Lindsell Train Ltd

London, X0 · CIK 1484150 · 13F filing filed 2023-01-27

SEC-registered investment adviser since 2011 · corporation

Assets managed$9.3bn
Staff30 · 6 in investment roles
Main clients (by assets)Private funds 94%, Pension plans 6%
Private funds2 · $305.1m gross assets
Websitelindselltrain.com
Form ADV · 2026-04-27SEC adviser record

Legal entityLINDSELL TRAIN LIMITED (GB)

$5.3bn reported value +6.9% vs Q3 2022

29positions

99.1%in top 10

0 new 4 added 8 reduced 0 sold out vs Q3 2022

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MONDELEZ INTL INC CL A MDLZ	MDLZ	19,946,468	$1.3bn25.26%	25.26%	Reduced -853.0k	-853,000 -4.1%
2	PEPSICO INC COM PEP	PEP	3,563,110	$643.7m12.23%	12.23%	Reduced -161.8k	-161,750 -4.3%
3	INTUIT COM INTU	INTU	1,453,502	$565.6m10.75%	10.75%	Reduced -56.7k	-56,700 -3.8%
4	FAIR ISAAC CORP COM FICO	FICO	931,762	$556.8m10.58%	10.58%	Added +14.9k	+14,857 1.6%
5	WORLD WRESTLING ENTMT INC CL A WWE	WWE	7,463,627	$511.3m9.72%	9.72%	Reduced -611.4k	-611,429 -7.6%
6	DISNEY WALT CO COM DIS	DIS	5,430,890	$471.8m8.97%	8.97%	Reduced -16.4k	-16,400 -0.3%
7	PAYPAL HLDGS INC COM PYPL	PYPL	5,289,702	$376.8m7.16%	7.16%	Reduced -62.1k	-62,100 -1.2%
8	EBAY INC. COM EBAY	EBAY	7,519,871	$311.9m5.93%	5.93%	Reduced -39.0k	-39,000 -0.5%
9	MANCHESTER UTD PLC NEW ORD CL A MANU	MANU	11,018,676	$257.0m4.88%	4.88%	Added +93.5k	+93,500 0.9%
10	BROWN FORMAN CORP CL A BF.A	BF.A	2,927,970	$192.4m3.66%	3.66%	Reduced -15.7k	-15,702 -0.5%
11	BROWN FORMAN CORP CL B BF.B	BF.B	290,307	$19.1m0.36%	0.36%	Unchanged
12	CAZOO GROUP LTD COM COM		16,580,689	$2.6m0.05%	0.05%	Unchanged
13	LAUDER ESTEE COS INC CL A EL	EL	9,425	$2.3m0.04%	0.04%	Added +625	+625 7.1%
14	EQUIFAX INC COM EFX	EFX	9,400	$1.8m0.03%	0.03%	Unchanged
15	AMERICAN EXPRESS CO COM AXP	AXP	11,600	$1.7m0.03%	0.03%	Unchanged
16	NIKE INC CL B NKE	NKE	13,900	$1.6m0.03%	0.03%	Unchanged
17	ORACLE CORP COM ORCL	ORCL	18,600	$1.5m0.03%	0.03%	Unchanged
18	S&P GLOBAL INC COM SPGI	SPGI	4,400	$1.5m0.03%	0.03%	Unchanged
19	VISA INC COM CL A V	V	6,800	$1.4m0.03%	0.03%	Unchanged
20	ALPHABET INC CAP STK CL A GOOGL	GOOGL	16,000	$1.4m0.03%	0.03%	Unchanged
21	JOHNSON & JOHNSON COM JNJ	JNJ	7,900	$1.4m0.03%	0.03%	Unchanged
22	COCA COLA CO COM KO	KO	21,100	$1.3m0.03%	0.03%	Unchanged
23	COLGATE PALMOLIVE CO COM CL	CL	16,900	$1.3m0.03%	0.03%	Unchanged
24	HERSHEY CO COM HSY	HSY	5,100	$1.2m0.02%	0.02%	Unchanged
25	VERISK ANALYTICS INC COM VRSK	VRSK	6,500	$1.1m0.02%	0.02%	Unchanged
26	PRICE T ROWE GROUP INC COM TROW	TROW	9,600	$1.0m0.02%	0.02%	Unchanged
27	ADOBE INC COM ADBE	ADBE	3,010	$1.0m0.02%	0.02%	Added +510	+510 20.4%
28	CME GROUP INC COM CME	CME	5,600	$941.6k0.02%	0.02%	Unchanged
29	MADISON SQUARE GRDN SPRT COR CL A MSGS	MSGS	3,300	$605.0k0.01%	0.01%	Unchanged

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
MANCHESTER UTD PLC NEW MANU · 13G · filed 2026-01-06	MANU	6.4%≈ $82.5m	-1.4 pts	13G	2026-01-06