Lindsell Train (Michael Lindsell & Nick Train) latest 13F portfolio: 28 holdings worth $2.6B as of Q2 2026.
Backtested since 2020: mirroring Lindsell Train's reported 13F equity holdings each quarter would have returned +78.5% versus +195.4%for the S&P 500 (+9.6% annualized). See the Performance tab for the full equity curve.
Investor: Michael Lindsell & Nick Train
Number of Assets: 28
Reporting Period: Q2 - 2026
Holdings at Report: $2,628,784,112
Return $ Since Report: +$53,488,146
Return % Since Report: +2.03%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Canadian Pacific Kansas City Limited (CP) | Equity | 0% | 30,000 | 0.10% | $86.65 | $87.99 | $2,599,500 | $2,639,700 | +$40,200 | +1.55% |
| CME Group Inc. (CME) | Equity | 0% | 6,900 | 0.06% | $220.83 | $267.21 | $1,523,727 | $1,843,749 | +$320,022 | +21.00% |
| The Coca-Cola Company (KO) | Equity | 0% | 12,000 | 0.04% | $81.27 | $88.61 | $975,240 | $1,063,320 | +$88,080 | +9.03% |
| Adobe Inc. (ADBE) | Equity | 0% | 7,000 | 0.05% | $205.02 | $238.25 | $1,435,140 | $1,667,750 | +$232,610 | +16.21% |
| Alphabet Inc. (GOOGL) | Equity | -24.51% | 1,286,845 | 17.49% | $357.37 | $351.16 | $459,879,798 | $451,888,490 | -$7,991,308 | -1.74% |
| American Express Company (AXP) | Equity | -15.56% | 7,600 | 0.10% | $338.25 | $305.07 | $2,570,700 | $2,318,532 | -$252,168 | -9.81% |
| Brown-Forman Corp. (BF-A) | Equity | -17.42% | 2,134,789 | 2.22% | $27.36 | $26.94 | $58,407,827 | $57,511,216 | -$896,611 | -1.54% |
| The Walt Disney Company (DIS) | Equity | -18.67% | 2,607,846 | 9.55% | $96.25 | $103.82 | $251,005,178 | $270,746,572 | +$19,741,394 | +7.86% |
| Ebay Inc. (EBAY) | Equity | -42.10% | 1,116,001 | 4.74% | $111.75 | $109.28 | $124,713,112 | $121,956,589 | -$2,756,523 | -2.21% |
| Equifax Inc. (EFX) | Equity | +2.61% | 11,800 | 0.07% | $158.72 | $159.78 | $1,872,896 | $1,885,404 | +$12,508 | +0.67% |
| Fair Isaac Corp. (FICO) | Equity | -9.32% | 226,186 | 10.28% | $1,194.78 | $914.48 | $270,242,509 | $206,842,573 | -$63,399,936 | -23.46% |
| Intuit Inc. (INTU) | Equity | -9.11% | 666,883 | 6.62% | $261.00 | $292.35 | $174,056,463 | $194,963,245 | +$20,906,782 | +12.01% |
| KKR & Co. Inc. (KKR) | Equity | +100% | 667,780 | 2.33% | $91.78 | $98.44 | $61,288,848 | $65,736,263 | +$4,447,415 | +7.26% |
| The Estée Lauder Companies Inc. (EL) | Equity | 0% | 15,000 | 0.05% | $78.95 | $100.29 | $1,184,250 | $1,504,350 | +$320,100 | +27.03% |
| Madison Square Garden Sports Corp. (MSGS) | Equity | 0% | 2,800 | 0.04% | $401.84 | $396.62 | $1,125,152 | $1,110,536 | -$14,616 | -1.30% |
| Manchester United PLC (MANU) | Equity | -12.21% | 2,758,446 | 2.41% | $22.93 | $20.51 | $63,251,167 | $56,575,727 | -$6,675,440 | -10.55% |
| Mondelez International Inc. (MDLZ) | Equity | -27.98% | 2,565,453 | 5.64% | $57.84 | $61.08 | $148,385,802 | $156,697,869 | +$8,312,067 | +5.60% |
| Nike Inc. (NKE) | Equity | +0.96% | 21,000 | 0.03% | $41.05 | $36.10 | $862,050 | $758,100 | -$103,950 | -12.06% |
| Oracle Corp. (ORCL) | Equity | 0% | 9,000 | 0.05% | $146.55 | $149.20 | $1,318,950 | $1,342,800 | +$23,850 | +1.81% |
| Paypal Holdings Inc. (PYPL) | Equity | -24.33% | 3,162,672 | 5.19% | $43.18 | $52.89 | $136,564,177 | $167,273,722 | +$30,709,545 | +22.49% |
| Pepsico Inc. (PEP) | Equity | -19.85% | 1,023,706 | 5.27% | $135.40 | $131.19 | $138,609,792 | $134,299,990 | -$4,309,802 | -3.11% |
| S&P Global Inc. (SPGI) | Equity | +1.37% | 7,400 | 0.11% | $407.26 | $402.44 | $3,013,724 | $2,978,056 | -$35,668 | -1.18% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | -16.64% | 514,512 | 9.81% | $501.36 | $658.52 | $257,955,736 | $338,816,442 | +$80,860,706 | +31.35% |
| Tko Group Holdings Inc. (TKO) | Equity | -14.31% | 2,098,862 | 16.07% | $201.31 | $188.87 | $422,521,909 | $396,412,066 | -$26,109,843 | -6.18% |
| Verisk Analytics Inc. (VRSK) | Equity | +13.10% | 9,500 | 0.06% | $179.53 | $171.94 | $1,705,535 | $1,633,430 | -$72,105 | -4.23% |
| Visa Inc. (V) | Equity | +1.94% | 10,500 | 0.14% | $343.09 | $362.04 | $3,602,445 | $3,801,420 | +$198,975 | +5.52% |
| Warner Music Group Corp. (WMG) | Equity | +100% | 50,000 | 0.05% | $27.07 | $27.39 | $1,353,500 | $1,369,500 | +$16,000 | +1.18% |
| Brown-Forman Corp. (BF-B) | Equity | -12.48% | 1,379,324 | 1.40% | $26.65 | $26.56 | $36,758,985 | $36,634,845 | -$124,140 | -0.34% |