13F portfolio / Equity portfolios
Lindsell Train
Michael Lindsell · Nick Train
Lindsell Train is a British investment firm that manages equity portfolios.
Its 13F covers only its US-listed holdings.
- Reported 13F value
- $2.6B
- Positions
- 28
- Est. 1-yearEstimate
- -7.5%SPY +15.7%
- Est. 3-year, annualizedEstimate
- +8.8%SPY +22.8%
As of Jun 30, 2026 · filed Jul 15, 2026
Holdings
2 new · 5 added · 14 trimmed · 7 unchanged · 1 sold out
| 1 | GOOGL on Yahoo Finance (opens in a new tab) | Alphabet IncCAP STK CL A | 17.5% | $460M | 1,286,845 | Trimmed -24.5% | $167.34 | $341.57 | +104.1% |
| 2 | TKO on Yahoo Finance (opens in a new tab) | Tko Group Holdings IncCL A | 16.1% | $423M | 2,098,862 | Trimmed -14.3% | $90.44* | $174.71 | +93.2% |
| 3 | FICO on Yahoo Finance (opens in a new tab) | Fair Isaac CorpCOM | 10.3% | $270M | 226,186 | Trimmed -9.3% | $957.31* | $760.96 | -20.5% |
| 4 | TMO on Yahoo Finance (opens in a new tab) | Thermo Fisher Scientific IncCOM | 9.8% | $258M | 514,512 | Trimmed -16.6% | $492.45 | $686.14 | +39.3% |
| 5 | DIS on Yahoo Finance (opens in a new tab) | Disney Walt CoCOM | 9.5% | $251M | 2,607,846 | Trimmed -18.7% | $80.63* | $110.23 | +36.7% |
| 6 | INTU on Yahoo Finance (opens in a new tab) | IntuitCOM | 6.6% | $174M | 666,883 | Trimmed -9.1% | $508.69* | $322.44 | -36.6% |
| 7 | MDLZ on Yahoo Finance (opens in a new tab) | Mondelez Intl IncCL A | 5.6% | $148M | 2,565,453 | Trimmed -28.0% | $64.20* | $63.87 | -0.5% |
| 8 | PEP on Yahoo Finance (opens in a new tab) | Pepsico IncCOM | 5.3% | $139M | 1,023,706 | Trimmed -19.8% | $157.80* | $130.98 | -17.0% |
| 9 | PYPL on Yahoo Finance (opens in a new tab) | PayPal Hldgs IncCOM | 5.2% | $137M | 3,162,672 | Trimmed -24.3% | $61.06* | $56.94 | -6.7% |
| 10 | EBAY on Yahoo Finance (opens in a new tab) | eBay Inc.COM | 4.7% | $125M | 1,116,001 | Trimmed -42.1% | $41.67* | $120.09 | +188.2% |
| 11 | MANU on Yahoo Finance (opens in a new tab) | Manchester Utd PLC NewORD CL A | 2.4% | $63M | 2,758,446 | Trimmed -12.2% | $19.67* | $20.13 | +2.4% |
| 12 | KKR on Yahoo Finance (opens in a new tab) | KKR & Co IncCOM | 2.3% | $61M | 667,780 | New | $96.70 | $86.42 | -10.6% |
| 13 | BF/A on Yahoo Finance (opens in a new tab) | Brown Forman CorpCL A | 2.2% | $58M | 2,134,789 | Trimmed -17.4% | $58.66* | $29.36 | -49.9% |
| 14 | BF/B on Yahoo Finance (opens in a new tab) | Brown Forman CorpCL B | 1.4% | $37M | 1,379,324 | Trimmed -12.5% | $44.23* | $28.68 | -35.2% |
| 15 | V on Yahoo Finance (opens in a new tab) | Visa IncCOM CL A | 0.1% | $4M | 10,500 | Added +1.9% | $248.72* | $400.91 | +61.2% |
| 16 | SPGI on Yahoo Finance (opens in a new tab) | S&P Global IncCOM | 0.1% | $3M | 7,400 | Added +1.4% | $376.32* | $426.66 | +13.4% |
| 17 | CP on Yahoo Finance (opens in a new tab) | Canadian Pacific Kansas CityCOM | 0.1% | $3M | 30,000 | Unchanged | $75.38 | $86.99 | +15.4% |
| 18 | AXP on Yahoo Finance (opens in a new tab) | American Express CoCOM | 0.1% | $3M | 7,600 | Trimmed -15.6% | $150.70* | $312.73 | +107.5% |
| 19 | EFX on Yahoo Finance (opens in a new tab) | Equifax IncCOM | 0.1% | $2M | 11,800 | Added +2.6% | $190.86* | $160.68 | -15.8% |
| 20 | VRSK on Yahoo Finance (opens in a new tab) | Verisk Analytics IncCOM | 0.1% | $2M | 9,500 | Added +13.1% | $230.40* | $188.81 | -18.1% |
| 21 | CME on Yahoo Finance (opens in a new tab) | CME Group IncCOM | 0.1% | $2M | 6,900 | Unchanged | $179.35* | $292.27 | +63.0% |
| 22 | ADBE on Yahoo Finance (opens in a new tab) | Adobe IncCOM | 0.1% | $1M | 7,000 | Unchanged | $427.01* | $244.94 | -42.6% |
| 23 | WMG on Yahoo Finance (opens in a new tab) | Warner Music Group CorpCOM CL A | 0.1% | $1M | 50,000 | New | $29.43 | $31.04 | +5.5% |
| 24 | ORCL on Yahoo Finance (opens in a new tab) | Oracle CorpCOM | 0.1% | $1M | 9,000 | Unchanged | $109.76* | $128.49 | +17.1% |
| 25 | EL on Yahoo Finance (opens in a new tab) | Lauder Estee Cos IncCL A | 0.0% | $1M | 15,000 | Unchanged | $128.03* | $104.67 | -18.2% |
| 26 | MSGS on Yahoo Finance (opens in a new tab) | Madison Square Grdn Sprt CorCL A | 0.0% | $1M | 2,800 | Unchanged | $176.16* | $389.83 | +121.3% |
| 27 | KO on Yahoo Finance (opens in a new tab) | Coca Cola CoCOM | 0.0% | $975K | 12,000 | Unchanged | $52.89* | $93.01 | +75.8% |
| 28 | NKE on Yahoo Finance (opens in a new tab) | Nike IncCL B | 0.0% | $862K | 21,000 | Added +1.0% | $84.61* | $37.06 | -56.2% |
Sold out since Q1 2026
- CL on Yahoo Finance (opens in a new tab)Colgate Palmolive Co$852K at Q1 2026
Estimated, from reported holdings
Quarter by quarter
High-conviction buys (new positions at 3% or more of the portfolio) since Q3 2023: 1. Of 1 with six months of history, 0.0% beat the S&P 500 from the filing date.
Source: SEC Form 13F-HR 0001172661-26-002623, compared with the Q1 2026 report. 0 option rows are excluded from weights. Tickers map from CUSIP via OpenFIGI. Estimated returns weight each position’s next-quarter total return (Yahoo Finance adjusted closes) by its quarter-end value and assume no trades. Estimated cost averages daily adjusted closes in each quarter the share count rose, from Q3 2023 onward (* = held at the start of our data). Price is the latest close.
Important information
Form 13F data is delayed. Managers have up to 45 days after each calendar quarter to file, so holdings shown may have changed materially since the report date. 13F reports cover long positions in US-listed equities and certain other securities only; they exclude short positions, most non-US holdings, cash, bonds and private investments, and managers may request confidential treatment for some positions. Options rows are listed in filings but are not counted in the holdings and weights shown here.
Estimated holdings returns, estimated cost and high-conviction results are hypothetical calculations from quarter-end holdings and public prices, assuming no trades between reports. They are not the actual returns or costs of any fund or manager and do not reflect fees, trading, leverage, shorts or cash. Biographies are drawn from cited public sources. This page is for information only and is not individualized investment advice or a recommendation to buy or sell any security. Gulfstream Capital and its clients may hold positions in securities shown.