% | -$21.8M |
2013 Q2
37 quarters
|
|
|
WWE
4
DELISTED
World Wrestling Entertainment
WWE
| $568M | 11.53% |
8,075,056
-909,654
| -10% | -$62M |
2013 Q2
37 quarters
|
|
|
5
Walt Disney
DIS
$202B
| $515M | 10.45% |
5,447,290
-39,800
| -0.7% | -$4.26M |
2013 Q2
37 quarters
|
|
|
6
PayPal
PYPL
$49B
| $461M | 9.36% |
5,351,802
+77,340
| +1% | +$6.86M |
2015 Q3
28 quarters
|
|
|
7
Fair Isaac
FICO
$15.3B
| $378M | 7.67% |
916,905
+75,475
| +9% | +$34.3M |
2022 Q1
2 quarters
|
|
8
eBay
EBAY
$54.2B
| $278M | 5.65% |
7,558,871
-79,500
| -1% | -$3.54M |
2013 Q2
37 quarters
|
|
9
Brown-Forman Class A
BF.A
$14.6B
| $199M | 4.04% |
2,943,672
-23,000
| -0.8% | -$1.65M |
2013 Q2
37 quarters
|
|
|
10
Manchester United
MANU
$3.85B
| $145M | 2.94% |
10,925,176
+132,500
| +1% | +$1.66M |
2017 Q3
20 quarters
|
|
11
Brown-Forman Class B
BF.B
$14.2B
| $19.4M | 0.39% |
290,307
| – | – |
2018 Q1
18 quarters
|
|
12
DELISTED
Cazoo Group Ltd
CZOO
| $7.64M | 0.16% |
8,290
| – | – |
2021 Q4
3 quarters
|
|
13
Estee Lauder
EL
$39B
| $1.9M | 0.04% |
8,800
| – | – |
2020 Q2
9 quarters
|
|
14
Equifax
EFX
$22.8B
| $1.61M | 0.03% |
9,400
| – | – |
2020 Q2
9 quarters
|
|
15
American Express
AXP
$218B
| $1.57M | 0.03% |
11,600
| – | – |
2020 Q2
9 quarters
|
|
16
Alphabet (Google) Class A
GOOGL
$3.47T
| $1.53M | 0.03% |
16,000
| – | – |
2020 Q2
9 quarters
|
|
17
S&P Global
SPGI
$137B
| $1.35M | 0.03% |
4,400
| – | – |
2020 Q2
9 quarters
|
|
18
Johnson & Johnson
JNJ
$656B
| $1.29M | 0.03% |
7,900
| – | – |
2020 Q2
9 quarters
|
|
|
19
Visa
V
$790B
| $1.21M | 0.02% |
6,800
+900
| +15% | +$183K |
2020 Q2
9 quarters
|
|
20
Colgate-Palmolive
CL
$78.5B
| $1.19M | 0.02% |
16,900
| – | – |
2020 Q2
9 quarters
|
|
21
Coca-Cola
KO
$412B
| $1.18M | 0.02% |
21,100
| – | – |
2020 Q2
9 quarters
|
|
22
Nike
NKE
$58.8B
| $1.16M | 0.02% |
13,900
| – | – |
2020 Q2
9 quarters
|
|
23
Oracle
ORCL
$349B
| $1.14M | 0.02% |
18,600
| – | – |
2020 Q2
9 quarters
|
|
24
Hershey
HSY
$35.7B
| $1.12M | 0.02% |
5,100
| – | – |
2020 Q2
9 quarters
|
|
25
Verisk Analytics
VRSK
$27.5B
| $1.11M | 0.02% |
6,500
| – | – |
2020 Q2
9 quarters
|
|
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Nick Train's Q3 2022 Portfolio in Review
As of Q3 2022, Nick Train held 29 positions worth $4.92B, down 3.5% from $5.1B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Nick Train withdrew a net $156M in Q3 2022, reducing 7 holdings. Its largest reduction was Mondelez International, cutting an estimated $84.8M.
By sector, the portfolio is most concentrated in Consumer Staples at 40% of assets, down from 44% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Nick Train added an estimated $34.3M to Fair Isaac.
- Nick Train added most to Fair Isaac in Q3 2022, an estimated $34.3M increase.
- Nick Train's biggest Q3 2022 reduction was Mondelez International, cutting an estimated $84.8M.
- Nick Train's ten largest holdings make up 99% of its $4.92B portfolio in Q3 2022.
- Nick Train opened 0 new positions and closed 0 in Q3 2022.
- Nick Train's portfolio value fell 3.5% quarter-over-quarter to $4.92B.
Based on Lindsell Train's 13F filing for Q3 2022, filed 14 Nov 2022.