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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
+11.85%
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
$4.43B
AUM Growth
+$96.7M
(+2.2%)
Cap. Flow
-$357M
Cap. Flow % of AUM
Cap. Flow %
-8.06%
Top 10 Holdings %
Top 10 Hldgs %
97.38%
Holding
29
New
–
Increased
7
Reduced
8
Closed
–
Avg Time Held
5.6
years
Top 10 Avg Time Held
8.5
years
Top 20 Avg Time Held
5.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Brown-Forman Class B
BF.B
|
+$60.7M |
| 2 |
Walt Disney
DIS
|
+$51.6M |
| 3 |
Brown-Forman Class A
BF.A
|
+$1.37M |
| 4 |
Visa
V
|
+$946K |
| 5 |
Nike
NKE
|
+$353K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fair Isaac
FICO
|
+$263M |
| 2 |
Mondelez International
MDLZ
|
+$96.8M |
| 3 |
TKO Group
TKO
|
+$63M |
| 4 |
eBay
EBAY
|
+$15.4M |
| 5 |
Intuit
INTU
|
+$13.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 32.69% |
| 2 | Communication Services | 26.87% |
| 3 | Technology | 25.87% |
| 4 | Financials | 8.37% |
| 5 | Consumer Discretionary | 6.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Mondelez International
MDLZ
$84.1B
| $752M | 16.98% |
10,210,428
-1,377,315
| -12% | -$96.8M |
2013 Q2
45 quarters
|
|
|
2
Fair Isaac
FICO
$15.5B
| $572M | 12.91% |
294,443
-153,978
| -34% | -$263M |
2022 Q1
10 quarters
|
|
|
3
Intuit
INTU
$91.7B
| $569M | 12.84% |
916,191
-21,609
| -2% | -$13.8M |
2013 Q2
45 quarters
|
|
|
4
TKO Group
TKO
$14.5B
| $559M | 12.62% |
4,521,555
-551,247
| -11% | -$63M |
2023 Q3
4 quarters
|
|
|
5
Walt Disney
DIS
$206B
| $524M | 11.83% |
5,451,412
+561,130
| +11% | +$51.6M |
2013 Q2
45 quarters
|
|
6
PepsiCo
PEP
$194B
| $471M | 10.63% |
2,769,611
-33,700
| -1% | -$5.79M |
2015 Q2
37 quarters
|
|
7
PayPal
PYPL
$49.1B
| $358M | 8.09% |
4,591,779
-22,080
| -0.5% | -$1.48M |
2015 Q3
36 quarters
|
|
|
8
eBay
EBAY
$53.8B
| $267M | 6.04% |
4,108,022
-268,000
| -6% | -$15.4M |
2013 Q2
45 quarters
|
|
|
9
Brown-Forman Class A
BF.A
$14.1B
| $138M | 3.12% |
2,873,915
+30,340
| +1% | +$1.37M |
2013 Q2
45 quarters
|
|
10
Manchester United
MANU
$4.05B
| $103M | 2.33% |
6,371,000
-760,283
| -11% | -$12.7M |
2017 Q3
28 quarters
|
|
|
11
Brown-Forman Class B
BF.B
$13.8B
| $80.7M | 1.82% |
1,640,005
+1,349,698
| +465% | +$60.7M |
2018 Q1
26 quarters
|
|
12
Oracle
ORCL
$402B
| $3.27M | 0.07% |
19,200
| – | – |
2020 Q2
17 quarters
|
|
13
American Express
AXP
$216B
| $3.15M | 0.07% |
11,600
| – | – |
2020 Q2
17 quarters
|
|
|
14
Visa
V
$792B
| $3.08M | 0.07% |
11,200
+3,500
| +45% | +$946K |
2020 Q2
17 quarters
|
|
15
S&P Global
SPGI
$137B
| $3.05M | 0.07% |
5,900
| – | – |
2020 Q2
17 quarters
|
|
16
Equifax
EFX
$22B
| $3.03M | 0.07% |
10,300
| – | – |
2020 Q2
17 quarters
|
|
17
Alphabet (Google) Class C
GOOG
$3.58T
| $2.94M | 0.07% |
17,750
+900
| +5% | +$152K |
2023 Q4
3 quarters
|
|
18
Colgate-Palmolive
CL
$77.6B
| $2.09M | 0.05% |
20,100
| – | – |
2020 Q2
17 quarters
|
|
19
Verisk Analytics
VRSK
$26.1B
| $1.96M | 0.04% |
7,300
| – | – |
2020 Q2
17 quarters
|
|
20
CME Group
CME
$112B
| $1.9M | 0.04% |
8,600
| – | – |
2020 Q2
17 quarters
|
|
21
Adobe
ADBE
$92.7B
| $1.84M | 0.04% |
3,560
| – | – |
2020 Q2
17 quarters
|
|
|
22
Nike
NKE
$57B
| $1.8M | 0.04% |
20,400
+4,500
| +28% | +$353K |
2020 Q2
17 quarters
|
|
23
Coca-Cola
KO
$418B
| $1.52M | 0.03% |
21,100
| – | – |
2020 Q2
17 quarters
|
|
24
Estee Lauder
EL
$40.8B
| $1.44M | 0.03% |
14,425
+3,000
| +26% | +$284K |
2020 Q2
17 quarters
|
|
25
T. Rowe Price
TROW
$23.6B
| $1.31M | 0.03% |
12,000
| – | – |
2020 Q2
17 quarters
|
|
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Nick Train's Q3 2024 Portfolio in Review
As of Q3 2024, Nick Train held 29 positions worth $4.43B, up 2.2% from $4.33B the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Nick Train withdrew a net $357M in Q3 2024, reducing 8 holdings. Its largest reduction was Fair Isaac, cutting an estimated $263M.
By sector, the portfolio is most concentrated in Consumer Staples at 33% of assets, up from 32% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Nick Train added an estimated $60.7M to Brown-Forman Class B.
- Nick Train added most to Brown-Forman Class B in Q3 2024, an estimated $60.7M increase.
- Nick Train's biggest Q3 2024 reduction was Fair Isaac, cutting an estimated $263M.
- Nick Train's ten largest holdings make up 97% of its $4.43B portfolio in Q3 2024.
- Nick Train opened 0 new positions and closed 0 in Q3 2024.
- Nick Train's portfolio value rose 2.2% quarter-over-quarter to $4.43B.
Based on Lindsell Train's 13F filing for Q3 2024, filed 17 Oct 2024.