Lindsell Train
Q2 2026 versus Q1 2026: 2 bought, 5 added to, 14 reduced, 1 sold. By dollars, the largest buy was KKR, $61.3M more at the quarter-end price; the largest sale Alphabet (Class A), $149.3M less. Net, $565.4M more sold than bought. What every tracked investor did in Q2 2026.
Every move, largest first
| Ticker | Issuer | Move | Shares Q1 2026 → Q2 2026 | Bought / sold | Of the portfolio | Weight now | Price vs model |
|---|---|---|---|---|---|---|---|
| GOOGL | Alphabet INC | reduced −25% | 1.7M → 1.3M | −$149.3M | −5.68% | 17.5% | 51% overvalued |
| EBAY | Ebay Inc. | reduced −42% | 1.9M → 1.1M | −$90.7M | −3.45% | 4.7% | 89% overvalued |
| TKO | Tko Group Holdings INC | reduced −14% | 2.4M → 2.1M | −$70.6M | −2.68% | 16.1% | 31% overvalued |
| KKR | Kkr & CO INC | bought | — → 667,780 | +$61.3M | +2.33% | 2.3% | 17% undervalued |
| MDLZ | Mondelez Intl INC | reduced −28% | 3.6M → 2.6M | −$57.6M | −2.19% | 5.6% | 88% overvalued |
| DIS | Disney Walt CO | reduced −19% | 3.2M → 2.6M | −$57.6M | −2.19% | 9.5% | 9% undervalued |
| TMO | Thermo Fisher Scientific INC | reduced −17% | 617,211 → 514,512 | −$51.5M | −1.96% | 9.8% | 78% overvalued |
| PYPL | Paypal Hldgs INC | reduced −24% | 4.2M → 3.2M | −$43.9M | −1.67% | 5.2% | 50% undervalued |
| PEP | Pepsico INC | reduced −20% | 1.3M → 1.0M | −$34.3M | −1.31% | 5.3% | 3% undervalued |
| FICO | Fair Isaac Corp | reduced −9% | 249,422 → 226,186 | −$27.8M | −1.06% | 10.3% | at model |
| INTU | Intuit | reduced −9% | 733,699 → 666,883 | −$17.4M | −0.66% | 6.6% | 24% undervalued |
| BF/A | Brown Forman Corp | reduced −17% | 2.6M → 2.1M | −$12.3M | −0.47% | 2.2% | — |
| MANU | Manchester Utd PLC New | reduced −12% | 3.1M → 2.8M | −$8.8M | −0.33% | 2.4% | — |
| BF/B | Brown Forman Corp | reduced −12% | 1.6M → 1.4M | −$5.2M | −0.20% | 1.4% | 9% undervalued |
| WMG | Warner Music Group Corp | bought | — → 50,000 | +$1.4M | +0.05% | 0.1% | — |
| CL | Colgate Palmolive CO | sold | 10,000 → 0 | −$852,300 | −0.03% | — | — |
| AXP | American Express CO | reduced −16% | 9,000 → 7,600 | −$473,550 | −0.02% | 0.1% | 23% overvalued |
| VRSK | Verisk Analytics INC | added +13% | 8,400 → 9,500 | +$197,483 | +0.01% | 0.1% | 11% overvalued |
| V | Visa INC | added +2% | 10,300 → 10,500 | +$68,618 | +0.00% | 0.1% | 40% overvalued |
| EFX | Equifax INC | added +3% | 11,500 → 11,800 | +$47,616 | +0.00% | 0.1% | 39% overvalued |
| SPGI | S&p Global INC | added +1% | 7,300 → 7,400 | +$40,726 | +0.00% | 0.1% | 39% overvalued |
| NKE | Nike INC | added +1% | 20,800 → 21,000 | +$8,210 | +0.00% | 0.0% | 16% overvalued |
Bought / sold is the change in shares × the quarter's reported price (value ÷ shares in the filing); a position sold out is priced at the quarter before, since it has no price in this one. “Of the portfolio” is that amount against this quarter's reported book.
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.