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 |
Manchester United
MANU
|
+$704K |
| 2 |
S&P Global
SPGI
|
+$548K |
| 3 |
CME Group
CME
|
+$499K |
| 4 |
Brown-Forman Class A
BF.A
|
+$391K |
| 5 |
PayPal
PYPL
|
+$341K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WWE
World Wrestling Entertainment
WWE
|
+$111M |
| 2 |
Mondelez International
MDLZ
|
+$92.6M |
| 3 |
Fair Isaac
FICO
|
+$54.1M |
| 4 |
PepsiCo
PEP
|
+$39.2M |
| 5 |
Intuit
INTU
|
+$28.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 38.95% |
| 2 | Communication Services | 26.05% |
| 3 | Technology | 22.83% |
| 4 | Financials | 6.56% |
| 5 | Consumer Discretionary | 5.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$82.3B
| $1.33B | 23.72% |
18,267,898
-1,253,100
| -6% | -$92.6M |
|
|
WWE
2
DELISTED
World Wrestling Entertainment
WWE
| $687M | 12.23% |
6,330,232
-1,075,805
| -15% | -$111M |
|
|
3
Fair Isaac
FICO
$25.3B
| $648M | 11.55% |
800,997
-72,200
| -8% | -$54.1M |
|
|
4
Intuit
INTU
$100B
| $629M | 11.21% |
1,374,052
-65,200
| -5% | -$28.6M |
|
|
5
PepsiCo
PEP
$196B
| $629M | 11.21% |
3,398,210
-210,300
| -6% | -$39.2M |
|
6
Walt Disney
DIS
$186B
| $503M | 8.96% |
5,633,690
+2,200
| +0% | +$208K |
|
|
7
PayPal
PYPL
$52.7B
| $359M | 6.4% |
5,389,302
+5,000
| +0.1% | +$341K |
|
8
eBay
EBAY
$46.3B
| $307M | 5.47% |
6,870,871
-521,000
| -7% | -$23.1M |
|
|
9
Manchester United
MANU
$4.1B
| $270M | 4.82% |
11,099,176
+34,000
| +0.3% | +$704K |
|
|
10
Brown-Forman Class A
BF.A
$13.3B
| $200M | 3.56% |
2,937,470
+6,000
| +0.2% | +$391K |
|
|
11
Brown-Forman Class B
BF.B
$13.1B
| $19.4M | 0.35% |
290,307
| – | – |
|
12
Equifax
EFX
$22.6B
| $2.42M | 0.04% |
10,300
+900
| +10% | +$189K |
|
|
13
S&P Global
SPGI
$127B
| $2.37M | 0.04% |
5,900
+1,500
| +34% | +$548K |
|
14
Oracle
ORCL
$422B
| $2.29M | 0.04% |
19,200
| – | – |
|
15
Estee Lauder
EL
$36.9B
| $2.07M | 0.04% |
10,525
+1,100
| +12% | +$233K |
|
16
American Express
AXP
$227B
| $2.02M | 0.04% |
11,600
| – | – |
|
17
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.02M | 0.04% |
16,850
| – | – |
|
18
Nike
NKE
$60.5B
| $1.75M | 0.03% |
15,900
+2,000
| +14% | +$234K |
|
19
Adobe
ADBE
$109B
| $1.74M | 0.03% |
3,560
+200
| +6% | +$80.6K |
|
20
Visa
V
$693B
| $1.73M | 0.03% |
7,300
+500
| +7% | +$114K |
|
21
Verisk Analytics
VRSK
$24.4B
| $1.65M | 0.03% |
7,300
+500
| +7% | +$105K |
|
|
22
CME Group
CME
$98.9B
| $1.59M | 0.03% |
8,600
+2,700
| +46% | +$499K |
|
23
Colgate-Palmolive
CL
$72.6B
| $1.55M | 0.03% |
20,100
+2,000
| +11% | +$155K |
|
24
T. Rowe Price
TROW
$23.8B
| $1.34M | 0.02% |
12,000
+2,200
| +22% | +$241K |
|
25
Johnson & Johnson
JNJ
$651B
| $1.31M | 0.02% |
7,900
| – | – |
|
Similar funds
Nick Train's Q2 2023 Portfolio in Review
As of Q2 2023, Nick Train held 29 positions worth $5.61B, down 2.1% from $5.73B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Nick Train withdrew a net $345M in Q2 2023, reducing 6 holdings. Its largest reduction was World Wrestling Entertainment, cutting an estimated $111M.
By sector, the portfolio is most concentrated in Consumer Staples at 39% of assets, down from 39% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Nick Train added an estimated $704K to Manchester United.
- Nick Train added most to Manchester United in Q2 2023, an estimated $704K increase.
- Nick Train's biggest Q2 2023 reduction was World Wrestling Entertainment, cutting an estimated $111M.
- Nick Train's ten largest holdings make up 99% of its $5.61B portfolio in Q2 2023.
- Nick Train opened 0 new positions and closed 0 in Q2 2023.
- Nick Train's portfolio value fell 2.1% quarter-over-quarter to $5.61B.
Based on Lindsell Train's 13F filing for Q2 2023, filed 14 Aug 2023.