Lindsell Train
Portfolio value$2.6B
Positions28
QuarterQ2 2026ended 2026-06-30
Filed07/152026
Lindsell Train Ltd's Q2 2026 13F, filed Jul 15, 2026, reports 28 positions worth $2.6B. The ten largest are 90.7% of the book, led by Alphabet (Class A) at 17.5%, TKO Group Holdings at 16.1% and Fair Isaac at 10.3%. Against Q1 2026: 2 bought, 5 added to, 14 reduced, 1 sold; the largest moves were reduced Alphabet (Class A) (−25%) and reduced eBay (−42%).
Where the money is
GOOGLTKOFICOTMODISINTUMDLZPEPPYPLEBAY18 other
Holdings
| Ticker | Issuer | Weight | Value | Q-end → now | Price vs model | Change |
|---|---|---|---|---|---|---|
| GOOGL | Alphabet INC | 17.5% | $459.9M1.3M sh | 357.37 → −5% | 51% overvalued | reduced −25% |
| TKO | Tko Group Holdings INC | 16.1% | $422.5M2.1M sh | 201.31 → −13% | 31% overvalued | reduced −14% |
| FICO | Fair Isaac Corp | 10.3% | $270.2M226,186 sh | 1,194.78 → −35% | at model | reduced −9% |
| TMO | Thermo Fisher Scientific INC | 9.8% | $258.0M514,512 sh | 501.36 → +38% | 78% overvalued | reduced −17% |
| DIS | Disney Walt CO | 9.5% | $251.0M2.6M sh | 96.25 → +15% | 9% undervalued | reduced −19% |
| INTU | Intuit | 6.6% | $174.1M666,883 sh | 261.00 → +25% | 24% undervalued | reduced −9% |
| MDLZ | Mondelez Intl INC | 5.6% | $148.4M2.6M sh | 57.84 → +10% | 88% overvalued | reduced −28% |
| PEP | Pepsico INC | 5.3% | $138.6M1.0M sh | 135.40 → −3% | 3% undervalued | reduced −20% |
| PYPL | Paypal Hldgs INC | 5.2% | $136.6M3.2M sh | 43.18 → +31% | 50% undervalued | reduced −24% |
| EBAY | Ebay Inc. | 4.7% | $124.7M1.1M sh | 111.75 → +8% | 89% overvalued | reduced −42% |
| MANU | Manchester Utd PLC New | 2.4% | $63.3M2.8M sh | 22.93 | — | reduced −12% |
| KKR | Kkr & CO INC | 2.3% | $61.3M667,780 sh | 91.78 → −6% | 17% undervalued | bought |
| BF/A | Brown Forman Corp | 2.2% | $58.4M2.1M sh | 27.36 | — | reduced −17% |
| BF/B | Brown Forman Corp | 1.4% | $36.8M1.4M sh | 26.65 → +8% | 9% undervalued | reduced −12% |
| V | Visa INC | 0.1% | $3.6M10,500 sh | 343.09 → +17% | 40% overvalued | added +2% |
| SPGI | S&p Global INC | 0.1% | $3.0M7,400 sh | 407.26 → +5% | 39% overvalued | added +1% |
| CP | Canadian Pacific Kansas City | 0.1% | $2.6M30,000 sh | 86.65 | — | held |
| AXP | American Express CO | 0.1% | $2.6M7,600 sh | 338.25 → −7% | 23% overvalued | reduced −16% |
| EFX | Equifax INC | 0.1% | $1.9M11,800 sh | 158.72 → +2% | 39% overvalued | added +3% |
| VRSK | Verisk Analytics INC | 0.1% | $1.7M9,500 sh | 179.53 → +6% | 11% overvalued | added +13% |
| CME | Cme Group INC | 0.1% | $1.5M6,900 sh | 220.83 → +33% | 18% overvalued | held |
| ADBE | Adobe INC | 0.1% | $1.4M7,000 sh | 205.02 → +20% | 28% undervalued | held |
| WMG | Warner Music Group Corp | 0.1% | $1.4M50,000 sh | 27.07 | — | bought |
| ORCL | Oracle Corp | 0.1% | $1.3M9,000 sh | 146.55 → −13% | 30% undervalued | held |
| EL | Lauder Estee Cos INC | 0.0% | $1.2M15,000 sh | 78.95 → +32% | 1731% overvalued | held |
| MSGS | Madison Square Grdn Sprt Cor | 0.0% | $1.1M2,800 sh | 401.84 | — | held |
| KO | Coca Cola CO | 0.0% | $975,24012,000 sh | 81.27 → +16% | 76% overvalued | held |
| NKE | Nike INC | 0.0% | $862,05021,000 sh | 41.05 → −10% | 16% overvalued | added +1% |
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.