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 |
Walt Disney
DIS
|
+$20.2M |
| 2 |
PepsiCo
PEP
|
+$7.94M |
| 3 |
PayPal
PYPL
|
+$7.29M |
| 4 |
Manchester United
MANU
|
+$1.05M |
| 5 |
Brown-Forman Class A
BF.A
|
+$228K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fair Isaac
FICO
|
+$39M |
| 2 |
Mondelez International
MDLZ
|
+$28.2M |
| 3 |
eBay
EBAY
|
+$5.86M |
| 4 |
Intuit
INTU
|
+$5.85M |
| 5 |
WWE
World Wrestling Entertainment
WWE
|
+$4.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 38.98% |
| 2 | Communication Services | 25.94% |
| 3 | Technology | 21.95% |
| 4 | Financials | 7.26% |
| 5 | Consumer Discretionary | 5.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$82.3B
| $1.36B | 23.74% |
19,520,998
-425,470
| -2% | -$28.2M |
|
|
WWE
2
DELISTED
World Wrestling Entertainment
WWE
| $676M | 11.79% |
7,406,037
-57,590
| -0.8% | -$4.92M |
|
|
3
PepsiCo
PEP
$196B
| $658M | 11.48% |
3,608,510
+45,400
| +1% | +$7.94M |
|
|
4
Intuit
INTU
$100B
| $642M | 11.19% |
1,439,252
-14,250
| -1% | -$5.85M |
|
|
5
Fair Isaac
FICO
$25.3B
| $614M | 10.7% |
873,197
-58,565
| -6% | -$39M |
|
|
6
Walt Disney
DIS
$186B
| $564M | 9.84% |
5,631,490
+200,600
| +4% | +$20.2M |
|
|
7
PayPal
PYPL
$52.7B
| $409M | 7.13% |
5,384,302
+94,600
| +2% | +$7.29M |
|
|
8
eBay
EBAY
$46.3B
| $328M | 5.72% |
7,391,871
-128,000
| -2% | -$5.86M |
|
|
9
Manchester United
MANU
$4.1B
| $245M | 4.28% |
11,065,176
+46,500
| +0.4% | +$1.05M |
|
|
10
Brown-Forman Class A
BF.A
$13.3B
| $191M | 3.33% |
2,931,470
+3,500
| +0.1% | +$228K |
|
|
11
Brown-Forman Class B
BF.B
$13.1B
| $18.7M | 0.33% |
290,307
| – | – |
|
12
Estee Lauder
EL
$36.9B
| $2.32M | 0.04% |
9,425
| – | – |
|
|
CZOO
13
DELISTED
Cazoo Group Ltd
CZOO
| $2.06M | 0.04% |
8,290
| – | – |
|
14
American Express
AXP
$227B
| $1.91M | 0.03% |
11,600
| – | – |
|
15
Equifax
EFX
$22.6B
| $1.91M | 0.03% |
9,400
| – | – |
|
16
Oracle
ORCL
$422B
| $1.78M | 0.03% |
19,200
+600
| +3% | +$52.6K |
|
17
Alphabet (Google) Class A
GOOGL
$4.22T
| $1.75M | 0.03% |
16,850
+850
| +5% | +$81.5K |
|
18
Nike
NKE
$60.5B
| $1.7M | 0.03% |
13,900
| – | – |
|
19
Visa
V
$693B
| $1.53M | 0.03% |
6,800
| – | – |
|
20
S&P Global
SPGI
$127B
| $1.52M | 0.03% |
4,400
| – | – |
|
21
Colgate-Palmolive
CL
$72.6B
| $1.36M | 0.02% |
18,100
+1,200
| +7% | +$89.2K |
|
22
Coca-Cola
KO
$392B
| $1.31M | 0.02% |
21,100
| – | – |
|
23
Verisk Analytics
VRSK
$24.4B
| $1.3M | 0.02% |
6,800
+300
| +5% | +$54.3K |
|
24
Hershey
HSY
$37.5B
| $1.3M | 0.02% |
5,100
| – | – |
|
25
Adobe
ADBE
$109B
| $1.29M | 0.02% |
3,360
+350
| +12% | +$124K |
|
Similar funds
Nick Train's Q1 2023 Portfolio in Review
As of Q1 2023, Nick Train held 29 positions worth $5.73B, up 9% from $5.26B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Trading was light in Q1 2023: portfolio turnover was 0%. Nick Train opened no new positions and made no exits, leaving the 29-position portfolio largely intact.
By sector, the portfolio is most concentrated in Consumer Staples at 39% of assets, down from 42% a quarter earlier, followed by Communication Services and Technology.
- Nick Train added most to Walt Disney in Q1 2023, an estimated $20.2M increase.
- Nick Train's biggest Q1 2023 reduction was Fair Isaac, cutting an estimated $39M.
- Nick Train's ten largest holdings make up 99% of its $5.73B portfolio in Q1 2023.
- Nick Train opened 0 new positions and closed 0 in Q1 2023.
- Nick Train's portfolio value rose 9% quarter-over-quarter to $5.73B.
Based on Lindsell Train's 13F filing for Q1 2023, filed 12 May 2023.